Is the Series 65 Worth It? A Complete ROI Analysis

Breaking down the true cost, career opportunities, salary potential, and when this exam makes financial sense for your career.

Last updated: January 2026 | Salary data from Glassdoor, ZipRecruiter, and PayScale

💰 Quick Answer: Is It Worth It?

For most aspiring investment advisors: Yes, absolutely.

The Series 65 costs $350 to $600 total (exam + prep course) and takes 6 to 8 weeks of part-time study. It unlocks careers paying $60,000 to $200,000+. That's an ROI of 100x to 500x your investment over a career. Few certifications offer this combination of low cost, short timeline, and high earning potential.

$350-$600

Total Investment

Exam + prep course

$72K-$200K

Salary Range

Entry to senior level

6-8 Weeks

Study Time

Part-time while working

~68%

Pass Rate

Industry average

Total Cost Breakdown

Let's look at the complete cost of getting your Series 65 license, from exam fees to study materials.

Cost Category	Amount	Notes
Exam Fee	$187	Paid to FINRA; non-refundable
Prep Course (Budget)	$159-$249	Achievable, Kaplan Essentials
Prep Course (Premium)	$395-$1,020	Knopman Marks, STC Premium
State Registration	$0-$100	Varies by state; often paid by employer
Retake Fee (if needed)	$187	30-day wait for first two attempts
Total (First Attempt)	$346-$1,207	Most pay $350-$600

Budget Option: $346

• Exam fee: $187
• Achievable prep course: $159
• Best for: Self-motivated learners with some finance background

Compare This to Other Certifications

For perspective: the CFP costs $5,000 to $12,000 total. The CFA costs $3,500 to $12,000+ across three levels. An MBA costs $50,000 to $200,000+. The Series 65's $350 to $600 price tag is remarkably affordable for the career access it provides.

Career Opportunities & Salary Data

The Series 65 unlocks access to investment adviser representative (IAR) roles. Here's what the salary data shows across experience levels and job types.

Salary by Experience Level

Experience	Salary Range	Total Comp (with bonuses)
Entry Level 0-1 years	$50,000-$65,000	$55,000-$75,000
Early Career 1-4 years	$60,000-$85,000	$70,000-$100,000
Mid-Career 5-9 years	$80,000-$120,000	$95,000-$150,000
Senior 10+ years	$100,000-$200,000	$150,000-$350,000+

Source: Aggregated from Glassdoor, ZipRecruiter, and PayScale (December 2025).

Jobs You Can Get with a Series 65

Investment Adviser Representative (IAR)

The most common path. Work at an RIA firm providing investment advice to clients.

$60K-$140K depending on experience

Wealth Manager

Serve high-net-worth clients with comprehensive financial planning.

$80K-$200K+ with established client base

Fee-Only Financial Planner

Provide advice without selling products. Growing demand for this model.

$70K-$150K+ as a fiduciary advisor

Compliance Officer

Monitor firm operations and regulatory compliance. Less client-facing.

$65K-$120K in regulatory roles

Job Market Demand

Over 2,700 Series 65 jobs are currently listed on Glassdoor, with salary ranges of $60,000 to $140,000+. The demand for fiduciary advisors continues to grow as more investors seek fee-only advice. RIA firms are the fastest-growing segment of the financial advisory industry.

ROI Calculation: The Numbers

Let's do the math on whether the Series 65 is worth it financially.

Scenario: Career Changer with No Finance Background

Investment

Exam fee $187
Prep course (Achievable) $199
Study time (100 hrs @ $0) $0
Total Investment $386

First Year Return

Entry-level IAR salary $65,000
Previous salary (example) $45,000
First Year Salary Increase +$20,000

52x

First Year ROI

($20K return / $386 cost)

1 Week

Break-Even Point

Pays for itself in days

$500K+

10-Year Earnings Boost

Assuming salary progression

Important Context

These calculations assume you're transitioning from a non-finance career. If you're already in financial services and just adding the license to your existing role, the immediate salary bump may be smaller, but the career optionality is still valuable. The license opens doors to new employers, client types, and business models (like starting your own RIA).

Series 65 vs Other Certifications

How does the Series 65 compare to other paths into investment advisory and financial planning?

Credential	Total Cost	Time to Complete	Prerequisites	Best For
Series 65 Fastest ROI	$350-$600	6-8 weeks	None	Career changers, RIA roles
Series 66 + Series 7	$800-$1,500	3-4 months	Firm sponsorship	Broker-dealers, dual roles
CFP	$5,000-$12,000	1-2 years	Bachelor's degree, coursework	Comprehensive planners
CFA	$3,500-$12,000	2-4 years	Bachelor's or work experience	Institutional, portfolio mgmt

Important: CFP and CFA Can Waive Series 65

If you already hold (or plan to earn) a CFP or CFA designation, most states will waive the Series 65 exam requirement. The same applies to the ChFC, PFS, and CIC designations.

Bottom line: If your goal is comprehensive financial planning, the CFP is a better long-term investment. But if you want to start working as an investment advisor quickly, the Series 65 gets you licensed in weeks instead of years.

Start with Series 65, Add CFP Later

A common path: Get your Series 65 first to start working as an IAR. Then pursue CFP certification while employed, often with employer tuition support. This way you earn while you learn.

✓ Fastest path to income + eventual CFP status

Go Straight to CFP

If you're willing to invest 1 to 2 years and $5K+ before earning, the CFP is more comprehensive and prestigious. It covers retirement, estate, tax, insurance, and investments.

✓ Higher long-term earning potential

When the Series 65 IS Worth It

The Series 65 is an excellent investment in these situations:

✓ Career Changers

You want to transition into financial services but don't have industry connections or a finance degree. The Series 65 requires no prerequisites and no firm sponsorship.

Why it works: Prove your competence before applying, differentiate yourself from other applicants, and reduce your employer's onboarding time.

✓ Aspiring RIA Employees

You want to work at a Registered Investment Adviser (RIA) firm providing fee-only advice. This is the fastest-growing segment of the advisory industry.

Why it works: RIAs require the Series 65 (or 66) for anyone giving investment advice. It's the entry ticket to this entire industry segment.

✓ CPAs and Accountants

You're a CPA or accountant who wants to expand into wealth management and offer investment advice alongside tax services.

Why it works: Your existing client base trusts you with their finances. Adding investment advice creates a new revenue stream and deeper client relationships.

✓ Insurance Agents Adding Advisory Services

You sell insurance and want to offer holistic financial planning that includes investments, not just insurance products.

Why it works: Clients increasingly want comprehensive advice. The Series 65 lets you manage assets and provide fiduciary advice, not just sell policies.

✓ Entrepreneurs Starting an RIA

You want to start your own Registered Investment Adviser firm and build an independent practice.

Why it works: The Series 65 is required to register as an IAR. Combined with state registration, it's the foundation for starting your own firm.

✓ Recent Graduates

You just graduated with a finance, economics, or business degree and want to stand out in job applications.

Why it works: Having your Series 65 before your first interview shows initiative and commitment. Most entry-level candidates don't have it.

When the Series 65 is NOT Worth It

The Series 65 isn't the right choice in every situation. Here's when to skip it or choose a different path:

✗ You Already Have CFP or CFA

If you hold (or are close to earning) a CFP, CFA, ChFC, PFS, or CIC designation, you can waive the Series 65 in most states.

Instead: Apply for the Series 65 waiver through your state securities regulator. No exam needed.

✗ You Only Want to Sell Securities

If your goal is to be a stockbroker or sell mutual funds without providing investment advice, you need the Series 7 (and 6), not the 65.

Instead: Get firm sponsorship and take the Series 7. Add Series 66 later if you want advisory capabilities.

✗ You're Retiring Soon

If you're planning to retire within 2 to 3 years, the Series 65 may not provide enough ROI to justify the time investment.

Instead: Focus on maximizing your current role or transitioning to a lower-stress position without new licensing requirements.

✗ Your State Doesn't Require It

A few states have alternative paths for investment adviser registration. Check your state's specific requirements before assuming you need the 65.

Instead: Contact your state securities regulator to confirm which exams are required for your intended role.

⚠️ You Have No Interest in Investment Advice

If you're interested in banking, insurance (without investments), or corporate finance, the Series 65 won't help your career.

Instead: Focus on credentials relevant to your target role (banking certifications, insurance licenses, CPA, etc.).

⚠️ You Need Firm Sponsorship Anyway

If you're joining a broker-dealer that requires both Series 7 and advisory licenses, they may prefer you wait and take the Series 66 (which they sponsor).

Instead: Confirm with your prospective employer which path they prefer for new hires.

Frequently Asked Questions

Is the Series 65 worth it for career changers?

Yes, if you want to become an investment adviser representative (IAR). The Series 65 is one of the most accessible entry points into the investment advisory field because it has no prerequisites and no firm sponsorship required. For about $400 to $600 total (exam + prep), you can unlock access to jobs paying $60,000 to $100,000+. The ROI is extremely high compared to other career certifications.

How much can I earn with a Series 65 license?

Entry-level investment adviser representatives typically earn $50,000 to $72,000 per year. With 2 to 5 years of experience, salaries commonly reach $75,000 to $100,000. Senior advisors and those with a strong client base can earn $150,000 to $350,000+. Compensation often includes base salary plus bonuses and commissions.

Is the Series 65 harder than the CFP?

No, the CFP is significantly more difficult and comprehensive. The Series 65 is a 3-hour, 130-question exam covering investment advisory regulations. The CFP exam covers retirement planning, tax planning, estate planning, insurance, and investments over a 6-hour exam. However, if you earn your CFP, you can waive the Series 65 requirement in most states.

Can I take the Series 65 without a job offer?

Yes, the Series 65 is one of the few securities exams you can take without firm sponsorship. You can self-register, study on your own timeline, and have your license ready before applying for jobs. This makes it ideal for career changers who want to enter the field with credentials already in hand.

How long does a Series 65 license last?

Your Series 65 registration is valid as long as you remain registered with a state or firm. If you leave the industry, you have 2 years before your license lapses. After that, you would need to retake the exam. There are no ongoing continuing education requirements for the Series 65 itself, though your employer may have their own requirements.

Is the Series 65 or Series 66 better for my career?

It depends on your career path. The Series 65 (standalone) is best for independent RIAs and fee-only advisors who don't need to sell securities. The Series 66 (requires Series 7 first) is best for broker-dealer reps who also want to provide investment advice. The Series 66 is technically two licenses in one, but requires firm sponsorship for the Series 7.

Do I need the Series 65 if I have a CFP or CFA?

Not necessarily. Both the CFP and CFA designations can waive the Series 65 exam requirement in most states. However, you still need to register as an investment adviser representative with your state or firm. Check your state's specific rules, as a few states may have additional requirements.

How long does it take to get a job after passing the Series 65?

With a Series 65 license and a relevant degree, most candidates find positions within 1 to 3 months of active searching. Entry-level IAR roles at RIAs and wealth management firms regularly hire new licensees. Having the license before applying shows initiative and reduces onboarding time for employers.

Is the Series 65 worth it if I'm already in banking?

Often yes, if you want to transition from banking to investment advisory. The Series 65 opens doors to investment adviser roles at RIAs, wealth management firms, and family offices. Your banking experience plus the Series 65 is a strong combination for client-facing advisory roles.

What jobs can I get with only a Series 65?

With just a Series 65, you can work as an investment adviser representative (IAR) at a registered investment adviser (RIA) firm, fee-only financial planning firm, or wealth management company. You can provide investment advice and manage client portfolios. You cannot sell securities (that requires Series 6 or 7) or sell insurance (requires separate state licenses).

Ready to Get Started?

If the Series 65 makes sense for your career, the next step is choosing a prep course and creating your study plan.

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