When choosing an investment adviser or working with an investment adviser representative, it is important that to research the firm and the individuals that will be investing your money and providing you with financial advice - before you do business with them.
Public information is available on every registered individual and company licensed by the Department of Commerce. This includes licensing information, enforcement actions and other data not protected under Minnesota's Data Privacy laws. Information about cases currently under investigation cannot be revealed.
How to Check the License of an Investment Adviser or Firm Licensed by the Department:
Go to the Investment Adviser Registration Depository (IARD); a computerized database that contains information about most investment advisers, their representatives, and the firms they work for, to check registration. In this database, you can check whether adviser representatives are properly licensed in your state, if they have had disciplinary problems with regulators, or received serious complaints from investors.
Contact the Minnesota Department of Commerce – Securities Unit with further questions: