Series 65 / IAR Registration · Texas
Series 65 in Texas: Registration Requirements
Everything you need to register as an Investment Adviser Representative (IAR) in Texas: 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 Texas
Texas waives the Series 65 exam for IAR applicants who hold one of the following credentials in good standing:
- CFP
- CFA
- ChFC
- PFS
- CIC
Texas 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.
Texas IAR Registration at a Glance
- Regulator
- Texas State Securities Board
- Qualifying Exam
- Series 65 or Series 66 (with Series 7)
- Registration Fee
- $35
- Annual Renewal
- $20
- 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 (notice filing required)
- 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 Texas 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 Texas
- Texas accepts either the Series 65 or the Series 66 (paired with the Series 7).
- IAR registration fee is $35 initial, $20 annual renewal. Investment adviser firm fees are $75 initial / $40 renewal.
- Texas has NOT adopted the NASAA IAR CE model rule; no state CE requirement for IARs registered only in Texas.
- IARs registered in multiple states must follow the most stringent CE rule among those states.
- Texas State Securities Board is known for strong enforcement of advertising and disclosure rules.
Last verified: 2026-05-05
Which exam do I need for IAR registration in Texas?
Texas accepts the Series 65 or Series 66 (with Series 7). Texas also waives the exam for holders of these credentials in good standing: CFP, CFA, ChFC, PFS, CIC.
Does Texas waive the Series 65 for CFP holders?
Yes. Texas waives the Series 65 for active CFP holders in good standing. Texas 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 Texas?
Texas's IAR registration fee is $35 with a renewal fee of $20. 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 Texas require continuing education for IARs?
Texas has not adopted the NASAA IAR CE model rule. IARs registered only in Texas have no state-level CE obligation. IARs also registered in adopting states must follow the most stringent CE requirement among them.
How many Texas clients can an out-of-state adviser have without registering?
Up to 5 Texas clients in any rolling 12-month period, provided the adviser has no place of business in Texas. Texas also requires a notice filing for exempt out-of-state advisers. Texas follows the NSMIA federal client-count standard, but uniquely requires exempt out-of-state advisers to file Form ADV Part 1.B and Form U4 through IARD as a notice filing before engaging in any compensated advisory activity.
Does prior registration in another state qualify me for Texas's exam waiver?
Yes. Texas 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 Texas have to register with the SEC instead of the state?
Texas 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.
- Texas State Securities Board: https://www.ssb.texas.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