Description
This sample letter is intended for use when an investment adviser representative is seeking permission from a state securities regulator for dual registration on a temporary basis as an investment adviser representative with both a new investment adviser firm and an old investment adviser firm.
Dual registration creates a risk of client confusion as to the investment adviser firm which is providing the service, and consequently, the dual investment adviser representative and each investment adviser firm must take steps to clarify the role of each party and properly identify the responsibilities/limitations of each party. Since not every state permits dual investment adviser representative registration, the user should first contact the licensing department of the state securities regulator. Certain states which allow dual registration of an investment adviser representative may have other forms that need to be completed or require additional representations in the letter.
Included with Gold and Platinum Packages. Initially posted in August 2017.
Related Products
Client Letter – Assignment/Change of Ownership – Rep Starting New Firm, Dual IAR Registration During Transition, 60 Days’ Notice and Authorization to Release Client Information
Rep – Recruiting Practices – Checklist
Rep – Recruiting – New Firm Recommending Prospect Retain Attorney Before Affiliating
Recorded Webinar : Solutions and Answers to Form U4 and Form U5 Challenges
Recorded Webinar : Investment Adviser Compliance for RIAs with Representatives Dually Licensed with a Broker-Dealer
Related Resources
Form U4 FAQs
Series 65 Examinations
Disclosures
This sample document is merely an example for general reference and educational purposes. RIA Compliance Consultants, Inc. is providing this sample document to the purchaser on an “as is” basis with no warranty or guaranty whatsoever.
This sample document should be considered a starting point, and purchaser should not treat this sample document as a final document ready for use. The sample document has not been customized to the purchaser’s business model, the specific investment advisory rules applicable to the purchaser’s investment adviser or the written supervisory procedures and code of ethics of purchaser’s investment adviser.
This sample document may not be applicable or appropriate for every investment adviser. The purchaser should not consider a sample document purchased from our online store as an exhaustive, comprehensive or definitive list of the items necessary to meet the purchaser’s obligations under the applicable investment adviser laws and rules.
This sample document is not intended to detect or prevent fraud, selling away, Ponzi schemes, undisclosed outside business activities, inaccurate or false fee calculations, theft, misappropriation or unlawful conversion of client funds.
Due to changes of investment adviser laws and rules, this sample documented may become outdated and need to be updated or discontinued. RIA Compliance Consultants, Inc. will not be providing any subsequent updates of this sample documents to the purchaser. Likewise, RIA Compliance Consultants, Inc. will not be monitoring and reporting to the purchaser any issues related to the use of this sample document.
Since this sample document may not reflect the specific investment advisory requirements of the purchaser’s securities regulator, the purchaser should check with the securities regulator(s) with jurisdiction over its investment adviser or review any applicable rules before using this document.
This sample document is not a substitute for retaining a compliance professional to advise and assist the purchaser regarding its investment adviser’s compliance program. Unless otherwise agreed to in writing, the purchaser understands that the purchaser has not engaged RIA Compliance Consultants, Inc. in a consulting relationship by merely purchasing or utilizing a sample form. Additionally, the purchaser understand that unless otherwise agreed to in writing, RIA Compliance Consultants, Inc. is not responsible for customizing this sample document, updating the sample document, preparing the purchaser’s written supervisory procedures or code of ethics, or notifying the purchaser of changes to the investment adviser laws and rules.
Purchaser is not authorized to re-sell this sample document nor license the use of this sample document to a third-party.
Delivery
Before this product can be purchased, the purchaser will be directed to electronically sign a terms and use agreement. After signing that agreement, the purchaser will be redirected to the purchaser’s shopping cart to complete the purchase transaction.
If this product involves the purchase of a sample document on a la cart basis (not part of an annual compliance program engagement), the purchaser will have three ways to access this sample document: 1) Following payment, the purchaser will be redirected to a thank you page with a button to download the sample document; 2) The purchaser will receive an invoice email with a link to download the sample document; 3) If the purchaser has an account or elects to create one at the time of checkout, this sample document can be accessed from the “Downloads” section of purchaser’s My Account page. The purchaser will have 90 days to download sample document, which is limited to 3 downloads during this period.
If the individual intending to make a purchase is affiliated with a firm which has an active engagement with RIA Compliance Consultants for an annual compliance program (“ACP”), certain sample forms are available as part of ACP depending upon the package and do not need to be purchased separately. Please check the description of the sample form as to whether such form is included in your ACP package. If a sample form is included as part of your firm’s current ACP package and your firm (via the individual making payments in our system) has designated you as a team member in our Knowledge Base, please log into our Knowledge Base at https://www.ria-compliance-consultants.com/my-account/ to download such sample form. For detailed instructions on how to access the KnowledgeBase, please refer to the following webpage: KnowledgeBase Instructions
If you experience any issues when making the purchase, please email delivery@ria-compliance-consultants.com .
ACP packages
To the extent that your investment adviser firm currently has an active Annual Compliance Program (“ACP”) engagement with RIA Compliance Consultants, Inc., this sample document may be available as part of that engagement depending upon your firm’s ACP package (e.g., Bronze, Silver, Gold, Platinum and Titanium). Please refer to the “Description” tab within the product to determine whether the sample document is included as part of your firm’s ACP package. If included and your firm (via the individual making payments in our system) has designated you as a team member in our Knowledge Base, please log into our Knowledge Base to download the sample document. (For detailed instructions on how to access the Knowledge Base, please refer to the following webpage: Knowledge Base Instructions.) If not included in your ACP package, you can make an a la carte purchase of the sample document through this product in our online store.
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