The Form ADV is a document that all Registered Investment Advisors in the United States have to file with the respective regulatory bodies.
All Investment Advisory Representatives for an RIA are required to be listed and disclosure to be provided about them as well as background. This information is also submitted as part of the form ADV process. For information on how to view and follow Form ADVs, please see our full help article below:
The ADV Monitoring Module eases the process of reviewing filings by allowing users to view and follow firms. You can also compare two ADV filings of the same firm on one screen. As of the 26.9 release, the module also automatically monitors followed firms for changes and can alert you by email — see Ongoing Monitoring & Automatic Alerts below.
This article will cover the following topics:
View Firm
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Navigate to the ADV Monitoring Module and Firms Screen as shown below. Once here, click on a Firm Name to view the firm.
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From the ADV Forms Screen, click on the Date link to view the relative Form version.
Compare Forms
Users have the option to compare two form versions at a time.
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Click on the Compare with dropdown arrow and choose a form to compare your current form with. Once an additional form is selected, click the Compare button.
- The Comparison Mode will be enabled, allowing you to review the current and previous values side-by-side. Click the Expand View link to open the comparisons in full view. To navigate back to the previous view, select the Collapse View link.
- Additionally, you have the option to only compare the questions for which answers have been changed. Click the Radio button as shown below for this. You can also choose to view only the fields you're tracking in your ADV Configuration settings — select the Tracked Fields Only option to narrow the comparison to just those fields.
Close Comparison
Click the Close Comparison link to close your previously selected comparison form.
Ongoing Monitoring & Automatic Alerts
You no longer need to manually check for changes on the firms you follow. Each time a followed or linked manager files a new Form ADV, CENTRL automatically compares it against the manager's most recent prior filing and records exactly what changed — field by field.
If a manager has no prior filing on record yet, that filing is simply stored as the baseline; no comparison or alert is generated until the next filing.
When changes are detected, CENTRL generates an alert for every client who follows that manager or has it linked to a Manager record. Each alert includes:
- Manager name and CRD number
- The field(s) that changed, with old and new values
- The filing date and the date the change was detected
You'll also receive an email notification summarizing the changes, with a direct link to the diff view in Compare Forms (see above) so you can review the full side-by-side comparison.
Note: By default, alerts are generated for changes to any tracked field. To limit which fields trigger an alert, see ADV Configuration below.
ADV Configuration
Use ADV Configuration to control how you're notified about changes to the firms you follow.
- Email mailbox for alerts: Enter an email address here to have it CC'd on every ADV change alert email.
- ADV Field tracking: Choose which ADV fields (for example, AUM, disciplinary events, ownership, or fee structure) should trigger an alert when they change. By default, all fields are selected.
Note: Field-tracking preferences apply across all managers you follow and take effect starting with the next monthly filing cycle — they don't affect a filing that's already been processed. They also only control which changes generate an alert email; the Compare Forms diff view (above) always shows changes to all fields unless you choose Tracked Fields Only.