Do Investment Advisors have to register with the U.S. Securities and Exchange Commission?
Depending on their size, Investment Advisors have to register with either the SEC or the state securities agency where they have their principal place of business. For the most part, Investment Advisors who manage $25 million or more in client assets must register with the SEC. If they manage less than $25 million, they must register with the state securities agency in the state where they have their principal place of business.
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