Application Fee
See agencyVerified by IL Board of Business
Financial Advisor Licensing in Illinois
Review current requirements, exam details, renewal cycle, and salary outlook for financial advisor in Illinois, including See agency and board contact links.
Last verified: Feb 12, 2026
Exam Requirement
State-approved examRenewal Cycle
See board renewal rulesLicensing Blueprint for Financial Advisor in Illinois
Estimated timeline: 6-24 monthsCore Requirements
- License Type: Stand-alone license
- Education: Varies by state board
- Examination: State-approved exam
- Application Fee: See agency
- Background Check: No criminal record prohibitions
Application Snapshot
- Licensing Authority
Illinois Secretary of State Securities Department
- Current Filing Fee
See agency
- Renewal Cycle
See board renewal rules
- Salary Position
$104,310 median (2% above national)
- State Salary Rank
#11 of 50 states
Step-by-Step Process (4)
- 1. Meet baseline eligibility requirements.
- 2. Complete approved education/training requirements.
- 3. Pass required exam(s) and submit application.
- 4. Maintain and renew license according to board rules.
Salary Insights in Illinois
With a median salary of 104,310, Financial Advisors in Illinois earn 2% above the national median of $102,140. Illinois ranks #11 among 50 states. The typical licensing timeline is 6-24 months.
State Hiring Climate (QCEW)
RisingQoQ Employment Change
+2.1%Average Weekly Wage
$1,451Median annual salary
$104,310Hourly estimate
$50.152% above national median
Difference: +$2,170
Percentile Distribution
Annual compensationFinancial Advisor Salary Ranking
#11 of 50 statesfor Financial Advisor median salary
| Rank | State | Median Salary |
|---|---|---|
| #1 | New York | 167,970 |
| #2 | Idaho | 136,440 |
| #3 | California | 128,650 |
| #4 | Delaware | 128,170 |
| #5 | New Jersey | 123,690 |
Nearby States Comparison
Financial Advisor licensing across the region| State | Median Salary | Education | Exam | Timeline |
|---|---|---|---|---|
| Illinois | $104,310 | Varies by state board | State-approved exam | 6-24 months |
| Wisconsin | $115,680 | Varies by state board | State-approved exam | 6-24 months |
| Iowa | $81,790 | Specific course required | Both state and third-party exams required | 6-24 months |
| Missouri | $84,040 | Varies by state board | State-approved exam | 6-24 months |
| Kentucky | $79,100 | Varies by state board | State-approved exam | 6-24 months |
| Indiana | $101,670 | Degree required | Third-party exam required | 6-24 months |
License by Endorsement
Transfer requirements are state-specific. Use this quick matrix as a planning signal, then verify final endorsement rules with each board.
| State | Reciprocity Score | Tier | Notes |
|---|---|---|---|
| Illinois | 72 | Medium | Background check or criminal history review is indicated. |
| Wisconsin | 72 | Medium | Background check or criminal history review is indicated. |
| Iowa | 56 | Medium | State-specific exam conditions may apply. Documented experience may be required. |
| Missouri | 78 | High | Board-specific review required. |
| Kentucky | 78 | High | Board-specific review required. |
| Indiana | 50 | Low | State-specific exam conditions may apply. Documented experience may be required. |
- License status indicator: Active.
- Reciprocity and transfer rules vary by state board. Verify directly with the agency.
Official Licensing Agency
Illinois Secretary of State Securities Department
Capitol Building, Room 213, Springfield, IL, 62756
Phone: 2177822256
Related Careers in Illinois
| Profession | Median Salary | Education | Timeline |
|---|---|---|---|
| Architect | $79,320 | No educational requirements | 6-24 months |
| Certified Public Accountant | $79,300 | Degree required | 6-24 months |
| Civil Engineer | $97,640 | No educational requirements | 6-24 months |
| Funeral Director | $60,680 | Degree required | 6-24 months |
FAQ
How long does it take to become a Financial Advisor in Illinois?
Most applicants finish the licensing path in about 6-24 months, but timing can change based on education track, exam scheduling, and board processing.
What is the typical Financial Advisor salary in Illinois?
The median annual salary for Financial Advisors in Illinois is 104,310.
How does the Financial Advisor salary in Illinois compare to the national average?
Financial Advisors in Illinois earn 2% above the national median of $102,140, with a state median of 104,310.
How many Financial Advisors work in Illinois?
Illinois employs approximately 10,410 Financial Advisors according to BLS data.
Can I transfer my Financial Advisor license to Illinois from another state?
Transfer requirements vary by board. License status indicator: Active. Reciprocity and transfer rules vary by state board. Verify directly with the agency.
Who is the licensing agency for Financial Advisors in Illinois?
The licensing agency is Illinois Secretary of State Securities Department. Review agency details at http://www.cyberdriveillinois.com/.