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Investment Advisers

Registration of Investment Advisers

Investment advisers, financial planners and their representatives doing business in South Carolina must register or notice file with the Securities Division

The term “investment adviser” includes financial planners and firms or individuals that advertise, hold themselves out as or otherwise act as investment advisers or financial planners.

An investment advisor without a place of business in South Carolina and not more than five clients in the state during the previous twelve months is not required to register.

Certain advisers to private funds may be exempt from the registration requirements.  For more information, please see Order 19003.

Investment Adviser Registration Instructions/Checklist

Notice Filing of Investment Advisers

Federally registered investment advisers must notice file with the Division if the company has a physical presence in this state.  Notice filing is also required if the firm is not physically located in South Carolina, but the firm has more than five clients that reside in South Carolina. 

All investment adviser representatives that have a place of business in South Carolina and are employed by a federally registered investment adviser must register with the Division.

Statutory References for Registration:  S.C. Code Ann. § 35-1-403, 404, 406 and 702.