Michigan — Investment Adviser Bond
Michigan's adviser bonding rule considers custody or discretion, client numbers, assets under management and any net-worth deficiency. Obtain the Administrator's required sum before applying. The posted adviser form also requires annual renewal and adjustment on December 31, with new evidence filed with LARA.
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- Recorded state
- Michigan
- Bond type
- Broker-Dealer / Investment Adviser Bond
- Category
- Financial services
What this bond does
The adviser bond secures the registered firm's duties under Michigan's Uniform Securities Act and its accounting for investor money and securities. It names the State of Michigan for interested persons' benefit and identifies the firm in its investment-adviser capacity.
- Who needs it
- An advisory firm addressing Michigan's custody, discretion or related financial-security requirements. Establish the firm's activities, principal state, financial position and any qualified exception before completing the bond.
- Who it protects
- The State obligation benefits interested persons, and people with Securities Act claims can sue the principal or surety. The rule reaches clients regardless of residence. The form preserves liabilities incurred before withdrawal and uses applicable limitation or repose periods rather than supplying a universal claim deadline.
Your bond option
This is the option on record for this bond.
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The bond amount describes the limit of the bond obligation, not the price. A listed amount does not establish what the requesting party requires. The premium is what you pay and must be confirmed for the actual option. An E&O limit, where listed, is separate errors and omissions insurance.
Sources
- Michigan LARA: Investment Adviser Surety Bond (opens in a new tab)Checked October 26, 2026
- Michigan Rule 451.4.14: adviser bonding (opens in a new tab)Checked October 26, 2026
- Michigan Rule 451.4.17: adviser financial requirements (opens in a new tab)Checked October 26, 2026
Have these ready
- Provide the legal adviser name, IARD number and principal state.
- Document custody, discretion, client numbers and assets under management.
- Prepare the applicable net-worth computation and any exception evidence.
- Obtain the Administrator's required sum and annual adjustment directions.
- Complete signatures, typed names, surety seal and new filing evidence.
Questions about this bond
Is the amount simply $35,000 or $10,000?
Those are general net-worth thresholds. Rule 4.14 separately addresses the Administrator's client-and-assets-based sum and a deficiency rounded up to the nearest $5,000. Confirm the applicable required amount instead of copying a capital threshold.
What must happen each December 31?
The posted form requires the bond to be renewed and adjusted annually, with new evidence filed with the Department. Keep the amount review and filing step together; do not assume the original purchase completes future annual requirements.
What follows Purchase Now?
Propeller's Michigan investment-adviser application opens in a new tab. Match the firm, IARD number, State obligation, required sum and dates. Review and sign the adviser undertaking, complete the surety entries and seal, then email the completed bond as its filing directions specify. Payment does not complete registration.