investment advisory representatives iars are licensed professionals who work for investment advisory companies and provide personalized investment advice and financial planning services to individuals and businesses they play a crucial role in helping clients navigate the complex world of investing 
to become an iar candidates must pass licensing exams these tests cover many topics including investment strategies risk management and ethical practices once licensed iars must register with the u s securities and exchange commission sec or state securities regulators below we guide you through the regulations and other duties that apply to these professionals understanding investment advisory representatives iars iars are individuals employed by or associated with an ria firm they advise clients on securities manage client accounts or portfolios determine which recommendations or advice should be given receive compensation or supervise employees who perform these duties iars serve as the face of investment advisory firms working directly with clients as financial advisers and planners and using their expertise to help guide client portfolios here are some of their key responsibilities often confused online the registered investment advisor ria is the firm and the iar is the individual who represents the firm with clients and the public there is only one case where the two might be used interchangeably when an ria employs one person an ria ria vs iarcontrary to what many people think a registered investment advisor ria isn t a person or profession an ria is a firm registered with the sec or state securities administrators to provide advisory services to clients the individuals who execute this service for this firm the ria are the iars as we see below the number of iars has more than doubled since 2000 iar requirementsto ensure that iars maintain the integrity of the industry and avoid significant fines they must meet these key requirements iar qualificationsto expand their knowledge of financial products and principles and for career advancement many iars work to attain either the certified financial planner or chartered financial analyst designation these are not required to be an iar but provide more evidence of an iar s expertise iars in most states are typically required to pass the series 63 and or series 65 exams the finra administered exam consists of 130 scored questions which candidates have 180 minutes to complete as an alternative to passing the series 65 exam iars may pass the series 66 and series 7 exams some states allow for the substitution of licensing credentials for example an individual may not have to pass the series 65 exam if they hold a cfp designation iars may also have continuing education requirements depending on their jurisdiction 