Investment Adviser Public Disclosure (IAPD) is the SEC's free search site, at adviserinfo.sec.gov, for investment adviser firms and their representatives, covering SEC-registered firms and most state-registered ones.
For a firm, IAPD shows its registration status and its current Form ADV, including the Part 2 brochure and the Form CRS relationship summary. For a person, it shows their registrations, professional background and conduct, including any disclosures such as customer complaints or regulatory actions.
IAPD and FINRA BrokerCheck link to each other, so you can follow a dually registered advisor from one to the other. The SEC regulates larger advisers and the states regulate most smaller ones, and IAPD covers both.
How to check
Search the person and the firm at adviserinfo.sec.gov by name or CRD number. Read the person's disclosures, then open the firm's Form ADV for its fees (Part 2A, Item 5) and disciplinary history (Part 2A, Item 9).
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