Investment Advisers and IARs
Free NASAA Series 63 (Uniform Securities Agent State Law Examination) lesson in Adviser-Side Registration Under the USA. 18 min read, ~2,735 words.
Investment adviser = ABC test: Advice about securities, Business (regular activity), Compensation (any form). All three required. LATE-BB exclusions (Lawyers, Accountants, Teachers, Engineers, plus Banks and Broker-dealers) apply only if advice is incidental and no special compensation is received. \$110M AUM = SEC registration (federal covered). Under \$100M = state...
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What this lesson covers
- Content
- Example 1
- Example 2
- Common Mistakes
- Check Your Understanding
- Exam Shortcuts
Learning objectives
- A1
- B2
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