How to Get a Securities License (Start With the SIE)
Getting a securities license starts with the SIE — the one exam you can take entirely on your own ($100, 18+, no sponsor needed). After that, a firm-sponsored exam — such as the Series 7 — grants the full license that lets you do the job. The SIE is the only step you can finish before anyone hires you.
"Securities license" sounds like one credential, but it's really a sequence. There isn't a single test you sit to be "licensed" — you build up to it. The good news: the first and most important step is the one you control, and you can start it today without a job, a sponsor, or a degree. Here's the whole path, in plain terms.
What is a securities license?
A securities license is the regulatory authorization that lets you sell securities — stocks, bonds, mutual funds, and other investment products — or give certain investment advice for a firm. In the U.S., these registrations are administered through FINRA, and most require passing one or more qualification exams. Which license you need depends on what you want to do: a mutual-fund salesperson, a full-service stockbroker, and an investment adviser representative each register differently.
The key thing to understand up front: nearly every full license is tied to a sponsoring firm. You don't usually go get licensed and then look for a job — you get hired, and the firm sponsors you through the exams that grant the license. The one major exception is the exam that starts the whole process.
Start with the SIE — no sponsor, $100
The Securities Industry Essentials (SIE) exam is the foundation of essentially every securities license, and it's the only one you can take on your own. There's no broker sponsor, no firm association, no degree, and no prior experience required — if you're 18 or older, you can register with FINRA, pay the $100 fee, and sit it (at a Prometric center or online with a proctor). It's 75 scored questions in 1 hour 45 minutes, you need 70% to pass, and a pass stays valid for four years.
Because it needs no sponsor, the SIE is how you prove you're serious before you're hired — and it's the cheapest, lowest-risk move you can make toward a securities career. Passing it is "Step 1" for the stockbroker, the financial advisor, and almost everyone else.
Representative-level licenses (Series 6, 7, and beyond)
After the SIE, the specific license you earn depends on the role — and these are the firm-sponsored exams that grant actual selling or advising authority. At a high level:
- Series 7 — General Securities Representative. The full-service license most people picture when they say "stockbroker": it lets you sell a broad range of securities. It's the most demanding of the common representative exams — 125 questions, 3 hours 45 minutes, a passing score of 72, and a $395 fee — and it requires both a SIE pass and firm sponsorship. (See SIE vs Series 7.)
- Series 6 — Investment Company / Variable Contracts Representative. A narrower license focused on packaged products like mutual funds and variable annuities. Common for bank and insurance-channel roles. Like the Series 7, it's taken with the SIE and requires firm sponsorship.
- Series 63 / 65 / 66 — state (NASAA) registrations. These cover state-level requirements: the 63 for agents, the 65 for investment adviser representatives, and the 66 as a combined option. They're administered through FINRA but governed by NASAA, and which you need depends on the role and state.
What unites all of these: the SIE comes first, and the representative exam comes after a firm sponsors you. The exact exam combination is set by your employer and the job you're being licensed for.
Specific question counts, fees, times, and passing scores beyond the SIE and Series 7 vary by exam and are set by FINRA/NASAA — always confirm the current details for the exam you need.
Do you need a sponsor?
For the full license, yes; for the first step, no. That single distinction is the most useful thing to know about getting licensed:
- The SIE needs no sponsor. Anyone 18+ can take it independently — no firm, no job, no degree. This is what makes it a true on-ramp.
- Representative-level exams (Series 6, 7, etc.) require sponsorship. A FINRA-member broker-dealer has to hire you and open a registration on your behalf before you can sit them. You can't self-register for the Series 7.
So the realistic order is: pass the SIE on your own → use it to land a sponsored role → finish the representative exam your employer requires. Starting with the SIE is what lets you make progress today instead of waiting for a job offer first.
Steps & timeline to getting licensed
Every path differs, but the shape is consistent:
- Pass the SIE — on your own, $100, no sponsor. This is the step you can start now.
- Get hired and sponsored — a broker-dealer (or advisory firm) brings you on and sponsors your registration.
- Pass the role's representative exam — typically the Series 6 or Series 7, often paired with a state exam (Series 63/65/66).
- Register and stay current — your registration is completed through your firm, with ongoing continuing-education requirements after that.
Timelines depend entirely on your study pace, when you get hired, and which exams your role needs, so there's no single "X weeks" answer. What you can do regardless of where you are is clear the first hurdle — and that's the SIE.