What It Costs to Get Licensed as a Financial Advisor

Exam fees

SIE: $100. Series 7: $395. Series 63: $147. Series 65: $187. Series 66: $177.

Adding the listed fees for the SIE, Series 7 and Series 63 gives $642. The SIE, Series 7 and Series 66 add to $672. The Series 65 on its own is $187. Which combination applies to you depends on the roles and states involved; see the guide on what to do after the SIE.

Changing or missing an appointment

FINRA says to cancel or reschedule at least 10 business days before an appointment to avoid fees. Changes made within three to 10 business days are assessed about half the exam fee ($50 for the SIE, $197.50 for the Series 7). Changes made within two business days, and no-shows, are assessed the full exam fee ($100 for the SIE, $395 for the Series 7). FINRA's policy page has a table with the exact deadline date for each appointment day, so use it for any specific date.

Who pays and how

An individual enrolling for the SIE can pay by credit card or ACH, or redeem a voucher. Whether a firm pays for an exam is a matter between you and the firm.

Costs not covered here

State registration, filing and fingerprint fees and other costs are not covered by the fee pages cited here, so no figures are given for them. Ask your state securities regulator and any firm you are considering what applies to you.

Keep going

• SIE practice questions
• Series 7 practice questions
• Series 65 practice questions
• Series 66 practice questions
• SIE vs. Series 7
• Series 65 vs. Series 66
• Can you be a financial advisor part-time?