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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 the IA.

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.

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