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.

Changelog

2026-07-26

nameMatchMode is now part of the derived watch baseline. It decides whether firmNameContains matches ANY or ALL of the supplied substrings, so it changes which advisers are in scope. Previously both modes resolved to the same auto-derived baseline, and flipping the mode made advisers that no longer matched read as removed_from_scope — real deltas with the wrong cause.

If you pin baselineKey, nothing changes. If you do not, your derived baseline name changes once with this build: the next run re-seeds and emits zero deltas, and your previous state is archived under the old key rather than deleted. Runs after that behave normally. This is a one-time cost, taken deliberately in exchange for correct scoping.

source_url is now carried on removed_from_scope deltas. A removal has no after-profile, so the field was previously empty on exactly that delta type. Records already absent when this build shipped keep an empty source_url on their eventual removal delta — we genuinely do not know where they were last seen, and no value has been invented to fill it.

Run memory raised to 1024 MB. apify-actor-start bills per gigabyte with a minimum of one, so 512 MB cost the same as 1024 MB. No price change; more headroom on large editions.

Pricing

Event	FREE	BRONZE	SILVER	GOLD+
Actor Start (apify-actor-start)	$0.02	$0.02	$0.02	$0.02
Adviser delta (adviser_delta)	$0.08	$0.072	$0.064	$0.0536
Watch check (watch_check)	$0.10	$0.09	$0.08	$0.067

Prices are the filed pay-per-event amounts per plan tier (PLATINUM/DIAMOND match GOLD). Blocked and refused runs do not intentionally charge value events.