This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams.

In this episode you will learn:

- The specific Assets Under Management (AUM) thresholds that determine whether an Investment Adviser must register with the state or the SEC.

- The rules and limitations of the de minimis exemption for state registration.

- How operating as a multi-state adviser can affect SEC registration eligibility.

- The precise triggers and timeframes for switching between state and federal registration.

- The distinction between full state registration and the 'notice filing' required for federal covered advisers.