Application Fee
See agencyVerified by MN Board of Business
Financial Advisor Licensing in Minnesota
Review current requirements, exam details, renewal cycle, and salary outlook for financial advisor in Minnesota, including See agency and board contact links.
Last verified: Feb 17, 2026
Current
Exam Requirement
State-approved examRenewal Cycle
See board renewal rulesLicensing Blueprint for Financial Advisor in Minnesota
Estimated timeline: Varies by boardCore Requirements
- 1
Education: Varies by state board.
- 2
License Type: Register with licensing agency.
Exam and processing details
- State-approved exam
Application Snapshot
- Licensing Authority
Minnesota Department of Commerce • Licensing Unit
- Current Filing Fee
See agency
- Renewal Cycle
See board renewal rules
- Salary Position
$94,420 median (8% below national)
- State Salary Rank
#27 of 50 states
Step-by-Step Process (4)
- 1. Meet Minnesota eligibility requirements for Financial Advisor licensure.
- 2. Complete required education or training (Education: Varies by state board.).
- 3. Pass required examination steps: State-approved exam.
- 4. Submit the application to Minnesota Department of Commerce~Licensing Unit and monitor board communications.
Salary Insights in Minnesota
With a median salary of $94,420, Financial Advisors in Minnesota earn 8% below the national median of $102,140. Minnesota ranks #27 among 50 states. The typical licensing timeline is Varies by board.
State Hiring Climate (QCEW)
RisingQoQ Employment Change
+3%Average Weekly Wage
$1,407Median annual salary
$94,420Hourly estimate
$45.398% below national median
Difference: -$7,720
Percentile Distribution
Annual compensationFinancial Advisor Salary Ranking
#27 of 50 statesfor Financial Advisor median salary
| Rank | State | Median Salary |
|---|---|---|
| #1 | New York | $167,970 |
| #2 | Idaho | $136,440 |
| #3 | California | $128,650 |
| #4 | Delaware | $128,170 |
| #5 | New Jersey | $123,690 |
Nearby States Comparison
Financial Advisor licensing across the region| State | Median Salary | Education | Exam | Timeline |
|---|---|---|---|---|
| Minnesota | $94,420 | Varies by state board | State-approved exam | Varies by board |
| Wisconsin | $115,680 | Varies by state board | State-approved exam | Varies by board |
| Iowa | $81,790 | Specific course required | Both state and third-party exams required | Varies by board |
| South Dakota | $123,380 | Varies by state board | State-approved exam | Varies by board |
| North Dakota | $98,990 | No educational requirements | Third-party exam required | Varies by board |
License by Endorsement
Transfer requirements are state-specific. Use this quick matrix as a planning signal, then verify final endorsement rules with each board.
| State | Reciprocity Score | Tier | Notes |
|---|---|---|---|
| Minnesota | 78 | High | Board-specific review required. |
| Wisconsin | 78 | High | Board-specific review required. |
| Iowa | 68 | Medium | State-specific exam conditions may apply. |
| South Dakota | 78 | High | Board-specific review required. |
| North Dakota | 68 | Medium | State-specific exam conditions may apply. |
- Reciprocity and transfer rules vary by state board. Verify directly with the agency.
Official Licensing Agency
Official website verified
Minnesota Department of Commerce • Licensing Unit
85 7th Place East, Suite 600, St. Paul, MN, 55101-3165
Phone: 6512966319
Related Careers in Minnesota
| Profession | Median Salary | Education | Timeline |
|---|---|---|---|
| Architect | $95,380 | Varies by state board | Varies by board |
| Audio and Video Technicians | $47,460 | Varies by state board | Varies by board |
| Certified Public Accountant | $81,100 | Varies by state board | Varies by board |
| Civil Engineer | $101,440 | Varies by state board | Varies by board |
FAQ
How long does it take to become a Financial Advisor in Minnesota?
Most applicants finish the licensing path in about Varies by board, but timing can change based on education track, exam scheduling, and board processing.
What is the typical Financial Advisor salary in Minnesota?
The median annual salary for Financial Advisors in Minnesota is $94,420.
How does the Financial Advisor salary in Minnesota compare to the national average?
Financial Advisors in Minnesota earn 8% below the national median of $102,140, with a state median of $94,420.
How many Financial Advisors work in Minnesota?
Minnesota employs approximately 6,360 Financial Advisors according to BLS data.
Can I transfer my Financial Advisor license to Minnesota from another state?
Transfer requirements vary by board. Reciprocity and transfer rules vary by state board. Verify directly with the agency.
Who is the licensing agency for Financial Advisors in Minnesota?
The licensing agency is Minnesota Department of Commerce / Licensing Unit. Review agency details at http://www.commerce.state.mn.us/.
How often do you renew a Financial Advisor license in Minnesota?
Current guidance indicates a renewal cycle of See board renewal rules.