How much does a Financial Counselor or Planner license cost in Minnesota?

The estimated total cost is $500, including application fees, exam fees ($305), and education costs.

How long does it take to get a Financial Counselor or Planner license in Minnesota?

The process typically takes 2-4 months, depending on education completion and exam scheduling.

What exam do I need for a Financial Counselor or Planner license in Minnesota?

You need to pass the Series 65 or Series 7 + Series 66. N/A

Financial Counselor or Planner License in Minnesota

Minnesota requires registration as an Investment Adviser Representative through the Department of Commerce if providing investment advice for a fee. The state broadly regulates anyone using financial planner titles. Must also hold an insurance license if offering insurance products.

Exam: Series 65 or Series 7 + Series 66
Total Cost: $500 (est.)
Timeline: 2-4 months
Renewal: Every Annually (December 31)

Requirements

Financial Counselor or Planner license in Minnesota

gold

Veterans Benefits

N/A - Not displayed

Estimated Costs Est.

Exam Fee: $305
Total Estimated Cost: $500

Licensing Agency

Minnesota Department of Commerce~Licensing Unit

Website 6512966319 Email

Cost Breakdown

Estimated costs for getting your Financial Counselor or Planner license in Minnesota. Values marked "Est." are extracted from official descriptions.

Exam Fee

$305

Total Estimated Cost

$500

Education / School Cost

Enter the cost of your pre-licensing education program

Exam FeeEst.$305

Total Estimated Cost$305

Fees marked "Est." are extracted from official descriptions and may not reflect current pricing. Verify with the Minnesota licensing board.

Financial Counselor or Planner Salary in Minnesota

Entry Level

$44,380

Median

$94,420

Experienced

$239,200

Source: Bureau of Labor Statistics. Salary data is for informational purposes only.

How to Get Licensed

Step-by-step roadmap to becoming a licensed Financial Counselor or Planner in Minnesota.

1

Submit Your Application

File your application with the licensing agency.
2

Receive Your License

Processing typically takes 2-4 months.

Financial Counselor or Planner Licensing in Minnesota: What to Know

Minnesota has one of the most detailed COS entries for financial planners. The state defines 'financial planning' as providing financial planning services or counseling on a group or individual basis. Anyone indicating they are a 'financial planner,' 'financial counselor,' 'financial adviser,' 'investment counselor,' 'estate planner,' 'investment adviser,' or 'financial consultant' is considered to be engaged in the business of financial planning. Minnesota's Department of Commerce regulates financial planners who provide investment recommendations or advisory services for a fee — they must register as an Investment Adviser and qualify as investment adviser representatives under Minn. Stat. 80A.41(16). If also offering insurance products, they must be separately licensed as an Insurance Agent.

Frequently Asked Questions

How much does a Financial Counselor or Planner license cost in Minnesota?: The estimated total cost is $500, including application fees, exam fees ($305), and education costs.
How long does it take to get a Financial Counselor or Planner license in Minnesota?: The process typically takes 2-4 months, depending on education completion and exam scheduling.
What exam do I need for a Financial Counselor or Planner license in Minnesota?: You need to pass the Series 65 or Series 7 + Series 66. N/A