What Is Investment Adviser?
A person or entity that, for compensation, advises others about the value or advisability of investing in, purchasing, or selling securities. This definition determines regulatory jurisdiction and whether an entity must register under state or federal law.
Investment Adviser across 3 exams
Investment Adviser appears on the following exams. Each defines it in the context candidates are tested on:
- Series 65
- A person or entity that, for compensation, advises others about the value or advisability of investing in, purchasing, or selling securities. This definition determines regulatory jurisdiction and whether an entity must register under state or federal law.
- Series 63
- A person who, for compensation, engages in the business of advising others about the value of securities or the advisability of investing in them, including those who issue analyses or reports for pay.
- Series 66
- A person or firm who receives compensation for advising others about securities investments as part of a regular business. Under the Uniform Securities Act, most investment advisers must register at the state level unless they qualify for federal covered status.