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Title: Financial Counselor or Planner
Alternate Title:
Description: The business of "financial planning" means providing, or offering to provide, financial planning services or financial counseling or advice, on a group or individual basis. A person who, on advertisements, cards, signs, circulars, letterheads, or in any other manner, indicates that the person is a "financial planner," "financial counselor," "financial adviser," "investment counselor," "estate planner," "investment adviser," "financial consultant," or any other similar designation or title or combination thereof, is considered to be representing himself or herself to be engaged in the business of financial planning. Minnesota Department of Commerce
Subject: Financial Counselors/Planners
Financial Professionals
Investment Advisors
Securities
Creation Date: 9/11/2008 2:13:06 PM
Modification Date: 8/25/2026 11:37:52 AM

Agency Name: Commerce, Minnesota Department of
Agency URL: https://mn.gov/commerce/
Agency Description: The Minnesota Department of Commerce is the chief regulator for the banking, energy, insurance, real estate, securities, telecommunications industries and also operates Minnesota's Unclaimed Property.
Agency Phone: 651-539-1500
Agency Fax: Agency URL: https://mn.gov/commerce/

Agency Address:
85 7th Place East, Suite 500

St. Paul
MN
55101

Division Name: Securities Unit
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Division Phone: Division Fax: Division URL:

Audience: Application URL:
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Requirements:

Minnesota regulates Financial Planners if they provide investment recommendations or other related advisory services for a fee. They need to register as an Investment Adviser and persons providing the advisory services need to qualify as investment adviser representatives. See Minn. Stat. 80A.41(16), Minn. Rule 2876.5204, and Minn. Rule 2876.4120, See Resident Producers or Non-resident Producers.

If Financial Planner is also offering insurance products they must be licensed as an Insurance Agent.

Rules: 2876

Statutes: 80A
82.55

Forms:
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Other Info:
Activity: Financial Counselors/Planners
License Detail URL:

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