I. Registration Fees.
- Investment Adviser: $100.
- Investment Adviser Representative: $25.
II. Financial & Bonding Requirements. An IA is not required to maintain a bond or satisfy a minimum net worth requirement. Audited financial statements are required for IAs that have custody of client funds and IAs that require advance payment of fees in excess of $500 or 6 months in advance. Otherwise, an unaudited balance sheet is required.
III. Sole Proprietorships. If an IA is a sole proprietorship, registration fees must be paid for both the IA and the IAR. In addition, a form U4 must be filed for the IAR.
IV. De Minimis. An IA is not required to register until it has more than 5 clients, as long as IA does not have a physical presence in the state. All IA’s with a business location in Indiana are required to register.
V. Other Required Documents.
- Fingerprints.
- Client Agreements.
- Books and Record Location (if applicable).
For additional information, please contact the state securities administrator.
