| License Description |
An Investment Adviser Agent is someone who, for compensation, advises others either directly or through publications, about the value of securities or other investments, or about the advisability of investing in, purchasing or selling securities or other investments. They may, for compensation and as a part of a regular business, issue or promulgate analyses or reports concerning securities, or other investments. Included are financial planners and others who, as part of other financially related services, provide investment advisory services to others for compensation and as part of a business, or who hold themselves out as providing investment advisory services to others for compensation.
Legislation: NH RSA 421-B
Licensure Requirements:
- Federal-covered advisers, those registered and regulated by the US Securities and Exchange Commission, are not subject to the investment adviser licensing provisions of the State of New Hampshire. Every federal covered adviser doing business in New Hampshire must file a notice and pay a fee prior to conducting investment adviser business in New Hampshire. There is no "de minimus" exception from the notice filing requirement.
- As a state-regulated investment adviser, a firm is subject to the investment adviser licensing provisions of the State of New Hampshire. Required documents are available on the New Hampshire Secretary of State's website at <sos.nh.gov/StateIA.aspx>.
- Investment adviser agents (individuals) must submit a complete Form U-4 and a fee of $130 to the Central Registration Depository/Investment Adviser Registration Depository (Web CRD/IARD).
Examination: Financial Industry Regulatory Authority (FINRA) Series 65, or Series 66 and Series 7 examinations
Continuing Education: Not specified
Fees:
- Initial license fee (State-covered): $200
- Application fee (State-covered): $50
- License renewal (State-covered): $200
- Amended license fee (State-covered): $100
- Initial notice filing fee (Federal-covered): $250
- Annual notice filing renewal (Federal-covered): $200
- Name change amendment notice: $100
All licenses expire annually on December 31
Reciprocity: Not permitted
revised Jan 2018 |