Investment adviser firms and investment adviser representatives must maintain active registrations and/or notice filing statuses with applicable jurisdictions/states. Unless properly renewed, all investment adviser firm and investment adviser representative licensing approvals expire December 31 each calendar year. To ensure that investment adviser firms and their investment adviser representatives are properly licensed in all necessary jurisdictions for 2024, renewal fees must be paid through the Investment Adviser Registration Depository (“IARD”) system.
Failure to maintain active registration or failure to properly renew registration by the deadline may be detrimental to an investment adviser firm. Investment adviser firms and investment adviser representatives that are not properly renewed may become ineligible to conduct business effective January 1, 2024. Additionally, certain regulators may assess fines against those firms or representatives that fail to properly renew.
Most jurisdictions participate in the IARD Automatic Failure to Renew Program. If your investment adviser firm or its representatives are registered or notice filed in a jurisdiction that participates in the IARD Automatic Failure to Renew Program, your jurisdiction has authorized FINRA to automatically terminate your investment adviser firm and investment adviser representative registrations on December 31, 2023, if your investment adviser firm’s IARD Renewal Account is not funded by the renewal deadline.
Beginning November 6, 2023, your investment adviser may retrieve its Preliminary Renewal Statement using the IARD/Web CRD system. Your investment adviser’s Preliminary Renewal Statement will reflect the full payment due in your investment adviser firm’s FINRA IARD Renewal Account by December 11, 2023.
If your investment adviser firm needs assistance with the renewal process or determining if it is properly registered, RIA Compliance Consultants can assist you. If you are an existing client of RIA Compliance Consultants, please contact your consultant to discuss how we can assist you. If you have not previously worked with RIA Compliance Consultants, please click here to learn more about our 2024 IARD Renewal and Form ADV Annual Amendment Services, or contact our business development team at email@example.com.
Don’t miss the opportunity to have RIA Compliance Consultants guide you through your renewals to make sure you remain properly registered for 2024 and assist you with your Form ADV annual amendment to meet your regulatory obligation. If you are a new client interested in these services, this year the fee for our 2024 IARD Renewal and Form ADV Annual Amendment package purchased by October 27, 2023 will be $1,195*. In order to receive this rate, RIA Compliance Consultants must receive the executed engagement and $1,195* fee by October 27, 2023. This fee for the 2024 IARD Renewal and Form ADV Annual Amendment package will increase after October 27, 2023, so make sure to make your purchase early so you do not miss this rate. Alternatively, IARD Renewal and Form ADV Annual Amendment services are included in our Annual Compliance Program packages. Please click here to learn more about these packages.
Before you make the online purchase, you will be prompted to sign an engagement agreement for these services. Please keep in mind that we must receive the retainer payment and executed engagement agreement prior to October 27, 2023 to be eligible for the initial discount on the IARD Renewal and ADV Annual Amendment Services.
*NOTE: The above link/price is not intended for an investment adviser firm managing or advising private fund(s) or a firm which is an Exempt Reporting Adviser (“ERA”); such firms are subject to different fee schedules for our IARD Renewal and ADV Annual Amendment Services. If your firm is registered as an investment adviser and manages or advises one or more private funds, please click here to sign-up for our services. If your firm is an Exempt Reporting Aviser, please click here to sign-up for our services.
The information contained in this blog post is general in nature intended for educational purposes only and is not intended to be a comprehensive analysis of this topic. This is merely a summary and does not necessarily include all topics covered in the regulator’s guidance. RIA Compliance Consultants, Inc. is not offering any safe harbor, guarantees nor other assurances associated with the example questions that an examiner may consider related to informed consent. The content of this blog post may become dated and inaccurate; RIA Compliance Consultants, Inc. does not typically update past posts. This post is not intended to constitute compliance consulting advice or apply to any particular investment adviser firm’s specific situation. Please consult the applicable securities regulator’s order, rules and published guidance for more details about the topics referenced above. RIA Compliance Consultants, Inc. is not a law firm and does not provide legal services. For more information about the limitations of this blog post and information on our website, please see our Disclosures webpage.