A Registered Investment Advisor manages assets, makes portfolio composition and individual security selection decisions for a fee, often a percentage of assets invested.
The SEC regulates investment advisors that have over $100 million in assets under management. Investment advisors that do not meet this threshold are generally regulated by the state securities agency in the state where they have their principal place of business. This website provides information about both SEC- and state-registered investment advisor firms.
Investment advisors file Form ADV to register with the SEC or the states. Form ADV contains information about an investment advisor and its business operations.