Saturday, June 10, 2023
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Perhaps the most often asked question we receive is about sponsorship. Sponsorship is probably a misnomer because what you really need is an employer, who is typically a member of FINRA, to employ and then sponsor you. It is true that there are some securities licenses that do not require sponsorship from a FINRA or exchange member firm. Unsponsored exams include the Series 3, Series 63, and Series 65. However, if you would like to take these exams, you still need to fill out a registration form (Form U-10) and pay the appropriate testing fee. The Form U-10 may be downloaded online from FINRA.

There are also some organizations that will sponsor you for a "fee." Be forewarned, that the majority of organizations offering this type of sponsorship will charge between $500.00 - $1000.00.

We realize that it is somewhat frustrating that you need a "sponsor" to take the Series 7 exam, however, we remind you that we didn't make the rules and are only trying to convey accurate information.

Discount Brokers

Fidelity Investments

Charles Schwab

Full Service Brokers

Bank of America (Merrill Lynch)

Edward Jones

Morgan Stanley Smith Barney

Raymond James


Wells Fargo