# Form ADV

> Form ADV is the registration filing every investment adviser firm submits to regulators; its Part 2A brochure discloses the firm's fees, services, and conflicts of interest in plain English.

Canonical page: https://find.wellspent.co/glossary/form-adv/
Also called: ADV Part 2A, firm brochure

Part 1 contains structured data such as assets under management, ownership, and how the firm is compensated. Part 2A, the brochure, must be given to clients and explains fees (Item 5), conflicts, and disciplinary history.

Item 5 of Part 1 is where a firm reports whether it is compensated by commissions, which is how Wellspent checks the fee-only basis of a member's firm against SEC data.

## How to check

Download any firm's current Form ADV from the SEC's Investment Adviser Public Disclosure site.

## Sources

- [SEC Investment Adviser Public Disclosure](https://adviserinfo.sec.gov/)

## Related terms

- [Registered investment adviser (RIA)](https://find.wellspent.co/glossary/ria.md)
- [Fee-only financial advisor](https://find.wellspent.co/glossary/fee-only.md)
- [Assets under management (AUM) fee](https://find.wellspent.co/glossary/aum-fee.md)