RIA Registration Handbook

Registration involves officially registering your RIA with either your state or the SEC. If you’ve decided to partner with our compliance team for this process, you’re in expert hands! With experience registering over 1,300 firms across all states and with the SEC, our team has developed a streamlined approach to ensure your firm gets registered quickly and efficiently.

Basic Steps

  1. Select a name for your new RIA! 
  2. Establish your business entity with your state. This entails setting up your LLC, S-Corp, or similar. We cannot advise on the legal side of this process and encourage you to consult with an attorney.
  3. Hold either:
    • Series 65
    • Series 66 and Series 7
    • CFP, CFA, PFS, CIC, or ChFC designations

Engage our Compliance Team

You’ll work with our compliance team to draft your ADV, Client Agreements, and any other documents required by the state to complete your registration. Our team will also work with the regulators directly on your behalf.


Please check out our RIA Registration (IR) Compliance Tiers.

  • First, look into our RIA Registration tier. We'll support you at critical points in your firm registration and our compliance experts will lead the way and solve registration complexities for you.
  • If you are seeking hands-on support not only through registration but through the development and implementation of your firm's compliance program in your first year, consider opting for our Compliance Foundations tiers (Standard Compliance Foundations and Enhanced Compliance Foundations), which bundles RIA Registration plus structured compliance consulting and support to ensure you have an effective and efficient compliance program in place during your first year.

DIY RIA Registration

While we don't recommend a DIY registration approach, certain states make it easier than others. To get started, please check out these resources:


  1. The Essential Guide to RIA Registration (Step 2 is n/a for DIYers)
  2. State-By-State Registration Guide

Additionally, we recommend attending an Registration (IR) Drop-In Call to learn more about if your state is a good candidate for DIY registration.

Preparation and Planning

Estimated time: 3-4 weeks

If you’re signed up for a membership kit (Essential, Power, or Platinum), there’s no need to sign up separately for registration — it’s already included in your kit. However, if you’re a new member without a kit, please complete the following steps before enrolling in a Compliance registration tier:


  1. Look through RIA Registration FAQs!
  2. Complete the "Registration" section of your Launch Sequence in XYPN Academy.
  3. Book and attend the two Registration Coaching Calls:
  1. Establish your LLC name and update your XYPN Portal settings with your new firm name.
  2. Attend the Preparing for Registration call (weekly on Thursdays).
    1. The two takeaways of this call are to:
      • Understand the steps you, our compliance team, and the regulator will take over the next few months to register your firm
      • Determine the basic services and fees your firm will offer. 
  3. Submit your RIA Registration Questionnaire using the link provided during the Preparing for Registration call.
  4. Create your firm’s FINRA SAA account.
  5. Choose your Registration Compliance Tier and submit your Sign-Up form.

Important, Please Note: Steps 1–7 must be completed before signing up for RIA Registration and picking your tier in Step 8. If Steps 1–7 are not completed, your registration process will be delayed. While Steps 1–7 can be completed in any order, Step 6 requires that Step 5 is finished first.


After submitting the IR Sign-Up form in Step 8, our compliance team will send you a contract based on the Registration Compliance Tier you select. You’ll be billed once our team approves your registration, and the registration contract will be sent to you immediately after. Please note, the contract must be signed before any work begins.

Important State-Specific Requirements

  • Minnesota
    • MN has a minimum experience requirement to register as an investment adviser in the state.
    • They require documentation showing that at least one full-time supervisor responsible for compliance at the investment adviser meets the experience requirement in Minnesota Rule 2876.4120. Please review the regulation to ensure you meet the minimum experience requirement before you begin the registration process.
  • Nevada
    • It can take up to 1 year for approval. Yikes, we know.
  • A few states have been taking a bit longer than average:
    • Florida, New York & Massachusetts - up to 5 months.
  • Connecticut
    • CT has a minimum experience requirement to register as an investment adviser in the state.
    • An investment adviser must have spent a significant portion of their working time in the securities business for at least three years within the seven calendar years preceding the date of the application, according to Conn. Agencies Regs. § 36b-31-7b. Please review the regulation to ensure you meet the minimum experience requirement before you begin the registration process.

Contact

Questions? Please contact the Membership Team at membership@xyplanningnetwork.com or head over to an Registration (IR) Drop-In session. You can access more compliance-related services by searching "compliance" in the Member Benefits section or reviewing the Compliance Knowledge Base in your portal.

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