Minnesota Investment Adviser Bond
Purchase your bond instantly online when you choose one of the 3 term options below. Save time and money by extending your bond term. Choosing a longer term now means you pay 25% less for your bond each year and forego the annual renewal process.
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How much does an investment adviser surety bond cost in Minnesota?
Minnesota investment adviser bonds are issued instantly online for $375 when you choose SuretyBonds.com.
Simply click Buy Now to securely buy your bond via our secure bond checkout. It only takes a few minutes for you to be on your way to getting bonded as a Minnesota investment adviser.
Why is an investment adviser bond needed?
The Department of Commerce requires investment advisers to provide a $25,000 surety bond unless the applicant has no custody of or discretionary authority over client assets and has $100,000 in net capital. This bond is mandated by the State for the protection of consumers and serves as a guarantee that advisers will not take part in any kind of fraudulent activity, dishonesty, or misrepresentation as outlined by the Minnesota Securities Act.
What else do I need to know?
Minnesota investment adviser surety bonds have a one-year term and are continuous until canceled. The surety must give the state written notice at least 30 days prior to cancellation.
The adviser’s signature must be witnessed by a licensed notary.
Minnesota Investment Adviser Registration Requirements
To become a licensed investment adviser in Minnesota, there are several things you must do:
- Step #1: Submit an audited financial statement.
- Step #2: Purchase and maintain a surety bond of $25,000.
- Step #3: Maintain the minimum net worth required by the state.
- Step #4: Pay the $100 registration fee.
- Step #5: Pass the Series 65 or Series 66 exam.
- Step #6: Pay the $100 annual fee to the Financial Industry Regulatory Authority.
- Step #7: Register with the Secretary of State.
If you have any questions about becoming a licensed investment adviser in Minnesota or about getting a surety bond, give our experts a call at 1 (800) 308-4358.
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