# [Series 65] 59, State vs Federal IA Registration

Page: https://stenobird.com/podcast/open-exam-prep-7140559/series-65-59-state-vs-federal-ia-registration
Text version: https://stenobird.com/podcast/open-exam-prep-7140559/series-65-59-state-vs-federal-ia-registration.md
Podcast: [Open Exam Prep](https://stenobird.com/podcast/open-exam-prep-7140559)
Published: 2026-05-22T01:01:53+00:00
Episode link: https://open-exam-prep.captivate.fm/episode/series-65-59-state-vs-federal-ia-registration
Audio file: https://episodes.captivate.fm/episode/0861906d-24ff-4434-9de3-791100330d44.mp3
Processing state: not_requested
JSON: https://stenobird.com/v1/public/podcasts/open-exam-prep-7140559/episodes/series-65-59-state-vs-federal-ia-registration
Duration seconds: 200

## Resource

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.

## Actions

- request_transcript: `POST https://stenobird.com/v1/public/podcasts/open-exam-prep-7140559/episodes/series-65-59-state-vs-federal-ia-registration/transcription-requests` — Idempotently request low-priority transcript generation for this episode.
- read_markdown: `GET https://stenobird.com/podcast/open-exam-prep-7140559/series-65-59-state-vs-federal-ia-registration.md` — Read the agent-friendly Markdown representation of this episode resource.

A page view does not enqueue transcription. Agents should invoke `request_transcript` explicitly when they need this episode processed.

## Transcript

Full transcripts are not published on public pages unless there is a clear rights basis.