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How much does an investment adviser bond cost in Washington?
The Washington Department of Financial Institutions requires investment advisers to post surety bonds to legally work within the state. The required bond amount varies based on the volume of funds the adviser has authority over. Applicants should verify their required bond amount with the state prior to bonding.
These bonds are subject to underwriting, which means the price you’ll pay is based not only on your required amount of bond coverage, but also on a review of your personal credit report. The best way to find out exactly how much you’ll pay is to apply for a free bond quote.
Fill out an online bond request form or call 1 (800) 308-4358 to speak with a surety specialist. We'll provide your free bond quote within one business day.
Why do I need this bond?
Washington investment adviser bonds ensure that principals (investment advisers) perform all obligations as an investment adviser licensed under the Securities Act of Washington according to law. Specifically, the bond guarantees that the principal accounts for all monies and securities entrusted to him or her for the use and benefit of consumers.
If the principal fails to conduct business lawfully, a claim can be filed against the bond. If the claim is validated, the bond protects consumers from financial loss up to the full bond amount.
What’s the fine print?
Investment adviser bonds in Washington are continuous until canceled. The surety can cancel the bond at any time by giving the principal and the Administrator of Securities 30 days’ written notice of termination.
How to become an investment adviser in Washington
Prior to applying for registration as an investment adviser in Washington, applicants must pass specific exams and tests. Applicants must then register online and complete and submit all required forms and fees.
Complete licensing information can be accessed via the "Additional Resources" section of this page. Begin the licensing process by purchasing the surety bond you need.