I. Registration Fees.
- Investment Adviser: $200.
- Investment Adviser Representative: $50.
II. Financial & Bonding Requirements. IAs must be solvent with a minimum net worth of $5,000 and submit a verified balance sheet.
III. Sole Proprietorships. If an IA is a sole proprietorship, it must file a U4 and pay registration fees for both the IA and the 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 Financial Statements.
- Original Affidavit of prior activity.
- Original Designation of supervisor.
- Advisory Client Contracts.
For additional information, please contact the state securities administrator.
