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

• Setting up your firm’s account on the Investment Adviser Registration Depository (IARD) system
• Acting as liaison with the Nebraska Department of Banking and Finance
• Facilitating the payment of all Nebraska 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
• Completing and filing of Affidavit of Investment Advisor Activity in Nebraska
• Filing of financial statements directly with the Nebraska Department of Banking and Finance
• Filing of corporate formation documents and resolutions
• Filing of the surety bond
• Completing and filing Form IAR
• Drafting a compliance manual in conformity with the Nebraska Administrative Code
• Drafting and filing of investment advisory and financial planning agreements
• Drafting of the privacy notice
• Filing Form U4 for investment adviser representatives

Important Additional Information for Nebraska Registrants:

Financial Statement Requirements

Every registered investment adviser registered in the State of Nebraska who has custody of client funds or securities or requires payment of advisory fees six months or more in advance and in excess of $500 per client shall file with the Director of Nebraska Banking and Finance audited financial statements showing the assets, liabilities and net capital of the investment adviser as of the end of the investment adviser's fiscal year. The financial statements must be:

1. Examined in accordance with generally accepted auditing standards and prepared in conformity with generally accepted accounting principles;

2. Audited by an independent public accountant or an independent certified public accountant; and

3. Accompanied by an opinion of the accountant as to the report of financial position, and by a note stating the principles used to prepare it, the basis of included securities, and any other explanations required for clarity.

If the date of the audited financial statements is not within 90 days of the date of the initial application or the expiration of the current registration, the investment adviser must also submit a financial statement showing the assets, liabilities and net capital of the investment adviser as of a date within 90 days of the date of the initial application or within 90 days of the expiration of the current registration, as the case may be, and signed by an officer, director, partner or member, of the investment adviser, or by the person who prepared the statement, attesting that the statement is true and correct.

All other investment advisers registered or required to be registered in the State of Nebraska shall file with the Director of Nebraska Banking and Finance financial statements showing the assets, liabilities and net capital of the investment adviser, prepared in accordance with accepted accounting principles. The financial statements need not be audited but must be signed by the investment adviser, by an officer, director, partner, or member of the investment adviser, or by the person who prepared the statement attesting that the statement is true and accurate, as of a date within 90 days of the date of initial application, or within 90 days of the expiration of a current registration, as the case may be.

Financial Requirements

An investment adviser registered or required to be registered in the State of Nebraska must:

1. Maintain at all times a minimum net capital of $25,000; or

2. Post a surety bond on a form acceptable to the Director of Nebraska Banking and Finance in the amount of $25,000.

Unless otherwise exempted, as a condition of the right to continue to transact business in this state, every investment adviser registered or required to be registered in the State of Nebraska shall notify the Director of Nebraska Banking and Finance if such investment adviser's net capital is less than the minimum required by the close of business on the next business day. After transmitting such notice, the investment adviser shall file a report with the Director of Nebraska Banking and Finance of its financial condition by the close of business on the next business day. The report shall include:

1. A trial balance of all ledger accounts;

2. A statement of all client funds or securities which are not segregated;

3. A computation of the aggregate amount of debit balances in the client ledger;
   
   
4. A statement as to the number of client accounts; and

5. Any other information the Director of Nebraska Banking and Finance may require.

…………………………………….

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