Do you need a license to be a financial advisor in California?
Becoming a financial advisor in California will require you to either register an independent investment adviser (IA) firm, or to become registered as an investment adviser representative (IAR) with one of the many existing firms already serving the residents of California.
Can a CFA be a financial advisor?
The CFA credential, on the other hand, can be used for both corporate roles (such as financial analyst, trading, equity research associate, investment banking, and private equity) and personal financial planning/advisor roles. Both designations offer a wide scope of opportunities.
What does the Series 66 exam cover?
The Series 66 is an exam and license that is meant to qualify individuals as investment advisor representatives or securities agents. The Series 66, also known as the Uniform Combined State Law Examination, covers topics relevant to providing investment advice and effecting securities transactions for clients.
How do I check my Series 7 license status?
Visit FINRA BrokerCheck or call FINRA at (800) 289-9999.
How do I register as a registered investment advisor in California?
In order to file a registered investment adviser application with the state of California, one must first apply to the Financial Industry Regulatory Authority (FINRA) for an account (Entitlement) to their WebCRD/IARD on-line system (the web application for the registration of RIA’s and their representatives).
Do you need a Series 7 to be a CFP?
A CFP® who holds and maintains a Series 7 license is different than someone who doesn’t. One obtains the Series 7 by passing a General Securities Representative Exam, which allows the individual to sell general investment products and securities on behalf of the financial firm they work for.
What is the difference between a CFP and a financial advisor?
A financial planner holds the Certified Financial Planner (CFP) designation and can help clients develop plans to reach goals by considering the entirety of their financial health and standing. A financial advisor focuses on their clients investments and how they can use them to build wealth.