Jan 10, 2026
SEC proposal to define RIAs as 'small,' unless they have $1 billion-plus in AUM, is a 'big deal,' IAA lawyer says, even if one key suggestion is currently excluded
Currently, only sub-$25-million AUM RIAs, get accorded 'small-entity' regulatory status, which is burdensome for tens of thousands of small practices, says Independent Adviser Association, though ideally a metric other than AUM should define size