Series 63: Investment Advisers Act Of 1940

Taken from our Series 63 Online Guide

Investment Advisers Act of 1940

As mentioned earlier, the Investment Advisers Act of 1940 requires the registration of people and companies giving investment advice to the public for a fee. This stands in contrast to the Securities Exchange Act of 1934, which regulates firms and individuals acting as broker-dealers and earning their revenue through commissions and markups.

Whether an adviser must register under the Investment Advisers Act of 1940 comes down to whether or not the adviser answers yes to all three of the following questions:

• Does it provide investment advice? First and foremost, does someone give advice relating to the purchase, sale, or management of investments?
• Is the adviser actually in the business of providing advice? Incidental advice, given in the course of offering other non-investment advice, does not require someone to register. The act specifically notes that lawyers, accountan

+ Read More

More Series 63 Info

What are people saying?

Create an Account

Since you're reading about Series 63: Investment Advisers Act Of 1940, you might also be interested in:

Series 24 - 2.2.2.8. Holding Customer Mail

Series 79 - Confidentiality Agreement

Series 51 - Periodic Statements for Municipal Fund Securities

Series 65 - Earnings Before Taxes

Series 65 - Definition of Agent

Please Enable Javascript
to view this content!

Site Login

TESTIMONIALS

What are people saying?

I used the Solomon Series 63 prep and passed with confidence. I highly recommend following the 10 day study plan.

Melissa

Previously I used another prep company for the Series 63 and did not pass. Second time around I used Solomon and passed! What's more, I felt much more confident from taking the practice exams and working towards a higher and higher probability rate of passing. Thank you Solomon! I'll definitely use you again with any future security exams.

Max Thomas, Finalis / Evalla Advisors LLC. Los Angeles, CA

Great job with the Series 63 study material. I read the study guide, took notes against it, made flashcards and did tons of online tests just as the material suggested. Following the outline worked and I passed with plenty of room to spare. In particular, being able to access questions online is worlds better than how I remember studying for other exams in the past.

Tom L., Atlanta, GA

I relied on the Solomon Exam Prep materials to pass the Series 79 and 63. The materials are first-rate, especially the practice exams, video lectures, and recommended study plans. The staff members (including the owner) were always responsive and helpful. Thank you, Solomon.

Bob Dale, Austin Dale Group, Austin, TX

Solomon has been the gold standard for our team for studying and passing! The information was presented clearly and everyday language. I did take the series 6 twice, due to testing anxiety, but I passed the 6 with 73%. I took my 63 one month later, and passed with 82% !!

Ciarra DiPiazza, CB Financial Services, Tacoma, WA

I just took the Series 63 last week, for the first time. I passed with a grade of 87%. The only study guide I used was your audio book which I listened to on the way to work everyday. I have never worked in the securities industry before, and I had no existing knowledge of anything related to securities law. Everything I know about the subject I learned from your audio book. I will always look to your exam preps for my future test prep needs.

David Laurie, Houston, TX