Illinois's 155,000+ financial services jobs — complete guide to becoming a licensed advisor in Chicago
Start your career in Chicago with comprehensive Series 7 training, licensing support, and connections to top firms
Chicago is the Midwest's undisputed financial capital and the third-largest US financial center by employment. With Northern Trust headquarters, Goldman Sachs, the CME Group, and 32+ Fortune 500 companies, Chicago offers NYC-caliber career opportunities at a fraction of the coastal cost.
Explore career opportunities across Chicago's key financial districts
Chicago's financial core — Northern Trust HQ, Goldman Sachs, Morgan Stanley, Merrill Lynch, William Blair, and the CME Group. The most concentrated financial advisory market in the Midwest.
Chicago's residential wealth core — private equity executives, hedge fund managers, and corporate leaders. High-density ultra-HNW market with Northern Trust and Goldman Sachs private banking dominating.
Iconic Chicago lakeside suburb corridor with multi-generational wealth, Northwestern University, and corporate executive families. One of the highest per-capita wealth concentrations in the Midwest.
Massive corporate suburb cluster with McDonald's, Allstate, Motorola, and hundreds of Fortune 500 campuses. Dense professional workforce with comprehensive financial planning demand.
Diverse roles and specializations available across Chicago's financial services industry
The premier Midwest FA career path — Northern Trust HQ in Chicago creates career tracks managing multi-generational family wealth with world-class training unavailable anywhere outside Chicago.
Serve Chicago's Loop-based financial executives, private equity partners, and hedge fund managers with complex equity compensation and comprehensive executive financial planning.
Comprehensive wealth management for Chicago's enormous and diverse metro market across all income levels and industries.
Serve the unique Chicago trading community — CME, CBOE, and derivatives traders — with specialized income smoothing, risk management, and wealth planning for variable-income professionals.
Your step-by-step pathway to launching a financial advisor career in Chicago, Illinois
Apply to Chicago broker-dealer firms including branches of Morgan Stanley, Merrill Lynch, Raymond James, Edward Jones, Ameriprise Financial, and Wells Fargo Advisors. FATI connects you with the right Chicago firm based on your goals and background.
Your Chicago firm registers you with FINRA and provides exam prep materials. Study for 6–12 weeks using structured study plans, practice exams, and coaching. 125 questions, 225 minutes, 72% passing score. Most firms cover the $245 exam fee.
Required for Illinois state registration. 60 questions, 75 minutes, 72% passing score. Covers state securities regulations and ethical practices. Most candidates pass within 2–4 weeks after Series 7.
Your Chicago firm submits Form U4 through FINRA's Web CRD system. Includes background check and fingerprinting. Registration typically completes within 1–2 weeks.
Complete your firm's training program and begin building your client base. Most Chicago firms provide leads, mentorship, and ongoing support.
Most candidates secure Chicago firm sponsorship within 30 days, pass both exams within 90 days, and launch their careers within 4–6 months. FATI's structured program and Chicago firm connections accelerate this timeline.
Competitive compensation with strong earning potential in the Chicago market
Chicago entry salaries are the highest in the Midwest. Trading culture creates strong bonus potential even at junior levels.
Established Chicago practice with Loop executives or North Shore estate clients. Chicago provides NYC-caliber client wealth at significantly lower personal cost.
Managing Northern Trust family offices and CME trading wealth. Chicago's top advisors rival NYC peers in income with better quality of life.
Chicago provides the ideal combination: NYC-caliber financial clients and income potential at 35–40% lower cost of living. Northern Trust headquarters creates a career development ecosystem unique to Chicago — world-class training and career advancement in the Midwest's premier wealth management firm.
Common questions about becoming a financial advisor in Chicago, Illinois
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