SEC VERIFY DATA
TITLE: What Is IAPD How to Check an Investment Adviser
SEO DESCRIPTION: Learn what the SEC IAPD database is, how to search an investment adviser, what Form ADV information it shows, and what IAPD registration does not prove.
WHAT IS IAPD
IAPD stands for Investment Adviser Public Disclosure. It is a public database that allows investors and researchers to review information about investment advisers and certain adviser representatives.
The database includes information derived from Form ADV filings submitted through the Investment Adviser Registration Depository, or IARD. Users can search SEC-registered investment advisers, state-registered advisers and SEC Exempt Reporting Advisers.
WHAT INFORMATION CAN IAPD SHOW
An IAPD record may provide an adviser's legal name, business address, registration status, regulatory assets under management, ownership information, advisory activities, private fund disclosures and certain disciplinary information.
Users can also access the firm's most recently filed Form ADV. Form ADV may provide additional information about fees, conflicts of interest, business practices, client types and related private funds.
DOES AN IAPD RECORD MEAN SEC APPROVAL
No. Appearing in IAPD does not mean the SEC has approved an investment adviser, verified its investment performance or endorsed any fund or investment product associated with the firm.
Registration and disclosure records are important due-diligence tools, but they should be interpreted according to the exact legal entity and regulatory status shown in the database.
IAPD VS EDGAR
IAPD primarily focuses on investment advisers and Form ADV records. EDGAR is the SEC filing system used for many other securities filings, including Form D.
A private fund may therefore appear in EDGAR under its own CIK while the fund's investment adviser appears separately in IAPD.
HOW FILINGDOSSIER USES IAPD
FilingDossier compares IAPD and Form ADV records with fund websites, Form D filings, manager names, addresses and related entities.
The goal is to determine whether the adviser claimed by a fund can be matched to the appropriate public regulatory record, rather than treating the existence of an IAPD profile as proof that an investment is safe.
DISCLAIMER
FilingDossier is an independent research platform and is not affiliated with or endorsed by the SEC. This material is provided for informational and research purposes only and does not constitute legal or investment advice.