New Hampshire

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I. Registration Fees.

  • Investment Adviser: $250.
  • Investment Adviser Representative: $130.

II. Financial & Bonding Requirements. An IA with discretionary authority is required to maintain a minimum net worth of $10,000. An IA with custody of client funds or securities is required to maintain of minimum net worth of $35,000 and have audited financial statements.

III. Sole Proprietorships. If an IA is a sole proprietorship and is not formed as an LLC, LP, or similar business form, the proprietor is not required to pay an IAR registration fee or file a Form U4.

IV. Branch Offices. If an IA has branch offices within the state, the IA must register each branch office but is not required to pay a registration fee.

V. De Minimis. An out-of-state IA is not required to register until it has more than 5 clients.

VI. Other Required Documents.

  • Financial statements.
  • List of branch offices in the state.
  • Certificate of formation/articles of incorporation.
  • Specimen copy of all investment advisory contracts.

For additional information, please contact the state securities administrator.

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