Form ADV
Form ADV is the uniform registration and disclosure form that investment advisers file electronically through the IARD system, with the SEC under the Investment Advisers Act of 1940 or with state securities regulators. Part 1 is structured data on the adviser's business, ownership, clients, regulatory assets under management, private funds (Schedule D) and disciplinary history; Part 2 is the plain-language brochure delivered to clients. An adviser must file an annual updating amendment within 90 days of its fiscal year end, and exempt reporting advisers file only parts of Part 1.
In DFX data
DFX currently tracks 50,634 investment adviser firms, as of 10 October 2026.
The RIA graph reads every Form ADV filing the SEC has published since 2011 and then the monthly roster and daily feeds, so each firm's answers are kept on every filing date rather than overwritten.