Step 2: Register Your Firm in North Carolina. Each investment advisor representative (IAR) in the firm is required to complete a U-4 Uniform Application for Securities Registration or Transfer. As a sole proprietor in North Carolina, you will be required to submit Form U-4 for yourself as a representative of the firm. More specific requirements can be found in Step 3.
How to apply for a Texas Driver License
Watch our new videoOpens a new window on how to apply for a Texas Driver License
The Guide for First Time DL/ID Applicants (DL-100E) is designed as a visual aid to guide you through the Driver License (DL) and Identification (ID) card application process.
The Department issues driver licenses valid for up to six years to Texas residents. The Texas Driver’s Handbook is available online to help you qualify for a Texas driver license. You will need to provide proof of the following to apply for a driver license:
U.S. Citizenship or, if you are not a U.S. Citizen, evidence of lawful presence
Identity, and
Evidence of Texas Vehicle Registration* for each vehicle you own. Registration must be current. Visit Texas DMV vehicle registration for more information. (New Residents who are surrendering an out-of-state driver license only)
Proof of Insurance* for each vehicle you own
*If you do not own a vehicle, you will sign a statement affirming this.
You may download this brochure for information and this checklist to assist you in determining which documents you may have that will meet these requirements.
Additionally, you will need to provide evidence of completion of:
Impact Texas Driver (ITD) if you will be taking a driving test for the issuance of your driver license.
Driver education, if you are under 25 years of age. (Does not apply to new residents who are 18 years of age or older and surrendering an out-of-state driver license)
Once you have gathered the necessary documents and completed the required courses, you will need to do the following:
Complete the driver license application before arriving at your local office. (This form is also available at all driver license offices)
Visit your local driver license office. You may be able to get in-line before arriving. Locate the office nearest you.
Provide the following documentation to the customer service representative:
Application for the issuance of a driver license.
U.S. Citizenship or, if you are not a U.S. Citizen, evidence of lawful presence
Texas Residency
Identity, and
Social Security Number
Pay the application fee.
Provide your thumbprint.
Have your picture taken.
Pass Vision Exam.
Take and pass the knowledge and driving tests. You may complete the testing requirements at the DL office or through a Third Party provider. Read about testing in other languages and driving test requirements.
The following applicants have additional requirements. Select below for more information:
New residents who have recently moved to Texas and hold a valid, unexpired driver license from another state or country should read the information found on our New Texas Residents page.
Individuals under 18 years of age applying for a Texas driver license must meet additional requirements. For more information, visit the Teen Drivers page.
Temporary visitors and foreign students applying for a Texas driver license must meet additional requirements. For more information, visit the U.S. Citizenship or Lawful Presence Requirement page.
For motorcycle and moped applicants, visit our Motorcycle and Moped Licenses page for more information on obtaining a Class M license.
Some disabled veterans may qualify for a fee exemption on their driver license or ID card. A veteran designation for driver licenses is also available for qualifying veterans. More information about these services, including qualification requirements, is available on the Veteran Services page.
For information on the Address Confidentiality Program, visit the Address Confidentiality Program page.
Once your driver license has been issued, you will receive a temporary receipt. Before leaving the driver license office, review the printed information on your temporary receipt for accuracy. If any of the information is incorrect, notify the customer service representative. Your new card will arrive in the mail in approximately 2 – 3 weeks. To check the mailing status of your card, visit our mailing status web page.
Note: If you hold an identification card, you are no longer eligible to apply for a driver license unless you surrender your identification card at the time of application.
Becoming a financial adviser in South Carolina means establishing an investment adviser (IA) firm or working for an existing firm as an investment adviser representative (IAR). This informational guide will cover both IA and IAR registration at the state level with the South Carolina Securities Division as well as at the federal level with the Securities and Exchange Commission.
Featured Programs:
Capella University - Online Finance Degree Programs at the BS, MBA, DBA, and PhD Levels
The University of Scranton - Master of Science in Finance
Georgetown University - Online Master of Science in Finance (MSF)
Investment advisers and firm representatives doing business in South Carolina are bound to the South Carolina Uniform Securities Act.
Step 1. Get Your Education
The degree you earn will be verifiable by prospective clients through the Investment Adviser Public Disclosure (IAPD) Many IA firm proprietors and representatives pursue a degree to develop their investment advising expertise.
Some degrees that might be worth considering are:
BA-Accounting
BA-Consumer and Family Financial Services
BS-Accounting
MBA –Finance or MBA-Accounting and Finance
MS-Finance
MS-Personal Financial Planning
MS-Accounting
PhD-Finance
PhD-Accounting
Expect your degree program to include some or all the following courses. Upon completion of these courses, you are one step closer to becoming an expert in the investment advising field:
Taxation
Quantitative applications applied to business
Economics
Business communications
Computer information systems
Ethics in business
Finance
Accounting
Statistics
Management
Behavior of groups, persons, and organizations
Business law
Marketing
Professional certifications are well respected in the investment advising industry. These designation require at least a four year degree or sufficient on the job training and existing industry experience. Earning one of these designations allows investment adviser exam requirements to be waived by the South Carolina Securities Division:
Certified Financial Planner (CFP)
Chartered Financial Consultant (ChFC)
Chartered Financial Analyst (CFA)
Personal Financial Specialist (PFS)
Chartered Investment Counselor (CIC)
Step 2: Register Your Firm in South Carolina
(This step will be needed if you are establishing your own IA firm. If you plan to pursue a career with an established firm, move on to Step 3.)
The FINRA-managed Investment Adviser Registration Depository (IARD) houses all of the necessary electronic forms you will need to register your firm and the representatives in your employ. State level registration through the South Carolina Securities Division is required for all firms managing less than $100 million in client assets. Managing assets totaling more than $100 million will require federal level registration through the Securities and Exchange Commission. The following describes the steps for both.
Establish a User Account in the IARD. This will involve completing and submitting Entitlement Forms and assigning yourself or another individual of your choosing the role of Super Accountant Administrator (SAA). The SSA will receive a confirmation email with all login information for the Firm Gateway. Access to the gateway allows the following steps to be completed.
IARD User Accounts will also be utilized to fund all state filing fees, registration fees, IAR registration and testing fees. Fund the account to cover the following:
Exam fees for each IAR that will be in the firm
South Carolina’s $210 initial state-covered firm filing fee
South Carolina’s $55 initial state filing fee for IAR in your firm’s employ
An initial $225 filing fee (for SEC-registered advisers only)
Complete and submit Form ADV electronically. The ADV provides information on your firm’s fee structure, investment philosophy, and relevant background data on IARs employed by your firm. The information contained within the ADV is to be made available to prospective clients.
Complete and Submit Form U-4 Uniform Application for Securities Registration or Transfer. In South Carolina, owners of registered firms and sole proprietors are considered representatives of their own firms and must complete the form as well.
Send the following by mail to Office of the Attorney General, Securities Section, PO Box 11549, Columbia, SC 29211-1549:
Copies of client contracts and agreements that you will use
Verified firm financial statements
Results of South Carolina Criminal record check (requires request form to be sent first along with a $25 fee paid by business check or money order to address on form)
A listing of all investment adviser representatives you will employ along with their CRD numbers and office locations
Step 3: Take the Required Exam(s)
The Securities and Exchange Commission and the South Carolina Securities Division waive exam requirements for the following designees:
Certified Financial Planner (CFP)
Personal Financial Specialist (PFS)
Chartered Financial Analyst (CFA)
Chartered Financial Consultant (ChFC)
Chartered Investment Counselor (CIC)
Prior to state or federal registration, you will be required to attempt and pass one of the following:
The Series 65, Uniform Investment Adviser Law Examination
OR
The Series 7, General Securities Representative Examination (requires that a FINRA-member firm sponsor the IAR candidate) in combination with the Series 66, Uniform Combined State Law Examination
Register for the exam(s) using one of the forms listed here:
The Form U-4 Uniform Application for Securities Industry Registration or Transfer has two primary purposes: IAR exam application and federal or state registration application.
OR
The Form U-10, Uniform Examination request for non-FINRA Members, is only used for the non-sponsored exams and is an exam only application. The Series 7 exam is unique due to the fact that it requires a sponsor; for this reason, the Form U-10 to cannot be used to apply. In the event that the Form U-10 is used to apply for your Series 65 Exam, you should also ensure that the formal registration process is completed within 24 months of the completing the exam. The Form U-4 will be used for this formal registration.
Scheduled exam(s) will be taken at one of the designated Prometric or Pearson Professional Center testing locations in South Carolina. All exams must be scheduled within 120 days of your initial registration.
You should plan to arrive at the testing center prior to your scheduled exam on the designated day.
Exam scores will be provided to all participants immediately following the exam completion.
Step 4: Ongoing Renewal and Update Requirements in South Carolina
Investment Advisor Firm:
The Investment Adviser Registration Depository (IARD) will be used to complete IAR license and IA firm renewals for South Carolina state registrants and federally registered IAs
The Investment Adviser Registration Depository (IARD) administrative fees charged for renewals are $100
Renewal fees must be paid for each state each IAR in the firm’s employ is currently registered
Updates to the Form ADV will be required each year to show any changes to fee structure or billing practices as well as any disciplinary action taken against the firm’s IARs
License renewals should be completed by the December 31st deadline each year
South Carolina’s renewal fees are $210 for the firm and $55 for each IAR employed by the firm
Investment Adviser Representatives: Sole proprietors will need to maintain their own Form U-4. Employees of a new firm will provide their firm’s compliance department with all of the necessary documents needed to update the U-4. The firm’s Super Account Administrator (SAA) will have a 30 day window in which to make these updates. Changes will need to occur if any of the information listed below has changed: