In order to be a fee-only planner, these are the requirements:
-If your assets under management are $30
million or more, you must register with
the SEC.
-If your assets under
management are $25 million or more but
not $30 million, you may, but are not
required to, register with the SEC
(assuming you are not otherwise required
to register with the SEC).
Once you register with the SEC, you are
subject to SEC regulation, regardless of
whether you remain registered with one or
more states. At the SEC, the requirements
to register are:
(1) (a) Have you passed, on or after January
1, 2000, the Series 65 examination? OR
(b) Have you passed, on or after January
1, 2000, the Series 66 examination and also
passed, at any time, the Series 7 examination?
OR
(2) (a) Do you have any of the following
investment advisory professional designations?
1. Certified Financial Planner (“CFP”)
2. Chartered Financial Analyst (“CFA”)
3. Chartered Financial Consultant (“ChFC”)
4. Chartered Investment Counselor (“CIC”)
5. Personal Financial Specialist (“PFS”)
Most states have the same requirements.
To find your states requirements, visit
this site.
Tools for those who want to become
Registered Investment Advisors |
