SEC Form ADV Adviser Change Watch

Monitor official SEC adviser reports and receive structured changes for RIAs and exempt reporting advisers.

This actor converts the monthly SEC Investment Adviser Information Reports into an auditable recurring delta feed. The first run seeds a private baseline and emits no alerts. Later scheduled runs return new and removed advisers, RIA/ERA registration-class changes, AUM-band filter crossings, and selected profile changes — each with the official source URL, report edition, archive checksum, IAPD firm link, before/after profiles, and reconciled receipts.

The reports derive from Form ADV, contain a subset of Form ADV data, and are not guaranteed by the SEC for filer accuracy.

Sources

• Manifest: https://www.sec.gov/data-research/sec-markets-data/information-about-registered-investment-advisers-exempt-reporting-advisers (public, logged out).
• RIA and ERA monthly report archives are discovered from the manifest's same-origin Data-Downloads links and validated against the published path contract — never constructed from user input.
• The actor emits (never fetches) the IAPD firm summary link https://adviserinfo.sec.gov/firm/summary/{crd}.

Identified, moderate automation only: descriptive User-Agent, one request per second, concurrency 1, bounded retries with backoff.

Unit nouns (Pay-Per-Event)

• watch_check — fires once per run after the selected sources terminate and at least one validates (seed and genuine-zero runs included).
• adviser_delta — fires once per successfully pushed unique change, deduplicated by change_id.

Receipts (source_receipt) are always pushed and never billed. Amounts are configured at publish time.

Change types

added_to_scope, removed_from_scope, registration_class_changed, profile_changed, entered_filter, exited_filter. Precedence: class change, then add/remove, then filter crossing, then profile change. One delta per adviser per edition.

Honest limits

Monthly, not real-time. Removal means absence from the report, not firm closure or withdrawal. Fields and countries may be incomplete. No brochures, Form CRS, IAPD scraping, EDGAR, state sites, or personal contacts. Public logged-out data only; stops on objection. Not investment, legal, or compliance advice. Schedule weekly or monthly after the seed run; there is no always-on process.