Before you can start investing on Percent, we need to verify that you are an accredited investor. As Percent investments are only available to accredited investors, this simple process is one of the last steps you need to take before you invest in your first deal.
To help expedite the accreditation process, we partnered with trusted accreditation platform Parallel Markets to verify each investor’s “Accredited Investor” status. By creating and linking your free Parallel Markets account to Percent, our investors can easily update and certify their accreditation status in under ten minutes.
How does the accreditation process work?
You can start the accreditation process in your Percent account settings, or by clicking here. From there, Parallel Markets will guide you through the necessary steps to become accredited, while securely collecting and reviewing your accreditation materials to certify your accreditation status. (See below for the materials needed to verify accreditation.)
To complete the accreditation process, you need to create a free Parallel Markets account. This account is different from your Percent account, and should have a different username and/or password. Your Parallel Markets account will be connected to your Percent at the end of the accreditation process.
Once your accreditation status has been verified, your Parallel Markets account has been linked to your Percent account, and your Percent account is funded, you will be able to invest in deals on Percent.
If you do not pass the accreditation process or are a non-accredited investor, you unfortunately cannot invest in deals on Percent.
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 do I need to verify my accreditation on Percent?
The Percent platform features investment opportunities following Regulation D Rule 506(c). This allows us as a company to advertise our deals via email, social networks, and beyond. It also affords us the opportunity to add advanced features for accredited investors.
Whereas some platforms allow self-accreditation, platforms like Percent following this Regulation D rule do not. All new Percent investors go through the same accreditation process, and verifying your accreditation only needs to happen once every five years.
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 (2019 and 2020), 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. Percent uses Parallel Markets’ accreditation platform to make this verification 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 accreditation process, please click the button below.
If you have any questions about accreditation or investing on Percent, please reach out to our Customer Success team.