Real Estate Investment Securities Association
ADISA—The Alternative and Direct Investment Securities Association (formerly known as REISA) or ADISA is a US-based, registered 501c6, not-for-profit trade association for professionals in the alternative and direct investment industry. The association has about 4,000 members involved in the development, sales, and servicing of non-traded alternative investments (i.e., not traditional stocks, bonds, and cash, but instead investments non-correlated to those markets).
ADISA represents those professionals focused on real estate, oil and gas, BDCs (Business Development Companies), and other direct/alternative investments typically sold through the Broker-Dealer or Registered Investment Advisor (RIA) network. ADISA exists to educate Broker-Dealers/RIAs, FINRA registered representatives, investment advisory representatives (IAR), and other professionals in the securitized alternative investment industry on how to protect clients, increase business, resolve problems, introduce them to quality investment product developers (sponsors), and provide networking opportunities. The association’s registered trademark is Helping Members Serve Investors .
The majority of the investment vehicles that the association’s members interact with include:
- public and private non-traded real estate investment trusts (REITs)
- real estate partnerships, income and development funds
- BDCs (Business Development Companies)
- undivided fractional interests in real estate tenant-in-common (TIC) and Delaware Statutory Trusts (DSTs)
- offerings in natural resources such as oil and gas programs
REISA, formerly the Tenant-In-Common Association (TICA), was formed in 2003 specifically to provide a central organization of industry related companies focused exclusively on the fractional ownership industry. It was founded as a cooperative effort between TIC professionals to advance the TIC industry. Its mission was to promote the ethical standards for its members, while providing education and information to the entire TIC community. In 2009, as the industry changed and TICA members began selling additional products, the organization adapted to the changing marketplace by expanding the products it represented and changed its name to the Real Estate Investment Securities Association (REISA). In September 2014, the REISA Board of Directors, reacting to the expansion of investment products handled by the members, voted unanimously to change the name to ADISA.
ADISA members include:
- Broker-Dealers and Registered Investment Advisors (RIA)
- Registered Representatives
- Investment Advisory Representatives (IAR)
- Mortgage Bankers
- Institutional Lenders
- Qualified Intermediaries
- Due Diligence firms
- Other affiliated industries
ADISA is a membership organization and provides benefits to its members that include electronic newsletters, a bimonthly newsletter (FYI), monthly educational webinars, reduced fees for conference registration, networking opportunities, white papers and various other educational publications, and lobbying activity on behalf of the industry. ADISA produces a quarterly print publication Alternative Investment Quarterly which is also online at http://www.adisa.org/Publications/AIQ
ADISA also has a nonprofit, 501(c)(3) foundation titled the ADISA Foundation.
- Helping Members Serve Investors is registered in the U.S. Patent and Trademark Office by its former name, the Real Estate Investment Securities Association, Inc
- http://www.frej.net/news/news/2009-06-03/tica-relaunches-under-reisa-banner; http://www.realtor.org/rmocommercial/articles/2009/0909_commercial_tic
- http://www.allbusiness.com/company-activities-management/company-strategy/13679311-1.html; http://www.reisa.org/
- http://www.adisa.org/sections/publications; http://www.mortgagemag.com/news/2009/1016/1000013334070.htm
- "Real Estate Investment Securities Association Hosts Monthly Webinar Series". RISMedia. 2009-06-25. Retrieved 2011-05-23.
- "De-constructing real estate investment trusts: A detailed look at the hidden benefits". NYREJ. Retrieved 2011-05-23.