Minnesota

Broker-dealer firm disciplinary records from FINRA BrokerCheck

Data updated July 2026

Minnesota at a glance

As of July 2026, Minnesota registers 42 broker-dealer firms on FINRA BrokerCheck - 18 carry a clean record and 551 disclosures are on file statewide.

42
registered firms: 18
with a clean record (Grade A): 551
total disclosures statewide: 13.1
disclosures per firm (avg)

Registered Firms

Clean Record (Grade A)

551

Total Disclosures

13.1

Avg Disclosures / Firm

How Minnesota ranks

A state's raw firm count and its disciplinary clean-record rate measure two different things, and they do not always move together. A jurisdiction can host a large number of broker-dealer firms simply because it is a major financial hub, while a smaller state with far fewer registered firms can post a cleaner disciplinary record in relative terms, or vice versa. Comparing both rankings side by side, rather than looking at either figure in isolation, gives a fuller picture of what is actually happening on the ground in a given state.

By firm count, Minnesota is #15 of 56 states and territories. By clean-record rate (Grade A share, among the 33 states with at least 10 registered firms, a floor that keeps a state with only a handful of firms from swinging to an extreme rate on a tiny sample), it ranks #29 of 33. These ranks diverge notably -- a larger firm footprint here does not translate into a proportionally cleaner record. Neither ranking implies wrongdoing on its own; always review an individual firm's own size-normalized grade before drawing a conclusion about it specifically.

Grade Distribution

How Minnesota's 42 graded broker-dealers split across the size-normalized A-F safety scale.

Grade breakdown of 42 graded firms headquartered in Minnesota

Firms by Disclosure Count

#	Firm	Disclosures	Offices	Grade
1	Piper Sandler & Co. Minneapolis	192	80	D
2	Ameriprise Financial Services, LLC Minneapolis	184	15,626	B
3	Colliers Securities LLC Minneapolis	35	17	B
4	U.S. Bancorp Investments, Inc. Saint Paul	29	54	C
5	Walleye Trading LLC Wayzata	14	7	B
6	Feltl & Company Plymouth	13	3	C
7	Securian Financial Services, Inc. St. Paul	13	2	F
8	American Enterprise Investment Services Inc. Minneapolis	10	11	C
9	THE OAK Ridge Financial Services Group, Inc. Golden Valley	10	11	B
10	Thrivent Investment Management Inc. Minneapolis	8	3,069	B
11	VAN Clemens & Co. Incorporated Minneapolis	8	10	B
12	Northland Securities, Inc. Minneapolis	7	17	C
13	U.S. Bancorp Advisors, LLC St. Paul	5	1,934	B
14	AEI Securities, Inc. St. Paul	4	2	B
15	Craig-Hallum Capital Group LLC Minneapolis	4	6	B
16	Dorn & Co., Inc. Fergus Falls	3	4	B
17	Riversource Distributors, Inc. Minneapolis	3	11	C
18	Aegis Investments, Inc. St Louis Park	2	2	B
19	Polar Investment Counsel, Inc. Thief River Falls	2	2	B
20	Aethlon Capital, L.L.C Minneapolis	1	2	B
21	Allianz Life Financial Services, LLC Minneapolis	1	2	C
22	Cedar Point Capital, LLC Edina	1	2	B
23	Gradient Securities, LLC Arden Hills	1	76	B
24	SIA Securities Corporation Minneapolis	1	2	B
25	Advanced Advisor Group, LLC Cambridge	0	30	A
26	CCS Transactions, LLC Minneapolis	0	5	A
27	Cherry Tree & Associates, LLC Minnetonka	0	2	A
28	Finance of America Securities LLC Saint Paul	0	2	A
29	Hennepin Partners LLC Minneapolis	0	2	A
30	Kingfisher Securities, LLC Minneapolis	0	3	A
31	Lagoon Advisory Partners, LLC Eden Prairie	0	3	A
32	Lake Street Capital Markets, LLC Minneapolis	0	3	A
33	Locorr Distributors, LLC Excelsior	0	2	A
34	Martinson & Company, Ltd. Wayzata	0	2	A
35	Northborne Securities Partners LLC Minneapolis	0	3	A
36	Ocean Park Securities, LLC Edina	0	2	A
37	Silicon Prairie Capital Partners, LLC St. Paul	0	2	A
38	T. E. Laird Securities, LLC St. Paul	0	1	A
39	THE M & a Group LLC Stillwater	0	3	A
40	Thrivent Distributors, LLC Minneapolis	0	2	A
41	Tripletree, LLC Bloomington	0	4	A
42	Wealth Enhancement Brokerage Services, LLC Plymouth	0	147	A

Inside Minnesota's Broker-Dealer Landscape

Minnesota has 42 actively registered broker-dealer firms in FINRA's public register, of which 18 (42.9%) carry a clean Grade-A record with no reportable BrokerCheck disclosures.

The state's aggregate disciplinary footprint totals 551 disclosures on BrokerCheck, averaging 13.1 per firm. Grade distribution across Minnesota's broker-dealers: 18 graded A, 16 graded B, 6 graded C, 1 graded D, and 1 graded F. That means 42.9% of graded firms hold an A and 4.8% fall into the D or F bands.

Grades reflect our internal model weighing disclosure volume against firm size and scope; they are editorial signals, not FINRA ratings. Disclosure totals on BrokerCheck represent reported events, not proven violations, large multistate firms headquartered in Minnesota will naturally carry more disclosures than small single-office firms. This page is informational only and is not financial, legal, or investment advice. Before hiring any Minnesota advisor, confirm the firm's current record at FINRA BrokerCheck and review the specific representative's individual CRD report.

Frequently asked questions

How many broker-dealer firms are registered in Minnesota?

Minnesota has 42 actively registered broker-dealer firms on FINRA BrokerCheck, of which 18 (42.9%) hold a clean Grade-A record with no reportable disclosures.

Which Minnesota broker-dealer has the most FINRA disclosures?

Among firms registered in Minnesota, Piper Sandler & Co. carries the most reported BrokerCheck disclosures (192 across 80 branch offices). Disclosure totals reflect reported events, not proven violations, larger firms naturally carry more. Always review the specific records on FINRA BrokerCheck.

How are PlainAdvisorCheck safety grades calculated?

Grades are size-normalized: a firm's weighted disclosure load is divided by its branch-office footprint, then ranked within its size class. Firms with zero disclosures earn an A regardless of size. Grades are editorial signals, not FINRA ratings. See our methodology for the exact formula.

Is this official Minnesota broker data?

Yes. All firm records come from FINRA BrokerCheck and the SEC Investment Adviser Public Disclosure (IAPD) - the official public registries for U.S. broker-dealers. PlainAdvisorCheck aggregates and size-normalizes them; the underlying records are public domain.

All Minnesota Firms → All States →

Read our methodology - how this data is sourced, computed, and verified.

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Data sourced from official FINRA BrokerCheck and SEC EDGAR enforcement records. See our methodology for details. Retrieved and formatted by PlainAdvisorCheck Editorial

Compiled by PlainAdvisorCheck Editorial, Financial Advisor Discipline Editorial Team

Every figure on PlainAdvisorCheck is rendered directly from FINRA BrokerCheck and SEC IAPD disciplinary records, no number is typed in by an editor. This page draws directly on SEC/FINRA regulatory filing data, no figure is typed in by an editor. See our editorial standards & corrections policy, the methodology behind these numbers, or report a data error.