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

• Setting up your firm’s account on the Investment Adviser Registration Depository (IARD) system
• Acting as liaison with the Utah Division of Securities
• Facilitating the payment of all Utah 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 Designated Official Information directly with the Utah Division of Securities
• Drafting and filing of Custody Letter directly with the Utah Division of Securities
• Filing of balance sheet or surety bond
• Drafting a compliance manual in conformity with the Utah Securities Act
• Drafting of investment advisory and financial planning agreements
• Drafting of the privacy notice
• Filing Form U4 for investment adviser representatives

Important Additional Information for Utah Registrants:

Minimum Financial Requirements

An investment adviser licensed or required to be licensed in the State of Utah who has custody of client funds or securities shall maintain at all times a minimum net worth of $35,000, and every investment adviser licensed or required to be licensed in the State of Utah who has discretionary authority over client funds or securities but does not have custody of client funds or securities, shall maintain at all times a minimum net worth of $10,000.

An investment adviser registered or required to be registered in the State of Utah who accepts prepayment of more than $500 per client and six or more months in advance shall maintain at all times a positive net worth.

Unless otherwise exempted, as a condition of the right to continue to transact business in this state, every investment adviser licensed or required to be licensed in the State of Utah shall by the close of business on the next business day notify the Utah Division of Securities if such investment adviser's net worth is less than the minimum required. After transmitting such notice, each investment adviser shall file by the close of business on the next business day a report with the Utah Division of Securities of its financial condition, including the following:

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 client ledger debit balances; and
4. A statement as to the number of client accounts.
5. The Division may require that a current appraisal be submitted in order to establish the worth of any asset.

Every investment adviser that has its principal place of business in a state other than the State of Utah shall maintain such minimum capital as required by the state in which the investment adviser maintains its principal place of business, provided the investment adviser is licensed in such state and is in compliance with such state's minimum capital requirements.

Bonding Requirements

Every investment adviser registered in the State of Utah having custody of or discretionary authority over client funds or securities must be bonded:

1. In an amount determined by the Utah Division of Securities based upon the number of clients and the total assets under management of the investment adviser, which shall be at a minimum of $10,000;

2. Issued by a bonding company qualified to do business in Utah;

3. On or in substantially the same form as Utah Division of Securities Form 4-5BIA, Corporate Indemnity Bond of Investment Adviser.

These bonding shall not apply to those investment adviser applicants or licensees who comply with the minimum financial requirements.

An investment adviser that has its principal place of business in a state other than the State of Utah shall be exempt from these bonding requirements, provided that the investment adviser is licensed as in investment adviser in the state where it has its principal place of business and is in compliance with such state's requirements relating to bonding.

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