Investment Advisers with its primary place of business in Hawaii

  1. RIA Registration – All individuals intending to do investment advisory work in the state are required to be licensed.  Information on licensing can be obtained by calling    (808) 586-2730.  In addition, all representatives of the applicant who will be referring clients to third-party money managers and receiving compensation for such must also be properly licensed. (HAR §16-39-438)
  2. Annual Financial Statement – If the applicant has custody or discretionary authority over client funds, and has been in business one year or more, an audited financial statement as of the last fiscal year is required.  If the applicant does not have custody or discretionary authority over client funds, financial statements that have been verified by an officer of the applicant and notarized is required. The Investment Adviser Verification Form is available for your use.  (HAR §16-39-435)
  3. Month-end Financial Statement – A balance sheet dated within 30 (thirty) days from the filing date, verified by an officer of the applicant, and notarized. The Investment Adviser Verification Form is available for your use. (HAR §16-39-435)
  4. Bond – If the applicant has custody of or discretionary authority over client funds or securities, a bond in the amount of $50,000 must be obtained.  The bond must be issued by a surety company qualified to do business in Hawaii, with the State of Hawaii named as obligee. The Investment Adviser Bond Form is available for your use. (HAR §16-39-434)
  5. Contracts – Submit all investment advisory agreements, contracts, and/or brochures that will be presented to the client. (HAR §16-39-430)
  6. Affidavit – Submit an affidavit stating that there was no investment adviser activity in Hawaii prior to registration.  The affidavit must be signed by an officer of the applicant and notarized.  The Investment Adviser Affidavit Form is available for your use.