Time needed for ADV 1 & 2

2 replies [Last post]
Cubfan 23's picture
Joined: 2011-03-17

Could I please get a good estimate of the amount of time I'll need to set up ADV 1&2 for new RIA?  I'm not looking for the IARD/Finra answer, but real world experience.  I have a copy of an ADV 2 from a friend's firm to use as a template.  No, I won't be copying it, but it's nice to see what other firms use.Many thanks,Cubfan23

squash2's picture
Joined: 2010-03-09

2 hrs depending on how much you change and edit.. Also depends on if regulator approves it right away 

stockattorney's picture
Joined: 2010-09-09

It also depends on the different services, models and products you'll be offering and the details you state for each.  For my last firm, an RIA with 350MM+ AUM, it took about 3 hours just to update it for the annual filing.

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