The role of academic advising in higher education remains largely misunderstood by university stakeholders, faculty and staff, students, and academic advisors. Many hold the simplistic view that academic advising is merely transmitting information to students to ensure timely graduation, a perception that limits what advising can do for student learning, growth, and development. Interviews with NACADA leaders and document analysis reveals a grounded theory of the academic advising process: within the advising context, students connect with caring institutional representatives, make meaning of experiences, and engage in informed decision-making. Synthesizing these experiences helps students develop their academic identity. The theory can aid stakeholders outside of academic advising and give practicing advisors language to explain the valuable work they do with students.