INVESTMENT ADVISERS (State Registrants) IA Essential Information)
Filing fee: $250.00 through electronic filing, Investment Adviser Registration Depository (IARD)
File electronically – Form
ADV through Investment Adviser Registration Depository, (IARD). Please refer to FINRA (www.iard.com) for all applicable systems fees.
following documents shall be submitted directly to the Alabama Securities
copies of the applicant’s client agreement forms. (Client Agreement Guidelines)
sheet prepared in accordance with GAAP, dated not more than 90 days prior to
filing of application. All investment
advisers must maintain a minimum net capital of $10,000.00 or post a $50,000.00
to balance sheet: oath by duly
authorized officer stating that such statement is true and correct to the best
of their knowledge, information, and belief.
statement regarding whether the firm maintains custody and/or discretionary
authority should be provided.
surety bond in the amount of $50,000.00 on Form
U-SB, payable to the State of Alabama
a. The investment adviser maintains custody of client funds or
b. The investment adviser has discretionary authority over
customer accounts; or
c. The investments adviser does not maintain the minimum net
capital of $10,000.00.
the applicant is an out-of-state corporation:
undertaking or affidavit as to whether the applicant has branch offices or
representatives residing in Alabama.
certificate to do business as a foreign corporation is required if the
applicant has branch offices or representatives residing in this state. This certificate is available through the
Alabama Secretary of State’s office, (334) 242-5324
of applicant’s brochure if clients will receive a brochure in addition to or
instead of Part II of Form ADV
undertaking or affidavit stating the number and type, if any, of Alabama
11. Submission of forms U-4 through the IARD System for all investment adviser representatives doing business in Alabama.