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Mar 5, 2011 5:01 pm

Stavrosbezas

Joined: 2010-12-30Offline

I want to begin with a disclaimer that I will be working with a compliance firm to complete the registration of my new firm. I am seeking to gain an understanding of the landscape and costs that it will entail to get up and running with a new independent RIA. 

One point that is unclear to me is that while I filed a U-10 to get the firm registered, as a sole member will I also have to file a U-4 once the RIA is formed to registered myself as an IAR? Or is the first member 'free' so to speak? 

I am filing with the State (Michigan). 

Thanks, and I appreciate any feedback that you can offer!


Stavros

Mar 5, 2011 10:04 pm

joelv72

Joined: 2008-11-28Offline

Each state is different.  In mine, you have to pay extra for each IAR (including yourself), but it is not costly.  Are you forming a legal entity?

Mar 5, 2011 11:08 pm

Stavrosbezas

Joined: 2010-12-30Offline

[quote=joelv72]

Each state is different.  In mine, you have to pay extra for each IAR (including yourself), but it is not costly.  Are you forming a legal entity?

[/quote]

I am, I have an LLC which I will be the sole member of. Just looking to find out if typically you have to register the RIA, and also the IAR under a U4 attached to the RIA. I know you have to pay for each IAR that joins, but wasn't sure if the original RIA filing included one IAR since I would be an officer/principal.

Thanks!