Changes in the investment adviser business in the United States

摘要

Purpose – The purpose of this paper is to discuss the overall profile of SEC-registered investment advisers in the USA, to identify trends and influences on the profile of investment advisers, and to extrapolate to future expectations in the profile of SEC-registered investment advisers. Design/methodology/approach – The approach reviews the SEC registration filings by all investment advisers from a granular level to the overall impact and identifies trends and patterns from a similar analysis applied consistently over a six-year period of similar annual analysis. Findings – The paper reveals that the numbers of registered investment advisers continues to grow. Hedge fund advisers were required to register with the SEC until the US Court of Appeals for the DC Circuit entered a decision vacating that rule. Where that decision takes the investment advisory community will be reflected in statistics from future SEC filings by investment advisers. The data show an increasing globalization of the investment adviser business and continued growth opportunities for compliance professionals. Originality/value – The paper is based on review of statistics of all SEC-registered investment advisers filed with the SEC on forms ADV Part 1 for 2006. The study analyzed the statistics and drew conclusions relevant to compliance professionals in the investment adviser space.