"How many Registered Investment Advisors are in each of the 50 states?
How many national or regional Registered Investment Advisors arethere?
I need the answers for states to be consistently dated (don'twant
California as of 12/2001 and Maine as of 12/2000) and wouldprefer the
most current date possible."
Answer:
As of Nov. 15, 2002, there were 7,724 advisers registered with the
SEC. Their names and addresses are available in a text file at you can
download at http://www.sec.gov/foia/docs/invafoia.htm.
There are some industry groups that register their members, but as far
as I can tell there are no federally mandated regional registrations.
However, every state has a roster of registered investment advisers.
Of those 7,724, 7,430 are U.S. firms. Here are the state breakdowns,
including the District of Columbia:
AK 6
AL 41
AR 22
AZ 80
CA 1114
CO 193
CT 279
DC 44
DE 72
FL 290
GA 174
HI 17
IA 38
ID 9
IL 396
IN 82
KS 51
KY 29
LA 44
MA 410
MD 178
ME 17
MI 147
MN 183
MO 125
MS 19
MT 12
NC 103
ND 6
NE 39
NH 42
NJ 242
NM 11
NV 26
NY 1090
OH 261
OK 33
OR 76
PA 371
RI 29
SC 39
SD 2
TN 97
TX 351
UT 30
VA 186
VT 21
WA 149
WI 119
WV 10
WY 25
Ever since the Investmet Advisers Supervision Coordination Act was
passed in 1996, the only advisers who must register at the federal
level are those with $25 million or more under management (
http://www.sia.com/1997_comment_letters/html/sec97-18.html ).
For more information about registered investment advisers, check out
this SEC site (http://www.adviserinfo.sec.gov/IAPD/Content/Search/iapd_OrgSearchInit.asp
) that allows visitors to get information about SEC-registered
advisers, including data about their business and fees, and whether
they have been disciplined. |
Request for Answer Clarification by
savvycarol-ga
on
23 Nov 2002 11:53 PST
Because your answer is limited to RIAs with more than $25 million
dollars in assets it does not really meet my needs. I believe many
states require all their RIAs to register (as opposed to the federal
government which only registers the larger RIAs). I need an answer
that includes much smaller RIAs and would like you to retrieve
state-by-state data that includes those.
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Clarification of Answer by
vercingatorix-ga
on
23 Nov 2002 14:31 PST
"Because your answer is limited to RIAs with more than $25 million
dollars in assets it does not really meet my needs. I believe many
states require all their RIAs to register (as opposed to the federal
government which only registers the larger RIAs). I need an answer
that includes much smaller RIAs and would like you to retrieve
state-by-state data that includes those."
I’m sorry to hear that my answer didn’t satisfy you. You’re right that
most states maintain a list of registered investment advisers.
However, I don’t know of any single location that collates all that
data. The only way I know to obtain the information you desire is
visiting each state’s Web site to get it. A fairly simple, but long
and tedious process.
I didn’t realize you were looking for registrations with the states,
rather than a state breakdown of federally registered RIAs. I wouldn't
mind doing the research but, I'm afraid it would take far to long for
the price you offer. Go ahead and reject my answer. Perhaps another
researcher knows of a site that collects that data.
V
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Request for Answer Clarification by
savvycarol-ga
on
25 Nov 2002 07:34 PST
Thank you very kindly. Would you mind telling me what you would
consider a fair price for gathering the state info? I may be willing
to pay more depending on what you're asking.
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Clarification of Answer by
vercingatorix-ga
on
25 Nov 2002 13:53 PST
To tell you the truth, I really don't know how long it would take to
gather that data. I suspect we're talking about a number of hours. I'd
probably charge $100 to do it, and I expect that's more than you're
willing to pay. I also suspect that there's no way to get the data at
a consistent date, if only because each state will record the data
when it feels like it. This is not the kind of statistic for which
historical numbers are likely to be available. On the other hand, none
of the data will be older than 12/2001.
Sorry if this is getting complicated.
V
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Request for Answer Clarification by
savvycarol-ga
on
27 Nov 2002 14:36 PST
I would be willing to pay $100 if we can get a sufficient amount of
state data. I believe there are some states that do not provide any
data like this and would like to know which states you will be able to
get data for. If we get all the ones with major cities and a good
sampling of the rest than the info would be worth $100. Can we do an
interim $10 job to determine what kind of state data is available so I
can determine whether $100 would be worth it for the full job? If
that's ok with you, I imagine I'll need to create another answer
request and I'm not sure how to ensure you get the job, or even if
that's necessary. Any tips on that step would be appreciated. The
problem with inconsistent dates is minor, especially since, as you
say, all the data is likely to be from 12/01 or later.
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Clarification of Answer by
vercingatorix-ga
on
27 Nov 2002 16:23 PST
Your proposal sounds good to me.
I know some states don't provide that information. Illinois does not.
Indiana does. So does Connecticut. Of course, I can't promise you I'll
get all the states, because I won't. But I can promise you I'll get a
bunch of them, and provide links so you can verify the data.
If you want me to do the research, don't post another question. I'll
just do the job, and you tip me $100. Deal?
V
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