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Does maintaining a place of business in the state trigger a notice filing (regardless of number of clients)?

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No.<br>CAL. CORP. CODE § 25230.1 (a)(2017)

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What is the maximum number of clients adviser can have in the state without triggering a notice filing?

5<br>CAL. CORP. CODE § 25230.1 (a) (2017)

What sorts of clients are not counted for purposes of determining whether to notice file?

Investment advisers, broker-dealers, banks, savings and loan associations, trust companies, insurance companies, investment companies registered under the Investment Company Act of 1940, pension and profit-sharing trusts (other than self-employed individual retirement plans), or other institutional investors or governmental agencies or instrumentalities designated by rule or order of the commissioner.

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<em>Viewing of these pages does not establish an attorney-client relationship. The information above is informational purposes only and should not be construed as legal advice. A lawyer should be consulted to confirm both applicability and any other issues that might affect or apply to your situation.</em>

California