What is an investment adviser?
Generally, an investment adviser is a firm, or an individual, that:
*Engages in the business of
*Advising others (either directly or through publications or writings)
*As to the value of securities (e.g., stocks, bonds, mutual funds, exchange-traded funds, etc.), or
*As to the advisability of investing in, purchasing, or selling securities.
An investment adviser can also be a firm or an individual that:
*And as part of a regular business
*Issues or promulgates analyses or reports concerning securities