Series 65 / IAR Registration · New York
Series 65 in New York: Registration Requirements
Everything you need to register as an Investment Adviser Representative (IAR) in New York: 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 New York
New York waives the Series 65 exam for IAR applicants who hold one of the following credentials in good standing:
- CFP
- CFA
- ChFC
- PFS
- CIC
New York exempts IAR applicants holding a CFP, CFA, ChFC, PFS, or CIC in good standing from the Series 65 exam.
See our full guide to Series 65 exam waivers (CFP, CFA, ChFC, PFS, CIC) for the credential-by-credential rules and how to file.
New York IAR Registration at a Glance
- Qualifying Exam
- Series 65 or Series 66 (with Series 7)
- Registration Fee
- $200
- Annual Renewal
- $200
- Continuing Education
- Not currently required
- Surety Bond firm-level
- Not required
- Net Worth Requirement firm-level
- Not required
- Filing Method
- IARD + state
- De Minimis Exemption
- Up to 5 clients / 12 mo
- State vs SEC AUM Threshold firm-level
- $25M (lower than the $100M federal default)
- Prior-Registration Reciprocity
- 2-year window from prior IAR registration
IARD Renewal Window
IAR registration in New York 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 New York
- Effective February 1, 2021, IARs must register with the NY Attorney General through the WebCRD/IARD system.
- Initial and annual filing fee for each IAR is $200, paid through IARD.
- New York has not adopted the NASAA IAR CE model rule (no state CE requirement for IARs registered only in New York).
- NY-domiciled IA firms must register with the SEC at $25M AUM (not the standard $100M) because the NY Investor Protection Bureau does not examine state-registered IAs.
- Federal-covered advisers file notice through IARD only; state-registered IAs file with both IARD and the state.
Last verified: 2026-05-05
Which exam do I need for IAR registration in New York?
New York accepts the Series 65 or Series 66 (with Series 7). New York also waives the exam for holders of these credentials in good standing: CFP, CFA, ChFC, PFS, CIC.
Does New York waive the Series 65 for CFP holders?
Yes. New York waives the Series 65 for active CFP holders in good standing. New York exempts IAR applicants holding a CFP, CFA, ChFC, PFS, or CIC in good standing from the Series 65 exam.
What does it cost to register as an IAR in New York?
New York's IAR registration fee is $200 with a renewal fee of $200. 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 New York require continuing education for IARs?
New York has not adopted the NASAA IAR CE model rule. IARs registered only in New York have no state-level CE obligation. IARs also registered in adopting states must follow the most stringent CE requirement among them.
How many New York clients can an out-of-state adviser have without registering?
Up to 5 New York clients in any rolling 12-month period, provided the adviser has no place of business in New York. New York follows the NSMIA federal standard: advisers without a NY place of business that have served fewer than six NY-resident clients in the prior 12 months are exempt. Excludes financial institutions and institutional buyers from the count.
Does prior registration in another state qualify me for New York's exam waiver?
Yes. New York 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 New York have to register with the SEC instead of the state?
New York-based investment adviser firms must register with the SEC once they reach $25M in regulatory assets under management, well below the $100M federal threshold most states use. This is because the Department of Law does not examine state-registered IAs, so SEC oversight kicks in earlier.
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.
- Department of Law, Investor Protection Bureau: https://ag.ny.gov/about/about-office/economic-justice-division
- 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