Interactive Tools

Compliance Tools

Free interactive tools to help you understand your compliance costs and compare state requirements.

State Registration Fee Calculator

Estimate your state IA firm and IAR registration costs.

IA Firm Registration Fee
$125
IAR Registration (1 x $50)
$50
IARD System Fee (1 x $15)
$15
Total Estimated Cost$190
IAR Continuing Education: Required — 12 credits/year (6 Products & Practice + 6 Ethics)
Regulatory body: Dept of Financial Protection & Innovation (DFPI)

Fee data from IARD IA Firm Fee Schedule (11/1/2025) and IAR Fee Schedule (3/6/2026). Does not include state-specific bonding or net capital requirements. IARD system fee is $15/IAR.

Net Capital & Bonding Requirements

Check your state's minimum net worth and surety bond requirements.

Minimum Net Worth Required$10,000
Follows NASAA Model Rule 202(d)-1

Based on NASAA Model Rules 202(d)-1 and 202(e)-1, state regulator websites, and NV 2024 Legislative Survey. Fee deduction authority alone does not constitute custody under the updated 2025-2026 NASAA model. Verify with your state regulator.

Multi-State Registration Cost Calculator

Estimate total registration costs across multiple state jurisdictions.

California
StateIA FirmIAR (1)IARDSubtotal
California$125$50$15$190
Total (1 state)$190

Fee data from IARD IA Firm Fee Schedule (11/1/2025) and IAR Fee Schedule (3/6/2026). IARD system fee is $15/IAR per state. Does not include state-specific bonding or net capital requirements.

Compliance Cost Calculator

Estimate your current compliance costs and potential savings.

150
110

Estimated Results

Current Annual Cost
$59,500
CA Platform Cost
$2,388/yr
$199/mo
Annual Savings
$57,112
ROI
2392%
Request a Demo
How is this estimate calculated?

Current cost estimate is based on industry benchmarks: a base cost of $8,500 per employee per year, adjusted by AUM tier (1.0x–2.0x), number of registered states (+15% per additional state), and compliance method (manual adds 40%, full automation reduces by 25%).

Compliance Approved pricing reflects our published plan tiers: Starter ($199/mo for up to 5 users), Professional ($499/mo for up to 25 users), and Enterprise ($999/mo for unlimited users).

This calculator provides estimates for informational purposes only. Actual compliance costs vary based on firm-specific factors including regulatory complexity, examination history, and scope of advisory activities.

State Rule Comparison Tool

Compare compliance requirements across states (select 2–3 states).

CaliforniaTexas
RequirementCaliforniaTexas
Registration RequirementsDFPI registration, Series 65/66 requiredTSSB registration, Series 65/66 required
Fee Structure$125 firm, $50/IAR$75 firm, $35/IAR
Advertising RulesNASAA marketing model not yet adoptedAdopted by reference to SEC rules (eff. March 2025)
Custody RequirementsConfirmed — state custody rule on fileState custody requirements
Record-Keeping5-year retention, electronic archiving required5-year retention standard
Exam FrequencyEvery 3-5 years (risk-based)Every 4-6 years

Highlighted rows indicate differences between selected states.

State Regulator Directory

Quick reference for every state's securities regulator, fees, and key requirements.

51 jurisdictions
AL

Alabama

Alabama Securities Commission

IA Firm Fee
$250 / $250
Initial / Renewal
IAR Fee
$70 / $70
Initial / Renewal
Net Capital (Custody)
$10,000
Net Capital (Discretion)
$10,000
Flat $10K net capital for ALL advisers regardless of services
AK

Alaska

Alaska Division of Banking & Securities

IA Firm Fee
$250 / $250
Initial / Renewal
IAR Fee
$75 / $75
Initial / Renewal
Net Capital (Custody)
$35,000
Net Capital (Discretion)
$10,000
AZ

Arizona

Arizona Corporation Commission

IA Firm Fee
$250 / $250
Initial / Renewal
IAR Fee
$40 / $40
Initial / Renewal
Net Capital (Custody)
$35,000
Net Capital (Discretion)
$10,000
AR

Arkansas

Arkansas Securities Department

CE Required
IA Firm Fee
$300 / $300
Initial / Renewal
IAR Fee
$75 / $75
Initial / Renewal
Net Capital (Custody)
$35,000
Net Capital (Discretion)
$10,000
CA

California

Dept of Financial Protection & Innovation (DFPI)

CE Required
IA Firm Fee
$125 / $125
Initial / Renewal
IAR Fee
$50 / $50
Initial / Renewal
Net Capital (Custody)
$35,000
Net Capital (Discretion)
$10,000
CO

Colorado

Division of Securities (DORA)

CE Required
IA Firm Fee
$80 / $80
Initial / Renewal
IAR Fee
$15 / $15
Initial / Renewal
Net Capital (Custody)
$35,000
Net Capital (Discretion)
$10,000
CT

Connecticut

Dept of Banking — Securities Division

IA Firm Fee
$340 / $215
Initial / Renewal
IAR Fee
$125 / $125
Initial / Renewal
Net Capital (Custody)
$35,000
Net Capital (Discretion)
$10,000
DE

Delaware

Division of Securities

IA Firm Fee
$300 / $300
Initial / Renewal
IAR Fee
$65 / $65
Initial / Renewal
Net Capital (Custody)
$35,000
Net Capital (Discretion)
$10,000
DC

District of Columbia

Dept of Insurance, Securities & Banking

CE Required
IA Firm Fee
$250 / $250
Initial / Renewal
IAR Fee
$45 / $45
Initial / Renewal
Net Capital (Custody)
$35,000
Net Capital (Discretion)
$10,000
FL

Florida

Office of Financial Regulation (OFR)

CE Required
IA Firm Fee
$200 / $200
Initial / Renewal
IAR Fee
$50 / $50
Initial / Renewal
Net Capital (Custody)
$35,000
Net Capital (Discretion)
$10,000
GA

Georgia

Secretary of State — Securities Division

IA Firm Fee
$255 / $105
Initial / Renewal
IAR Fee
$255 / $105
Initial / Renewal
Net Capital (Custody)
$35,000
Net Capital (Discretion)
$10,000
HI

Hawaii

Dept of Commerce & Consumer Affairs

CE Required
IA Firm Fee
$100 / $100
Initial / Renewal
IAR Fee
$50 / $50
Initial / Renewal
Net Capital (Custody)
$35,000
Net Capital (Discretion)
$10,000
ID

Idaho

Dept of Finance — Securities Bureau

IA Firm Fee
$150 / $150
Initial / Renewal
IAR Fee
$30 / $30
Initial / Renewal
Net Capital (Custody)
$35,000
Net Capital (Discretion)
$10,000
IL

Illinois

Secretary of State — Securities Dept

CE Required
IA Firm Fee
$400 / $400
Initial / Renewal
IAR Fee
$150 / $150
Initial / Renewal
Net Capital (Custody)
$35,000
Net Capital (Discretion)
$10,000
IN

Indiana

Secretary of State — Securities Division

IA Firm Fee
$100 / $50
Initial / Renewal
IAR Fee
$25 / $25
Initial / Renewal
Net Capital (Custody)
$35,000
Net Capital (Discretion)
$10,000
IA

Iowa

Insurance Division — Securities Bureau

IA Firm Fee
$100 / $100
Initial / Renewal
IAR Fee
$30 / $30
Initial / Renewal
Net Capital (Custody)
$35,000
Net Capital (Discretion)
$10,000
KS

Kansas

Office of the Securities Commissioner

IA Firm Fee
$0 / $0
Initial / Renewal
IAR Fee
$0 / $0
Initial / Renewal
Net Capital (Custody)
$35,000
Net Capital (Discretion)
$10,000
Kansas charges $0 for all registration fees
KY

Kentucky

Dept of Financial Institutions

CE Required
IA Firm Fee
$100 / $100
Initial / Renewal
IAR Fee
$50 / $50
Initial / Renewal
Net Capital (Custody)
$35,000
Net Capital (Discretion)
$10,000
LA

Louisiana

Office of Financial Institutions

IA Firm Fee
$150 / $150
Initial / Renewal
IAR Fee
$0 / $0
Initial / Renewal
Net Capital (Custody)
$35,000
Net Capital (Discretion)
$10,000
Louisiana charges $0 for IAR fees; no standard de minimis exemption
ME

Maine

Office of Securities

IA Firm Fee
$200 / $200
Initial / Renewal
IAR Fee
$50 / $25
Initial / Renewal
Net Capital (Custody)
$35,000
Net Capital (Discretion)
$10,000
MD

Maryland

Attorney General — Securities Division

CE Required
IA Firm Fee
$300 / $300
Initial / Renewal
IAR Fee
$50 / $50
Initial / Renewal
Net Capital (Custody)
$35,000
Net Capital (Discretion)
$10,000
MA

Massachusetts

Securities Division

IA Firm Fee
$300 / $300
Initial / Renewal
IAR Fee
$50 / $50
Initial / Renewal
Net Capital (Custody)
$35,000
Net Capital (Discretion)
$10,000
MI

Michigan

Dept of Licensing & Regulatory Affairs

CE Required
IA Firm Fee
$200 / $200
Initial / Renewal
IAR Fee
$65 / $65
Initial / Renewal
Net Capital (Custody)
$35,000
Net Capital (Discretion)
$10,000
MN

Minnesota

Department of Commerce

CE Required
IA Firm Fee
$100 / $100
Initial / Renewal
IAR Fee
$50 / $50
Initial / Renewal
Net Capital (Custody)
$35,000
Net Capital (Discretion)
$10,000
MS

Mississippi

Secretary of State — Securities Division

CE Required
IA Firm Fee
$200 / $200
Initial / Renewal
IAR Fee
$50 / $50
Initial / Renewal
Net Capital (Custody)
$35,000
Net Capital (Discretion)
$10,000
MO

Missouri

Secretary of State — Securities Division

IA Firm Fee
$200 / $100
Initial / Renewal
IAR Fee
$50 / $50
Initial / Renewal
Net Capital (Custody)
$35,000
Net Capital (Discretion)
$10,000
MT

Montana

State Auditor — Securities Dept

CE Required
IA Firm Fee
$400 / $400
Initial / Renewal
IAR Fee
$100 / $100
Initial / Renewal
Net Capital (Custody)
$35,000
Net Capital (Discretion)
$10,000
NE

Nebraska

Dept of Banking & Finance

CE Required
IA Firm Fee
$200 / $200
Initial / Renewal
IAR Fee
$40 / $40
Initial / Renewal
Net Capital (Custody)
$35,000
Net Capital (Discretion)
$10,000
No standard de minimis exemption
NV

Nevada

Secretary of State — Securities Division

CE Required
IA Firm Fee
$300 / $300
Initial / Renewal
IAR Fee
$110 / $110
Initial / Renewal
Net Capital (Custody)
$35,000
Net Capital (Discretion)
$10,000
NH

New Hampshire

Secretary of State — Securities Regulation

IA Firm Fee
$250 / $200
Initial / Renewal
IAR Fee
$130 / $100
Initial / Renewal
Net Capital (Custody)
$35,000
Net Capital (Discretion)
$10,000
No standard de minimis exemption
NJ

New Jersey

Bureau of Securities

CE Required
IA Firm Fee
$550 / $550
Initial / Renewal
IAR Fee
$210 / $210
Initial / Renewal
Net Capital (Custody)
$35,000
Net Capital (Discretion)
$10,000
NM

New Mexico

Regulation & Licensing Dept — Securities Division

IA Firm Fee
$300 / $300
Initial / Renewal
IAR Fee
$50 / $50
Initial / Renewal
Net Capital (Custody)
$2,000,000
Net Capital (Discretion)
$10,000
$2M custody requirement — highest in the country. All advisers must maintain minimum $5K net worth.
NY

New York

Attorney General — Investor Protection Bureau

IA Firm Fee
$200 / $200
Initial / Renewal
IAR Fee
$200 / $200
Initial / Renewal
Net Capital (Custody)
$35,000
Net Capital (Discretion)
$10,000
NY does not register/examine IAs at state level — advisers with $25M+ AUM register with SEC under §203A exception
NC

North Carolina

Secretary of State — Securities Division

IA Firm Fee
$300 / $300
Initial / Renewal
IAR Fee
$75 / $75
Initial / Renewal
Net Capital (Custody)
$35,000
Net Capital (Discretion)
$10,000
ND

North Dakota

Securities Department

CE Required
IA Firm Fee
$120 / $120
Initial / Renewal
IAR Fee
$60 / $60
Initial / Renewal
Net Capital (Custody)
$35,000
Net Capital (Discretion)
$10,000
OH

Ohio

Division of Securities

IA Firm Fee
$100 / $100
Initial / Renewal
IAR Fee
$35 / $35
Initial / Renewal
Net Capital (Custody)
$35,000
Net Capital (Discretion)
$10,000
OK

Oklahoma

Dept of Securities

CE Required
IA Firm Fee
$300 / $300
Initial / Renewal
IAR Fee
$50 / $50
Initial / Renewal
Net Capital (Custody)
$35,000
Net Capital (Discretion)
$10,000
OR

Oregon

Division of Financial Regulation

CE Required
IA Firm Fee
$200 / $200
Initial / Renewal
IAR Fee
$50 / $50
Initial / Renewal
Net Capital (Custody)
$35,000
Net Capital (Discretion)
$10,000
PA

Pennsylvania

Dept of Banking & Securities

IA Firm Fee
$400 / $400
Initial / Renewal
IAR Fee
$135 / $120
Initial / Renewal
Net Capital (Custody)
$35,000
Net Capital (Discretion)
$10,000
RI

Rhode Island

Dept of Business Regulation

CE Required
IA Firm Fee
$300 / $300
Initial / Renewal
IAR Fee
$60 / $60
Initial / Renewal
Net Capital (Custody)
$35,000
Net Capital (Discretion)
$10,000
SC

South Carolina

Attorney General — Securities Division

CE Required
IA Firm Fee
$210 / $210
Initial / Renewal
IAR Fee
$55 / $55
Initial / Renewal
Net Capital (Custody)
$50,000
Net Capital (Discretion)
$35,000
Higher than NASAA model: Custody $50K / Discretion $35K
SD

South Dakota

Division of Insurance — Securities Regulation

IA Firm Fee
$100 / $100
Initial / Renewal
IAR Fee
$50 / $50
Initial / Renewal
Net Capital (Custody)
$35,000
Net Capital (Discretion)
$10,000
TN

Tennessee

Dept of Commerce & Insurance — Securities

CE Required
IA Firm Fee
$200 / $200
Initial / Renewal
IAR Fee
$50 / $50
Initial / Renewal
Net Capital (Custody)
$35,000
Net Capital (Discretion)
$10,000
TX

Texas

State Securities Board (TSSB)

IA Firm Fee
$75 / $40
Initial / Renewal
IAR Fee
$35 / $20
Initial / Renewal
Net Capital (Custody)
$35,000
Net Capital (Discretion)
$10,000
No standard de minimis exemption
UT

Utah

Division of Securities

IA Firm Fee
$40 / $40
Initial / Renewal
IAR Fee
$30 / $30
Initial / Renewal
Net Capital (Custody)
$35,000
Net Capital (Discretion)
$10,000
VT

Vermont

Dept of Financial Regulation

CE Required
IA Firm Fee
$300 / $300
Initial / Renewal
IAR Fee
$80 / $80
Initial / Renewal
Net Capital (Custody)
$35,000
Net Capital (Discretion)
$10,000
VA

Virginia

State Corporation Commission — Securities

IA Firm Fee
$200 / $200
Initial / Renewal
IAR Fee
$40 / $40
Initial / Renewal
Net Capital (Custody)
$35,000
Net Capital (Discretion)
$10,000
WA

Washington

Dept of Financial Institutions

CE Required
IA Firm Fee
$160 / $85
Initial / Renewal
IAR Fee
$50 / $30
Initial / Renewal
Net Capital (Custody)
$35,000
Net Capital (Discretion)
$10,000
WV

West Virginia

State Auditor — Securities Division

IA Firm Fee
$200 / $200
Initial / Renewal
IAR Fee
$105 / $87
Initial / Renewal
Net Capital (Custody)
$35,000
Net Capital (Discretion)
$10,000
WI

Wisconsin

Dept of Financial Institutions

CE Required
IA Firm Fee
$400 / $200
Initial / Renewal
IAR Fee
$80 / $80
Initial / Renewal
Net Capital (Custody)
$35,000
Net Capital (Discretion)
$10,000
WY

Wyoming

Secretary of State — Securities Division

IA Firm Fee
$250 / $250
Initial / Renewal
IAR Fee
$45 / $45
Initial / Renewal
Net Capital (Custody)
$35,000
Net Capital (Discretion)
$10,000

Fee data: IARD IA Firm Fee Schedule (11/1/2025) and IAR Fee Schedule (3/6/2026). Net capital: NASAA Model Rules 202(d)-1 and 202(e)-1. Verify directly with your state regulator.

Ready to transform your compliance workflow?

Be among the first to experience AI-powered compliance technology.

Join the WaitlistBook a Demo