What changed in 2026-07
Comparing the SEC's 2026-06-01 and 2026-07-01 Form ADV snapshots.
Newly registered
137
Deregistered
78
Newly disclosed
31
Major asset moves
40
Firms newly reporting a disclosure
These firms answered Yes this month to an Item 11 question they answered No to the month before. That can reflect a new event, or an amended filing of an older one.
A Better Way Financial, LLC · Allentown, PA
- Any disclosure event involving the firm or its supervised persons
- Another regulator found a violation of investment-related regulations or statutes
Aperture Advisors LLC
- Currently subject to a regulatory proceeding that could result in a disclosure under 11.C., 11.D., or 11.E.
Baird Capital Management Company, LLC · Milwaukee, WI
- Another regulator found a violation of investment-related regulations or statutes
Baird Principal Group Management Company I, LLC · Milwaukee, WI
- Another regulator found a violation of investment-related regulations or statutes
Baird Principal Group Management Company Ii, LLC · Milwaukee, WI
- Another regulator found a violation of investment-related regulations or statutes
Baird Principal Group Management Company, LLC · Milwaukee, WI
- Another regulator found a violation of investment-related regulations or statutes
Baird Venture Partners Management Company Iii, LLC · Milwaukee, WI
- Another regulator found a violation of investment-related regulations or statutes
Baird Venture Partners Management Company Iv, LLC · Milwaukee, WI
- Another regulator found a violation of investment-related regulations or statutes
Baird Venture Partners Management Company V, LLC · Milwaukee, WI
- Another regulator found a violation of investment-related regulations or statutes
Consilium Investment Management LLC · Fort Lauderdale, FL
- Any disclosure event involving the firm or its supervised persons
Dragon Capital Management (Hk) Limited · Central
- Another regulator found a false statement, omission, or dishonest, unfair, or unethical conduct
- Another regulator found a violation of investment-related regulations or statutes
- Another regulator entered an order in connection with investment-related activity (past 10 years)
First Global · North Harrow, Middx
- Another regulator found a violation of investment-related regulations or statutes
- Another regulator entered an order in connection with investment-related activity (past 10 years)
Foundations Investment Advisors LLC · Phoenix, AZ
- SEC or CFTC found a violation of its regulations or statutes
- SEC or CFTC entered an order in connection with investment-related activity
- SEC or CFTC imposed a civil money penalty or a cease-and-desist order
Hilltop Wealth Advisors, LLC · Chapel Hill, NC
- A court found involvement in a violation of investment-related statutes or regulations
Horizon Technology Finance · Farmington, CT
- Any disclosure event involving the firm or its supervised persons
- Convicted of or pled guilty/no contest to a felony (past 10 years)
- Charged with a felony (past 10 years)
Integrated Investment Strategies,inc. · Carmel, IN
- Any disclosure event involving the firm or its supervised persons
- Another regulator found a violation of investment-related regulations or statutes
- Another regulator entered an order in connection with investment-related activity (past 10 years)
Kestra Advisory Services, LLC · Austin, TX
- Charged with a felony (past 10 years)
Key Investment Services LLC · Brooklyn, OH
- Another regulator found a violation of investment-related regulations or statutes
- Another regulator entered an order in connection with investment-related activity (past 10 years)
- Currently subject to a regulatory proceeding that could result in a disclosure under 11.C., 11.D., or 11.E.
Maceratio LLC · Miami, FL
- A self-regulatory organization expelled, suspended, barred, or restricted the firm
Naples Private Capital, LLC · Mooresville, NC
- Any disclosure event involving the firm or its supervised persons
- Another regulator found a violation of investment-related regulations or statutes
Ns Management Ltd · Devonshire, Devonshire
- Currently subject to a civil proceeding that could result in a disclosure under 11.H.(1)
Overwatch Capital Advisors LLC · New York, NY
- Any disclosure event involving the firm or its supervised persons
- Another regulator entered an order in connection with investment-related activity (past 10 years)
- Another regulator denied, suspended, or revoked a registration or restricted activity
- A self-regulatory organization found a violation of its rules
Pacific Financial Advisors · Bellevue, WA
- Another regulator found a false statement, omission, or dishonest, unfair, or unethical conduct
- Another regulator found a violation of investment-related regulations or statutes
Pfs Signature Wealth · Tampa, FL
- Another regulator found a violation of investment-related regulations or statutes
- Another regulator entered an order in connection with investment-related activity (past 10 years)
Richard Bernstein Advisors LLC · New York, NY
- Any disclosure event involving the firm or its supervised persons
Safe Harbor Retirement Planners
- Any disclosure event involving the firm or its supervised persons
- Another regulator found a false statement, omission, or dishonest, unfair, or unethical conduct
- Another regulator found a violation of investment-related regulations or statutes
- Another regulator entered an order in connection with investment-related activity (past 10 years)
South Texas Capital Advisors, LLC · New Braunfels, TX
- Any disclosure event involving the firm or its supervised persons
- A self-regulatory organization found a violation of its rules
- A self-regulatory organization expelled, suspended, barred, or restricted the firm
Supreme Alliance LLC
- Another regulator found a violation of investment-related regulations or statutes
Tradeup Wealth Management, Inc. · New York, NY
- Another regulator found a violation of investment-related regulations or statutes
- Currently subject to a civil proceeding that could result in a disclosure under 11.H.(1)
Ulland Investment Advisors, LLC · Minneapolis, MN
- Another regulator entered an order in connection with investment-related activity (past 10 years)
Vista Point Asset Management LLC · Irvine, CA
- Another regulator found a violation of investment-related regulations or statutes
- Another regulator entered an order in connection with investment-related activity (past 10 years)
- Currently subject to a regulatory proceeding that could result in a disclosure under 11.C., 11.D., or 11.E.
- A court enjoined the firm in connection with investment-related activity (past 10 years)
Largest reported changes in regulatory assets
These are changes in what firms reported. A large move can reflect client flows, market moves, a restatement, or a reclassification between discretionary and non-discretionary assets. Do not read them as investor behaviour.
| Firm | State | Previous | Current | Change |
|---|---|---|---|---|
| Taula Capital Management (Uk) LLP | $204.76 billion | $273.22 billion | +33% | |
| Sbi Funds Management Limited | $174.93 billion | $219.93 billion | +26% | |
| Fundsmith Investment Services Limited | $40.03 billion | $24.58 billion | -39% | |
| Polar Capital | $29.11 billion | $43.26 billion | +49% | |
| Fundsmith, LLP | $30.59 billion | $18.51 billion | -40% | |
| Arax Advisory Partners | NY | $11.30 billion | $23.18 billion | +105% |
| Stepstone Group Europe Alternative Investments Limited | $36.68 billion | $47.29 billion | +29% | |
| Macquarie Infrastructure Partners | NY | $38.69 billion | $48.84 billion | +26% |
| Stepstone Private Wealth | NC | $8.17 billion | $17.93 billion | +119% |
| Macquarie Investment Management Europe Limited | $15.72 billion | $24.51 billion | +56% | |
| Stepstone Group Real Assets LP | CA | $33.10 billion | $41.48 billion | +25% |
| Tetragon Partners L.P. | NY | $12.89 billion | $6.40 billion | -50% |
| Hollyport Capital LLP | $5.86 billion | $12.20 billion | +108% | |
| One Queen Capital Inc. | $9.86 billion | $15.90 billion | +61% | |
| Pershing Square Capital Management, L.P. | NY | $19.77 billion | $25.06 billion | +27% |
| Daiwa Asset Management (America) Ltd | NY | $1.72 billion | $5.96 billion | +246% |
| Amova Asset Management Asia Limited | $10.81 billion | $14.23 billion | +32% | |
| Cercano Management LLC | WA | $10.63 billion | $7.28 billion | -31% |
| Stepstone Group Private Debt LLC | CA | $3.25 billion | $5.79 billion | +78% |
| Cqs (US), LLC | NY | $2.96 billion | $5.49 billion | +85% |
| Vise Ai Advisors | NY | $6.03 billion | $8.53 billion | +41% |
| Bluespring Wealth Management, LLC | TX | $1.64 billion | $4.02 billion | +144% |
| Lansdowne Partners (Uk) LLP | $8.01 billion | $10.30 billion | +29% | |
| Impactassets Capital Partners Pb LLC | MD | $2.89 billion | $4.95 billion | +71% |
| Crossmark Global Investments, Inc. | TX | $7.09 billion | $8.98 billion | +27% |
| Unifi Asset Management LP | NY | $4.30 billion | $2.54 billion | -41% |
| Jefferies Investment Advisers LLC | NY | $3.42 billion | $5.15 billion | +51% |
| Alken Asset Management Ltd | $2.25 billion | $3.80 billion | +69% | |
| Cape Ann Asset Management | $2.32 billion | $3.78 billion | +63% | |
| Vittoria and Partners LLP | $3.65 billion | $4.95 billion | +36% | |
| Coller Private Market Secondaries Advisors, LLC | NY | $594.2 million | $1.85 billion | +211% |
| Gcw Partners LLP | $518.0 million | $1.71 billion | +231% | |
| S.W. Mitchell Capital LLP | $1.96 billion | $3.13 billion | +60% | |
| Clean Energy Transition International S.A.M. | $2.05 billion | $3.22 billion | +57% | |
| Avala Global LP | NY | $2.66 billion | $3.82 billion | +43% |
| Mesirow Re-ia, Inc. | IL | $1.51 billion | $2.64 billion | +75% |
| Maseco Private Wealth | $3.83 billion | $4.96 billion | +29% | |
| Mudita Management | $1.26 billion | $2.38 billion | +90% | |
| Mam Americas, Inc. | NY | $3.17 billion | $4.27 billion | +35% |
| Baillie Gifford International LLC | NY | $715.4 million | $1.81 billion | +153% |
Newly registered advisers
No longer registered
Present in the previous snapshot and absent from this one. Firms deregister for many ordinary reasons, including mergers and moving to state registration.
- Aileron Ltd · Bingham Farms, MI
- Arbor Financial · Ann Arbor, MI
- Arctos Partners · Dallas, TX
- Arthur Stein Financial, LLC · Bethesda, MD
- Athenainvest Advisors LLC · Greenwood Village, CO
- Atlas Financial Advisors, Inc. · Oroville, CA
- Aznar Financial Advisors, LLC
- Bandhan Amc Limited · Mumbai
- Bck Capital Management LP · Stamford, CT
- Bedell Frazier Investment Counselling, LLC. · Walnut Creek, CA
- Berch Capital LLC · Austin, TX
- Browning Capital Management LLC
- Caden Capital Partners, LP
- Cannon Hill Investment Management, LLC · New York, NY
- Capital Planning Advisors LLC · Roseville, CA
- Catalina Capital Group, LLC · Torrance, CA
- Corigliano Investment Advisers, LLC · Raleigh, NC
- Criterion Africa Partners · Bethesda, MD
- Dba Seaside Financial & Insurance Services · Carlsbad, CA
- Desmond Wealth Management, Inc. · Walnut Creek, CA
- Efficient Advisors
- Factorial Partners, LLC · Mount Kisco, NY
- Focuspoint Solutions, Inc. · Portland, OR
- Gfp Wealth Management · Thousand Oaks, CA
- Grace Advisors LLC · Wilmington, DE
- High Road Capital Partners, LLC
- House Hanover LLC · North Andover, MA
- Iron Triangle Partners LP · Cos Cob, CT
- Jackson Hole Capital Partners, LLC · Tulsa, OK
- Jazz Wealth Managers, Inc. · Largo, FL
- Jrb Capital Management · Steamboat Springs, CO
- Kaleel Investment Advisors, LLC · Boston, MA
- Kilonova Capital · San Francisco, CA
- Kin Stewards LLC
- Mesirow Advanced Strategies Inc · Chicago, IL
- Mill Creek Capital Advisors, LLC · Conshohocken, PA
- Mount Street Portfolio Advisers LLC · New York, NY
- Nebula Research & Development LLC
- Next Step Financial Planning, LLC
- North Ridge · Beaverton, OR
- Orizon Analytics · Sheridan, WY
- Parc Street Advisors · Syosset, NY
- Personal Financial Management · Coronado, CA
- Pm Wealth Advisors LLC · New York, NY
- Prince Financial Advisory LLC · New York, NY
- Purpose Comprehensive Wealth Management, LLC
- Quadrant Real Estate Advisors LLC · Alpharetta, GA
- Quant Alpha LLC · New York, NY
- Relentless Returns · Miami, FL
- Rgm Capital, LLC · Naples, FL
- Ritter Alpha, LP · New York, NY
- Ryo Capital Partners LLC · Key Biscayne, FL
- Sand Grove Capital Management LLP · London
- Sapphire Star Capital LLC · Redmond, WA
- Saybrook Wealth Group, Inc. · Old Saybrook, CT
- Sciens Diversified Managers LLC · New York, NY
- Secor Investment Advisors, LP · New York, NY
- Service Academy Capital Management LLC · Dallas, TX
- Siltstone Capital, LLC · Houston, TX
- Springwater Wealth Management, LLC · Lake Oswego, OR
- Sterling Financial Group, Inc. · Pasadena, CA
- Stonetree Capital Advisors, LLC
- Tap Capital LLC · New York, NY
- The H Group Washington, Inc. · Portland, OR
- The H Group, Inc. · Portland, OR
- Totus Alpha Management Pty Ltd · Sydney, Nsw
- Traditional Digital
- Trinetra Investment Management LLP · London
- Truvius · Boston, MA
- Ultra Capital Management LLC · San Francisco, CA
- Vantage Financial Partners, LLC · Elm Grove, WI
- Vectorglobal Iag, Inc. · Miami, FL
- Verus Advisory, Inc. · Seattle, WA
- Wealthspire Advisors · Melville, NY
- Western Asset Management Company Ltd · Chiyoda-ku, Tokyo
- Whalen Capital, Inc. · Wausau, WI
- Wolf Point Asset Management · Chicago, IL
- Xo Capital LLC