Everything you should know before getting your Series 6 license

The Series 6, officially called the Investment Company and Variable Contracts Products Representative Exam, is a securities licensing exam administered by FINRA (the Financial Industry Regulatory Authority). Earning a Series 6 license demonstrates that you have the knowledge and authority to offer certain packaged investment products. The Series 6 license requirements focus on understanding and selling investment vehicles such as:

• Mutual funds: An investment strategy that involves pooling assets and diversifying across stocks, bonds, or other securities.
• Variable annuities: Long-term investment contracts from insurance companies that provide tax-deferred growth and potential retirement income.
• Variable life insurance: A form of insurance where part of each premium is allocated to investments selected by the policyholder, increasing cash value based on performance.
• Unit investment trusts (UITs): A fixed portfolio of securities with redeemable units that generally remain unchanged for the trust’s duration.
• Municipal fund securities: Securities that resemble municipal bonds but differ in that the interest earned is exempt from federal taxation.

Holding a Series 6 license allows you to sell these specific investment products, but it does not permit you to offer individual stocks, bonds, or options. To sell those securities, you would need to pass the Series 7 exam and obtain a Series 7 license.

What is a Series 6 license used for?

If you’re preparing for a career as a financial advisor, insurance agent offering investment products, retirement plan specialist, or bank-based investment representative, obtaining the Series 6 license is often needed. Meeting the Series 6 license requirements allows you to qualify for many roles within large broker-dealer firms or insurance companies, especially if you are just starting out in the financial industry. Because passing the Series 6 exam is an important industry milestone, many new professionals pursue the Series 6 license to access competitive Series 6 license salary opportunities and to advance their financial services careers.

How do I get my Series 6 license?

Get hired by a sponsoring firm

The first step in how to get a Series 6 license is to become affiliated with a FINRA-member firm. You must be sponsored by an approved employer to begin the Series 6 licensing process. Your sponsoring firm will handle your registration through FINRA’s WebCRD system and file Form U4 for you: there’s no need to worry about this paperwork yourself, as your employer manages the entire process.

Pass the SIE (Securities Industry Essentials) exam

As part of the Series 6 licensing process, you’re required to pass the Securities Industry Essentials (SIE) exam before moving on to the Series 6 licensing exam. The SIE exam assesses your basic knowledge of the securities industry and remains valid for four years after passing. You may take the SIE exam before or after joining a sponsoring firm, but it must be completed before your employer can submit Form U4 and officially begin your path toward earning the Series 6 license.

Study for the Series 6 exam

Preparing for the next phase of getting a Series 6 license means studying thoroughly to pass the Series 6 qualification exam. The Series 6 exam consists of 50 scored questions, which you must complete within a 90-minute limit. Key topics include:

• Types of investment products
• Regulatory and ethical business practices
• Client interaction and recordkeeping requirements
• Economic and financial markets

To help you get your Series 6 license, consider using Achievable’s adaptive learning platform for targeted exam prep. Generally, plan for 40 - 60 hours of study over several weeks to ensure you’re ready to succeed on the Series 6 exam.

Schedule and pass the exam

Completing Series 6 licensing involves registering for the actual test through Prometric, following your employer’s submission of required forms. The Series 6 exam fee is $75. Payment may be handled by either your sponsoring firm or yourself, depending on company policy. To earn your Series 6 license, you need a score of 70% or higher on the exam: successfully passing this test is your final step in becoming licensed.

Tips for success

• Start with the SIE: Knock out the fundamentals early so you can focus solely on Series 6 material later. This test is intended to give you solid background knowledge and is a prerequisite for a reason.
• Use practice exams: Simulate test conditions to build endurance and identify weak points. Many resources are available to help you study, including Achievable, which has online resources on the exam’s topics targeted to Series 6 studying.
• Don’t overlook ethics and rules: These are heavily tested and critical to client trust. Some may think that they are implied or common sense, but they are important to study and will be on the test.
• Understand client profiles: Knowing how to apply products to client goals will help both in the exam and your actual job. Real-world applications are important to understand, not just for the test but for your career.

Careers with a Series 6 license

There are several lucrative careers open to professionals who hold a Series 6 license, each offering competitive Series 6 license salary opportunities. One of the most sought-after jobs for Series 6 license holders is working as a financial advisor. In this role, you’ll be qualified to handle many of the investment products and vehicles that individuals use to secure their financial futures, with Series 6 license salary ranges often reflecting the value of your expertise.

Another popular career path for those with a Series 6 license is becoming a life insurance agent, as this license enables you to sell variable life insurance policies. The Series 6 license salary for life insurance agents can vary, but it usually includes both base pay and commission, making it an attractive option for motivated professionals. Investment representatives are also in high demand, and a Series 6 license allows you to offer investment company products and mutual funds to clients. Across these roles, the Series 6 license salary potential is influenced by experience, location, and performance, making this certification a valuable asset for building a rewarding career in the financial industry.

How the Series 6 impacts your career

Increased job opportunities

With a Series 6 license, you open doors to a range of new career opportunities in banks, insurance companies, and investment firms. Many of these organizations prefer or even require candidates who have met the Series 6 license requirements, making this credential highly valuable when pursuing roles in the financial services industry.

Higher earning potential

Licensed reps often qualify for commission-based compensation, sales bonuses, and higher base salaries. Each of these is a very good pay increase based on your performance, and this license helps you to improve your work quality with increased knowledge of these topics. Even in entry-level roles, pay typically ranges from $45,000 to $75,000 or more, depending on the firm and location.

Professional growth

The Series 6 license is often viewed as a foundational step for those starting a financial services career, setting you up to pursue more advanced credentials like the Series 63, Series 65, or Series 7, each of which enables broader investment advisory responsibilities. Successfully passing the Series 6 exam demonstrates your commitment to professional growth and can open doors to new opportunities within the industry. Earning your Series 6 license early on not only helps you establish trust and credibility with clients, but it also gives you a strong advantage when you choose to expand your qualifications down the line.

Resume builder

Holding a Series 6 license demonstrates a strong commitment to compliance, ethics, and exceptional client service within the financial services industry. Beyond sales positions, the Series 6 license is highly valued in compliance, operations, and financial planning roles, giving professionals a distinct advantage in these areas. As mentioned above, your knowledge of ethical standards and industry practices will be thoroughly evaluated. Earning this license is evidence of your expertise in these crucial principles.

Conclusion

The Series 6 license is more than just a regulatory requirement; it serves as a powerful catalyst for career growth in financial services. Whether you are selling mutual funds at a bank branch or developing lasting client relationships as a financial advisor, holding a Series 6 license enhances your professional credibility, increases your earning potential, and paves the way for long-term advancement. With thorough preparation and the right study resources, you can confidently pass the exam and build a rewarding career in the financial industry.