New Jersey Investment Advisor Firm & Investment Adviser Representative State Registration Requirements
Similar to other states, a firm seeking to register as a state registered investment advisor in New Jersey is required to file the Form ADV Part 1 and Part 2 along with any applicable schedule or appendix through the Investment Adviser Registration Depository (“IARD”) system and correspondingly pay in advance the registration fees via the IARD system. Additionally, a firm applying for state registration as an investment advisor in New Jersey is required to send the miscellaneous documents identified below directly to the New Jersey Bureau of Securities. Here is some additional information related to an investment advisor firm initially registering in New Jersey.
State of New Jersey’s Registration Fees:
- Initial State Registration of Investment Advisor Firm: $200
- Renewal State Registration of Investment Advisor Firm: $200
- Initial Investment Adviser Representative Registration: $50
- Renewal Investment Adviser Representative Registration: $50
Forms and Information Required to Register:
- Investment Advisor Firm
- Form ADV and any associated schedules;
- If an investment advisor does not have custody, an uncertified balance sheet with a notarized certification dated within 60 days of the date of application to the New Jersey Bureau of Securities;
- Sample investment advisory contract;
- If applicable the investment advisor firm must submit a sample business card, letterhead, brochure, circular, advisory newsletter, form letter, advertisement, or sales literature intended for distribution to prospective clients;
- URL for the investment advisor firm;
- Designation of supervisor;
- Certificate of formation/articles of incorporation; and
- If New Jersey is not the investment advisor firm’s home state, then a written declaration that the investment advisor firm is in compliance with its home state’s requirements for books and records, bonding and net capital.
- Investment Adviser Representative
- Form U4;
- Independent contractor’s acknowledgement; and
- A fingerprint card (if the investment adviser representative has not already supplied to FINRA for another IARD/CRD registration).
Net Capital or Bonding Requirements
If a New Jersey registered investment advisor firm has custody of client funds and securities, the New Jersey Bureau of Securities requires that the investment advisor firm maintain a minimum net capital of $25,000 at all times, or post a surety bond in the amount of $25,000.
Custody Requirements
A New Jersey registered investment advisor firm with custody must meet the minimum net capital requirements or post a surety bond. Upon annual renewal, an investment advisor firm with custody must also submit an audited balance sheet.
Additional Information
New Jersey Bureau of Securities
Our Blog Posts
“New Jersey Investment Advisor”
The information listed above regarding New Jersey investment advisor registration is being provided for your convenience and is not intended as advice by RIA Compliance Consultants, Inc. Your use of or reliance upon this information does not create a consulting engagement with RIA Compliance Consultants.
Please understand that RIA Compliance Consultants does not guarantee the accuracy of the New Jersey investment advisor registration requirements listed above. This information may not be current, and there may be additional New Jersey investment advisor registration requirements, forms and procedures which are not identified above. The information on this website is not sufficient for determining whether to register as an investment advisor firm or investment advisor representative. A prospective or existing New Jersey registered investment advisor should review in detail the published investment advisor rules of New Jersey Bureau of Securities. In the event that the investment advisor or investment adviser representative applicant has a disclosure event, the New Jersey Bureau of Securities is likely to request additional information and documentation.
The information on this website page is not intended to be an all-inclusive analysis of the state investment advisor registration requirements of New Jersey. This website page is not intended as a substitute for and should not be considered the equivalent of consulting with investment advisor compliance professional.
