RIA Registration Requirements & Exemptions

RIA Registration Exemptions And You

Considering a new business model for your investment advisory firm? You’ll soon be faced with the question of registration. Which regulator should you register your new independent investment advisory firm with–state, or federal regulators?

Most new advisory firms will opt for the regulator in the state where they will maintain their principal place of business. Other new firms may opt for a federal exemption and register with the Securities and Exchange Commission (SEC).

Federal Exemptions for RIA Firms

These federal exemptions exist, and may be applicable to your firm. It depends upon how your business model will operate, as well as the services that will be provided.

While it’s not a complete list of all federal exemptions, here are some common ones. Consider these when thinking about your RIA registration exemption:

  • You are relying on rule 203A-2(c) and expect to be eligible for SEC registration within 120 days of the firm’s registration
  • Your principal office and place of business is located in New York and have regulatory assets under management of $25 million or more but less than $100 million (in US Dollars)
  • You are a pension consultant with respect to assets of plans having an aggregate value of at least $200,000,000
  • You are a related advisor that controls, is controlled by, or is under common control with an investment adviser registered with the SEC
  • You are a multi-state advisor that is required to register in 15 or more states

Free Consultation Services for RIA Firms

Need help navigating the world of registration and exemptions? Contact Registered Advisor Services for a free consultation and for other helpful RIA Registered Investment Advisor services.

You can also reach out for expert guidance on the SEC RIA registration requirements, as well as the RIA state registration requirements.