I. Registration Fees.
- Investment Adviser: $340
- Investment Adviser Representative: $125
II. Financial Statements. All advisers must have tangible assets in excess of liabilities, less satisfactory subordination agreements, of at least $1000. All advisers must also submit original, signed financial statements. Audited financial statements are required if the adviser has custody or requires client fee prepayment 6 months or more in advance or in excess of $500 per client. Unaudited financial statements must be dated within 60 days of the investment adviser application filing date.
III. Sole Proprietorships. IAs structured as sole proprietors file form ADV and the other required documents and fees required for all investment advisers.
IV. Branch Offices. Branch offices must register in Connecticut and pay a fee of $125 (there is no renewal fee).
V. De Minimis. An out-of-state IA is not required to register until it has more than 5 clients.
VI. Other Required Documents.
- Original signed advisory agreement/client contract.
- Proof of workers compensation insurance.
- Original signed Connecticut supplement.
- IA must have 3 years of securities experience within the 7 calendar years preceding the application (waived if otherwise qualified by knowledge and experience)
- An original signed affidavit of prior investment advisory/securities activity.
- U4 for an investment adviser representative.
For additional information, please contact the state securities administrator.
