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I. Registration Fees.

  • Investment Adviser: $200.
  • Investment Adviser Representative: $50.

II. Financial & Bonding Requirements. If an IA has no discretion or custody, the IA must be solvent. If an IA has discretionary authority, the IA must maintain a minimum net worth of $10,000 or obtain a $10,000 surety bond. If an IA has custody of client funds or securities, the IA must have a minimum net worth of $35,000 or obtain a $30,000 surety bond. All IA’s must also submit the most recent audited balance sheet as of the end of the adviser’s fiscal year. If the audited balance sheet is dated more than 45 days prior to ADV submission, an unaudited balance sheet must also be submitted.

III. Sole Proprietorships. If an IA is a sole proprietorship, it must pay both the IA registration fee of $200 and the IAR registration fee of $50.

IV. De Minimis. An out-of state IA with no place of business in Mississippi is not required to register until it has more than 5 clients.

V. Other Required Documents.

  • Consent of Service.
  • Copy of required surety bond, if applicable.
  • Certificate of Formation/Articles of Incorporation.
  • URL of applicant.
  • Copies of all current standard client contracts.

For additional information, please contact the state securities administrator.

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