Investment Adviser and an IA Rep (note: most firms are organized as corporations or as limited liability companies).Once entitled to use the IARD system, all Part 2 documents need to be text-searchable PDF files and uploaded to the IARD system. Investment Adviser specifies whether it is registering with the SEC or licensing with the state(s). The Form ADV also requires the Investment Adviser to provide detailed information about the proposed advisory business to both regulators and advisory clients. Part 2 documents are to be written in plain-English narratives and follow detailed instructions as to their content (see Form ADV Part 2 Instructions). Also, the Investment Adviser must file Form ADV through the IARD system. These documents are designed to provide: an idea on the layout and organization of Part 2; sample plain-English descriptions of complicated financial matters; and examples of how to write for advisory clients while answering specific regulatory questions.