Our “turn-key” investment adviser registration program for the State of Alabama includes:

• Setting up your firm’s account on the Investment Adviser Registration Depository (IARD) system
• Acting as liaison with the Alabama Securities Commission
• Facilitating the payment of all Alabama state registration fees
• Preparing and filing Form ADV Part 1 via the IARD system
• Preparing and filing Form ADV Part II via the IARD system
• Filing Affidavit of Alabama clients directly with the Alabama Securities Commission
• Filing of balance sheet and surety bond directly with the Alabama Securities Commission
• Filing of custody statement directly with the Alabama Securities Commission
• Drafting a compliance manual in conformity with the Rules of the Alabama Securities Commission
• Drafting and filing investment advisory and financial planning agreements
• Drafting of the privacy notice
• Filing Form U4 for investment adviser representatives

Important Additional Information for Alabama Registrants:

Financial Statement Requirements

An applicant filing a new application for registration as an investment adviser in the State of Alabama must file a balance sheet prepared in accordance with generally accepted accounting principles, dated not more than ninety days prior to the date of filing. Such balance sheet:

1. Must be audited in accordance with generally accepted auditing standards accompanied by an unqualified opinion of an independent certified public accountant registered with the Alabama State Board of Public Accountancy or a similar board of the state in which the certifying accountant resides; or

2. Attached to such balance sheet shall be an oath or affirmation that such statement is true and correct to the best knowledge, information, and belief, after a diligent inquiry, of the person making such oath or affirmation. The oath or affirmation shall be made before a person authorized to administer such oath or affirmation. If the dealer or investment adviser is a sole proprietorship, the oath or affirmation shall be made by the proprietor; if a partnership, by a general partner; if a corporation, by a duly authorized officer; and if a trust, by a trustee.

Net Capital Requirements

All investment advisers registered in the State of Alabama must have and maintain net capital of not less than $10,000.

Except as otherwise ordered by the Alabama Securities Commission, those investment advisers that maintain custody of customer funds or that have discretionary authority over customer accounts must post a $50,000 surety bond in addition to maintaining the required net capital.

Any investment adviser registered in the State of Alabama who fails to maintain the minimum net capital required must immediately suspend business operations and notify the Alabama Securities Commission within three (3) business days of such fact. Such investment adviser must not resume business operations unless and until financial statements which verify compliance with this rule have been submitted and approved by the Alabama Securities Commission in writing.

Surety Bond

In lieu of the net capital requirements of the foregoing subsections of this rule and the provisions concerning net capital, the Alabama Securities Commission will accept as an alternative for licensing purposes a bond of not less than $50,000. Any surety bond required should be payable to the State of Alabama, should be executed by the investment adviser and a corporation qualified to do business as a surety company in the State of Alabama and shall be in such form and subject to such conditions as the Alabama Securities Commission shall from time to time designate.

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Please call us toll free at 888-798-2930 for more information about our Alabama “Turn-Key” Registration Program.