LicenseCompare

Starter plan

US securities registration starter plan

A starter plan for US securities career entrants, SIE candidates, investment adviser representatives, broker-dealer teams, and founders comparing SEC, state, FINRA, and public-register routes.

Who this helps

  • - SIE candidates
  • - IAR candidates
  • - Registered representative candidates
  • - RIA founders
  • - Broker-dealer applicants

First decision

Decide whether the work is investment advice, brokerage/dealing, both, or another securities role before treating SIE, Series 7, Series 65, Form ADV, or Form NMA as the route.

Role tracks

Securities industry career starter

Licensing question

Is the person exploring a securities role, or already associated with a firm that will sponsor a registration?

Exam or qualification check

Use SIE as entry knowledge; it does not by itself register someone or permit securities sales.

Register check

Use BrokerCheck for broker-dealer firms and registered representatives, and IAPD for investment adviser firms and representatives.

FINRA SIE study mapUS exam routeSecurities career starter path

Investment adviser or IAR

Licensing question

Is compensation for advice, portfolio recommendations, or investment management creating SEC/state adviser or IAR questions?

Exam or qualification check

Use NASAA exam outlines and Series 65/66 context only after deciding adviser firm and representative status.

Register check

Use IAPD to verify adviser firm, representative, Form ADV, status, and disclosures.

Series 65 study mapSEC RIA Form ADV packInvestment adviser readiness path

Broker-dealer or registered representative

Licensing question

Does the model involve effecting securities transactions, transaction compensation, order routing, placement, or brokerage?

Exam or qualification check

Series 7 and other representative exams generally need firm sponsorship and do not create the broker-dealer firm licence.

Register check

Use BrokerCheck and FINRA membership sources before relying on a person or firm holding itself out as registered.

US broker-dealer NMA packSeries 7 study mapBroker-dealer and dealing path

Starter steps

Days 1-7

Advice versus brokerage

  • - Write whether the activity is advice, brokerage/dealing, fund management, research, marketing, or transaction support.
  • - Open FINRA career and SIE sources if the goal is to enter the securities industry.
  • - Open BrokerCheck and IAPD to understand how real firm/person records differ.

Days 8-30

Exam and registration boundaries

  • - Map SIE, Series 7, Series 65, Series 66, state IAR, firm sponsorship, Form U4, Form ADV, and Form NMA separately.
  • - Run the US adviser versus broker-dealer compensation mapper before deciding the application route.
  • - Prepare a register due diligence checklist for firms, principals, and representatives.

Days 31-90

Application or role readiness

  • - For RIA routes, prepare Form ADV narrative, policies, custody, conflicts, and disclosure evidence.
  • - For broker-dealer routes, prepare FINRA membership, supervisory, AML, financial, exam, and registered-person evidence.
  • - For career entry, keep exam results, employer sponsorship, register checks, and role duties in separate notes.

Evidence to start

  • - Advice/brokerage activity memo.
  • - SIE, Series 7, Series 65/66, IAR, and sponsorship boundary notes.
  • - Form ADV or Form NMA evidence map depending on route.
  • - BrokerCheck and IAPD register check log.

What to verify

  • - Whether compensation is advisory, transaction-based, asset-based, referral-based, or mixed.
  • - Whether registration is SEC, state, FINRA member firm, representative, IAR, or multiple routes.
  • - Whether the current FINRA, SEC, NASAA, and register source pages have changed before relying on a plan.

Common mistakes

  • - Treating SIE as authority to sell securities.
  • - Ignoring broker-dealer questions because the firm calls itself an adviser or consultant.
  • - Checking only one register when both BrokerCheck and IAPD may matter.

Disclaimer

Information on LicenseCompare is for general educational purposes only and does not constitute legal, regulatory, financial, tax, investment, or professional advice. Licensing requirements depend on facts and change over time. Always consult official regulator materials and qualified professional advisers.