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Investment Adviser Representatives: How To Register

Investment Adviser Representatives: How To Register

  1. Examination Requirement:  Michigan requires the Series 65 examination. The exam must be passed within the 2 year period preceding the date of application.  Exceptions are granted for the following reasons:

    • if the Series 66 exam was passed within the 2 year period preceding the date of application.  However, an active Series 7 exam is required with the Series 66 exam.
    • if an IAR has been registered within the preceding two years in another state, as long as the state of registration also required the applicant to pass the S65 exam.
    • if an IAR has one of the professional designation found on the U-4 form or listed in Transition Order No. 09-049-M
Note:  if you meet one of the exam exceptions listed above and your registration status on CRD indicates  deficient, please notify our office of the deficiency by email or fax 517-241-6356.
  1. Application:  Submit a Form U-4 electronically through FINRA's nationwide database known as the Central Registration Depository (CRD) System. The employing investment adviser firm should have knowledge of this process; however, you may contact FINRA for further information at 301-590-6500. All forms to apply or withdraw an IAR registration are available through FINRA's website. (there is no fingerprint card requirement for Michigan IAR's)
     
  2. Fee:  IAR registration fees are $65. This fee is deducted automatically from the employing firm's account with FINRA and forwarded to Michigan.