What Is a New Jersey Investment Adviser Bond?
New Jersey Administrative Code Section 13:47A-2.2 requires that investment advisers with custody over client money or securities file a $35,000 surety bond if they do not have a net worth of $35,000. If you have discretionary authority of client funds, but don't have custody of them, you must have a net worth or surety bond of $10,000. The bond must follow the guidelines listed in Section 13:47A-2.3.
This bond ensures that investment advisers will perform all obligations under Chapter 47A of the New Jersey Administrative Code, including correctly applying and handling client finances. If the adviser fails to do so, clients can file claims against the bond.
How Much Does a New Jersey Investment Adviser Bond Cost?
New Jersey investment adviser bond premiums start at just 1% of the bond amount. Applicants with strong credit may pay just $100 for a $10,000 bond or $350 for a $35,000 bond.
If you have a lower credit score, you may pay a slightly higher rate. Apply now to get your exact price quote in minutes with no additional fees!
How Do I Get an Investment Adviser Bond in New Jersey?
You can apply for an investment adviser bond online 24/7. Simply provide the following information on our contact form:
- Name
- Address
- License type
Once you receive and pay for your bond quote, we'll deliver your original bond form in the mail. You must then sign and file it with the New Jersey Bureau of Securities.
How Fast Can I Get an Investment Adviser Bond?
Our industry-leading technology and responsive team allows us to offer New Jersey investment adviser bonds faster than any other company. We process orders placed by 4 PM CST Monday-Friday same-day. Choose overnight shipping at checkout if you're in a rush!
If you have questions about the New Jersey investment advisor or your application, call 1 (800) 308-4358 to speak with a friendly surety expert.
Who Regulates Licensing for Investment Advisers in New Jersey?
The New Jersey Department of Consumer Affairs Bureau of Securities enforces licensing requirements for investment advisers in the state. You can contact the bureau by calling 1 (973) 504-3600 or emailing [email protected].
How Long Does a New Jersey Investment Adviser Bond Last?
This bond expires every two years and must be renewed to maintain your legal licensing status. If the bond is canceled, claims can be made against the bond for up to two years for aggrieved parties.
How Do I Update or Change my Investment Adviser Bond Form?
If the New Jersey Bureau of Securities requires your bond form to be updated for any reason, contact your surety company. If you purchased your bond from SuretyBonds.com, email [email protected] to explain the needed change.
How Do I Get Licensed as an Investment Adviser in New Jersey?
To get licensed in New Jersey, provide the documentation below to the Investment Adviser Registration Depository (IARD):
- Form ADV
- $375 payment for each firm you open
You must also submit the following documentation to the Bureau of Securities:
- New Jersey surety bond (if required)
- Financial statement with a notarized certification
- Sample contract
- Sample of all business cards, brochures, ads and other sales documentation
- Passed written examination
- Written declaration the advisor has followed regulations of their home state (only if place of business is out-of-state)
