IARs must pass the FINRA Series 65 exam, or the Series 7 exam in conjunction with the Series 66 exam.

FORBES: Differences Between Stockbrokers, Investment Advisors And Financial Planners

Investment advisors are individuals (known as Investment Advisor Representatives, or IARs) or companies that provide advice about securities to clients.

FORBES: Differences Between Stockbrokers, Investment Advisors And Financial Planners

Financial advisors are Registered Investment Advisors (RIAs) or Investment Advisor Representatives (IARs).

FORBES: How To Choose A Financial Advisor