If I currently hold the Series 7 and 66 licenses, do I need to take the Series 65 exam to become an investment advisor representative? 24 months, than a prospective investment advisor representative will generally not be required to take the Series 65 examination as the active Series 7 and 66 combination will suffice. How hard is the Series 65 Exam and what does it cost to take the exam? If investment advisor representative exam spend a solid 10-12 hours studying, you generally should have a good chance to pass.

Are there any professional designations which exempt someone from needing to take the Series 65 Exam? There are a number of professional designations that will often be accepted in lieu of an examination. How does a prospective investment advisor schedule the Series 65 Exam? Either the individual should file a Form U10 or the individual’s firm should file the Form U4. Once registered, the 120-day window will open to schedule the exam. Is there a continuing education requirement for an investment advisor representative? There is no continuing education requirement.

As of today, neither the firm nor any representatives of the firm need continuing education. What are the annual registration fees for an investment advisor representative? All individual investment advisor representative annual registration fees are billed to the associated RIA firm. All fees are administered at the state level. What is the Form ADV 2B? This form contains employment, educational, conflict of interest, and disciplinary information.

Generally, Executive Officers, any person generating investment advice provided to clients, and any representative advising clients must have a Form ADV Part 2B. Can an investment advisor representative be a dual registrant of multiple firms? A dual registrant is an individual investment advisor who is registered to multiple investment firms. Most states allow individuals to be dually registered to multiple firms, but there are some states which do not allow this practice including Alaska, Mississippi, Nebraska, Oregon, South Carolina, Utah, and Virginia.

Other states only allow dual registration to affiliated firms. Does an investment adviser representative need to be registered to an RIA firm? Yes, in order to conduct investment advisory business, an investment adviser representative must be registered to an RIA firm. Similarly, every investment advisory firm needs at least one investment advisor representative registered to the firm. Over 3,000 investment advisors have trusted RIA in a Box as their registration compliance consultants and our mission is to enable fellow entrepreneurs to establish their own RIA firms and remain in constant compliance with regulatory guidelines.

Note: RIA in a Box LLC is not a law firm, investment advisory firm, or a CPA firm. RIA in a Box LLC does not provide legal advice or opinions to any party or client. You should always consult your relevant regulatory authorities as this information should not be relied upon as currently accurate. This information is provided for educational purposes only and is not an exhaustive list of regulatory requirements. The Division also conducts field audits of broker-dealer and investment advisers and investigates customer complaints. 266-2139, Monday through Friday between 8 a.

Franchise Filing Important Notice To promote sustainability and efficiency, all franchise registrations and amendments must be filed online with the Division. You may check on an investment adviser or investment adviser representative at the Investment Adviser Public Disclosure website. Regulations, 2013 and offering investment advisory services. Certification Examination is the level 1 examination. The certification aims to enhance the quality of investment advisory and related services in the financial services industry.

Know the basics of investment advisory, steps in the advisory process, making and implementation of financial plan. Understand how to evaluate different products, their suitability and how the recommendation of the same can impact investment risks, returns and strategies in a personal finance environment for investors and prospective investors in the market. Get oriented to the Income tax, Wealth tax and legalities of Estate planning in personal finance, and regulatory aspects underlying advisory. Get acquainted with financial planning as an approach to investing, insurance, retirement planning and an aid for advisers to develop long term relationships with their clients.

The examination consists of 100 questions of 1 mark each and should be completed in 2 hours. Policy on Unfair Means, Cheating, Forgery, Impersonation, etc. National Institute of Securities Markets, NISM Bhavan, Plot No. The certification aims to enhance the quality of sales, distribution and related support services in the mutual fund industry.