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When Is a Bond Required for a Virginia Investment Adviser?

A client gives money to their investment advisor

The Commonwealth of Virginia State Corporation Commission, Division of Securities and Retail Franchising, regulates securities and registration of securities professionals. It is also responsible for trademarks and franchise registration, investor education programs, following up on complaints and investigating code violations and auditing of securities financials and for Investment Adviser Registration.

The Virginia Securities Act provides details that investment advisers must meet for the registration process. The requirements are as follows:

1. Payment of a filing fee and application for registration through IARD with any required attachments.
2. Provide samples of client contracts and agreements.
3. Submit a balance sheet that is in compliance with the state’s net worth or net capital requirements (GAAP).
4. Maintain a minimum net worth of $25,000 or more.
5. A $25,000 surety bond is required if the minimum net worth drops below $25,001.
6. Registration expires December 31 of each year.
7. De Minimis: out-of-state applicants are not required to register until there are 5 clients or more in any prior twelve month period.

How Much Will This Bond Cost?

The premium that you pay for a Virginia Investment Adviser Bond is dependent on credit.

Did You Know?

A sole proprietor investment adviser must register both as a firm and a representative separately.

Related Links:

Commonwealth of Virginia - FAQ Broker-Dealer / Investment Advisor Registration
Investment Adviser Registration Depository
Commonwealth of Virginia - Investment Advisor & Representative Registration Instructions

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Contact our Surety Bond Specialists at:

Phone: 1‑844‑432‑6637
Fax:     404-351-3237
Hours: 8:00-5:00 CST, Monday through Friday

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