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

• Setting up your firm’s account on the Investment Adviser Registration Depository (IARD) system
• Acting as liaison with the Washington Department of Financial Institutions Securities Division
• Facilitating the payment of all Washington 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 Balance Sheet directly with the Washington Department of Financial Institutions Securities Division
• Drafting and filing investment advisory and/or financial planning agreements
• Drafting a compliance manual in conformity with the Washington Administrative Code
• Drafting of the privacy notice
• Filing Form U4 for investment adviser representatives

Important Additional Information for Washington Registrants:

Financial Statements

An investment adviser applying for registration in the State of Washington must submit a balance sheet. It need not be audited, and should be dated not more than 90 days prior to the date of filing. If the applicant is a sole proprietor, it is the personal balance sheet of the applicant.

Net Worth Requirements

Any investment adviser applying for registration in the State of Washington who has discretion to trade client accounts, or who has custody of client securities or funds, must comply with the following net worth requirements:

1. An investment adviser registered in the State of Washington, who has custody of client funds or securities, shall maintain at all times a minimum net worth of $35,000 unless provided otherwise. An investment adviser registered in the State of Washington, 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.

2. An investment adviser in the State of Washington who has custody or discretion of client funds or securities, but does not meet the minimum net worth requirements shall be bonded in the amount of the net worth deficiency rounded up to the nearest $5,000. Any bond required must be in the form determined by the Director of the Securities Division, issued by a company qualified to do business in this state, and shall be subject to the claim of all clients of the investment adviser regardless of the client's state of residence.

3. An investment adviser registered in the State of Washington, 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.

4. Unless otherwise exempted, as a condition of the right to transact business in this state, every investment adviser registered in the State of Washington shall, by the close of business on the next business day, notify the Director of the Securities Division if the 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 director of its financial condition, including the following:

• A trial balance of all ledger accounts;

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

• A computation of the aggregate amount of client ledger debit balances; and

• A statement as to the number of client accounts.

5. The term "net worth" shall mean an excess of assets over liabilities, as determined by generally accepted accounting principles, but shall not include as assets: Prepaid expenses (except as to items properly classified as assets under generally accepted accounting principles), deferred charges, goodwill, franchise rights, organizational expenses, patents, copyrights, marketing rights, unamortized debt discount and expense, all other assets of intangible nature, home furnishings, automobile(s), and any other personal items not readily marketable in the case of an individual; advances or loans to stockholders and officers in the case of a corporation; and advances or loans to partners in the case of a partnership.

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