In Minnesota, financial advisory professionals must be properly registered and provide a Minnesota investment adviser bond. Minnesota defines an “investment advisor” just as the Federal Advisers act does, as a any person or firm that: (1) for compensation; (2) is engaged in the business of; (3) providing advice, making recommendations, issuing reports, or furnishing analyses on securities, either directly or through publications. The Minnesota investment adviser surety bond must be written in the amount of $25,000 unless the adviser has no custody of or discretionary authority over client assets and has $100,000 in net capital. The bond guarantees that the adviser will comply with the provisions of the Minnesota Securities Act, and shall pay all damages suffered by any person by reason of the violation of any of the provisions of the Act. Surety One, Inc., is the best resource for the bonding needs of the financial sector. We will issue these bonds for ALL qualified and experienced applicants regardless of temporary fluctuations in financial statements or credit condition. We also offer superlative broker dealer fidelity bond coverages to protect against losses due to employee dishonesty. Visit the nation’s surety leader at SuretyOne.com, call (787) 333-0222 or (800) 373-2804, or email Underwriting@SuretyOne.com for a Minnesota investment adviser bond application or information about any broker dealer or investment adviser need in any state where you may require one.
