Does maintaining a place of business in the state trigger a notice filing (regardless of number of clients)?
No.
N.J. STAT. ANN. § 49:3-56(n)(2017)
What is the maximum number of clients adviser can have in the state without triggering a notice filing?
5
N.J. STAT. ANN. § 49:3-56(g)
What sorts of clients are not counted for purposes of determining whether to notice file?
- other investment advisers,
- any person that is registered as, or excluded from the definition of, an “investment adviser” under section 203 of the “Investment Advisers Act of 1940”,
- broker-dealers,
- banks,
- bank holding companies,
- savings institutions,
- trust companies,
- insurance companies,
- investment companies as defined in the “Investment Company Act of 1940”,
- pension or profit-sharing trusts, or
- other financial institutions or institutional buyers, whether acting for themselves or as trustees.
N.J. STAT. ANN. § 49:3-56(n), 49:3-49(g)(2)(vi)(2017)
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.