How Many Clients Can A Registered Investment Advisor Have In Texas Before Being Registered In Texas

State of Texas Investment Advisor Registration Facts & Figures

While there are some exceptions, in general, investment advisors with less than $100 meg in assets under direction (AUM) that are located in Texas, take 1 customer or more than in Texas, or actively solicit in Texas must register with the State of Texas as a Registered Investment Counselor (RIA).

	2016 Full	2016 Land Rank
Number of RIAs	2,137	3
Population	27,862,596	ii
RIA Population Density (residents per RIA)	thirteen,038	24
RIA Geographic Density (sq. land miles per RIA)	122	24

Note: RIA firm information courtesy of Acme-IQ and includes both SEC and country-registered investment advisory firms that are based in Texas equally of July 2016. Population and geographic data is courtesy of the U.s. Census Bureau every bit of the 2010 Census.

Texas Investment Advisor Registration Process

Investment Counselor Representative (IAR) Registration Requirements:

Licensing Requirements: Serial 65, Series 66 and Series 7 combined, or CFP, CFA, CIC, ChFC, PFS.
Each investment advisor representative must submit the course U-4 and ADV Office 2B.

General Business firm Registration Requirements

Payment of all State of Texas registration filing fees

FINRA Entitlement paperwork
- In gild to file a registered investment adviser awarding with the state of Texas, one must first utilize to the Financial Industry Regulatory Authority (FINRA) for an account (Entitlement) to their WebCRD/IARD on-line system (the web application for the registration of RIA'due south and their representatives). While RIA'southward are in no way regulated or supervised by FINRA, the country of Texas uses FINRA'due south WebCRD/IARD system to procedure applications.
Grade ADV 1 (online)
- The Class ADV Part 1 is the on-line component to your House's registration documentation. Note: The Form ADV Part 1 primarily discloses information near the FIRM. Private information is primarily disclosed in the Class U4 as detailed below. The Form ADV Office 1 is too the vehicle to upload your Firm'southward Form ADV Function 2A (Firm Brochure) and Course ADV Part 2B'southward (Brochure Supplements).
Form ADV 2A (newspaper and online)
- The Course ADV Part 2A acts as your Firm's Brochure. Information technology is a narrative clarification of your services, fees, disciplinary disclosures, too equally several other Firm details. The Form ADV Part 2A must exist provided to all Clients and Prospective Clients. The state of Texas requires that the ADV Form 2A be written in "apparently English" and easily understood by your clients.
Class ADV 2B (paper and online)
- The Form ADV 2B is the paper brochure that Investment Adviser Representatives must (in nigh cases) provide to clients. This form contains employment, educational, disharmonize of interest, and disciplinary information. Generally, Executive Officers, any person generating investment advice provided to clients, and whatsoever representative advising clients must have a Form ADV Office 2B.
Client Advisory Contract
- Customer Informational Contract including an investment policy statement that meets the appropriate regulatory authority standards for client advisory contracts in Texas state.
Policies and Procedures Manual
- The business firm's Policies and Procedures manual is the guiding certificate that your business firm will use to maintain and enforce your firm's internal policies on all aspects of your business from the treatment of client complaints to the preparation of new Investment Adviser Representatives. It likewise houses your firm's Business organization Continuity Plan, Information Security Policy, Anti-money Laundering Policy, and Anti-insider Trading Policy.
Privacy Policy Argument
- The House's Privacy Policy Argument must be provided to all clients at the beginning of the client relationship and annually thereafter. It must disembalm how the firm stores, and handles and disseminates client data. Privacy Policy Statements are built to your firm'south specifications and designed to meet Land of Texas compliance requirements.
Code of Ethics
- Lawmaking of Ideals filing ensuring that you meet the standards of the State of Texas.

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Notation: RIA in a Box LLC is not a constabulary firm, investment advisory house, or a CPA firm. RIA in a Box LLC does not provide legal advice or opinions to any party or client. You should always consult your relevant regulatory authorities every bit this information should not be relied upon as currently accurate. This information is provided for educational purposes only and is non an exhaustive list of regulatory requirements.