Should I Take Series 63 or Series 66?

🧾 Should I Take Series 63 or Series 66?
🎓 Understanding Which Exam Fits Your Career Path

When deciding between the Series 63 and the Series 66 exams, it’s essential to understand the differences between the two and how they align with your career goals. Both exams are required for individuals working in the securities industry, but they serve distinct purposes. Here’s what you need to know to help you make an informed decision about which exam to take.

🎯 1. What Is the Series 63 Exam?

The Series 63 exam, also known as the Uniform Securities Agent State Law Exam, is designed for individuals who want to work as securities agents (sales representatives) in one or more states. This exam tests knowledge of state-specific securities regulations, ethical standards, and how to conduct business within those regulations.

Who Should Take the Series 63 Exam?

• Sales Representatives: If you’re working in a role where you will be selling securities (such as stocks, bonds, or mutual funds) and need to be registered to do so in a particular state, the Series 63 exam is required.
• State Registration: The Series 63 exam is required to be registered with state securities regulators.

Key Focus Areas:

• State Securities Regulations: Understanding state-specific securities laws.
• Ethical Conduct: Knowledge of ethical standards and practices for securities agents.
• Regulatory Entities: Roles of regulatory bodies like FINRA, SEC, and state regulators.

🎯 2. What Is the Series 66 Exam?

The Series 66 exam, also known as the Uniform Combined State Law Exam, combines the content of the Series 63 and Series 65 exams. It’s designed for individuals who want to act as both securities agents and investment adviser representatives (IARs).

Who Should Take the Series 66 Exam?

• Dual Role Professionals: If you want to sell securities and also provide investment advice (as an investment adviser representative), the Series 66 is the right choice. It qualifies you to act in both capacities.
• Financial Advisors: If you’re aiming to provide financial advice to clients and manage their investments, Series 66 allows you to handle both securities sales and advisory roles.

Key Focus Areas:

• Securities Sales: Knowledge of the same state laws and ethical standards covered by the Series 63.
• Investment Advisory Practices: Understanding of investment products, portfolio management, and the regulations governing investment advice.
• Suitability Requirements: The Series 66 focuses heavily on assessing the suitability of investments for clients.

🎯 3. Series 63 vs Series 66: Key Differences

🎯 4. Which One Should You Take?

Your decision depends on the type of role you plan to pursue in the securities industry. Here’s a breakdown to help guide your choice:

Take the Series 63 If:

• You want to sell securities but don’t plan on offering investment advice.
• Your goal is to work as a securities agent within a specific state, selling products like stocks, bonds, mutual funds, and other securities.
• You plan on working for a brokerage firm, bank, or other organizations that focus on selling investment products.

Take the Series 66 If:

• You want to sell securities and also provide investment advice to clients.
• Your goal is to work as both a securities agent and an investment adviser representative, allowing you to provide comprehensive financial advice to clients.
• You’re aiming to be a financial adviser or work in a role that involves both selling securities and offering investment management services.

🎯 5. How to Decide

Step 1: Clarify Your Career Goals

• Do you want to sell securities only? If yes, the Series 63 might be sufficient.
• Do you want to provide investment advice as well? If so, the Series 66 is the better option.

Step 2: Consider Time and Complexity

• The Series 63 is typically shorter and less complex since it focuses on state law and ethical standards. If you’re only interested in selling securities, it could be the quicker path.
• The Series 66 is more comprehensive, requiring knowledge of both securities regulations and investment advisory practices. It might take longer to prepare but offers more career flexibility.

Step 3: Look at Your State Requirements

• Depending on the state you plan to work in, you may need one or both exams. Some states may require the Series 63 for securities agents, while others may require the Series 66 for those offering investment advice.

🚀 Conclusion

Choosing between the Series 63 and Series 66 exams ultimately depends on your career path. If you’re primarily focused on securities sales and don’t plan on providing investment advice, the Series 63 exam is the right choice. However, if you plan to offer both securities sales and investment advice, the Series 66 is the more appropriate option, as it qualifies you for both roles.

🎓 Need help preparing for the Series 63 or Series 66 exam?
Get access to study guides, practice questions, and tailored resources at
👉 https://finra-exam-mastery.com

Take the next step in your securities career and pass your Series 63 or Series 66 exam with confidence!