Advisor and Staff Onboarding Checklist

HR collects the countersigned offer, W-4, state withholding form, and I-9 with supporting identity documents. Capture U5 release authorization at this stage so the prior-firm U5 can be requested without delay.

Upload a voided check or bank letter for direct deposit. Confirm any deferred-comp or 401(k) deferral elections so the first payroll cycle posts cleanly.

Pull FINRA BrokerCheck and the IAPD record. Request the prior-firm U5 and read every disclosure event — customer complaints, judgments, terminations, regulatory actions. Any positive disclosure routes to the CCO interview before U4 is filed.

Compliance files U4 with employment history, residential history, and all DRP disclosures. Double-check the home-office address and the OSJ branch CRD number — incorrect branch coding is a common amendment trigger.

Confirm which exams the role requires — typically SIE plus Series 7 and 66 for dually-registered reps, or Series 65 for advisory-only IARs. Check window dates if any have lapsed; a two-year break voids prior passes under the SIE rule.

Open enrollment windows in CRD for any unscheduled exams and book Prometric seats. The 120-day window starts at U4 filing — missing it forces a re-file.

Cross-check the new hire's existing client roster against state notice-filing thresholds (often 5 clients per state). Add states to the IAR registration before the first meeting in that state, not after.

IT issues the encrypted laptop, enrolls the user in MFA (Duo or Microsoft Authenticator), and confirms BitLocker / FileVault is enforced. No access to client data until MFA enrollment is verified.

Set up Wealthbox or Salesforce FSC with role-appropriate visibility, then provision Schwab Advisor Center / Fidelity Wealthscape / Altruist with the correct rep code. Sole-rep visibility on accounts must wait until U4 is approved.

Route the firm mailbox through Smarsh or Global Relay before first send. Issue MyRepChat or Hearsay Relate for client texting; personal SMS for client business is an off-channel violation that has driven multi-million-dollar SEC penalties since 2022.

Operations Manager walks the office: workstation, printer, conference rooms, secure shred bins, and the file room. Introduce the advisory team, CSAs, and the supervising principal in person.

Cover CIP, CDD, beneficial-owner identification at 25%+, OFAC SDN screening, and the firm's SAR escalation path. Include the wire-instruction-change call-back rule — fraudulent wire requests are the most common AML loss event at small RIAs.

Review when Form CRS must be delivered (first recommendation, new account, new service) and how delivery is logged in CRM. Walk through how to document Reg BI / fiduciary best-interest rationale on every recommendation — exam staff want the why, not just a checkbox.

Disclose all reportable accounts (self, spouse, dependents). Cover pre-clearance requirements for restricted-list securities and the quarterly transaction report cadence under Rule 204A-1.

Cover Rule 2210 retail-communication pre-approval, the prohibition on using personal email or unmonitored DMs, and the testimonial rule under the new advertising rule (206(4)-1). Collect the signed attestation packet.

Cover at least one discovery, one annual review, and one planning meeting. Debrief afterward: what was disclosed, how Form CRS / ADV 2 delivery was handled, how the advisor documented the recommendation rationale.

Tour the model lineup in iRebal or Tamarac. Walk a live drift report, cover wash-sale handling, and review who signs off on rebalance suggestions before trades release.

Review licensing status, training completions, any client interactions to date, and any open registration items by state. Document one tangible blocker the firm needs to clear.

CCO confirms the file is complete: U4 approved, fingerprints cleared, all attestations on file, OFAC and BrokerCheck refresh run, heightened-supervision memo (if any) recorded. This is the file the next regulator exam will pull.