Becoming a registered investment advisor (RIA) in California requires meeting certain legal requirements enforced by state and federal regulators. As a fiduciary, RIAs have important responsibilities to their clients when providing investment advice or managing assets. This article will explore the core aspects of registering as an RIA in California, including the key eligibility criteria, paperwork, exams, disclosures, fees, and ongoing compliance obligations.

Eligibility criteria to become a registered investment advisor in California
The main eligibility requirements to register as an RIA in California include: – Being an individual with a place of business in California or a firm with a principal office location in California – Meeting the minimum assets under management threshold – Passing required qualification exams – Submitting the necessary RIA registration paperwork – Paying registration fees and agreeing to ongoing reporting
Critical steps in the RIA registration process in California
The key steps to successfully register as an RIA in California are: – Determine your AUM to see if SEC or state registration applies – Study for and pass the Series 65 or Series 66 exams – Draft and file Form ADV Parts 1 & 2 with electronic signatures – Pay initial and ongoing SEC or state registration fees – Develop your compliance policies, procedures, manuals
Core standards and responsibilities as a California RIA
As a registered investment advisor in California, core legal and ethical responsibilities include: – Acting as a fiduciary in clients’ best interests – Providing investment advice suited to each client’s goals and risk tolerance – Having strong disclosures, reporting and record-keeping – Maintaining adequate compliance programs and controls – Updating Form ADV and other filings annually and as material changes occur – Adhering to advertising rules and performing due diligence – Safeguarding client privacy and cybersecurity
Becoming an RIA in California involves meeting eligibility criteria, passing required exams, submitting registration paperwork and fees, and upholding important standards and compliance obligations. As fiduciaries, RIAs must always place client interests first when providing personalized investment advice and asset management services.