An investment adviser is a person or firm that provides securities-related advice for compensation. This video breaks down the legal definition, the services advisers typically offer, and the regulatory framework that governs their registration and conduct.

You’ll learn:

• The three-part test used to define an investment adviser

• Key exclusions and exemptions under the Investment Advisers Act

• Common advisory services and compensation structures

• Differences between federal and state registration

• How this definition is tested on licensing exams

📘 Related Exams: SIE + Series 6 / 7 / 63 / 65 / 66
🧠 Skill Level: Beginner
📈 Topics Covered: Investment adviser definition, regulatory framework, fiduciary duty, registration requirements