Public Information on RIAs

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P-Tone's picture
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Joined: 2010-03-31

I have been studying the RIA space and have been reviewing publicly available financial statements for RIAs through the SEC. However they do not list all of the financials for the RIAs in my area, is there any other resource I can use to compile the financial statements of RIAs. Thanks

Wet_Blanket's picture
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Joined: 2008-11-13

WTF are you talking about?

B24's picture
B24
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Joined: 2008-07-08

P-Tone, what gave you the impression that RIA's had to disclose their financial statements?  Beyond their required SEC/State filings (which really only gives you information on their operations), there is no legal requirement to disclose their financial statements.  This is assuming they are not public companies, most of which are not.Not sure what you are looking for, but I don't think you're going to find it.  Is this for some sort of school project?

Wet_Blanket's picture
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Joined: 2008-11-13

P-Tone, don't listen to the peanut gallery here.  I repeat, WTF are you talking about?As far as RIA's being required to disclose finances - it is true (contrary to what B24 says).If the RIA bills cleints more than $500, and 6 months in advance, then they have to attached a Schedule G to their ADV Part II. ZING!

B24's picture
B24
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Joined: 2008-07-08

Wet_Blanket wrote:P-Tone, don't listen to the peanut gallery here.  I repeat, WTF are you talking about?As far as RIA's being required to disclose finances - it is true (contrary to what B24 says).If the RIA bills cleints more than $500, and 6 months in advance, then they have to attached a Schedule G to their ADV Part II. ZING!WB,How many RIA's bill more than 6 months in advance?  Seriously.  5%?  Less? 

Wet_Blanket's picture
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Joined: 2008-11-13

Doesn't mean it isn't a regulatory requirement.And that my friend it was seperates the experts from the novices. 

B24's picture
B24
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Joined: 2008-07-08

WB, I knew about the requirement, but it does not get to the spirit of his question.  RIA's, generally speaking, are not required to disclose their financial statements to the public.  Yes, there is a VERY small minority that are required to file Schedule G..  And FWIW, it's only the balance sheet that's required.  That does not constitute all of their financial STatements.Play with the bull, you'll get the horns Compliance-Boy.

Wet_Blanket's picture
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Joined: 2008-11-13

Hah, reading your first post, I didn't get that impression.I think we both can agree that we don't know WTF the OP is talking about.Who the hell wants financial statements?

B24's picture
B24
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Joined: 2008-07-08

I think I know what he's talking about, but I don't know why he would want them.  And since virtually no RIA's bill 6 months in advance (and the disclosure of financials is minimal), I didn't even consider that to be what he was looking for.  Since I went to school for Accounting a million years ago and that was my career for over a decade, it just sounded to me like he was working on a school project.  I vaguely remember doing somthing like that as a project in college.  I actually ended up going to work for the company that I did the financial case study on.

Wet_Blanket's picture
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Joined: 2008-11-13

I wonder if he is confusing ADV Part I with "financial statements."

B24's picture
B24
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Joined: 2008-07-08

Entirely possible, and more likely.  Pretty simple solution of that's the case.However, when he says they "do not list the financial for ALL the RIA's in my area", it makes me wonder if he is also trying to look up indy firms (associated w/BD's) thinking that they are RIA's.  In his defense, it is not always clear from someone's website whether they are an RIA, an indy BD, or both.  Because if they are an RIA, regardless of whether they register w/state or SEC, the SEC has ALL RIA ADV's on their site.  So if he can't find some, then he's missing something.

yield spread's picture
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Joined: 2009-11-23

I would like to see more zingers and some less actual helpful advice when some piker ask a dumbass question. 

B24's picture
B24
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Joined: 2008-07-08

OK.The OP is dumber than a 10 cent can of tuna.

yield spread's picture
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Joined: 2009-11-23

B24 wrote:OK.The OP is dumber than a 10 cent can of tuna.Now that's more like it.  I just posted my Income Statement, Cash flow Statement and Balance Sheet on the internet incase he wants to search my area.  Hopefully he will ignore my recent purchase from 'thongs and dongs', I swear it's a business expense.

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