How to become a financial advisor in New York

To become a financial advisor in New York, pass the Series 65 and have the firm you join register you as an investment adviser representative with the Attorney General's Investor Protection Bureau.

The Series 65 needs no firm sponsor, so you can pass it while still in your current job. No New York rule requires a college degree, though BLS lists "Bachelor's degree"1 as the typical entry education for the job. To also sell stocks, bonds or funds, you add the SIE, the Series 7, which needs a brokerage firm to sponsor you, and the Series 63 or 66 as your state law exam.

On the fee schedules dated August 6, 20262, New York charges $2003 to register a representative and the same again every year, and $704 to register a securities agent, the registration for selling securities. Holding a CFP® certification, ChFC, PFS, CFA or CIC5 in good standing replaces the Series 65 for a representative. Life and health insurance is a separate license from the New York State Department of Financial Services, and it starts with a 406-hour course.

DataMay 2025 OEWS, 2025 to 2035 national projections, New York 2024 to 2034 projections, BEA 2024 price parities, New York fee guide, FINRA and IARD fee schedules and rules as read October 2026. Data updated

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Quick facts

Securities regulator
New York Attorney General, Investor Protection Bureau7
Exam to give advice for a fee
Series 65, or Series 66 with a valid SIE and Series 78
Designations that replace that exam
CFP® certification, ChFC, PFS, CFA or CIC5
State law exam to sell securities
Series 63 or Series 669
Representative registration fee
$2003 to start and $2003 every year, the same if you are also an agent
Agent registration fee
$704 to start, then $372 a year renewed through your firm on CRD, or $15010 for 410 years at firms outside FINRA
Continuing education for representatives
Not adopted11 (checked October 29, 202611)
Representatives registered since
February 1, 202112
Insurance regulator
New York State Department of Financial Services13
Life and health license
406 -hour course, exam by PSI Services14, $8015 license for up to 215 years
Personal financial advisors employed, BLS May 2025
21,55016 (US 266,80017)
Median advisor wage, BLS May 2025, all employers
$166,40016, one in ten below $76,19016 and one in ten above $427,70016 (US median $105,07017)
  • Registration fees are from New York's rules and the FINRA and IARD fee schedules dated August 6, 20262, and the insurance license fee is as read October 29, 202618.
  • Wages are BLS survey figures for all employers and leave out the self-employed.

Which license path fits your goal?

What you want to do decides which exams you take and which agency registers you. Some roles need more than one row.

Which license path fits your goal, New York (New York Attorney General, Investor Protection Bureau, FINRA, advisorroadmap.com arithmetic on FINRA and NASAA fees, New York State Department of Financial Services; October 2026)
Your goalExamsFirm sponsor needed?Who registers youExam feesExams plus registration
Give investment advice for a feeSeries 65, or a waiver designationNo sponsor to sit the exam. An adviser firm files your registrationNew York Attorney General, Investor Protection Bureau7$18719$3873,19, or $2003 with a waiver designation
Sell stocks, bonds and fundsSIE, Series 7, then the Series 63Yes for the Series 7FINRA and the Investor Protection Bureau$64220-22$8704,20-24
Sell securities and give advice for a feeSIE, Series 7 and Series 66, or SIE, Series 7, Series 63 and Series 65Yes for the Series 7FINRA and the Investor Protection Bureau, as an agent and as a representative$67220,21,25 with the Series 66, $82919-22 with the Series 63 and 65$1,1004,20,21,23-26 with the Series 66, $1,2574,19-24,26 with the Series 63 and 65
Sell mutual funds and variable products onlySIE, Series 6, Series 63, plus the insurance license for variable productsYes for the Series 6FINRA, the Investor Protection Bureau and the Department of Financial Services$34720,22,27$5754,20,22-24,27 before the insurance license
Sell life, health and annuity insuranceA 406-hour course, then the state life, accident and health examNoNew York State Department of Financial Services13Listed by PSI Services14$8015 license fee, plus the course and exam
Exam fees are FINRA and NASAA prices, and the U4 and fingerprint fees are FINRA's, all as read October 29, 202618.

FINRA is the industry regulator that runs the brokerage exams, and NASAA, the association of state securities regulators, writes the Series 63, 65 and 66. The last column adds New York's registration fees and, for the brokerage rows, FINRA's $12523 fee for the Form U4, the registration form your firm files for you, plus $3324 for electronic fingerprints. Rows that both sell and advise count $704 plus $20026, because New York charges the full representative fee even to registered agents. The advice row counts only the exam and New York's fee, and no total includes study materials, prep courses or retakes. Some employers pay exam and registration fees for people they sponsor and some do not, so ask before you enroll.

One New York detail changes the advice-only row. The Series 66 counts for a representative only while your SIE and Series 7 are still valid on CRD, FINRA's registration system. Without a brokerage sponsor, the Series 65 or a waiver is the only way in. The license path finder shows the exams in order for your goal, the cost and time tool prices your own path, and the roadmap builder puts the steps in order for your situation.

How do you register in New York, step by step?

New York does not issue a separate securities license. What people call a New York securities license is your registration with the Investor Protection Bureau as an agent, a representative or both, filed by your firm after you pass the exams.

  1. Pick your path from the table above

    An advice-only role needs the Series 65 or a waiver designation. Selling securities needs a brokerage firm to sponsor you for the Series 7, so that part comes once you are hired.

  2. Pass the exams you can take on your own

    The SIE and, for advice-only work, the Series 65 need no sponsor, so you can sit them while still in your current job (FINRA SIE page, NASAA exam FAQ). The SIE costs $10020 as read October 29, 202618, a pass stays valid for 420 years, and the SIE alone does not let you do any securities business. A Series 65 pass counts in New York only if a firm files your registration within 228 years (Section 11.6), so time it with your job search. For exam prep, Advisor Train covers the Series 65 and the SIE. The second career guide and the insurance agent, banker and military guides cover fitting this around your current work.

  3. Get hired and sponsored for the Series 7

    Your firm enrolls you, and you then have 12029 days to sit it. How to get sponsored for the Series 7 covers this step, Advisor Train covers the Series 7, and FINRA's exam pages list every FINRA exam.

  4. Pass your state law exam

    New York takes the Series 63 or Series 669 from securities agents, at FINRA member firms and other firms alike, and neither needs a sponsor (NASAA exam page). Advisor Train covers the Series 63 and Series 66.

  5. Your firm files your Form U4 on CRD

    For representatives the U4 on CRD is the only way to register. On the fee schedules dated August 6, 20262, New York charges representatives $2003, and agents pay New York $704 plus the FINRA filing and fingerprint fees listed under the table above. New York requires fingerprints for brokerage salespeople under General Business Law Section 359-e, but prints already on file with FINRA, the SEC or a major exchange need not be filed again with the state. The U4 and background check guide explains what the form asks.

  6. Add the insurance license in parallel if your role needs it

    It runs through the Department of Financial Services, covered below.

Deadlines and renewals. The 228-year clock for representative exams runs to the day your firm files, unless a waiver applies. An agent whose registration lapses for 230 years or more must test again, and New York does not accept2 NASAA's exam validity extension for agents. Representatives renew every year through CRD for the same fee as the first year. A FINRA member firm renews its agents each year through CRD, and salespeople of firms outside FINRA renew directly with the state every 410 years.

If you plan to start your own advisory firm. The firm registers separately from you. A state-registered firm files Form ADV, the adviser firm's registration form, through IARD, pays New York's $20012 initial and annual fee (as read October 29, 202618), and sends financial statements to the Bureau. The Attorney General's Investment Advisers FAQ lists each filing, and the broker-dealer and RIA guide explains the firm side.

Which exam waivers does New York accept?

Designations. Under Section 11.7(c), which the Attorney General's FAQ also points to, the representative exam does not apply to anyone who currently holds a CFP® certification, ChFC, PFS, CFA or CIC5 in good standing. The designation must be current when you file, not just earned at some point. It waives only the representative exam. Selling securities still takes the FINRA exams and the Series 63 or Series 66. The CFP® certification guide covers what that credential takes.

Prior registration elsewhere. Under Section 11.7(a), New York waives the exam if you have been continuously registered to give investment advice in any state for at least 25 years, have had no lapse longer than 25 years, and have nothing pending or in the past 105 years that would need disclosure on Form U4. The Department of Law must approve it. This is the route for a representative moving to New York from another state.

How to ask. Both waivers are requested through the Form U4 on CRD and sent to the Department of Law automatically (Section 11.7(d)). The FAQ says a prior-registration applicant does not need to open an exam window.

New salespeople get no waiver. New York's only exam waiver for securities agents covers people continuously registered in the state from 1981 to 1983. The Bureau's page says there are no other exam waivers for salespersons.

One designation, two agencies. The insurance department keeps its own list. A ChFC waives the representative exam under Section 11.7(c) and is also on the Department of Financial Services list of designations that skip the insurance pre-licensing course (CPCU, CLU, CLUA, ChFC or MSFS6). A CFP® certification waives the representative exam but is not on that insurance list.

What is different about New York?

  • The SEC line is lower here. A New York-based adviser firm moves from state to SEC registration once it manages $25 million12 or more in client assets. Representatives of SEC-registered firms still register with New York when they work from a place of business in the state and meet the SEC definition of an investment adviser representative.
  • Changing firms costs the full fee again. On the fee schedules dated August 6, 20262, New York charges a representative $20026 to transfer to a new firm, against $602 for an agent.
  • No continuing education rule for representatives. New York is not on NASAA's IAR CE map as of October 29, 202611. Agents of brokerage firms still complete FINRA's own continuing education through their firm.

Why do other sites give different New York answers?

Some of the gaps come from guides written before New York began registering representatives on February 1, 202112, or from national rules applied to New York.

  • Representative fee. One New York guide says the state charges no representative fee. New York charges $2003 to start and every year after (Section 11.8).
  • SEC threshold. Some answers say New York advisers move to SEC registration at $100 million31 in client assets. The Attorney General's FAQ puts the line for New York-based advisers at $25 million12.
  • Waiver paperwork. Some guides still send you to the old Form NY-IAQ. Waivers now go through the Form U4 on CRD (Section 11.7(d)).
  • The Series 66. Some answers list the Series 66 on its own, or with the Series 7 alone. In New York it counts for a representative only with a valid SIE and Series 7.
  • Designations. NASAA's general list of designations that replace the Series 65 includes the MSFS and CIMA, and New York's does not. New York accepts the CFP® certification, ChFC, PFS, CFA or CIC5.

Do you need a New York insurance license?

You need one to sell life, health or annuity products. Selling variable annuities takes both this license and a securities registration, because those products are securities as well as insurance. For advisors the relevant license is the life, accident and health agent license from the New York State Department of Financial Services13.

  1. Take the pre-licensing course

    New York requires a course approved by the Department before you can be licensed. Life, accident and health together take 406 hours, and life only or accident and health only take 206 hours. Holders of a CPCU, CLU, CLUA, ChFC or MSFS6 skip the course.

  2. Pass the state exam

    PSI Services14 runs every New York insurance licensing exam, and its New York candidate bulletin lists the fee.

  3. Apply online through NY LINX

    You must be at least 1832, apply within 232 years of passing, and pay $8015 (as read October 29, 202618) for a resident life license, accident and health license, or both. A license term of a year or less costs half.

  4. Renew on your birthday

    Licenses run up to 215 years and end on your birthday in an even or odd year, matching the year you were born. Once a license has been in effect for more than 233 years, each renewal needs 1533 credits of continuing education, including at least 133 hour each of ethics and professionalism, Insurance Law, and diversity, inclusion and elimination of bias.

The Department's agents and brokers pages are the official source, and the licenses overview explains how advisors use this license alongside securities registrations.

How much do financial advisors make in New York?

BLS put the May 2025 median wage for personal financial advisors in New York at $166,40016, the highest34 of any state with a published figure, against $105,07017 for the US. One in ten earned less than $76,19016 and one in ten more than $427,70016. The New York City metro, which includes northern New Jersey, had a median of $170,05035. Outside that metro, every metro BLS publishes has an advisor median between $101,15035 and $130,94016,17,35, closer to the US figure than to the state one. These are survey figures for all employers, not a forecast of what any one person will earn or what any firm pays.

Personal financial advisors (BLS, May 2025, all employers)

New York

One in ten earn less than
$76,19016
Median
$166,40016
One in ten earn more than
$427,70016

United States

One in ten earn less than
$50,19017
Median
$105,07017
One in ten earn more than
$357,02017

BLS splits advisor-type work across codes. It defines securities sales agents as people who buy and sell securities or commodities in investment and trading firms, or provide financial services to businesses and individuals, and who may advise customers about stocks, bonds and mutual funds. Advisors at brokerage firms can be counted there rather than as personal financial advisors, but the code is wider than advising, so its New York figures are not advisor pay.

How much do financial advisors make in New York, New York (U.S. Bureau of Labor Statistics; May 2026)
Occupation (BLS, May 2025, all employers)New York employedNew York medianOne in ten earn less thanOne in ten earn more thanUS median
Personal financial advisors (13-2052)21,55016$166,40016$76,19016$427,70016$105,07017
Securities and financial services sales agents (41-3031)55,63016$168,34016$59,96016$329,46016$78,66017
Insurance sales agents (41-3021)22,42016$78,11016$37,79016$173,75016$62,28017

How to read these numbers.

  • OEWS counts wage and salary workers only, so it leaves out self-employed advisors. Nationally, the BLS Occupational Outlook Handbook counts 299,4001 advisor jobs in 2025 including the self-employed, against 266,80017 in OEWS.
  • The New York mean of $210,31016 sits well above the median because the highest earners pull it up, so the median is the better guide to the middle of the range.
  • From the May 2025 survey on, BLS publishes the top tenth of advisor wages as a number instead of capping it at $239,20036, so pages using older data show a lower top end.
  • BLS warns against comparing survey years to track pay changes.
  • New York prices ran 7.9%37 above the US average in 2024 (BEA). That is a price level, not an adjustment to any wage above.
  • Other New York salary figures differ for two reasons. Some pages still show BLS tables from May 2019 as current, and salary sites built from job postings or self-reported pay publish "averages" with no survey method behind them. One page prints the right May 2025 median without naming BLS and calls the gap to the US figure far larger than it is. The New York median was 58%16,17 above the US median.

Where are the financial advisor jobs in New York?

New York has 2.216 advisor jobs per thousand jobs against 1.716,35 for the US, a location quotient of 1.3016, so advisors are more concentrated here than in the US as a whole. Securities sales agents are more concentrated still, at a location quotient of 1.8216, while insurance agents run below the US share at 0.7516.

The New York City metro row counts more advisors than the whole state because the metro includes northern New Jersey, so read it as a regional figure, not a New York state number. Every other metro BLS publishes for New York is upstate or in the Hudson Valley, with far fewer advisors. The New York City metro page breaks it down.

Where are the financial advisor jobs in New York, New York (U.S. Bureau of Labor Statistics; May 2026)
Metro, personal financial advisors (BLS, May 2025, all employers)Employed35Per thousand jobs35Median35One in ten earn less than35One in ten earn more than35
New York-Newark-Jersey City (NY and NJ)23,980352.535$170,05035$81,52035$420,63035
Rochester820351.735$101,15035$61,19035$286,31035
Buffalo-Cheektowaga690351.335$103,65035$60,30035$374,02035
Albany-Schenectady-Troy680351.535$124,61035$57,33035$360,64035
Kiryas Joel-Poughkeepsie-Newburgh260351.035$114,11035$55,73035$369,34035
Syracuse (less precise count)240350.835$126,43035$67,69035$448,14035
Binghamton100351.135$103,59035$63,62035$329,83035
Utica-Rome90350.835$123,28035$62,74035$449,56035
Ithaca40350.935$130,94035$80,30035$294,94035
New York state21,550162.216$166,40016$76,19016$427,70016
United States266,800171.716,35$105,07017$50,19017$357,02017

BLS publishes no advisor row for Elmira, Glens Falls, Kingston and Watertown-Fort Drum35, so any advisor figure you see for those areas did not come from this survey. The Syracuse count is the least precise of the New York metro rows, with a relative standard error of 27.5%35.

Are financial advisors in demand in New York?

New York's Department of Labor projects personal financial advisor jobs in the state to grow 9%38 from 2024 to 2034, with about 2,38438 openings a year. Nationally, BLS projects 1%1 growth from 2025 to 2035, slower than the average for all occupations, with about 17,1001 openings a year, mostly to replace advisors who move to other occupations or retire. The two come from different agencies and different ten-year periods, so the gap between them is not a measure of New York against the US. Pages that quote double-digit national growth are using older BLS projections. On whether AI will replace advisors, the BLS outlook says AI tools for financial advice may moderate demand for advisors, while many consumers are expected to keep relying on human advisors for more complex and specialized investment advice. Is financial advisor a good career? covers the outlook in more depth.

Do you register in New York if you work across state lines?

Registration follows where you work and whom you advise. A representative working from a place of business in New York registers here. The Attorney General's FAQ says a representative whose place of business is outside New York and who has no New York clients does not need to register in New York, though principals of New York-registered firms register wherever they sit. The other state's own rules still apply, and the state guides cover each state as it publishes.

Questions people ask

How long does it take to become a financial advisor in New York?

No New York rule sets a minimum time. The exams move fastest, since each must be taken within 12029 days of enrolling, and you can pass the SIE and Series 65 while still in your current job. The slower parts are getting hired by a firm, which the Series 7 needs, and the supervised training that follows, which BLS says usually lasts more than a year39. During that training new advisors work under senior advisors and learn to build a client network, and BLS notes that many advisors spend a lot of time marketing their services. How long it takes lays out a full timeline.

Do I need a degree to become a financial advisor in New York?

No New York rule requires one. Section 11.6 and the Investor Protection Bureau's agent rules ask for exams, or a waiver designation for representatives, so answers that list a bachelor's degree as a New York requirement mix up the state rule with what BLS says the job typically needs. BLS lists "Bachelor's degree"1 as the typical entry education, though employers usually do not require a specific field of study, and the CFP® certification has its own degree rule. The step by step guide covers education choices.

Do I need the Series 63 in New York?

Only if you will sell securities, and even then the Series 66 can take its place. New York accepts the Series 63 or Series 669 from securities agents. A representative who only gives advice for a fee takes the Series 65 or uses a waiver and needs neither.

Does a CFP® certification waive the Series 65 in New York?

Yes, if it is current. Section 11.7(c) waives the representative exam for a CFP® certification, ChFC, PFS, CFA or CIC5 held in good standing, requested through your Form U4. It does not cover the Series 7, the Series 63 or the insurance pre-licensing course.

Who regulates financial advisors in New York?

New York's securities regulator is the New York Attorney General, Investor Protection Bureau7. It registers investment adviser representatives and securities agents, alongside FINRA for agents of brokerage firms. The New York State Department of Financial Services13 licenses insurance agents. New York has no separate securities division or department.

Sources

BLS FINRA New York Attorney General, Investor Protection Bureau New York State Department of Financial Services NASAA U.S. Bureau of Economic Analysis New York State Department of Labor Show sourcesHide sources

BLS

  1. Occupational Outlook Handbook, Personal Financial Advisors, OOH 2025-35 edition (projections released August 27, 2026).bls.gov, accessed October 29, 2026
  2. Occupational Employment and Wage Statistics (OEWS), May 2025, May 15, 2026 (May 2025 estimates, USDL-26-0725).bls.gov, accessed October 29, 2026
  3. Occupational Employment and Wage Statistics (OEWS), May 2025, May 15, 2026 (May 2025 estimates, USDL-26-0725).bls.gov, accessed October 29, 2026
  4. Occupational Employment and Wage Statistics (OEWS), May 2025, state file, May 15, 2026 (May 2025 estimates).bls.gov, accessed October 29, 2026
  5. Occupational Employment and Wage Statistics (OEWS), May 2025, May 15, 2026 (May 2025 estimates, USDL-26-0725).bls.gov, accessed October 29, 2026
  6. OEWS Frequently Asked Questions, May 2025 estimates.bls.gov, accessed October 29, 2026
  7. Occupational Outlook Handbook, Personal Financial Advisors, How to Become One, Occupational Outlook Handbook, as read October 29, 2026.bls.gov, accessed October 29, 2026

FINRA

  1. SRO/Jurisdiction Fee and Setting Schedule, Fees As Of 8/6/2026, Fees As Of 8/6/2026.finra.org, accessed October 29, 2026
  2. FINRA Qualification Exams, Pages as read October 29, 2026.finra.org, accessed October 29, 2026
  3. Series 65 exam page (NASAA exam administered by FINRA), FINRA exam page, as read October 29, 2026.finra.org, accessed October 29, 2026
  4. Securities Industry Essentials (SIE) Exam, FINRA SIE exam page, as read October 29, 2026.finra.org, accessed October 29, 2026
  5. Series 7 exam page, FINRA exam page, as read October 29, 2026.finra.org, accessed October 29, 2026
  6. Series 63 exam page (NASAA exam administered by FINRA), FINRA exam page, as read October 29, 2026.finra.org, accessed October 29, 2026
  7. Fee Schedule (Classic CRD), as read October 29, 2026.finra.org, accessed October 29, 2026
  8. Fingerprint Fees, FBI fee change effective October 1, 2026.finra.org, accessed October 29, 2026
  9. Series 66 exam page (NASAA exam administered by FINRA), FINRA exam page, as read October 29, 2026.finra.org, accessed October 29, 2026
  10. IA Representative Fee and Setting Schedule, Fees As Of 8/6/2026, Fees As Of 8/6/2026.iard.com, accessed October 29, 2026
  11. Series 6 exam page, FINRA exam page, as read October 29, 2026.finra.org, accessed October 29, 2026
  12. Schedule an Exam, as read October 29, 2026.finra.org, accessed October 29, 2026
  13. Annuities.finra.org, accessed October 29, 2026

New York Attorney General, Investor Protection Bureau

  1. 13 NYCRR 11.8, text of revised regulations (New York Department of Law), Current as read October 29, 2026.ag.ny.gov, accessed November 2, 2026
  2. New York Attorney General, Investor Protection Bureau fee information, Current as read October 29, 2026.ag.ny.gov, accessed October 29, 2026
  3. 13 NYCRR 11.7, text of revised regulations (New York Department of Law), Amended eff. 2/2/2021 (NY State Register December 2, 2020, Vol. XLII, Issue 48).ag.ny.gov, accessed November 2, 2026
  4. New York Attorney General, Investor Protection Bureau website, Current page as read October 29, 2026.ag.ny.gov, accessed October 29, 2026
  5. New York Attorney General, Investor Protection Bureau rule or page, Current as read October 29, 2026.ag.ny.gov, accessed October 29, 2026
  6. New York Attorney General, Investor Protection Bureau rule or page, Current as read October 29, 2026.ag.ny.gov, accessed October 29, 2026
  7. Investor Protection filing fee guide, Page as read October 29, 2026, no table date ("All fees are subject to change").ag.ny.gov, accessed October 29, 2026
  8. Investment Advisers FAQ, Page as read October 29, 2026.ag.ny.gov, accessed October 29, 2026
  9. 13 NYCRR 11.6, text of revised regulations (New York Department of Law), Amended eff. 2/2/2021 (NY State Register December 2, 2020, Vol. XLII, Issue 48).ag.ny.gov, accessed November 2, 2026
  10. Broker-dealer and securities issuers registration, Page as read October 29, 2026.ag.ny.gov, accessed October 29, 2026

New York State Department of Financial Services

  1. Pre-licensing education, Page as read October 29, 2026.dfs.ny.gov, accessed October 29, 2026
  2. New York State Department of Financial Services website, Current page as read October 29, 2026.dfs.ny.gov, accessed October 29, 2026
  3. Agents and brokers, Page as read October 29, 2026.dfs.ny.gov, accessed October 29, 2026
  4. Application Fees and Assessments, Page as read October 29, 2026, no revision date shown.dfs.ny.gov, accessed October 29, 2026
  5. Apply for an original individual license, Page as read October 29, 2026.dfs.ny.gov, accessed October 29, 2026
  6. Continuing education, Requirements apply to licenses renewing on or after April 1, 2022.dfs.ny.gov, accessed October 29, 2026

NASAA

  1. NASAA IAR CE map, Page as read October 29, 2026.nasaa.org, accessed October 29, 2026
  2. NASAA Investment Adviser Guide, as read October 29, 2026.nasaa.org, accessed October 29, 2026

U.S. Bureau of Economic Analysis

  1. Regional Price Parities by state (SARPP), SARPP_STATE_2008_2024.csv, 2024 RPPs, last updated February 19, 2026 (new statistics for 2024).apps.bea.gov, accessed October 29, 2026

New York State Department of Labor

  1. Long-Term Occupational Employment Projections, 2024-2034, New York State, 2024-2034 statewide release (refreshed every two years), as read October 29, 2026.dol.ny.gov, accessed October 29, 2026