You don't need a sponsor for Series 65. In my home state of Oregon, you have to pass the exam, and you have to be 'affiliated with a registered investment advis

You don't need a sponsor for Series 65. In my home state of Oregon, you have to pass the exam, and you have to be 'affiliated with a registered investment advising business', but this business can be owned by you. Which means that, if you take the exam, and register a corporation owned by you with the state (and pay a nominal tax of a few hundred dollars), post a 10k refundable bond, and maintain books properly, you can invest in previously inaccessible vehicles. Is this work... yes. But the capital requirements are so low that it broadens access to many more people. I'd expect companies to start forming around getting people their Series 65 and allowing them to affiliate themselves with the business for a fee. This is still significantly better in terms of accessibility than the $1million wealth requirement or income >$200k.