New Jersey Requirements for Starting an RIA

Starting An RIA in New Jersey

New Jersey RIA Registration and Compliance

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

We are committed to helping New Jersey-based advisors by providing true simplicity. We ensure that we thoroughly understand your business today and your 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.

New Jersey RIA Registration

To register an RIA in New Jersey in 2024, you will need to submit the documents listed below and pay an initial firm filing fee to New Jersey’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 New Jersey:

  • 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
  • Signed Surety/Fidelity Bond
  • GAAP 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
  • Signed Fingerprints

If you’re interested in learning more about successfully filing a new New Jersey RIA or need to register an existing RIA in New Jersey 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.

New Jersey Annual RIA Renewals

In 2024, each New Jersey RIA must pay state firm annual renewal fees via FINRA’s IARD system. Within 90 days of the new year, each New Jersey 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.

New Jersey IAR Registration

Becoming an IAR licensed in New Jersey 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 New Jersey Securities Division. Your fingerprints must also be submitted, even if they have been submitted for previous registrations.

Once licensed, New Jersey 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. Registration with an approved investment advisor firm is required before conducting any investment advisory business.

Licensing Requirements

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

  • Series 65 License
  • Series 7 & 66 Licenses
  • CFP Designation
  • CFA Designation
  • ChFC Designation
  • CIC Designation
  • PFS Designation

If you are interested in becoming a Series 65 Licensed IAR in New Jersey 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 New Jersey. Verify the current renewal fees for 2024.

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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.

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