Investment Advisers Should Begin Preparations for 2014 Renewals

October 09, 2013

As annual renewal season rapidly approaches, investment advisers should be proactive and begin preparing for renewals by reviewing to make sure the investment adviser is properly registered or notice filed, as applicable, and that its investment adviser representatives are properly licensed with all required state securities regulators.  The IARD Renewal Program serves to facilitate the annual renewal of investment advisers and their investment adviser representatives’ registrations with the appropriate state securities regulators. Although, an investment adviser’s registration, notice filing, and licensing requirements should be reviewed and monitored on an ongoing basis, the annual renewal process should be used as a time to confirm that the investment adviser is properly registered or notice filed (as applicable) and that its representatives are properly licensed.  Additionally, all state registered investment advisers should also review the state requirements to see if branch office registration is required and, if it is, investment advisers should confirm that all branch office locations have been properly registered. 

It is imperative that registered investment advisers ensure they are properly registered or notice filed at all times and that its investment adviser representatives are properly licensed at all times. State investment adviser registrations and notice filings and investment adviser representatives’ licensing statuses expire every year on a calendar basis. All renewal fees are paid during the IARD renewal season. While the U.S. Securities and Exchange Commission (“SEC”) does not charge a registration fee, SEC registered investment advisers must pay the appropriate state fees to notice file with all required state securities regulators and to properly register the investment advisers’ representatives with the required state securities regulators.

In accordance with the 2014 IARD Renewal Program Calendar, as of October 1, 2013, investment adviser firms are encouraged to “review their registered persons to ensure that they have properly and timely reported all appropriate information to Web CRD and IARD and that all open branch offices have individuals assigned to them and they are accurately reported.”

RIA Compliance Consultants can assist your investment adviser with the annual renewal process and provide assistance with preparing and filing the Form ADV annual update amendment when the time comes. If you would like to engage us for these services or would like to learn more about these services, please click here.  If you have questions or would like to further discuss these services, contact your consultant if you are an existing client or click here to schedule a time to speak with one of our consultants if you have not previously worked with RIA Compliance Consultants.

Posted by Bryan Hill
Labels: Annual Amendment, Annual Review, IARD