1.  Except as otherwise provided in subsection 2, a financial planner shall maintain insurance covering liability for errors or omissions, or a surety bond to compensate clients for losses actionable pursuant to this chapter, in an amount of $1,000,000 or more.

Terms Used In Nevada Revised Statutes 628A.040

  • Financial planner: means a person who for compensation advises others upon the investment of money or upon provision for income to be needed in the future, or who holds himself or herself out as qualified to perform either of these functions, but does not include:

    (a) An attorney and counselor at law admitted by the Supreme Court of this State;

    (b) A certified public accountant who holds a certificate issued pursuant to NRS 628. See Nevada Revised Statutes 628A.010

2.  The provisions of subsection 1 do not apply to:

(a) A broker-dealer or sales representative licensed pursuant to NRS 90.310 or exempt under NRS 90.320; or

(b) An investment adviser licensed pursuant to NRS 90.330 or exempt under NRS 90.340 or 90.345.

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