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Investment Advisers and their Representatives

Persons who meet the statutory definition(s) of Investment Adviser and/or Investment Adviser Representative found in Minnesota Statute §80A.41 (16) & (17) generally must register with the Minnesota Department of Commerce. Registration requirements, as well as exemptions from registration, are defined in Minnesota Statute § 80A.5880A.61 and applicable rules in Minnesota Rules Chapter 2876.  The registration requirements are summarized below.

Effective July 1, 2017, applicants for an initial or renewal Investment Adviser Representative registration must now pay a $50 fee.

How to Register as an Investment Adviser

A person wishing to register an Investment Adviser in Minnesota must complete and file Form ADV Parts 1 and 2 on the Investment Adviser Registration Depository (IARD) electronic system. These forms should be completed according to the official Form ADV instructions, available on the IARD website.

Cybersecurity Investment Adviser Registrant Alert

How to Register as an Investment Adviser Representative

A person wishing to register as an Investment Adviser Representative in Minnesota must complete and file Form U4 on the Central Registration Depository (CRD) electronic system.  This form should be completed according to the official Form U4 instructions, available on the CRD website.  

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