All individuals employed by the adviser who render advisory services, manage client portfolios, solicit/refer clients, offer the services of the adviser, or supervise persons performing these functions, must register as investment adviser representatives. In addition, pursuant to WAC 460-24A-050(4) if the adviser is an entity, an officer, general partner, managing member or other person of authority must register in order to qualify the entity for registration.
Representative registration is accomplished by:
- Funding the adviser’s IARD Daily Account in the amount of $40 per representative.
- Completing and submitting a Form U-4 on the CRD system for each representative applying for Washington registration. See the IARD website for more information.
Persons applying for investment adviser representative registration must have passed qualifying examinations within the last two years, been registered in Washington or another state within the last two years, or hold specified designations.
The qualifying examinations are:
- Series 65
- Series 7 and 66
The approved designations are:
- Certified Financial Planner (CFP)
- Chartered Financial Consultant (ChFC)
- Personal Financial Specialist (PFS)
- Chartered Financial Analyst (CFA)
- Chartered Investment Counselor (CIC)
See how to apply for an FINRA examination for information on applying for and taking the required examinations.
Information on the designations that can substitute for examinations can be found either by accessing the website of the sponsoring organization or calling the phone number: