Is it necessary qualify all levels in CFA exams to become a financial advisor?

[ravivarma700rv]

Is it necessary qualify all levels in CFA exams to become a financial advisor?

[james.hendrickson]

Ravi, if by CFA, you mean a chartered Financial Analyst, then yes, in the USA you need to pass a series of qualifying examinations.

The process is quite lengthy. There are three exams you need to take, each of which requires at least 300 hours of study and preparation work. In addition, you must have completed a bachelors degree and have at least four years of work experience.

The CFA institute has more here, and TheBalance has a good write up of the process.

[jIM_MI]

Is it necessary qualify all levels in CFA exams to become a financial advisor?

I have been a licensed financial planner in the past. CFA is a certification, not a license. CFP is a different certification, not a license.

There are combinations of federal and state licenses one may have to sell investments and sell advice.

A series 6 or a series 7 is a brokerage license. To work for a broker dealer, you need to pass one of the tests.
series 63 and 65 are state licenses (66 is combination of the 63 and 65). To sell investments and advice in a state, you must past that state's series 63/65/66 exam

I worked for a broker dealer, they "sponsored" my licenses (they held them, I paid for them). I then left for a financial planning firm where only my state licenses were needed, then I started by own RIA (Registered investment advisor) firm and only needed the 63/65/66.

In general, I would NEVER do business with a broker dealer, they cannot be a fiduciary.