Washington State Investor Adviser Bond | AmeriPro Surety Bonds | 844-589-9732
A Washington State investor adviser is, in part, someone who is licensed within the state to maintain custody of financial securities to invest, in the hope or expectation of a return, on behalf of clients.
Investment advisers are required to have and maintain a number of securities licenses before soliciting clients for businesses.
They are also required to undergo a background check. This background check is usually accomplished by fingerprinting.
Finally, depending on the nature of their business activities, they are required by Washington State to procure a surety bond.
A Washington State investment adviser is required to have a minimum net worth of $10,000, if that investment adviser maintains “…discretionary authority over client funds or securities…,” but at the same time does not have custody over the same funds or securities.
For further clarification, the term “net worth” as it applies to Washington State financial advisers means the following:
In general, the excess amount of assets over liabilities;
However, the amount calculated for net worth specifically excludes from the definition,
Cars, boats, and a primary home. Also excluded are loans made by the investment adviser to corporations or partnerships in the investment advisory business, depending on the nature of the nature of the business model (i.e., S-corporation, or LL).
If a Washington State Investment Adviser has a net worth (or no net worth) that that does not meet the requirements as stated above, the investment advisor must secure a surety bond in the amount that the net worth is deficient to the $10,000 requirement.
Also, the surety bond amount must also be rounded to the nearest $5,000.
Confusing?
We are here to help you.
AmeriPro Surety Bonds has the expertise and backing to help you determine the amount of the Investment Adviser surety bond required, if this state law is applicable to you.
Moreover, we will work to provide you with the best pricing for your Washington State Investment Adviser Bond.
Call us now and we will get the process begun.
Besides Washington State investment adviser bonds, AmeriPro Surety Bonds all types of Washington State license & permit, contractor, fiduciary, and court surety bonds.
We also provide surety bonds of all types to all 50 states.
