The ADV Part 3 (Form CRS) is a client/customer relationship summary. Advisers/brokers are required to deliver an ADV Part 3 to clients beginning in summer 2020. The relationship summary contains important information about the adviser or broker.
Form ADV Part 2A (Brochure) contains information about advisers/brokers, such as their fees, client types, assets under management, and any disclosures regarding their business. Advisers are required to provide Form ADV Part 2A to prospective/new clients and annually to existing clients.