State-Registered Investment Advisers Securities

Regulated Firms

Any person who engages in the business of financial planning or who manages $100 million or less in investments is required to register as a state-registered investment adviser with the Illinois Securities Department. For more information, please refer to Instructions for Registration as an Investment Adviser. Application for registration as a state-registered investment adviser is initiated through the filing of Form ADV on the Investment Adviser Registration Depository (IARD).

• State-registered investment advisers must file annually through the IARD system to renew their registration with the Illinois Securities Department. Renewal periods run on a calendar-year basis of January 1-December 31. Renewal instructions are mailed in late October of each year to all registered firms.
• Please refer to the Administrative Rules (Sections 130.805 through 130.873) of the Illinois Securities Law of 1953 for specific information concerning state investment advisers.
• If a firm is considering a switch in status to that of a federal covered investment adviser, please contact the Securities Department at lbednarko@ilsos.net for information related to making the correct sequence of filings on the IARD system.

Consumers

An investment adviser a consumer selects to provide financial planning services or to manage their investments is required to be registered with the Illinois Securities Department. This registration requirement also extends to the individual investment adviser representative that provides these services. The Illinois Securities Department encourages you to be informed when making a decision about whom to select as your investment adviser. For more information on the background and registration status of investment adviser firms, please visit the SEC’s Web site.

Fees for State-Registered Investment Advisers

• Initial Registration and Annual Renewal Fee – $400
• Branch Office Registration and Annual Renewal Fee – $20*
• Investment Adviser Representative Registration and Renewal Fee – $150
• This fee is paid directly to the Illinois Securities Department. All other fees are paid through FINRA, the Financial Regulatory Authority, at the time of initial registration or annual renewal.

To obtain a copy of a Central Registration Depository (CRD) report concerning an investment adviser representative, please call the Securities Department at 800-628-7937, or email your request to lbednarko@ilsos.net. The report provides information concerning the investment adviser representative’s employment history, securities examinations the representative has passed, licensing or registration status in Illinois or other applicable states, and disciplinary history. When requesting information about an individual, please be sure to include the individual’s first and last name, name of the investment adviser firm where the individual is employed, and address where the individual conducts business. Please include your fax number or postal address for mailing of the requested report. Please also refer to the Consumer Information sections for additional assistance.

The Secretary of State, Illinois Securities Department or their information providers shall not be liable regardless of the cause or duration, for any errors, inaccuracies, omissions or untimeliness of the information, or for any delay or interruption in the transmission thereof to the user, or for any claims or losses arising therefrom.