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Washington Investment Adviser Surety Bond

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Washington State Department of Financial Institutions (DFI), Securities Division, oversees the registration and licensing of Investment Advisers, investigates consumer complaints, provides valuations for old stock and protects consumers from fraudulent securities activities. The Securities Act of Washington and WAC 460-24A-060 provides details that investment advisers must meet for the license registration process.

Surety Bond and Registration Requirements:

  1. Payment of a filing fee and application for registration through IARD with any required attachments.
  2. Provide samples of proposed client contract and/or agreement.
  3. Provide a balance sheet that is not more than 90 days old from the date of filing for registration.
  4. Pooled Investment Vehicles have additional requirements.
  5. Maintain a minimum net worth of $10,000 if there is discretionary authority of client funds.
  6. Maintain a minimum net worth of $35,000 with custody of client funds.
  7. If the minimum net worth is not met for either custody of client funds or discretionary authority of client funds, a surety bond is required to make up the deficiency.
  8. License expires annually on December 31.
  9. De Minimis: out-of-state applicants are not required to register until there are more than five clients in a 12-month period.

How Much Will a Washington Investment Adviser Bond Cost?

The premium that you pay for a Washington Investment Adviser Surety Bond is dependent on credit and the bond amount required.

Did You Know?

Sole proprietor investment advisers in Washington must pass within the past two years, the Series 65, Series 7 and Series 66 examinations. Approved designations include the CFP, ChFC, PFS, CFA and CIC.

Related Links:

Investment Adviser Registration
Investment Adviser Registration Depository (IARD)
Information for Applicants
Alaska Investment Adviser Bond

More Surety Bond Questions?

Check out our FAQ page or What’s a Surety Bond? page. Should you need or choose to buy a surety bond, buy from us. SuretyGroup.com has been underwriting surety bonds throughout the U.S. for more than 35 years. When you work with us, you enjoy the unique benefit of dealing with a team of highly experienced surety agents with in-house underwriting authority. This allows you to receive competitive, low rates, quick approvals, and immediate bond delivery. In most cases, your bond will be delivered within 24 hours after you apply for it.

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