I. Registration Fees.
- Investment Adviser: $300.
- Investment Adviser Representative: $65.
II. Minimum Net Worth. IAs with discretion must have a minimum net worth of $10,000. IAs with custody must have a minimum net worth of $35,000.
III. Sole Proprietorships. IAs structured as sole proprietors must file form ADV and form U4, and must pay the registration fee for both the IA and IAR.
IV. De Minimis. An out-of-state IA is not required to register until it has more than 5 clients.
V. Other Required Documents.
- Original signed consent to service of process.
For additional information, please contact the state securities administrator.