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 17, 2026
Current
Exam Requirement
State exam requiredRenewal Cycle
See board renewal rulesLicensing Blueprint for Financial Advisor in Michigan
Estimated timeline: Varies by boardCore Requirements
- 1
Education: Varies by state board.
- 2
License Type: Stand-alone license.
Exam and processing details
- State exam required
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 Michigan eligibility requirements for Financial Advisor licensure.
- 2. Complete required education or training (Education: Varies by state board.).
- 3. Pass required examination steps: State exam required.
- 4. Submit the application to Michigan Department of Licensing and Regulatory Affairs~Bureau of Corporations, Securities & Commercial and monitor board communications.
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 Varies by board.
State Hiring Climate (QCEW)
RisingQoQ Employment Change
+2.6%Average Weekly Wage
$1,308Median 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 region| State | Median Salary | Education | Exam | Timeline |
|---|---|---|---|---|
| Michigan | $98,830 | Varies by state board | State exam required | Varies by board |
| Ohio | $82,100 | Degree required | State exam required | Varies by board |
| Indiana | $101,670 | Degree required | Third-party exam required | Varies by board |
| Wisconsin | $115,680 | Varies by state board | State-approved exam | Varies by board |
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 |
|---|---|---|---|
| Michigan | 68 | Medium | State-specific exam conditions may apply. |
| Ohio | 68 | Medium | State-specific exam conditions may apply. |
| Indiana | 68 | Medium | State-specific exam conditions may apply. |
| Wisconsin | 78 | High | Board-specific review required. |
- Reciprocity and transfer rules vary by state board. Verify directly with the agency.
Official Licensing Agency
Official website verified
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 | Varies by board |
| Audio and Video Technicians | $52,240 | Degree required | Varies by board |
| Certified Public Accountant | $77,720 | Degree required | Varies by board |
| Civil Engineer | $85,550 | No educational requirements | Varies by board |
FAQ
How long does it take to become a Financial Advisor in Michigan?
Most applicants finish the licensing path in about Varies by board, 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. 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.
How often do you renew a Financial Advisor license in Michigan?
Current guidance indicates a renewal cycle of See board renewal rules.