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Professional Advisor Registration Requirements

US Registration

Registration requirements for professional advisors with operations in the US generally are as follows:

SEC Securities Registration

An advisor generally must register with the SEC as an RIA (Registered Investment Advisor) if you:

  1. Manage > $100 million in assets; or
  2. Serve as an investment advisor to a registered investment company; or
  3. If your "principal office or place of business" is in a state without an investment advisor statute or that does not conduct examinations of advisors.

The SEC can be contacted directly at (202)-551-6999 or online at www.sec.gov/divisions/investment/iard/register.shtml

NFA Futures Registration

You may be required to register with the NFA, unless you qualify for an exemption.

State Securities Registration

If you manage between $25 million and $100 million, the SEC requires you to register in your state(s). There may be other situations in which the SEC requires you to register in your state(s). In addition, state "blue sky" laws may require you to register in your state(s). For more information regarding state registration requirements, please contact the North American Securities Administrators Association at (202) 737-0900 or online at http://www.nasaa.org. You may also contact the relevant state securities agency and obtain additional information about a particular state's registration requirements by visiting the relevant state website below:

State Website
Alabama Alabama Securities Commission
Alaska Alaska Department of Commerce, Community, and Economic Development
Arizona Arizona Corporation Commission, Securities Division
Arkansas Arkansas Securities Department
California California Department of Corporations
Colorado Colorado Division of Securities
Connecticut Connecticut Department of Banking
Delaware Delaware Department of Justice
District of Columbia Department of Insurance, Securities & Banking
Florida Florida Office of Financial Regulation
Georgia Georgia Secretary of State, Division of Business Services
Hawaii Hawaii Department of Commerce & Consumer Affairs, Securities Division
Idaho Idaho Department of Finance
Illinois Illinois Office of the Secretary of State, Securities Department
Indiana Indiana Secretary of State, Securities Division
Iowa Iowa Insurance Division, Securities Bureau
Kansas Kansas Office of the Securities Commissioner
Kentucky Kentucky Department of Financial Institutions
Louisiana Louisiana Office of Financial Institutions
Maine Department of Professional & Financial Regulation, Office of Securities
Maryland Maryland Office of the Attorney General, Division of Securities
Massachusetts Massachusetts Securities Division
Michigan Michigan Office of Financial & Insurance Regulation
Minnesota Minnesota Department of Commerce
Mississippi Mississippi Office of the Secretary of State, Securities & Charities Division
Missouri Missouri Office of the Secretary of State, Securities Division
Montana Montana Commissioner of Securities & Insurance
Nebraska Nebraska Department of Banking & Finance
Nevada Nevada Secretary of State, Securities Division
New Hampshire New Hampshire Bureau of Securities Regulation
New Jersey New Jersey Department of Law & Public Safety, Bureau of Securities
New Mexico New Mexico Regulation & Licensing Department, Securities Division
New York New York Office of the Attorney General, Investor Protection Bureau
North Carolina North Carolina Department of the Secretary of State, Securities Division
North Dakota North Dakota Securities Department
Ohio Ohio Department of Commerce, Division of Securities
Oklahoma Oklahoma Securities Commission
Oregon Oregon Department of Consumer & Business Services, Division of Finance & Corporate Securities
Pennsylvania Pennsylvania Securities Commission
Rhode Island Rhode Island Department of Business Regulation
South Carolina South Carolina Attorney General
South Dakota* South Dakota Department of Labor & Regulation, Division of Securities
*Per the South Dakota Department of Labor & Regulation, any securities advisor who resides in the state and receives compensation for advising others must be registered.
Tennessee Tennessee Department of Commerce & Insurance, Securities Division
Texas Texas State Securities Board
Utah Utah Department of Commerce, Division of Securities
Vermont Vermont Department of Banking, Insurance, Securities & Health Care Administration
Virginia Virginia State Corporation Commission, Division of Securities & Retail Franchising
Washington Washington Department of Financial Institutions, Securities Division
West Virginia West Virginia Office of the State Auditor, Securities Division
Wisconsin Wisconsin Department of Financial Institutions, Division of Securities
Wyoming Wyoming Secretary of State, Securities Division