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An investment adviser representative must pass either the Uniform Investment Adviser Law Examination (Series 65); or the applicable required FINRA examination (s) and the Uniform Combined State Law Examination (Series 66). Individuals with certain professional designations may be exempt from examination requirements.
You must fulfill the exam requirements by passing the S7 and the S66 or by passing the S65 or by holding in good standing one or more of the following approved professional designations: CFP, CFA, ChFC, CIC, or PFS.
In order to become a stockbroker in Indiana, you must be registered with the Indiana Securities Bureau, the Securities and Exchange Commission (SEC), and at least one self-regulatory organization (SRO) recognized by the SEC.
Financial & Bonding Requirements. An IA is not required to maintain a bond or satisfy a minimum net worth requirement. Audited financial statements are required for IAs that have custody of client funds and IAs that require advance payment of fees in excess of $500 or 6 months in advance.
To register an RIA in Indiana in 2024, you will need to submit the documents listed below and pay an initial firm filing fee to Indiana’s Securities Division. Please verify the current fee structure, as it may have changed.
To become registered, securities professionals must pass qualifying exams administered by FINRA to demonstrate their competence in the particular securities activities in which they will work. An individual must pass the exams prior to engaging in those areas of the business.
You’ll be required to take either: The Series 65, Uniform Investment Adviser Law Examination by itself; OR. The Series 66, Uniform Combined State Law Examination in combination with the Series 7, General Securities Representative Examination.
