[Series 65] 60, IA Net Worth and Bonding Requirements

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The minimum net worth requirement for a state-registered investment adviser with custody of client assets is $35,000. - An investment adviser with discretionary authority over client accounts must maintain a minimum net worth of $10,000. - An adviser can post a $35,000 surety bond as an alternative to meeting the minimum net worth requirement for custody. - If an adviser's net worth falls below the minimum, they must notify the state administrator by the next business day. - An adviser with custody must file an audited balance sheet with the state, while an adviser with only discretion files an unaudited balance sheet. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep