Investment advisers and their representatives operating in Washington (with certain exceptions) are required to be licensed with the Securities Division. Persons who provide investment portfolio management for their clients or who hold themselves out to the public as financial planners are among those required to be licensed.
News and Updates
Given the disruptions caused by the COVID-19 outbreak and dislocations affecting broker-dealers, state registered investment advisers, federal covered investment advisers, and their registered agents or representatives (collectively, “financial professionals”), the Washington State Department of Financial Institutions, Securities Division (DFI) will take no action to enforce the registration and other provisions of the Securities Act as described in this announcement.
The final stage of the annual renewal process is your fiscal year end filings. As your investment adviser’s fiscal year end is December 31, your filing due dates are:
Renewal season is almost here. Renewal has two steps: (1) payment of annual renewal fees to the Investment Adviser Registration Depository (IARD), which must be received by the IARD no later than December 16, 2019; and (2) annual filing requirements, which are due within 90-120 days after the investment adviser’s fiscal year end (FYE).
The Washington Securities Division has adopted amendments to the investment adviser rules at Chapter 460-24A WAC.
The Division of Securities has adopted a rule to implement a $10 fee increase for initial and renewal applications for registration as an investment adviser, broker-dealer, investment adviser representative, and securities salesperson.
Information for investment advisers who are succeeding their business to another entity or individual. There are two types of succession: Succession by Amendment or Succession by New Application.
This addresses investment advisers moving to or opening a place of business in the State of Washington and providing investment advisory services for compensation in this state or holding themselves out as doing so, prior to registering in this state as investment advisers or investment adviser representatives.
Information for Applicants
All applicants, whether for state registration or federal notice filing status, must file over the Internet through the Investment Adviser Registration Depository (IARD). In addition, applicants for state registration must file additional documents directly with the Securities Division.
Applicants for investment adviser representative registration must apply via an electronic Form U-4 on the IARD system, submitted by their firm.
Renewal of investment adviser and investment adviser representative registrations takes place through the IARD system after the first weekend in November. Renewal information can be accessed at www.iard.com.
- Register to be an Investment Adviser
Registration requirements for Washington investment advisers.
- Register to be an Investment Adviser Representative
Information about registering to be an investment adviser representative.
- Filing Requirements for Federally Covered Advisers
Information about requirements for federally covered advisers.
- Persons Moving to Washington
Information regarding Investment Adviser and Investment Adviser Representative registration for persons moving to Washington.
- Registration of a Successor for an Investment Adviser
Information for investment advisers who are succeeding their business to another entity or individual.
Forms and applications for investment advisers
- FINRA Testing
How to apply for a FINRA examination.
- Study Materials for the Series 65
Study guides from NASAA.
Statutes and Rules
- Statutes and Rules
Laws and rules of interest to investment advisers.
- Privacy Notice to Clients
Information about privacy notices that need to be sent to clients of investment advisers.
- Hedge Fund Registration Notice
Notice regarding hedge fund registration with DFI.
- Helpful Links
Link to helpful websites for investment advisers
- Spotting Financial Exploitation
Training for Employees of Financial Institutions from the Washington State Office of the Attorney General.