Series 65 / IAR Registration · Alabama
Series 65 in Alabama: Registration Requirements
Everything you need to register as an Investment Adviser Representative (IAR) in Alabama: which exam qualifies, fees, financial requirements, and whether your professional
designation can waive the Series 65. New to the exam? Start with what the Series 65 actually covers or our step-by-step IAR registration guide.
Credential Waivers in Alabama
Alabama waives the Series 65 exam for IAR applicants who hold one of the following credentials in good standing:
- CFP
- CFA
- ChFC
- PFS
- CIC
Alabama grants the standard NASAA exam waiver for IARs holding a CFP, CFA, ChFC, PFS, or CIC in good standing.
See our full guide to Series 65 exam waivers (CFP, CFA, ChFC, PFS, CIC) for the credential-by-credential rules and how to file.
Alabama IAR Registration at a Glance
- Regulator
- Alabama Securities Commission
- Qualifying Exam
- Series 65 or Series 66 (with Series 7)
- Registration Fee
- $70
- Annual Renewal
- $70
- Continuing Education
- Not currently required
- Surety Bond firm-level
- Not required
- Net Worth Requirement firm-level
- Not required
- Filing Method
- IARD
- De Minimis Exemption
- Up to 5 clients / 12 mo
- State vs SEC AUM Threshold firm-level
- $100M ($100M federal default)
- Prior-Registration Reciprocity
- 2-year window from prior IAR registration
IARD Renewal Window
IAR registration in Alabama is renewed annually through the IARD system on the same cycle every state uses:
- Early November: Preliminary renewal statements post on FINRA Gateway.
- Early December: Preliminary statement payment deadline (early December each year; submit a few days before to allow processing).
- January 1: Registrations not funded by the December deadline are terminated for the new year.
- Early January: Final renewal statements post, reflecting any post-deadline changes.
- Late January: Final statement payment deadline.
Exact 2026/2027 dates are published in the annual IARD Renewal Bulletin. Verify current dates at iard.com/renewal-program.
What's Specific to Alabama
- IAR registration and annual renewal fees are $70 per representative, filed through the IARD/CRD system.
- Alabama has not adopted the NASAA IAR CE Model Rule as of 2026 (no annual continuing education requirement for IARs registered solely in Alabama).
- The Alabama Securities Commission is an independent agency (not housed under the Secretary of State) and is historically active in enforcement, particularly around senior investor protection and affinity fraud.
Last verified: 2026-05-05
Which exam do I need for IAR registration in Alabama?
Alabama accepts the Series 65 or Series 66 (with Series 7). Alabama also waives the exam for holders of these credentials in good standing: CFP, CFA, ChFC, PFS, CIC.
Does Alabama waive the Series 65 for CFP holders?
Yes. Alabama waives the Series 65 for active CFP holders in good standing. Alabama grants the standard NASAA exam waiver for IARs holding a CFP, CFA, ChFC, PFS, or CIC in good standing.
What does it cost to register as an IAR in Alabama?
Alabama's IAR registration fee is $70 with a renewal fee of $70. Additional IARD system fees apply at the federal level. Annual renewal runs through IARD: preliminary statements post in early November, payment is due in early December, and final statements are reconciled in late January.
Does Alabama require continuing education for IARs?
Alabama has not adopted the NASAA IAR CE model rule. IARs registered only in Alabama have no state-level CE obligation. IARs also registered in adopting states must follow the most stringent CE requirement among them.
How many Alabama clients can an out-of-state adviser have without registering?
Up to 5 Alabama clients in any rolling 12-month period, provided the adviser has no place of business in Alabama. Alabama follows the NSMIA federal standard: an out-of-state adviser without a place of business in Alabama and fewer than six clients who are residents in the previous 12 months is exempt from registration.
Does prior registration in another state qualify me for Alabama's exam waiver?
Yes. Alabama exempts applicants who have been actively registered as an IAR in another U.S. jurisdiction within the past 2 years. The reciprocity does not apply if your registration has lapsed beyond that window.
When does an IA firm based in Alabama have to register with the SEC instead of the state?
Alabama follows the standard federal "mid-sized adviser" rule: state-registered up to $100M RAUM, must register with the SEC at $110M, and may stay state-registered until dropping below $90M after SEC registration.
Sources & Verification
This page was last verified on 2026-05-05. Fees, CE, and waiver rules change. Always confirm with the regulator before relying on these figures for an actual filing.
- Alabama Securities Commission: https://asc.alabama.gov/
- NASAA (exam waivers, IAR CE model rule, and state IA registration index): nasaa.org/industry-resources/investment-advisers
- IARD (annual renewal program and bulletin): iard.com/renewal-program