AdvisorCheck Monitoring tools provide transparency by drawing from publicly available regulatory data under FINRA Rule 8312 and the SEC’s public access and disclosure rules.
FINRA Rule 8312 governs the release of information through FINRA BrokerCheck
, detailing what data FINRA may make public about brokers, broker-dealers, and certain associated individuals.
SEC public access obligations offer similar visibility into the background and regulatory history of Registered Investment Advisers (RIAs), primarily through the Investment Adviser Public Disclosure (IAPD) system and published enforcement data.
The information shown in the application is based on publicly available regulatory data retrieved from:
FINRA BrokerCheck (BrokerCheck - Find a broker, investment or financial advisor )
SEC Investment Adviser Public Disclosure (IAPD)(IAPD - Investment Adviser Public Disclosure - Homepage )
AdvisorCheck is not affiliated with or endorsed by FINRA or the SEC. Users should verify any regulatory data by consulting the original sources directly. Use of BrokerCheck data complies with FINRA’s Terms of Use.
Our monitoring tools do not modify the underlying regulatory data. It is intended solely to enhance investor awareness and support due diligence. For data concerns or discrepancies, please contact us at support@advisorcheck.com or reach out to FINRA or the SEC directly.
AdvisorCheck Essentials (which includes Advisor Monitoring): These updates may include changes to a financial professional’s registration status, employer firm, office location, or disclosure history. Data is reviewed and alerts are sent on a monthly basis.
Learn more about Advisor Monitoring
AdvisorCheck Premium (includes Advanced Monitoring, an expansion of our monitoring tool): This tool includes advisor updates plus firm-level monitoring of data changes from:
Registered Investment Advisers (RIAs) and Exempt Reporting Advisers (ERAs) via Form ADV, a form that advisers must file to register or report with the SEC or state securities authorities.
Broker-dealer firms. They are not required to submit a Form ADV; however, they provide similar information through FINRA BrokerCheck.
Updates may include changes to firm assets under management (AUM), average account values, headcount and retention, client growth, client per investment advisory personnel, and disclosure history. Data is reviewed and updates are sent on a biweekly basis.
Learn more about Advanced Monitoring metrics and insights
Registered Investment Advisors (RIAs):
Annual Updating Amendment: RIAs must update their Form ADV each year within 90 days after the end of their fiscal year.
Prompt Amendments: If there are material changes (e.g., firm ownership, business activities, disciplinary events), RIA firms must file an updated Form ADV typically within 30 days of the change.
Broker-dealers:
Annual Updates: Broker-dealer firms provide annual financial updates within 60 days after fiscal year-end
Operational Data: such as changes to the number of offices and employees are provided on a monthly or quarterly basis
Prompt Updates: For firm disclosures, updates are required within 30 days of the event, and filings of changes to ownership, business type, office locations, control persons, and securities activities are required as they occur.
Several types of financial advisory firms and professionals are not required to submit and file a Form ADV to register or report with the SEC or state securities authorities. These exemptions are based on the nature of their advisory activities, client base, or regulatory status.
