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

• Setting up your firm’s account on the Investment Adviser Registration Depository (IARD) system
• Acting as liaison with the South Carolina Securities Division
• Facilitating the payment of all South Carolina 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 of the Surety Bond
• Filing of financial statements and Verification Form
• Facilitating the SLED records check
• Drafting a compliance manual in conformity with the South Carolina Uniform Securities Act
• 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 South Carolina Registrants:

Financial Statement Requirements

Every investment adviser registered in the State of Carolina 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 must file with the South Carolina Securities Division an audited balance sheet as of the end of the investment adviser's fiscal year. Each balance sheet filed 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.

Every registered investment adviser who has discretionary authority over client funds or securities, but not custody, must file with the South Carolina Securities Division a balance sheet, which need not be audited, but which must be prepared in accordance with generally accepted accounting principles and represented by the investment adviser or the person who prepared the statement as true and accurate, as of the end of the investment adviser's fiscal year.

The financial statements must be filed with the South Carolina Securities Division within 90 days following the end of the investment adviser's fiscal year.

Surety Bond

State registered firms that have custody of or discretionary authority over client funds need to either meet net capital requirements or post the applicable bond. No bond is required of state registered firms that do not have custody of or discretionary authority over client funds.

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