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Discovery Data Expands RIA Industry View to Include Exempt Reporting Advisers

EATONTOWN, NJ — February 15, 2013 — Discovery Data RIA now offers information on over 2,300 Exempt Reporting Advisers (ERAs), expanding clients' industry view to over 29,500 investment advisory firms.

These investment advisory firms are not required to register with the Securities and Exchange Commission (SEC), in most cases because they are adviser to private funds (e.g. hedge funds and private equity funds) and have less than $150 million under management, or adviser to venture capital funds (no asset stipulation).

“In filing to inform the SEC of the exemption to register, ERAs are required to provide enough information to make it valuable for certain of our clients that we include these firms within Discovery Data RIA (even though technically ERAs are not RIAs),” states Bob Herrmann, CEO of Discovery Data.

The information provided in the filing includes firm name, adviser type, address, website, branch office locations, other business activities, affiliations, and principal names and roles. ERAs do not need to provide details about their clients, AUM, investment strategies, fee structures, and other business profile information. ERAs do not need to provide a brochure (Form ADV Part 2A).

For more information on Discovery Data, contact 732-933-1899 or info@discoveryco.com.

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