Utah Investment Adviser Bond | AmeriPro Surety Bonds | 844-589-9732
Regardless of when a Utah Investment Adviser registers as such, the licensing and Utah investment adviser bond both expire on December 31st of each year.
AmeriPro Surety Bonds provides both the first-time and renewal Investment Adviser bond.
We also provide the bond in either of the two amounts required by state law.
Utah Investment Advisers
Both the state and the federal government are concerned that Investment Advisers meet compliance requirements as it relates to customers, recommendations provided, and the security of customer accounts.
Investment advisers are defined as those who professionally offer financial and investment advice and are compensated for the same.
Becoming Licensed as a Utah Investment Adviser:
Involved in the license to be come a Utah investment adviser are all of the following:
- Utah Investment Adviser applicants will want to familiarize themselves with the license and compliance provisions provided by the state of Utah.
- Applicants will need to contact the Utah Division of Corporations in order to determine the legal business structure;
- Although a Utah Investment Adviser is regulated by both the state and the federal government, fees will not be paid to the state of Utah. Instead, applicants will need to go to IARD to pay all fees;
- Fees are as follows: $100 for the Investment Adviser license (first-time and renewal); $50 for the Investment Adviser representative license; and $100 for the federal covered notice filing fee;
- Applicants will need to file form ADV;
- Applicants for the Investment Adviser license are also required to have a designated official;
- Applicants who are not demonstrating net worth requirements by an independently audited financial statement, will need to obtain a Utah investment adviser bond in one of two amounts.
Utah Investment Adviser Bond: Amount Required
The amount required for the Utah Investment Adviser bond will be
- A $10,000 surety bond, or
- A $35,000 surety bond.
How to Determine the Amount of the Utah Investment Bond Required:
The Utah Administrative Code, Rules R164-4-5 determines which amount of surety bond is required.
- A Utah Investment Adviser who has discretionary authority over a client’s funds or securities but does not have custody of the funds or securities, must maintain a $10,000 Utah Investment Adviser bond;
- A Utah Investment Adviser who has discretionary authority over a client’s funds or securities and has custody of the funds or securities must maintain a $35,000 Utah Investment Adviser Bond.
Utah Investment Adviser Bond: Premium
The premium for the Utah Investment Adviser bond will be determined by:
- Whether you need a $10,000 surety bond or a $35,000 surety bond;
- An applicant credit score check.
AmeriPro Surety Bonds uses a “soft pull” for credit scores which means that our credit check will not adversely affect your score.
Applicants will only pay a small percentage of the bond amounts.
Utah Investment Adviser Bond: Duration
As noted above, both the Investment Adviser license and bond expire on December 31st of each year.
So, if a bond is purchased on December 15th, that will bond will expire by the December 31st of the same year.
The bond always renews on an annual basis.
AmeriPro Surety Bonds
We know you have choices for your surety bond requirements.
We thank you for choosing AmeriPro Surety Bonds and we look forward to working for you to get the best pricing available for your surety bond.
AmeriPro Surety Bonds is a surety bond-only agency providing license and permit, fiduciary, court, and contractor bonds throughout Utah.