Wisconsin Investment Advisory Activity of Applicant is a term used to describe the process of an applicant engaging in activities that involve providing advice, consulting, and/or management of investments for clients in the state of Wisconsin. This includes activities such as providing advice on the selection of investments, the monitoring of investments, asset allocation, and portfolio management. Types of Wisconsin Investment Advisory Activity of Applicant include discretionary portfolio management, non-discretionary portfolio management, and fee-only investment advisory services. Wisconsin Investment Advisory Activity of Applicant requires the applicant to be registered with the Wisconsin Department of Financial Institutions and to abide by the investment and fiduciary rules and regulations set forth for the state. Additionally, applicants must also adhere to the ethical and professional standards set forth by the Financial Industry Regulatory Authority (FINRA) and the Investment Advisers Association (IAA).
Wisconsin Investment Advisory Activity of Applicant
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FAQ
Note that the SEC registers the investment adviser only - it does not register investment adviser representatives. The smaller advisers are only required to be registered at the State level. However, the State can require registration of investment adviser representatives for any investment adviser firm.
Which of the following are required for an initial application for registration as an investment adviser? An initial application must contain a consent to service of process, a fee, and must disclose whether the applicant will have discretionary powers over, or custody of, client funds and/or securities.
IAR CE Requirements The 12 credits must include six credits of Products and Practices and six credits of Ethics and Professional Responsibility. The mandatory CE program will apply to all registered IARs of both state-registered and federal covered investment advisers.
Choose Your Path to Certification Earn 4-Year Degree. A bachelor's degree in any discipline is required.Complete CFP® certification coursework.Pass CFP® Exam.Accumulate experience.Meet Ethics Requirement.Earn CFP® Certification.
An investment adviser is an individual or company who's paid for providing advice about securities to their clients.
To form an RIA, investment advisors must pass the Series 65 exam (or equivalent). RIAs must register with the SEC or state authorities, depending on the amount of money they manage. Applying to become an RIA includes filing a Form ADV, which includes a disclosure document that is also distributed to all clients.
Certified Financial Planner (CFP) ? Hold a bachelor's degree, plus 3 years experience. Personal Financial Specialist (PFS) ? Have 75 hours personal financial planning education; also, hold a CPA, which requires a degree, plus 2 years experience.