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An important update to investor accreditation on Percent

2021 is shaping up to be Percent’s best year yet. Though we are close to the year’s end, our team still has plenty to share in terms of new features and advancements on our investment platform.

To launch these new features and alerts, we need to implement changes to how our platform compliantly qualifies investors.

Making changes to accreditation on Percent

Starting November 19th, all investors who wish to invest in new deals on Percent will need to have their accreditation status re-verified. This process, handled by our trusted partners at Parallel Markets, verifies each investor’s “Accredited Investor” status by securely collecting and reviewing your accreditation materials and certifying the accreditation status.

All current investors on the Percent platform, as well as incoming new investors, will need to go through this new accreditation process to continue investing after November 19, 2021. 

How long does the accreditation process take?

Percent’s new accreditation method takes less than ten minutes to complete, and is valid for up to five years. Your accreditation status will be validated within 48 hours, and you will receive an email notification upon completion.

Why did Percent make changes to accreditation?

To deliver new additions to Percent, our platform needs to make the shift from Regulation D 506(b) offerings to Regulation D 506(c) offerings. Doing so not only brings many investor-requested changes and features (including a deal calendar); it also allows us as a company to advertise our deals more explicitly via email, social networks, and beyond.

Making this switch from 506(b) offerings to 506(c) also requires us to change how our platform qualifies investors in order to be compliant with applicable regulations. All new Percent investors will also need to go through the same accreditation process.

What information do I need to verify accreditation?

To verify your accredited status by income:

  • Upload copies of any tax form (including W-2, 1099, 1040 or K-1) containing salary/income information of at least $200k (or $300k with spouse) for the past two years, or
  • Upload a letter from a lawyer, CPA or investment advisor verifying your income and accreditation status.

To verify your accredited status by net worth:

  • Upload asset documentation and a full credit report showing a net worth of at least $1 million, or
  • Upload a letter from your lawyer, CPA, or investment advisor verifying your accreditation status.

To verify your accredited status by professional license:

  • Indicate which professional license you hold (Series 7, 65, or 82) and provide your CRD number as listed on FINRA’s BrokerCheck.

Who is Parallel Markets, and why should I trust them with sensitive information? 

Parallel Markets is a leading investor accreditation verification service. They work with financial institutions like Percent to make the accreditation process as easy as possible and to help investors keep their accreditation status up to date.

Parallel Markets are SOC 2 Certified and use industry-leading security. You can read more about their security policy here.

How do I start the accreditation process?

To start the new accreditation process today, please click the button below.

If you have any questions about accreditation or investing on Percent, please reach out to our Customer Success team.

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