Form ADV Refresh Effort Estimator
Form ADV annual amendments are a structural cost of being an RIA. The cost varies dramatically with firm complexity. This calculator estimates the annual amendment hours given firm size + complexity, and surfaces the data artifacts that compress the number from days to half-days.
What you walk away with
~40s · 5 inputs- Estimated annual amendment hours.
- A delta showing the hours saved by adopting the Form ADV Refresh Template + the Disclosure Completeness Scorecard.
- A linked Form ADV checklist for the field-by-field reference.
Inputs
In billions USD. Use 0.1 for $100M.
Hours of CCO + outside counsel + preparer + advisor time consumed by the annual amendment cycle. Driven by complexity and tooling — adopting the template + scorecard cuts ~30%.
At a blended $250/hr (CCO + outside counsel + preparer mix). Scales linearly with hours.
Annual hours under three tooling states.
- Ad-hoc tooling183 hours
- Templated but manual (default)131 hours
- Templated + populated + sign-off91 hours
FAQ
Does this include the IARD filing fee?
No — IARD has nominal fees ($40-225 depending on registration state). The cost above is internal hours, where 95%+ of the real cost lives.
Why does Part 2B drive so much of it?
Each individual's supplement requires verification of educational background, business experience, disclosure events, and a fresh signature. With 20+ individuals it becomes the largest single line item.