The State of Idaho Department of Finance regulates the securities branch which includes the Investment Adviser program.
Idaho Code 30 § 14-400 provides the laws for investment advisers and the conditions that must be met to conduct business.
This also includes the registration process requirements as follows:
1. Payment of a filing fee and application for registration through IARD with any required attachments.
2. Provide examples of all written client contracts and/or agreements.
3. Provide an unaudited balance sheet if physical business location is in Idaho.
4. A $25,000 surety bond is required for licensure. Get bonded quickly with SuretyGroup.com.
5. Designate a qualifying officer.
6. De Minimis- applicants that do not have a physical business location in Idaho and have less than five clients are exempt from registering.
The premium that you pay for an Idaho Investment Adviser Bond is dependent on credit.
An investment adviser must pass the Series 63 or 66 and at least one other general securities exam.
Hours: 8:00-5:00 CST, Monday through Friday