Preliminary Renewal Statements Available Monday

November 12, 2015

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Starting Monday, November 16, 2015, a registered investment adviser firm can access, via its Investment Adviser Registration Depository (IARD) account, its Preliminary Renewal Statement for 2016 renewals.  The Preliminary Renewal Statement must be paid, in full, by Friday, December 18, 2015.  Since it takes approximately two (2) days for a payment to post to the IARD account, your firm’s payment should arrive at the Financial Industry Regulatory Authority (FINRA) no later than Wednesday, December 16, 2015, to ensure that funds are posted to your firm’s IARD account by Friday, December 18, 2015.

Unfortunately, every year there are investment advisor firms that fail to submit renewal fees through their IARD accounts in a timely fashion, and almost all state securities regulators will automatically terminate these registered investment adviser firms and their investment adviser representatives for failing to pay their renewal fees.  Contacting each state securities regulator after such a failure to renew can be time intensive and potentially expensive since a state securities regulator typically has the authority to require a new registration application and prohibit the charging of investment advisory fees as long as the investment adviser and its representatives are unregistered.

To help avoid problems with your investment adviser’s annual renewals, RIA Compliance Consultants recommends that you utilize our IARD Renewal Program and ADV Annual Amendment Service. For only $625 investment advisers that engage us for this service will receive assistance with the annual renewal process and with preparing and submitting the Form ADV Part 1 annual amendment that all investment advisers are required to file and submit within 90 days following the investment adviser’s fiscal year.

If you would like to engage RIA Compliance Consultants to assist you with your annual renewals and Form ADV annual amendment, please click here to purchase the service online and execute the letter of engagement.  Please complete and return the consulting agreement and payment to RIA Compliance Consultants as soon as possible as engagements received after Saturday, November 14, 2015, are subject to availability and additional fees may be assessed.

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