Wyoming Investment Adviser Bond Overview
- Purpose: To protect clients from financial harm if an investment advisor breaks regulations
- Who Needs It: All registered investment advisers in Wyoming
- Regulating Body: The Wyoming Secretary of State, Compliance Division
- Bond Amount: $10,000–$100,000, net worth deficiency rounded up to nearest $5,000
- Minimum Price: $100 or 1%
What Is a Wyoming Investment Adviser Bond?
A Wyoming investment adviser bond protects consumers by ensuring advisers uphold all regulations and act honestly.
The Wyoming Secretary of State’s Investment Adviser Auditor requires this bond as part of the licensing process for certain investment advisers in the state.
Bonding Requirements for Wyoming Investment Advisers
If you are a Wyoming investment adviser with custody or discretion of client funds or securities and you do not meet the $35,000 minimum net worth requirement, you’ll need a surety bond.
The surety bond requirement will equal the net worth deficiency rounded up to the nearest $5,000.
How Much Do Investment Adviser Bonds Cost?
Wyoming investment advisers bonds cost $100 for $10,000 coverage. Bonds greater than $10,000 start at a rate of 1% of the total coverage amount.
Exact rates vary based on credit score and other financial risk factors. Apply for your free quote today.
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
How Does a Wyoming Investment Adviser Bond Work?
A Wyoming investment advisor bond is a legal contract between three parties.
- Principal: The investment adviser filing the bond
- Obligee: The Wyoming Secretary of State, Compliance Division
- Surety: The issuing surety provider
In this agreement, the bonded investment adviser promises to uphold Wyoming regulations. The surety provider offers financial backing for the investment adviser.
How Do I Get an Investment Adviser Bond in Wyoming?
SuretyBonds.com provides the fastest and easiest way to get a Wyoming investment adviser surety bond. Follow these simple steps:
- Apply Online: Enter your information to receive a personalized quote.
- Pay Invoice: Complete your purchase online or over the phone.
- Receive Bond: Receive your official bond form via email.
Upon receipt, file the official bond with the Compliance Division as instructed.
Can I Get Bonded With Bad Credit?
Yes, you may still be able to get bonded with bad credit. However, poor credit will typically increase your premium rate.
Apply for a free quote or visit our Surety Bond Cost FAQ page to see how credit may impact your cost.
How Do I Renew My Bond?
Wyoming investment adviser bonds expire annually. To renew your bond, simply pay your renewal invoice when prompted.
No need to set a reminder! We’ll start contacting you 90 days before the expiration date with helpful reminders.
How to Become an Investment Adviser in Wyoming
Follow these steps to complete your Wyoming investment adviser license application:
- Submit Form ADV (Part 1A-1B, 2A and 2B) and the $250 filing fee online through IARD.
- Prepare a financial statement, including a copy of the balance sheet for the last fiscal year. If the balance sheet is as of a date more than 45 days from the date of filing of the application, an unaudited balance sheet is required.
- Submit a sample of all client contracts or offering documents you plan to use.
If you have custody of client funds, you’ll also need to get these documents:
- Unaudited balance sheet as of the end of the most recent fiscal year
- Surety bond form for any net worth deficiency
Mail everything, except for the Form ADV to the address below:
Compliance Division
Attn: Dave Barker
Herschler Building East
122 W 25th St, Suite 100
Cheyenne, WY 82002-0020
