SEC Investment Advisor

SEC Releases Comprehensive Investment Adviser Statistics Report

May 15, 2024 — The SEC staff has released a new report on Investment Adviser Statistics. This report, based on aggregated data filed by investment advisers on Form ADV, will be updated annually. It provides the public with valuable insights into the investment advisory industry, covering aspects such as business activities, client composition, and the types of funds advised. This data offers a comprehensive view of trends over time.

Detailed Overview of Investment Adviser Statistics

The Investment Adviser Statistics report features over 50 detailed tables of aggregated data. This data is publicly downloaded in a structured format, providing a historical statistical series dating back to 2000. According to the report, as of the end of last December, more than 15,000 registered investment advisers reported approximately $128 trillion in regulatory assets under management.

SEC’s Commitment to Data Transparency

SEC Chair Gary Gensler emphasized the importance of making accessible and usable aggregated data available to the public. “Providing accessible, usable, aggregated data to the public is critical to the SEC’s role,” Gensler stated. “This new report will give the public a clearer view of the investment advisory industry. Such SEC-published data help the public better understand how our economy and securities markets function.”

Insights from Form ADV Data

Tim Husson, head of the Division of Investment Management’s Analytics Office, highlighted the unique insights from Form ADV data. “Form ADV data offers a uniquely comprehensive view of the asset management industry,” Husson said. “The statistics in this report illustrate the phenomenal growth and changing nature of the advisory business and will help inform public policy in this space.”

Enhancing Transparency in Capital Markets

SEC Chief Economist Jessica Wachter noted the report’s role in providing valuable information to the public. “The publication of this data will provide valuable information to the public,” Wachter stated. “The report enhances transparency into an important segment of our capital markets.”

Role of the Division of Investment Management

The Division of Investment Management is primarily responsible for administering the Investment Company Act of 1940 and the Investment Advisers Act of 1940. This includes oversight of investment companies such as mutual funds, money market funds, ETFs, and investment advisers. The Division’s Analytics Office plays a crucial role by offering practical reviews and actionable analyses of the asset management industry to the Division and the SEC.

The full report is available on the SEC’s website for those interested in a deeper dive into the data and trends.

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Sallah Astarita & CoxRepresenting Advisors and Investors, Nationwide.
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Mark Astarita is a nationally recognized securities attorney, who represents investors, financial professionals and firms in securities litigation, arbitration and regulatory matters, including SEC and FINRA investigations and enforcement proceedings.

He is a partner in the national securities law firm Sallah Astarita & Cox, LLC, and the founder of The Securities Law Home Page -, which was one of the first legal topic sites on the Internet. It went online in 1995 and is updated daily with news, commentary and securities law related links.

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