1.3.1.1 Investment Adviser Representative Registration
First and foremost, to register as an investment adviser representative, someone would naturally have to have an investment adviser that wants to hire him or her. Being an IAR, by definition, requires someone to be affiliated in some way with an actual registered investment adviser.
When an employment arrangement is agreed upon, the appropriate paperwork must be filed with the state through the federally run Investment Adviser Registration Depository system, or IARD, just as it is for the actual 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 or her. This helps prevent an investment adviser from suddenly finding itself with a bunch of IARs that were not actually hired by the firm.
On behalf of the IAR, the investment adviser must submit a Form U4, which is a generic application for registration. The Form U4 requires an applicant to disclose certain information, including his last ten years of employment history and fiv