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Research Affiliates
Filed as RESEARCH AFFILIATES · Legal name Syzygy Asset Management, LLC
Research Affiliates is an SEC-registered investment advisory firm in Newport Beach, CA, registered since 2002, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated September 18, 2026.
Quick answers
From the filingHow is Research Affiliates compensated?
On its Form ADV (Item 5.E, October 2026), Research Affiliates reports these compensation arrangements: a percentage of assets under its management.
Where is Research Affiliates located?
Research Affiliates' principal office is in Newport Beach, CA, according to its Form ADV.
Is Research Affiliates registered with the SEC or a state?
Research Affiliates is an SEC-registered investment advisory firm, registered since 2002. Status as filed: Approved. CRD 120440.
How much does Research Affiliates manage?
Research Affiliates reports $32,222,800,756 in regulatory assets under management in its Form ADV filing dated September 18, 2026 (93% discretionary).
How have Research Affiliates' assets and staff changed since 2021?
In the Form ADV data for Research Affiliates: Regulatory assets under management: $31,312,484,943 in the October 2021 data and $32,222,800,756 in the October 2026 data, up 3%. Total employees: 69 in October 2021 and 31 in October 2026. Assets under management move with markets as well as with clients coming and going.
What types of clients does Research Affiliates serve?
By number of clients on Form ADV Item 5.D: investment companies (15); pooled investment vehicles (other than investment companies and business development companies) (9); state or municipal government entities (including government pension plans) (5).
Does Research Affiliates report any disciplinary disclosures?
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/120440
What changed in Research Affiliates' recent Form ADV filings?
In the October 2026 filing data: Changed its legal name from Research Affiliates, LLC to Syzygy Asset Management, LLC. Employees performing advisory functions went from 29 to 15. Regulatory assets under management went from $27,844,764,168 to $32,222,800,756 (+16%). Updated its list of owners and control persons (Schedule A).
From the Form ADV filing
Every figure below is as the firm filed it with regulators, as of October 2026.
How the firm is compensated
Item 5.E- A percentage of assets under your management
Item 5.E lists how the firm is compensated for its advice; Items 5.B, 6.A, and 7.A show whether its people or related companies can also earn commissions. Percentage of assets, fixed, hourly, subscription, and performance-based fees come from clients (a performance-based fee depends on investment results); commissions come with a sale or a trade, often from the company behind the product. How fees, commissions, and other arrangements differ
Fees and minimums
Form ADV Part 2ASee the firm's brochure (dated March 26, 2026) for its fees and any account minimum, on the SEC's IAPD site.
Regulatory assets under management
Item 5.F$32,222,800,756 as of October 2026, filing dated September 18, 2026.
A measure of scale, not skill or returns. Discretionary means the firm decides trades; non-discretionary means clients approve each one. What assets under management means
Who the firm serves
Item 5.DA firm with no individual clients is an institutional manager even if it manages billions; the mix tells you whom the practice is built around.
Advisory services
Item 5.G- Portfolio management for investment companies (and business development companies)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients
- Other
Registration and firm details
Items 1, 2, 5- Legal name
- Syzygy Asset Management, LLC
- Registration
- SEC-registered investment adviser. Status as filed: Approved.
- Registered since
- 2002 (24 years)
- Employees
- Total: 31. Performing investment advisory functions: 15.
- Wrap fee program participation
- No.
- States registered or notice-filed
-
1 state or jurisdiction
SEC-registered investment advisers are examined by the SEC. SEC, state, and exempt registration
Disclosures
Item 11None Reports no disclosure items on Form ADV Item 11. View on IAPD.
Item 11 asks about criminal, regulatory, and civil events involving the firm and its advisory personnel. The detail of each yes answer is on the IAPD record. Reading a firm's disclosures
Assets and staff over time
Items 5.A, 5.F| Data period | Assets under management | Employees | Filing dated |
|---|---|---|---|
| October 2026 | $32,222,800,756 | 31 | September 18, 2026 |
| October 2025 | $26,308,896,262 | 71 | May 22, 2025 |
| October 2024 | $28,392,009,518 | 67 | July 10, 2024 |
| October 2023 | $27,737,473,504 | 65 | July 18, 2023 |
| October 2022 | $35,071,609,004 | 81 | June 24, 2022 |
| October 2021 | $31,312,484,943 | 69 | August 2, 2021 |
Regulatory assets under management: $31,312,484,943 in the October 2021 data and $32,222,800,756 in the October 2026 data, up 3%.
Total employees: 69 in October 2021 and 31 in October 2026.
As filed in each year's data for the same month. Assets under management move with markets as well as with clients coming and going; they measure scale, not skill or returns. Most firms update these figures once a year.
Changes in the filing
Last 12 months- October 2026
- Changed its legal name from Research Affiliates, LLC to Syzygy Asset Management, LLC.
- Employees performing advisory functions went from 29 to 15.
- Regulatory assets under management went from $27,844,764,168 to $32,222,800,756 (+16%).
- Updated its list of owners and control persons (Schedule A).
- April 2026
- Employees performing advisory functions went from 35 to 29.
- December 2025
- Updated its list of owners and control persons (Schedule A).
Compared month to month from the SEC's monthly adviser data and the state compilation feed. Owners and control persons are summarized, never named.
Websites listed on Form ADV
Item 1.ISource: Form ADV, as of October 2026. Values appear as filed; a value the firm did not report is shown as "Not reported."
Cite this page
AdvisorCensus. Research Affiliates (CRD 120440): Form ADV filing data as of October 2026. https://advisorcensus.com/firm/research-affiliates-newport-beach-ca-120440