Application Fee
See agencyVerified by MI Board of Business
Financial Advisor Licensing in Michigan
Review current requirements, exam details, renewal cycle, and salary outlook for financial advisor in Michigan, including See agency and board contact links.
Last verified: Feb 12, 2026
Exam Requirement
State exam requiredRenewal Cycle
See board renewal rulesLicensing Blueprint for Financial Advisor in Michigan
Estimated timeline: 6-24 monthsCore Requirements
- License Type: Stand-alone license
- Education: Varies by state board
- Examination: State exam required
- Application Fee: See agency
- Experience: Work experience required
- Background Check: No criminal record prohibitions
Application Snapshot
- Licensing Authority
Michigan Department of Licensing and Regulatory Affairs • Bureau of Corporations, Securities & Commercial
- Current Filing Fee
See agency
- Renewal Cycle
See board renewal rules
- Salary Position
$98,830 median (3% below national)
- State Salary Rank
#24 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 Michigan
With a median salary of 98,830, Financial Advisors in Michigan earn 3% below the national median of $102,140. Michigan ranks #24 among 50 states. The typical licensing timeline is 6-24 months.
Median annual salary
$98,830Hourly estimate
$47.513% below national median
Difference: -$3,310
Percentile Distribution
Annual compensationFinancial Advisor Salary Ranking
#24 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 regionLicense 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 |
|---|---|---|---|
| Michigan | 54 | Low | State-specific exam conditions may apply. Documented experience may be required. |
| Ohio | 50 | Low | State-specific exam conditions may apply. Documented experience may be required. |
| Indiana | 50 | Low | State-specific exam conditions may apply. Documented experience may be required. |
| Wisconsin | 72 | Medium | Background check or criminal history review is indicated. |
- License status indicator: Active.
- Reciprocity and transfer rules vary by state board. Verify directly with the agency.
Official Licensing Agency
Michigan Department of Licensing and Regulatory Affairs • Bureau of Corporations, Securities & Commercial
P.O. Box 30018, Lansing, MI, 48909
Phone: 5172419221
Related Careers in Michigan
| Profession | Median Salary | Education | Timeline |
|---|---|---|---|
| Architect | $82,170 | Degree required | 6-24 months |
| Certified Public Accountant | $77,720 | Degree required | 6-24 months |
| Civil Engineer | $85,550 | No educational requirements | 6-24 months |
| Funeral Director | $60,700 | Degree required | 6-24 months |
FAQ
How long does it take to become a Financial Advisor in Michigan?
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 exams are required for Financial Advisors in Michigan?
Michigan lists State exam required as part of the licensure process for Financial Advisors.
What is the typical Financial Advisor salary in Michigan?
The median annual salary for Financial Advisors in Michigan is 98,830.
How does the Financial Advisor salary in Michigan compare to the national average?
Financial Advisors in Michigan earn 3% below the national median of $102,140, with a state median of 98,830.
How many Financial Advisors work in Michigan?
Michigan employs approximately 6,030 Financial Advisors according to BLS data.
Can I transfer my Financial Advisor license to Michigan 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 Michigan?
The licensing agency is Michigan Department of Licensing and Regulatory Affairs / Bureau of Corporations, Securities & Commercial. Review agency details at https://www.michigan.gov/lara/0,4601,7-154-89334_61343---,00.html.