Series 65: 8.8.3 Registration Of Investment Adviser Representatives

8.8.3  Registration of Investment Adviser Representatives

First and foremost, to register as an investment adviser representative, the candidate would need to have an investment adviser that wants to hire him. Being an IAR, by definition, requires someone to be affiliated in some way with a registered investment adviser.

When an employment arrangement is agreed upon, the appropriate paperwork must be filed with the state through the federally run IARD, just as it is for the investment adviser. The primary difference is that the paperwork, while often completed by the investment adviser representative, is submitted by the investment adviser that will be employing him. This helps prevent an investment adviser from suddenly finding itself with a bunch of IARs that were not actually hired by the firm.

The investment adviser must submit a Form U4, which is a generic application for registration, on behalf of each of its IARs. The applicant must a