AdviserReport launches with conflict-of-interest grades for SEC advisers

Transparent LLC has launched AdviserReport.com, a consumer platform that grades every SEC-registered investment adviser from A through D using disclosure data from Form ADV Part 1A. The service is designed to help households review conflicts of interest before hiring a financial adviser and to compare firms on a plain-English basis.

Why it matters: - Households can now review a plain-English conflict check before choosing a financial adviser. - AdviserReport is designed to help consumers spot potential conflicts in a relationship that can affect fees and service over decades. - The platform is built for people, not advisers, and is meant to answer a simple question: where might a firm's business model create conflicts?

What happened: - Transparent LLC launched AdviserReport.com on July 9, 2026. - The platform grades every SEC-registered investment adviser on a letter scale from A through D. - The service uses its proprietary conflict-of-interest architecture to turn disclosure filings into a consumer report. - AdviserReport is live at More information.

The details: - AdviserReport reads Form ADV Part 1A, the disclosure form filed with the U.S. Securities and Exchange Commission. - The scoring engine measures how many conflict layers appear in a firm's business structure. - The methodology looks at compensation, services, other business activities and affiliations. - AdviserReport does not judge the quality of advice, the services offered or whether fees are fair. - At launch, the platform has graded 33,156 firms. - The published distribution is: A, 1,624; A-, 8,008; B, 13,973; B-, 8,194; C, 1,201; C-, 155; D, 1. - Users can search and filter firms and advisers, read a sample report, use the Adviser Fee Calculator and review the methodology for free. - A paid report includes a plain-English discussion of conflict layers at both the individual adviser and firm level. - The paid report also includes a tailored list of questions to use in a first meeting. - One purchase covers all individuals registered under that firm for 12 months. - Users who buy multiple firm reports can compare up to four firms and their advisers side by side.

Between the lines: - AdviserReport is positioning itself as an independent screening tool, not a rating of advice quality. - The A-to-D score is meant as a starting point for questions, not an automatic recommendation or warning. - A lower grade does not necessarily mean a firm is the wrong fit, since some households may need the services that come with a more complex business model. - The company is trying to separate consumer information from referral economics by staying ad-free and not selling leads.

What's next: - Consumers can begin using the platform now to compare advisers before or after starting a financial relationship. - AdviserReport will likely build value through its report library, side-by-side comparisons and ongoing access to registered individuals under each firm. - The company says no firm can buy a better grade, which keeps the score tied to disclosure data rather than paid placement.

The bottom line: - AdviserReport is turning SEC disclosure filings into a consumer tool that makes adviser conflicts easier to see before money changes hands.