An Investment advisory, in financial/investment organizations, is the unit linking the investment professionals in the central asset management unit (Investment Research, Portfolio Management) to the relationship managers and/or to important clients of the asset management organization.
Investment Advisors explain the investment ideas of the experts to their internal or external clientele and propose adequate investment solutions. In turn, they identify needs and wishes of the clients or the Relationship Managers of their organization and transport them to the central (financial/investment) asset management unit.
In the U.S., investment advisors are registered with the SEC.
References
Investment advisory Wikipedia(Text) CC BY-SA