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Minnesota Investment Adviser Surety Bond

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The State of Minnesota Department of Commerce, Industries & Agencies Securities Department is responsible for investment adviser, representatives, broker-dealer and franchise registration. Minnesota Rules 2876 § 80A.58 and 80A.61 details the investment adviser registration requirements.

Surety Bond and Registration Requirements:

  • Payment of fee and completion of the application for registration through IARD with any required attachments.
  • A minimum net worth of $35,000 is required for investment advisers that have custody over client funds.
  • A minimum net worth of $10,000 is required for discretion over client funds.
  • Register the business with the Minnesota Secretary of State.
  • Complete a Consent to Service of Process.
  • Provide proof of passage of either the Series 65 or Series 66 for each supervisor or individual with control of investment funds.
  • Provide documentation of experience for a least one supervisor of the investment adviser.
  • Provide examples of client contracts, literature, and advertising materials.
  • Obtain a $25,000 to $100,000 surety bond if the investment adviser has discretion or custody over client funds. The bond amount will be determined by the state.
  • Submit financial reports as required in Minnesota Rule 2876.4113.

    • How Much Will This Bond Cost?

    The premium that you pay for a Minnesota Investment Adviser Surety Bond is dependent on credit and the bond amount required. Our rates stat at 1.5% of the bond amount with good credit. Contact our Surety Bond Specialists for a free quote that fits your specific situation.

    Did You know?

    That Minnesota investment advisers must renew their registration and bond annually by December 31.

    Related Links:

    Minnesota Information for Investment Advisers

    More Surety Bond Questions?

    Check out our FAQ page or What’s a Surety Bond? page. Should you need or choose to buy a surety bond, buy from us. SuretyGroup.com has been underwriting surety bonds throughout the U.S. for more than 35 years. When you work with us, you enjoy the unique benefit of dealing with a team of highly experienced surety agents with in-house underwriting authority. This allows you to receive competitive, low rates, quick approvals, and immediate bond delivery. In most cases, your bond will be delivered within 24 hours after you apply for it.

    DownloadApplication

    For a downloadable application