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.58, 80A.61 and applicable rules in Minnesota Rules Chapter 2876.
The registration requirements are summarized below.
Applicants for an initial or renewal Investment Adviser Representative registration must 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.
Order: Supervisory Experience-Investment Adviser (.pdf)