Services
Investment Adviser Registration Services
InnReg helps investment advisers prepare for SEC or state registration, develop Form ADV and related disclosures, coordinate individual registrations, and address application requirements. Our work covers traditional advisory firms and technology-enabled models, with the registration path based on the business the adviser plans to operate.
Since 2013
100+ fintechs supported
SEC and state registration
SOC 2® Type 2 Report
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The Basics
SEC and State Investment Adviser Registration
Investment advisers generally register with the SEC or one or more state securities authorities. The appropriate regulator depends on regulatory assets under management, the firm's principal office, its activities, and any applicable exemption or other basis for SEC registration.
SEC Registration
SEC registration is available or required when an adviser meets the applicable eligibility rules. Regulatory assets under management are a common basis, but qualifying internet advisers, certain multi-state advisers, and other specified categories may have a different route. Form ADV is filed through IARD, with Form CRS required for SEC applicants serving retail investors within the rule's scope.
State Registration
Advisers that are not eligible for SEC registration generally register with the relevant state securities authorities unless an exemption applies. State review can cover the firm's disclosures, agreements, financial condition, and representatives. The firm's offices, clients, and activities determine which jurisdictions need to be considered.
InnReg assesses the firm's eligibility before preparing its application. State notice filings and investment adviser representative registrations are considered separately, including for firms registering with the SEC.
Our Scope
What InnReg Handles During Investment Adviser Registration
RIA registration requires the firm's filings, disclosures, personnel, and proposed services to tell a consistent story. InnReg organizes the work around eligibility, application preparation, supporting documentation, and the requirements of the relevant securities authorities.
01
Registration Strategy and Preparation
InnReg reviews the proposed advisory business, determines the relevant registration workstreams, and organizes the information needed to support the selected SEC or state pathway.
Advisory Business and Client Model
Advisory services and investment approach
Retail, institutional, or fund clients
Discretionary and non-discretionary authority
Fees, billing, and compensation arrangements
Custodian and brokerage relationships
Digital advice and client onboarding
SEC Eligibility and State Coverage
Regulatory assets under management
Principal office and places of business
Applicable SEC eligibility categories
State registration and notice requirements
Available exemptions and reporting alternatives
Ownership and Representative Planning
Direct and indirect ownership
Control persons and disciplinary disclosures
Investment adviser representative roles
Examinations and qualification waivers
Chief compliance officer designation
Personnel information requests
Custody, Technology, and Providers
Custodian and brokerage arrangements
Client onboarding workflows
Digital advice delivery
Recordkeeping and service providers
Provider information needed for disclosures
02
Form ADV and Related Registration Filings
InnReg prepares and coordinates Form ADV, applicable Form CRS and state filings, and individual registration submissions. Filing responsibilities are organized around the adviser, its representatives, and the jurisdictions involved.
Firm Registration and Disclosures
IARD entitlement and account setup
Form ADV Part 1A and schedules
Form ADV Part 1B for state applicants
Form ADV Part 2A brochure
Wrap fee program brochure where applicable
Form CRS where required
Individual and State Filings
Form U4 preparation and coordination
Applicable IAR registration requests
State notice filings for SEC advisers
Branch filings where required
Fingerprinting where required by a state
Filing fees and status tracking
Registration Changes
Application amendments
Additional state applications
New representative registrations
Transition-related Form ADV filings
Coordinated Form ADV-W withdrawals
Regulator-requested corrections
03
Advisory Disclosures and Supporting Materials
The registration package needs to reflect how the firm will advise clients, charge fees, manage conflicts, and work with custodians and other providers. InnReg develops application disclosures and coordinates supporting materials with management and counsel.
Advisory Business and Disclosures
Investment methods and service descriptions
Fee schedules and billing explanations
Conflicts and referral arrangements
Custody and discretionary-authority descriptions
Provider and affiliation disclosures
Part 2B supplements where required
Ownership, Contracts, and Personnel
Formation and ownership records
Advisory agreements coordinated with counsel
Personnel biographies and qualifications
Wrap fee program materials where applicable
State-specific supplemental responses
State Financial Requirements
Financial statements where required
Net worth calculations where applicable
Surety bond documentation where required
Financial-condition disclosures
Supporting evidence requested by a state
Compliance Documentation Coordination
Application-related policy requirements
Coordination with separately scoped program development
Consistency between procedures and Form ADV
SEC Part 2B maintenance and delivery where required
State Part 2B filing requirements where applicable
Assigned compliance responsibilities
04
Registration Review and Regulatory Responses
InnReg tracks the application and addresses registration questions, filing deficiencies, and requests for supporting information. The work is tailored to SEC registration procedures or the substantive review conducted by the relevant state securities authorities.
Registration Questions and Responses
Reviewing regulator questions
Preparing written responses
Coordinating management and counsel input
Obtaining requested supporting records
Tracking response deadlines and open items
Disclosure and Application Revisions
Revising Form ADV and schedules
Updating related client disclosures
Coordinating advisory agreement revisions
Reconciling firm and representative information
Addressing changes during review
Effective Registration and Launch Coordination
Confirming firm registration status
Checking required IAR approvals
Tracking state notices and branch filings
Coordinating remaining application conditions
Documenting completed registration work
Identifying handoff items for ongoing compliance
The Process
From Registration Eligibility to an Effective RIA Registration
The registration process begins with identifying the appropriate regulator and ends with confirming the firm's effective status and the related registrations needed for its planned activities. SEC and state applications follow different review procedures, and individual registrations may progress on a separate timetable.
Eligibility and Jurisdiction Assessment
The proposed services, regulatory assets under management, offices, clients, and available eligibility categories establish whether the firm should apply to the SEC or relevant states.
Business and Disclosure Preparation
The advisory model is documented in the firm's disclosures, fee arrangements, ownership information, and supporting materials. Required personnel qualifications and client agreements are addressed alongside the application.
Application and Related Filings
The applicable Form ADV components are submitted through IARD. Form CRS, state notices, and individual registration filings are coordinated according to the selected pathway.
Regulatory Review and Revisions
Registration questions and deficiencies are addressed through responses, amended disclosures, and supporting documents. State reviewers may require changes to agreements or other application materials.
Registration Effectiveness
The firm's effective registration is confirmed through the applicable regulatory systems. Required representative registrations and other state filings are checked separately before the relevant activities begin.
Launch and Compliance Handoff
The completed registration record, disclosure documents, and remaining implementation items are transferred into the firm's launch plan and ongoing compliance responsibilities.
Expectations
Submitting Form ADV Is One Step in Establishing an RIA
A submitted Form ADV does not by itself establish that an adviser or its representatives may begin conducting the proposed business. The firm needs to confirm its registration status and address the applicable state, individual, and pre-launch requirements.
State reviewers may examine the firm's brochure, advisory agreements, financial statements, ownership disclosures, and personnel qualifications. Comments can require changes to several documents at once, particularly where fees, custody, discretionary authority, or service descriptions are inconsistent.
SEC registration has a different framework. The SEC can request information or identify filing issues, but registration does not amount to approval of an adviser's business model, qualifications, or investment strategies. It is also distinct from a later regulatory examination.
InnReg's application support can include:
Tracking firm and individual registration status
Responding to application deficiencies
Revising Form ADV and related disclosures
Coordinating advisory agreement comments with counsel
Obtaining requested financial or ownership information
Addressing state notice-filing requirements
Coordinating amendments after business changes
Organizing remaining registration items before launch
The objective is a registration package that accurately describes the advisory business and a clear record of which registrations are effective, pending, or still required.
Timing
How Long Does Investment Adviser Registration Take?
The schedule depends on the registration pathway and the firm’s readiness to submit a complete, consistent application. Preparation time is separate from the regulator’s review period.
For an SEC application, the statutory framework generally gives the Commission 45 days after filing to grant registration or institute proceedings to determine whether registration should be denied, unless the applicant agrees to a longer period. That period is not a commitment that the entire project, including preparation and related state or individual filings, will be completed in 45 days.
State review periods vary. A state may request revisions or additional materials before declaring a registration effective, and applications in several states may receive decisions at different times.
Factors that affect the project schedule include:
Evidence supporting SEC registration eligibility
Number of states and representatives involved
Readiness of Form ADV and client disclosures
Availability of advisory agreements and financial statements
Custody, fee, and discretionary-management arrangements
Required examinations, waivers, or background information
Responses to state application comments
Changes to the advisory model during review
InnReg builds the application plan around these dependencies and tracks the firm’s registration alongside related filings. Each regulator controls its own review and decision.
Other Services
Where RIA Registration Ends and Ongoing Compliance Begins
Registration establishes the firm’s regulatory status and disclosures. Preparing the full compliance program and operating that program after registration are separate workstreams. InnReg coordinates these services when they are included together, so the application reflects the firm’s actual procedures and responsibilities.
Compliance Program Development
The advisory firm's policies, procedures, and controls are developed under a separate service scope. Depending on the model, this can include fiduciary and conflict controls, portfolio and trading supervision, custody procedures, personal trading, marketing review, privacy, recordkeeping, and business continuity. The program is coordinated with Form ADV and the firm's actual services.
Compliance Program Management
After registration, the adviser has continuing filing, disclosure, supervision, testing, and examination obligations. InnReg can support compliance program management, Form ADV and related updates, marketing reviews, recurring compliance work, examination responses, and outsourced CCO services under an ongoing engagement.
Our Team
Meet the Team Supporting Investment Adviser Registration
Why InnReg
Why Work With InnReg on Your RIA Registration?
Registration Strategy for the Advisory Model
A wealth manager, private fund adviser, and digital advice platform can have different registration issues. InnReg starts with the proposed services, clients, fees, and operating arrangements to identify the requirements that matter to the applicant.
Connected Firm and Representative Work
The firm's application is only part of the registration project. InnReg coordinates the representative filings, qualification information, state notices, and jurisdictional dependencies that affect when the proposed team can begin work.
Disclosures Grounded in Actual Services
InnReg connects Form ADV with the firm's investment process, fee structure, custody arrangements, conflicts, and providers. This helps management resolve inconsistencies before they become recurring questions during application review.
Attention to Digital Advisory Businesses
An online interface does not by itself establish SEC eligibility. InnReg examines how advice is produced and delivered, how clients interact with the service, and which registration basis fits the proposed platform.
Organized Responses to State Review
State application comments can involve documents owned by several stakeholders. A designated project lead coordinates requests, tracks revisions, and brings management, counsel, and relevant specialists into the response process.
Application Work Connected to Launch
InnReg combines application preparation with an understanding of the compliance responsibilities that follow registration. The registration record becomes a practical starting point for program implementation and the firm's operating team.
FAQ
Investment Adviser Registration FAQs
What does an investment adviser registration consultant do?
Should the firm register with the SEC or with state securities authorities?
Which firm and individual filings can InnReg coordinate?
Does InnReg develop the compliance program needed before launch?
Does InnReg remain involved after Form ADV is submitted?
How long does investment adviser registration take?
Contact Us
Talk to Our Investment Adviser Registration Team
Planning an advisory firm, launching a digital investment service, or moving between state and SEC registration? InnReg can assess the registration path, prepare the application and disclosures, coordinate representative filings, and manage registration follow-up.
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