With the exception of Wyoming, all states require the registration of investment advisers (IAs) and their investment adviser representatives (IARs). An applicant for investment adviser registration must file Form ADV, Parts 1 & 2, through the Investment Adviser Registration Depository (IARD) and may be required to submit additional materials including advisory contracts and financial statements. The Form ADV should be completed in accordance with the instructions on the form, and amendments must be filed as indicated in the instructions.
An applicant for registration as an investment adviser representative must file a Form U4 in accordance with the instructions on the form. The Form U4 must indicate that the applicant has passed the required competency exams or holds a current acceptable professional designation.
Registration fees must be paid electronically through the IARD system.
The following list of state investment adviser registration information is being provided for your convenience and is not intended as legal advice. Investment advisers and their counsel should consult the laws and rules in each state in which they are registering to verify the accuracy of the information. Questions about the registration requirements should be directed to the appropriate state regulator(s).
Please select a state to review its additional registration requirements.