Which of the following is NOT a potential risk factor requiring additional disclosure in Form ADV?

Personal investment returns are not typically considered a potential risk factor that requires additional disclosure in Form ADV. The purpose of Form ADV is to provide critical information about the nature of the investment adviser’s business and to disclose material facts that could impact a client's decision-making process. While a firm might report on various aspects of its operations and client relationships, individual investment returns are considered to be private and not relevant to the business's overall risk profile.

In contrast, other factors such as disciplinary history, the number and type of clients, and compensation arrangements have significant implications for clients assessing the adviser’s reputation, conflicts of interest, and overall integrity. Disciplinary history reflects past behavior that could raise concerns about the adviser's professionalism. The variety and makeup of clients can indicate the adviser's experience and expertise in specific areas, while compensation arrangements might reveal potential conflicts of interest that could affect the adviser's recommendations to clients. These elements are crucial for clients to understand the adviser's context and the potential impact on the services they receive.