How do I find out whether an Investment Advisor ever had problems with a government regulator or has a disciplinary history?
Most Investment Advisors must fill out a form called “Form ADV.” They must file their ADVs with either the SEC or the state securities agency in the state where they have their principal place of business, depending on the amount of assets they manage. The ADV consists of two parts. Part I contains information about the adviser’s education, business, and whether they’ve had problems with regulators or clients. Part II outlines the adviser’s services, fees, and strategies. Before you hire someone to be your Investment Advisor, always ask for, and carefully read, both parts of the ADV. If an Investment Advisor won’t give you Part I of the ADV, don’t do business with them. You can get copies of Form ADVs from the Investment Advisor, your state securities regulator, or the SEC, depending on the size of the adviser. You can find out how to get in touch with your state securities regulator through the North American Securities Administrators Association, Inc.’s Web site or by calling (202) 7
Most Investment Advisors must fill out a form called “Form ADV.” They must file their ADVs with either the SEC or the state securities agency in the state where they have their principal place of business, depending on the amount of assets they manage. The ADV consists of two parts. Part I contains information about the adviser’s education, business, and whether they’ve had problems with regulators or clients. Part II outlines the adviser’s services, fees, and strategies. Before you hire someone to be your Investment Advisor, always ask for, and carefully read, both parts of the ADV. If an Investment Advisor won’t give you Part I of the ADV, don’t do business with them. You can get copies of Form ADVs from the Investment Advisor, your state securities regulator, or the SEC, depending on the size of the adviser. You can find out how to get in touch with your state securities regulator through the North American Securities Administrators Association, Inc.’s Web site or by calling (202) 7
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