Louisiana Requirements for Starting an RIA

Louisiana RIA Registration and Compliance

If you’re looking to register a new Registered Investment Advisor (RIA) in Louisiana, our experienced team and broad network of industry-leading partners are here to help you achieve your goals and navigate Louisiana’s developed state regulatory guidelines, all while allowing you to focus on what you do best.

We are committed to helping Louisiana-based advisors by providing true simplicity. We ensure that we thoroughly understand your business today and goals for tomorrow before beginning our work. This foundation of understanding forms the base of our “we-do-the-heavy-lifting-for-you” service style and ensures our custom work aligns perfectly with your intentions.

Louisiana RIA Registration

To register an RIA in Louisiana in 2024, you will need to submit the documents listed below and pay an initial firm filing fee to Louisiana’s Securities Division. Please verify the current fee structure, as it may have changed.

Required Documents for Approval

These documents are required whether you’re filing a new RIA for the first time or expanding into Louisiana:

• Form ADV Part 1
• Form ADV Part 2A
• Form ADV Part 2B (at least one Investment Adviser Representative (IAR))
• Form U4 (at least one IAR)
• Wrap-Fee Brochure (if applicable)
• Client Agreement(s)
• Corporate Documents, Filings & Financial Statements
• Oath of Affirmations
• Balance Sheet & Income Statement

Additional Requirements for New RIAs

If you are seeking approval as a state RIA for the first time, you will also need to complete the following:

• SAA Creation & FINRA Entitlement
• IARD/CRD Access & Authentication
• E-billing Establishment & Processing

Compliance and Beyond

These documents and processes guide your RIA and ensure adherence to regulations. Although these documents will not be reviewed or approved by regulators during the application process, your RIA is expected to develop, maintain, and adhere to adequate standards, including:

• Policies & Procedures Manual
• Code of Ethics
• Cybersecurity Policy
• Privacy Policy
• Business Continuity Plan
• Compliance Procedures, Monitoring, & Execution

If you’re interested in learning more about successfully filing a new Louisiana RIA or need to register an existing RIA in Louisiana to comply with De Minimis rules, you can reach us by phone at (810) 227-2549 or submit our contact form. Learn more about our turn-key New State RIA Registration services or explore our additional state filing services.

Louisiana Annual RIA Renewals

In 2024, each Louisiana RIA must pay state firm annual renewal fees via FINRA’s IARD system. Within 90 days of the new year, each Louisiana RIA must file its annual amendments, indicating material changes and certifying complete disclosure provenance, in addition to executing the renewal process for each firm’s IARs. Verify the current renewal fees and deadlines for 2024.

Whether you need a cost-effective solution for your annual compliance requirements that can scale to meet your needs on demand or require a comprehensive compliance program and officer, we have the experience, know-how, and resources to protect your firm in an evolving regulatory climate.

Louisiana IAR Registration

Becoming an IAR licensed in Louisiana requires meeting the licensing requirements or waivers detailed below and payment of an initial registration fee. The current fee may have changed, so please confirm with the Louisiana Securities Division.

Once licensed, Louisiana IARs must be registered with an approved RIA firm within two years to maintain their license, which involves updating the Advisor’s Form U4 and creating a Form ADV Part 2B brochure supplement. Louisiana IARs are also required to maintain their fingerprints with the State and Credit Reports. Registration with an approved investment advisor firm is required before conducting any investment advisory business.

Licensing Requirements

To be licensed as an IAR in Louisiana, an individual must meet and/or maintain one or more of the following criteria:

• Series 65 License
• Series 7 & 63 Licenses
• CFP Designation
• CFA Designation
• ChFC Designation
• CIC Designation
• PFS Designation

If you are interested in becoming a Series 65 Licensed IAR in Louisiana or are looking for a turn-key solution to process your inbound IAR’s U4s and creation of ADV Part 2B Brochure Supplements, contact us today by calling (810) 227-2549 or submit our contact form.

IAR Renewals

Each year, an IAR must successfully complete the requirements of their firm’s compliance program, certify and acknowledge the firm’s policies and procedures, and ensure the ongoing accuracy of their Form U4 and ADV Part 2B Brochure Supplement. They must also pay their annual renewal fees for continued registration in Louisiana. Verify the current renewal fees for 2024.

Louisiana RIA

If you’re looking to register a new RIA in Louisiana, our experienced team and broad Network of industry leading partners are here to help you achieve your goals and anticipate Louisiana’s developed State regulatory guidelines all-while enabling you to continue focusing on what you do best.

We are driven to help Louisiana based advisors by providing them true simplicity. This is why we ensure we thoroughly understand your business today and goals for tomorrow before beginning our work. This foundation of understanding is the base upon which our “we-do-the-heavy-lifting-for-you” service style stands and best ensures our completely custom work to have no gap between your intent and our implementation.

Louisiana RIA Registration

To register an RIA in Louisiana in 2016 you will need to submit the documents listed below and pay an initial firm filing fee to Louisiana’s Securities Division of $150.

Required For Approval

These will be required whether you’re filing a new RIA for the first time or expanding an existing firm into Louisiana:

• Form ADV Part 1
• Form ADV Part 2A
• Form ADV Part 2B (atleast 1 IAR)
• Form U4 (atleast 1 IAR)
• Wrap-Fee Brochure (if applicable)
• Client Agreement(s)
• Corporate Documents, Filings & Financials
• Oath of Affirmations
• Balance Sheet & Income Statement

New RIA Also Required

You will also need to complete the following items if you are seeking approval as a state RIA for the first time:

• SAA Creation & FINRA Entitlement
• IARD/CRD Access & Authentication
• E-billing establishment & processing

Beyond RIA Registration

These documents and processes form a living set of procedures which guide your RIA and each employee away from potential problems and towards the required Louisiana compliance standards. These documents essentially ensure your firm’s adherence to applicable regulations, and aren’t going to be reviewed or approved by your regulators during the application process. Your RIA will however still be expected to develop, maintain and adhere to adequate standards including:

• Policies & Procedures Manual
• Code of Ethics
• Cyber Security Policy
• Privacy Policy
• Business Continuity Plan
• Compliance Procedures, Monitoring, & Execution

If you’re interested in learning more about what’s involved in successfully filing a new Louisiana RIA or need to register an existing RIA in Louisiana to comport with De Minimis rules you can reach us by phone at 810-227-2549 or simply submit our contact us form. You can learn more about our turn-key New State RIA Registration services here or learn more about our additional State filing services here.

Louisiana Annual RIA Renewals

In 2016, each Louisiana RIA will pay $150 in state firm annual renewal fees via FINRA’s IARD system. Within 90 days of the new year each Louisiana RIA will also have to file its annual amendments, indicating material changes and certifying a complete disclosure provenance, in addition to executing the renewal process for each of the firm’s IARs.

Whether you are looking for a cost-effective solution for your annual compliance requirements which can scale to meet your needs on-demand or you need to bring on a comprehensive compliance program and officer, we have the experience, know-how, attitude, people and resources to protect your firm in an evolving regulatory climate.

Louisiana IAR

IAR Registration

Becoming an IAR licensed in Louisiana will require you to meet the licensing requirements or waivers detailed below and payment of an initial registration fee of $0. Once licensed, Louisiana IARs will have to be registered with an approved RIA firm within 2 years to maintain their license – this involves updating the Advisor’s form U4 and creation of a Form ADV part 2B brochure supplement. Louisiana IARs are also required to maintain their fingerprints with the State and Credit Reports. Registration with an approved investment advisor firm is also required before the IAR can conduct any investment advisory business.

In order to be licensed as an IAR in Louisiana an individual must meet and/or maintain one or more of the following criteria:

• Series 65 License
• Series 7 & 63 Licenses
• CFP Designation
• CFA Designation
• CFA Designation
• ChFC Designation
• CIC Designation
• PFS Designation

If you are interested in becoming a Series 65 Licensed IAR in Louisiana or are looking for a turn-key solution to process your inbound IAR’s U4s and creation of ADV Part 2B Brochure Supplements contact us today by calling 810-227-2549 or submit our contact us form.

IAR Renewals

Each year an IAR must have successfully completed the requirements of their firm’s compliance program, certify and acknowledge the firm’s policies & procedures, and ensure the ongoing accuracy of their Form U4 and ADV Part 2B Brochure Supplement. They must also pay their annual renewal fees for continued registration in Louisiana which are $0 in 2016.

Disclaimer: The information provided in our insights, blog posts and other materials is intended solely for financial professionals. This content is not intended for consumer use. The information contained herein is for educational and informational purposes only and should not be considered as investment advice, a recommendation, or an offer to buy or sell any securities or financial products.

Financial professionals are encouraged to conduct their own research and due diligence and consult with their legal, tax, and financial advisors before making any investment decisions. The content provided is based on information available at the time of publication and is subject to change without notice. We do not guarantee the accuracy or completeness of any information presented and shall not be liable for any errors or omissions or for any actions taken based on the information provided.

By accessing this content, you acknowledge and agree that it is intended for use by financial professionals only and not for distribution as a hard copy, email attachment, social media, or any other means that can be given to the general public.