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Representatives

Oregon does not recognize the "independent contractor" status for persons working in the investment adviser industry. Every individual must be licensed to, and supervised by, the employing firm.

Prior to applying for a license as an investment adviser representative (IAR) an individual must demonstrate competency, either through passing scores on acceptable examinations or the holding of a designation listed in OAR 441-175-0120. Acceptable exams are:

  • Old" Series 65 prior to 1/1/2000 and Series 7
  • "New" Series 66 after 1/1/2000 and Series 7
  • "New" Series 65 after 1/1/2000

Acceptable designations (which must be current) are:

  • Chartered Financial Analyst (CFA)
  • Certified Financial Planner (CFP)
  • Chartered Financial Consultant (ChFC)
  • Chartered Investment Counselor (CIC)
  • Personal Financial Specialist (PFS)

Click here for a more detailed description of these designations.

An application for licensing consists of Form U-4, proof of acceptable exams or designation, and a license fee of $50. For any IA firm, the application must be electronically submitted, and the licensing fee of $50 will be submitted to Oregon through the IARD system.