NASAA’s continuing education rule ensures that IARs know current regulatory requirements and best practices. In the dynamic field of compliance, where policies and procedures constantly change, keeping up with these changes is extremely important.
Not to mention, if you do not complete your RIA Continuing Education, you cannot renew your registration for the following year.
The mandatory continued education (CE) program applies to both state-registered and SEC-registered investment advisers. To maintain their registration standing, advisers must attain 12 CE credits each year. These 12 credits must include 6 credits of Products and Practices and 6 credits of Ethics and Professional Responsibility.
*Note that credits must be split 6 and 6, or they will not satisfy the requirements.
Frequently Asked Questions About Continuing Education for Investment Advisors
Who needs to complete NASAA’s RIA Continuing Education?
- As of June 2024, 18 States and provinces have approved the need for continuing education.
- If any advisor is registered in one of these states, they will need to complete a continuing education program.
- This is the most recent list of states that require continuing education for investment advisors: Current List
Does an IAR need to make up missed CE credits?
- Yes. If not completed before December 31, courses completed in the current year will apply to the past year if a deficiency needs to be resolved before applying to the current year’s requirement.
If an IAR earns over 12 CE credits in a year, can he or she carry the excess credits to the next year?
- No. As policies and procedures are constantly changing, extra credits cannot be rolled over into the following year.
Is there a reporting fee?
- Yes, the IAR CE course reporting fee, sometimes called the roster fee, is $3 per credit per person.
Are IARs required to take specific courses?
- No, IARs are free to select approved courses that appeal to their interests and business models so long as they meet the credit requirements and the courses are approved content for the IAR CE program.
What if an IRA changes firms mid-year?
- If an IAR begins taking courses and then changes firms mid-year, the credits completed before the switch will appear in the IAR’s course transcript and will apply toward the annual CE requirement, regardless.
Where do I sign up for CE courses?
- RIA Compliance Technology has partnered with WebCE, one of our industry’s largest and most respected continuing education providers, to offer our customers and friends a 10% discount.
- Access your 10% discount through this link https://www.webce.com/riacompliance
- Discount will be applied upon checkout
- Once your courses are completed, WebCE will report your data to FINRA’s tracking system.
We want to help you complete your requirements, and get the most of your education.
If you have any questions about WebCE or our affiliation, schedule a call with us.
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