SEC site offers adviser info
- By Dan Caterinicchia, Dan Caterinicchia
- Sep 27, 2001
Investors looking for detailed information about money managers, financial
planners and other types of investment advisers now have help from a Web
site launched by the Securities and Exchange Commission and the North American
Securities Administrators Association.
The Investment Adviser Public Disclosure site (www.adviserinfo.sec.gov), which was announced Sept. 26, provides access
to registration documents filed by more than 9,000 registered investment
advisers. The documents, filed electronically with the SEC or state securities
administrators, provide information about each adviser's business, services
SEC Chairman Harvey Pitt said the new site "underscores the SEC's commitment
to full public disclosure by giving investors a valuable new tool to help
them compare the qualifications and services of thousands of investment
The registration documents also disclose any disciplinary problems an
adviser or its employees have had during the past 10 years.
Users can search by a firm's name, identification number or SEC number.
There are currently more than 9,000 investment advisers nationwide that
have filed and are updating their registration documents electronically,
including all 7,300 SEC-registered advisers and more than 1,700 state-registered
advisers. Additional state-registered advisers are joining the system daily.
NASAA president Joseph Borg said the site will help investors "know
who they're dealing with with just a click of a mouse" and will become even
more useful "as more and more state investment advisers come on the system
in the months ahead."