Washington Securities Licensing (2026): Exams & Registration
Navigate Washington's securities licensing for broker-dealers, investment advisers, and agents. Understand state-specific requirements, fees, and application processes with the WA DFI.
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Washington requires individuals and firms conducting securities business in the state to be licensed or registered. The Washington Department of Financial Institutions (DFI) Securities Division administers state-level licensing under Washington state law. Licensing generally involves determining the correct category (Broker-Dealer, Investment Adviser, Agent, or Investment Adviser Representative), passing required exams, submitting forms through FINRA's CRD or IARD systems, clearing a background check, and paying state fees. Consult the DFI Securities Division directly at dfi.wa.gov for current fee schedules and processing timelines.
Quick Answer: Washington Securities Licensing Overview
Washington requires individuals and firms that conduct securities business in the state to be licensed or registered. The Washington Department of Financial Institutions (DFI), Securities Division, administers state-level licensing under Washington state law. The DFI coordinates with FINRA's Central Registration Depository (CRD) and the Investment Adviser Registration Depository (IARD) for most application filings.
The four core license categories are:
- Broker-Dealers (BDs): Firms that buy and sell securities for their own account or for customers.
- Investment Advisers (IAs): Firms or individuals that provide investment advice for compensation.
- Securities Salespersons (Agents): Individuals who represent a broker-dealer in securities transactions.
- Investment Adviser Representatives (IARs): Individuals who represent an investment adviser in providing advice.
Getting licensed generally means passing FINRA or NASAA-administered exams, submitting the correct forms through CRD or IARD, clearing a background check, and paying state fees to the DFI. Consult the DFI Securities Division directly at dfi.wa.gov for current fee schedules.
Sources & Verification (5)
- Investment Advisers Act of 1940 (15 U.S.C. §80b-1 et seq.) — federal IA registration framework; firms under $100M AUM generally state-registered (NSMIA §203A).
- Securities Exchange Act of 1934 (15 U.S.C. §78a et seq.) — broker-dealer regulation, anti-fraud, and SEC supervisory authority.
- National Securities Markets Improvement Act of 1996 (NSMIA, Pub. L. 104-290) — preempts state registration of federal covered advisers and securities; states retain anti-fraud.
- Uniform Securities Act (NASAA model) — adopted with variations by most states; governs IAR registration, blue sky filings, and exemptions.
- FINRA Series 65 / 63 / 66 / 7 — uniform state and federal exams administered via Prometric; pass scores and content outlines published by NASAA/FINRA.
Last verified: June 7, 2026
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- Series 65 Exam Prep — Investment Adviser LawThe most common path to becoming a Registered Investment Adviser Rep in any state. Covers Uniform Securities Act, fiduciary duty, and fraud prevention.
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- Series 7 Exam Prep — General Securities RepFINRA's broker-dealer rep license. Required by every state before selling general securities. Recently revised for the post-2018 split format.
- Investment Adviser Compliance Manual — Form ADV & CustodyHow to navigate the SEC/state Form ADV split, custody rule, and code of ethics. The reference RIA firms hand new compliance hires.