CPA/PFS FINRA Series 65 Exam Waiver Information

If you hold the PFS credential:

You can apply to FINRA for a waiver of the Series 65 licensing exam.

The AICPA sends a weekly file to FINRA which includes all PFS credential holders who have updated their AICPA profile to include their FINRA CRD number.

The FINRA CRD field on your profile can be updated by either:

  • Including the CRD number on your original PFS credential application, or
  • Updating your online AICPA profile:
    • Go to www.aicpa.org and sign in
    • Click on My Account in the menu bar at the top of the home page
    • Click on Professional Information link in the Profile and Settings box on the left side of page
    • Add your individual CRD# to the My FINRA CRD# text box
    • Scroll down and click the orange Save button – leaving page without saving will NOT save your changes

When you file FINRA’s Form U-4, check the box that indicates you hold the PFS credential; FINRA will compare your U-4 information against the AICPA file (authorizing the Series 65 waiver).

If you receive notice that FINRA does not have a record of your PFS, it may be due to a missing/incorrect CRD number in your AICPA profile. Update your profile as indicated above (or contact the AICPA service center at 888.777.7077) then resubmit the U-4 to FINRA.

If you need to register with your state securities regulator:

Please note the PFS credential is specifically accepted by statute as a waiver for the Series 65 exam in 41 of the 53 US states/jurisdictions. The remaining 12 fall into 2 categories:

  1. These 8 states/jurisdictions include the PFS in their statutes though the language is couched in terms of “may” grant/qualify for a waiver.  Therefore, there may certain instances where a PFS holder may have to pass the exam or provide additional information.
    • Alaska, Arkansas, District of Columbia, Hawaii, Massachusetts, Missouri, Nevada, New Jersey
  2. These 4 jurisdictions don’t provide for any waivers by statute, but may have a regulation, order, or internal policy related to the PFS.
    • Montana, North Dakota, Oklahoma, and Puerto Rico

Return to the CPA/PFS Credential Overview Page.

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