A Form U4 is a document that is used by both broker dealers and registered investment advisors to license and register individuals with their firm. The Form U4 is completed online and submitted through the CRD (Central Registration Depository) system that is operated by FINRA. For Investment Advisor Representatives (IARs) of Registered Investment Advisor (RIA) firms, even though FINRA operates the CRD system, the IAR is not regulated by FINRA by rather the state regulators in the state where the IAR is located and registered. The Form U4 can also be used to open a window to take either the Series 65 or the Series 66 exam that is required by the state regulators for IARs. This is true even for federally registered investment advisor firms. Often, clients considering registering their own investment advisory firm are not aware that they, as the individual who will be providing advice to advisory clients, also need to be licensed and registered with their own investment advisory firm. If you are considering registering your own investment advisory firm and have questions about the process, including the Form U4, call Registered Advisor Services today for a free consultation. We would be happy to assist you with your registration.
