I Am Not an Investment Adviser…For Sure

It’s much harder to define a thing than it is to say “This is not it.” The USA is very clear about what it thinks is not an investment adviser.

• an investment adviser representative
• a lawyer, accountant, engineer, or teacher whose performance of investment advice is solely incidental to the practice of the person's profession
• a broker-dealer or its agents whose performance of investment advice is solely incidental to the conduct of business as a broker-dealer and that does not receive spec...