That's why ADV has begun making its own content.

FORBES: Why Grow Up?

For example, since these advisers are not required to register under our federal securities laws, clients will not receive the firm disclosure documents (Form ADV) that the SEC requires registered money managers to provide.

FORBES: International Private Banks Offer No Safe Haven For Wealthy Foreign Investors

That's done at ADV's Houston production center-featuring eight soundproof studios with mission-control-style consoles to upgrade soundtracks.

FORBES: Why Grow Up?

The study by Diligence Review Corp. follows up on earlier research, based on mandatory Form ADV filings with the SEC, that found one in nine money managers has a regulatory black mark.

FORBES: $23 Trillion In The Hands Of Managers With One Or More Violations

He points out, moreover, that feeding a 24-hour network could be challenging for ADV.

FORBES: Why Grow Up?

It appears that some consultants have misrepresented their affiliations with brokerages in their Form ADV filings with the SEC.

FORBES: The Heat is On Pension Consultants (May 2, 2004 )

By comparison that month, Nasdaq had 19.0% of the matched adv, the New York Stock Exchange had 14.8% matched adv and NYSE Arca had 13.9% matched adv, also according to Arcavision market data.

FORBES: Move Over NYSE And NASDAQ, There Are New Exchanges In Town