The alternator needs a magnetic field to produce electrical power.
On the 650, that field coil is the rotor and is fed power via two brushes on slip rings.
The brushes could be worn/ and or the slip ring surface could be glazed with an insulating film. So, clean the slip ring surface with a fine abrasive and make surw there is enough brush material left to provide good contact.
Then measure the field coil resistance. (You could actually begin at this point, too.) I don't have specs here, but I think it is about 6.8 ohms, plus minus 10%. If you get significantly lower numbers, the coil draws more power than the regulator can supply, causing damage to that unit as well. Higher resistance numbers an you should then the slip ring/brushes noted above.
If your resistances check properly all the way to the disconnected regulator terminals, turn on the ignition and measure the voltage that the regulator provides the alternator rotor. With the motor stopped, it should be very close to the battery voltage. If not, check the voltage going TO the regulator for battery voltage. Voltage in and no voltage out = a bad regulator.
Cheers,