Overview

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

Yes. Notice filing required if adviser maintains a place of business in Colorado or engages an investment adviser representative with a place of business in Colorado.
COLO. REV. STAT. § 11-51-401(1.6) (2016)

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

0
COLO. REV. STAT. § 11-51-401(1.6) (2016)

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

Colorado does not have an exclusion for institutional clients. 

COLO. REV. STAT. § 11-51-401(1.6) (2016)


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