Investment advisers are required to maintain a number of records for the protec-tion of clients, and to ensure compliance with the provisions of the illinois securi-ties law. generally, registered investment advisers must maintain required records for at least three years.
NOTE: Any Broker-Dealer (BD) that also is an Investment Adviser (IA) or "covered adviser" must either register as an IA under KRS 292.330 or notice file as a "covered adviser" under KRS 292.332 .There is no longer a registered BD exemption from the registration or notice filing requirements for investment advisers.
A Broker/Dealer, Registered Investment Adviser, Registered Representative or Investment Adviser Representative may only transact business in a particular state after licensure or satisfying qualifications requirements of that state, or only if they are excluded or exempted from the states Broker/Dealer, Registered Investment Adviser, or.
Although the terms sound similar, investment advisers are not the same as financial advisors and should not be confused. The term financial advisor is a generic term that usually refers to a broker (or, to use the technical term, a registered representative).
A Broker/dealer, investment adviser, BD agent, or IA rep may only transact business in a state if first registered, or is excluded or exempt from state broker/dealer, investment adviser, BD agent, or IA registration requirements as appropriate.
Accordingly, the only legal requirements to become a financial advisor are to get registered for the sale of products (and understand the laws that apply to such products), and the only "standard" of accountability for those financial advisors with their clients is the "suitability" standard (a legal standard for salespeople that.
A Registered investment adviser (ria) is a firm that is an Investment adviser in the United States, registered as such with the Securities and Exchange Commission or a state’s securities agency. The numerous references to RIAs within the Investment Advisers Act of 1940 popularized the term, which is closely associated with the term investment advisor (spelled "investment adviser" in U.S.
01.17015.07.040.ctrl One CE hour for published book reviews Five CE hours for published Investments & wealth monitor articles 15 CE hours for published Journal of Investment Consulting articles