Investment Adviser Representative
Iowa Insurance Division
About
An investment adviser representative is an individual who is employed by or associated with an investment adviser and makes recommendations or renders advice regarding securities, manages accounts or portfolios for clients, determines recommendations or advice regarding securities to be given, solicits offers or negotiates the sale of investment advisory services, or supervises employees who perform any of these functions.
Code Citation Iowa Code Section 502.404
Who Applies An individual who is employed by or associated with an investment adviser and makes recommendations or renders advice regarding securities, manages accounts or portfolios for clients, determines recommendations or advice regarding securities to be given, solicits offers or negotiates the sale of investment advisory services, or supervises employees who perform any of these functions.
When To Apply Initial applications will be processed throughout the year upon receipt. Since all licenses expire on December 31, licensed persons are required to renew their licenses at the end of the year. Persons seeking to renew their license for the coming calendar year should file a renewal request and fee prior to December 31.
Initial Requirements While there are no specific educational requirements, there are examination and/or professional designation requirements.
Duration All licenses expire on December 31 of each year, regardless of the date of issue.
Processing Time If the application is complete, licenses are generally issued in 24-48 hours.
Fee Structure Application: $30 Renewal: $30
Renewal Requirements There are no continuing education requirements for license renewal.
Exam Any individual who is not licensed as an investment adviser representative in any jurisdiction prior to January 1, 2000 shall be required to pass the following examinations or have the professional designations: 1) Uniform Investment Adviser Law Examination/Series 65 , OR 2) General Securities Representative Examination/Series 7 and Uniform Combined State Law Exam/Series 66, OR 3) Professional Designation - CFP, ChFC, PFS, CFA, CIC.
Additional Information https://iid.iowa.gov/investment-adviser-representative-license-information
Services Provided
Service Category
- Service SubCategory
Contact Information
Securities Bureau
Securities Bureau
Address
1963 Bell Avenue, Suite 100
Des Moines, IA 50315
1963 Bell Avenue, Suite 100
Des Moines, IA 50315
Phone
(515) 654-6600
(515) 654-6600
Email
[email protected]
[email protected]
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