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Advising representatives provide advice on securities and investment products and manage investment funds. They manage client investment portfolios by making decisions about and trading securities on behalf of clients.
Alberta Securities Commission (ASC)
Suite 600
250 - 5th Street SW
Calgary, Alberta T2P 0R4
Canada
Call: 403-297-6454
Toll-free: 1-877-355-0585
Fax: 403-297-6156
Website: www.asc.ca
Canadian Investment Regulatory Organization (CIRO)
Suite 2200, Bow Valley Square 2
205 - 5th Avenue SW
Calgary, Alberta T2P 2V7
Canada
Call: 403-262-6393
Website: www.ciro.ca
Under Alberta’s Securities Act [pdf], you must be registered with the Alberta Securities Commission (ASC) or an ASC-delegated organization to deal in and advise on securities, and to manage investment funds and portfolios.
You must also be employed by a registered firm.
In Alberta, types of advising representatives include:
Advising representatives
Associate advising representatives
Registered representatives who are authorized to give portfolio management advice on behalf of firms that are registered with the ASC-delegated Canadian Investment Regulatory Organization (CIRO) as investment dealers
Advising representatives (ARs) work for firms registered in the portfolio manager category. They manage investment funds and investment portfolios. They make decisions on investments for clients based on their own judgement. They also advise on individual securities. To register as an AR, you need to successfully complete 1 of the following:
The Chartered Financial Analyst (CFA) designation and 1 year of relevant investment management experience (RIME) within the last 3 years before applying for registration
The Chartered Investment Manager (CIM) designation and 4 years of RIME, with 1 year of RIME gained within the last 3 years before applying for registration
Associate advising representatives (AARs) perform similar functions to ARs but require supervision by an AR to perform certain functions. To register as an AAR, you need to successfully complete 1 of the following:
ARs and AARs must register directly with the ASC.
Registered representatives who are authorized to give portfolio management advice on behalf of firms that are registered with CIRO as investment dealers include:
Portfolio managers with educational and experience requirements similar to ARs
Associate portfolio managers with educational and experience requirements similar to AARs
To register, you must successfully complete 1 or more CIRO proficiency exams and other requirements.
Registered representatives working for investment dealer firms must register with the ASC-delegated CIRO.
For details about all registration requirements, contact the ASC or CIRO, or visit their websites.
Advising representatives who are registered by and in good standing with a securities regulatory body elsewhere in Canada may be eligible for registration in Alberta.
For more information, see What if I am already certified in another province or territory in Canada? and the ASC or CIRO websites.
The certification information in this profile may change at any time and without notice. Before making any career decisions, we advise you to contact the regulatory organization or visit their website for the most updated information.
