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Numbers Game

RIA Rundown: By the Numbers

Jun 3, 2017 @ 7:00 am

By IN Research and Ellie Zhu

The InvestmentNews RIA Data Center qualified over 1,900 fee-only registered investment advisory firms. For more information, please contact INResearch@investmentnews.com. Visit data.investmentnews.com/ria/ for more-complete profiles and interactive rankings.

Largest fee-only RIAs
Ranked by total assets under management
Total Discretionary Nondiscretionary
Rank Firm assets ($M) accounts assets ($M) accounts assets ($M) accounts Employees
1Financial Engines Advisors$138,000.0 1,166,541 $138,000.0 1,166,541 $0.0 0 908
2Fisher Investments$71,789.7 65,848 $71,789.7 65,848 $0.0 0 1,359
3Silvercrest Asset Management Group$33,114.9 1,096 $13,801.4 1,070 $19,313.5 26 120
4Hall Capital Partners$32,625.8 168 $7,401.5 49 $25,224.3 119 137
5Chevy Chase Trust Co.$25,528.2 3,356 $25,528.2 3,356 $0.0 0 83
6Edelman Financial Services$17,783.1 76,781 $17,783.1 76,781 $0.0 0 431
7Aperio Group$15,619.6 3,031 $15,619.6 3,031 $0.0 0 68
8Jasper Ridge Partners$15,254.2 49 $14,823.2 44 $431.0 5 77
9Veritable$14,044.8 2,976 $13,558.9 2,812 $485.9 164 84
10Kayne Anderson Rudnick$12,775.2 19,454 $10,720.3 12,559 $2,054.9 6,895 86
11BBR Partners$12,484.2 2,900 $10,357.5 2,700 $2,126.7 200 90
12Summit Rock Advisors$11,815.2 109 $5,368.4 72 $6,446.8 37 53
13Comprehensive Financial Management$10,981.0 33 $10,981.0 33 $0.0 0 27
14Aspiriant$10,532.4 8,510 $8,434.2 7,178 $2,098.2 1,332 156
15Rockefeller & Co. Inc.$10,328.7 2,830 $10,158.5 2,700 $170.1 130 151
16Brownson Rehmus & Foxworth Inc.$10,273.1 455 $0.0 0 $10,273.1 455 53
17Johnson Investment Counsel Inc.$9,109.8 8,650 $9,109.8 8,650 $0.0 0 109
18Bahl & Gaynor Inc.$9,087.9 2,049 $8,513.4 1,995 $574.4 54 19
19Anchor Capital Advisors$8,768.3 25,970 $3,427.4 5,406 $5,340.9 20,564 49
20Appleton Partners Inc.$8,279.7 5,558 $8,279.7 5,558 $0.0 0 45
21TAG Associates$8,264.5 1,231 $351.3 65 $7,913.2 1,166 67
22Tiedemann Wealth Management$8,224.7 438 $5,313.2 337 $2,911.6 101 60
23FCI Advisors$7,203.2 10,437 $6,266.0 9,168 $937.2 1,269 60
24Mercer Global Advisors Inc.$7,146.9 19,881 $6,859.4 18,446 $287.6 1,435 122
25Boston Private Wealth$6,742.1 6,285 $6,343.0 6,119 $399.0 166 116
26Evercore Wealth Management$6,473.9 2,605 $6,412.6 2,564 $61.3 41 75
27Ballentine Partners$6,397.1 3,803 $3,155.5 1,835 $3,241.5 1,968 68
28Pinnacle Associates$6,098.2 4,026 $6,098.2 4,026 $0.0 0 50
29Ronald Blue & Co.$5,722.0 16,212 $5,615.3 15,570 $106.6 642 275
30Global Financial Private Capital$5,676.4 63,776 $5,676.4 63,776 $0.0 0 387
31Gresham Partners$5,650.4 896 $3,268.7 141 $2,381.8 755 33
32KLS Professional Advisors Group$5,575.2 8,704 $5,013.7 5,636 $561.5 3,068 45
33Athena Capital Advisors$5,498.3 471 $4,884.5 408 $613.7 63 55
34WE Family Offices$5,341.6 70 $0.0 0 $5,341.6 70 43
35Scharf Investments$5,285.1 2,549 $5,285.1 2,549 $0.0 0 23
36RMB Capital Management$5,222.1 12,323 $4,632.6 10,084 $589.5 2,239 124
37East End Advisors$5,187.0 27 $711.1 12 $4,475.9 15 15
38CV Advisors$5,091.3 592 $501.1 129 $4,590.3 463 35
39Mill Creek Capital Advisors$4,981.2 319 $4,409.6 310 $571.7 9 27
40Tolleson Private Wealth Management$4,916.6 3,124 $4,738.8 2,933 $177.9 191 69
41Fiduciary Counselling Inc.$4,776.8 1,410 $2,376.3 1,202 $2,400.5 208 73
42Adviser Investments$4,722.3 10,287 $4,651.3 10,006 $71.1 281 82
43Savant Capital Management$4,671.6 4,147 $4,671.6 4,147 $0.0 0 136
44Ferguson Wellman Capital Management Inc.$4,561.2 2,255 $4,561.2 2,255 $0.0 0 46
45Homrich Berg$4,499.7 6,132 $4,129.7 6,011 $370.0 121 79
46Finaccess Advisors$4,354.2 140 $0.0 0 $4,354.2 140 12
47Wetherby Asset Management$4,292.0 3,506 $4,089.0 3,417 $203.0 89 65
48Seven Bridges Advisors$4,254.6 126 $1,947.0 20 $2,307.6 106 22
49Welch & Forbes$4,244.5 2,635 $3,958.8 2,540 $285.8 95 52
50Seven Post Investment Office$4,163.6 554 $3,948.6 499 $215.0 55 16

Biggest gainers
$1B+ fee-only RIAs ranked by year-over-year growth in total assets
2016 Total Discretionary Nondiscretionary
Rank Firm % change assets ($M) accounts assets ($M) accounts assets ($M) accounts Employees
1Adviser Investments125%$4,722.3 10,287$4,651.3 10,006$71.1 28182
2Personal Capital Advisors Corp90%$4,037.7 11,398$4,037.7 11,398$0.0 0
3Tiedemann Wealth Management68%$8,224.7 438$5,313.2 337$2,911.6 10160
4Boston Financial Management62%$1,944.9 2,016$1,890.5 1,995$54.4 2143
5Buckhead Capital Management49%$1,182.3 172$925.8 158$256.6 1412
6Delegate Advisors46%$1,768.0 502$131.7 47$1,636.3 45511
7Lake Street Advisors46%$2,658.2 1,554$909.4 651$1,748.8 90329
8Regis Management Co.45%$2,081.3 47$2,081.3 47$0.0 0
9RMB Capital Management43%$5,222.1 12,323$4,632.6 10,084$589.5 2,239124
10Century Management38%$1,416.7 1,189$1,416.7 1,189$0.0 0
11Exencial Wealth Advisors38%$1,814.7 3,006$1,588.9 2,984$225.8 2257
12Arlington Partners37%$1,527.8 585$930.9 512$596.9 7320
13Cookson Peirce Wealth Management33%$1,119.1 655$1,119.1 655$0.0 0
14Parallel Advisors33%$1,377.4 5,212$1,377.4 5,212$0.0 0
15Kayne Anderson Rudnick33%$12,775.2 19,454$10,720.3 12,559$2,054.9 6,89586
16Reilly Financial Advisors32%$1,023.6 3,671$966.4 3,417$57.2 25434
17BakerAvenue31%$1,155.1 1,358$863.4 1,317$291.7 4119
18New England Private Wealth Advisors31%$1,552.9 2,272$1,076.2 1,927$476.7 34516
19Orgel Wealth Management31%$3,964.9 7,049$3,256.2 6,988$708.7 6140
20Columbia Pacific Wealth Management28%$2,582.0 774$1,447.8 296$1,134.2 47824
21PagnatoKarp Partners28%$1,513.6 2,052$1,512.0 2,045$1.6 7
22Hartland & Co.28%$3,226.6 2,645$2,494.8 1,827$731.9 81869
23RTD Financial Advisors Inc.28%$1,250.2 565$1,218.5 550$31.6 1530
24Huber Financial27%$1,220.5 4,372$1,032.8 3,132$187.7 1,24019
25WE Family Offices26%$5,341.6 70$0.0 0$5,341.6 7043

Top fee-only RIAs by state
States where fee-only RIAs are headquartered, ranked by total assets
Total assets ($M)/ Discretionary assets ($M)/ Nondiscretionary assets ($M)/
State/top 3 firms # of fee-only RIAs market share market share market share
1 California 297 $384,176.8 $336,189.2 $47,987.6
1 Financial Engines Advisors 35.9% 41.0% 0.0%
2 Hall Capital Partners 8.5% 2.2% 52.6%
3 Aperio Group 4.1% 4.6% 0.0%
2 New York 115 $174,540.2 $113,270.7 $61,269.6
1 Silvercrest Asset Management Group 19.0% 12.2% 31.5%
2 BBR Partners 7.2% 9.1% 3.5%
3 Summit Rock Advisors 6.8% 4.7% 10.5%
3 Washington 63 $118,453.3 $108,308.2 $10,145.1
1 Fisher Investments 60.6% 66.3% 0.0%
2 Brighton Jones 3.3% 3.6% 0.7%
3 Freestone Capital Management 3.3% 3.0% 6.5%
4 Massachusetts 101 $101,527.7 $85,026.3 $16,501.4
1 Anchor Capital Advisors 8.6% 4.0% 32.4%
2 Appleton Partners Inc. 8.2% 9.7% 0.0%
3 Boston Private Wealth 6.6% 7.5% 2.4%
5 Illinois 82 $76,905.0 $53,606.4 $23,298.6
1 Brownson Rehmus & Foxworth Inc. 13.4% 0.0% 44.1%
2 Gresham Partners 7.3% 6.1% 10.2%
3 RMB Capital Management 6.8% 8.6% 2.5%
6 Texas 110 $70,681.7 $61,651.0 $9,030.7
1 Jasper Ridge Partners 21.6% 24.0% 4.8%
2 Tolleson Private Wealth Management 7.0% 7.7% 2.0%
3 RGT Wealth Advisors 5.4% 5.9% 2.6%
7 Virginia 80 $62,747.8 $56,788.6 $5,959.3
1 Edelman Financial Services 28.3% 31.3% 0.0%
2 Signature Family Wealth Advisors 5.6% 6.2% 0.0%
3 Sullivan Bruyette Speros & Blayney 4.7% 5.2% 0.0%
8 Pennsylvania 77 $60,702.3 $54,528.0 $6,174.3
1 Veritable 23.1% 24.9% 7.9%
2 Mill Creek Capital Advisors 8.2% 8.1% 9.3%
3 Miller Investment Management 5.1% 2.9% 24.5%
9 Ohio 72 $60,143.8 $52,689.1 $7,454.7
1 Johnson Investment Counsel Inc. 15.1% 17.3% 0.0%
2 Bahl & Gaynor Inc. 15.1% 16.2% 7.7%
3 Bartlett & Co. 5.9% 6.6% 1.4%
10 Maryland 48 $47,750.3 $44,548.2 $3,202.0
1 Chevy Chase Trust Co. 53.5% 57.3% 0.0%
2 WMS Partners 7.2% 5.4% 32.3%
3 Heritage Investors Management Corp. 4.5% 4.8% 0.5%
11 Florida 73 $45,787.6 $29,037.8 $16,749.8
1 Global Financial Private Capital 12.4% 19.5% 0.0%
2 WE Family Offices 11.7% 0.0% 31.9%
3 CV Advisors 11.1% 1.7% 27.4%
12 Georgia 58 $43,047.1 $37,137.0 $5,910.2
1 Ronald Blue & Co. 13.3% 15.1% 1.8%
2 Homrich Berg 10.5% 11.1% 6.3%
3 SignatureFD 5.9% 5.4% 9.3%
13 Connecticut 42 $27,238.5 $24,346.4 $2,892.0
1 Chilton Investment Services 13.9% 15.5% 0.8%
2 Symmetry Partners 13.1% 14.6% 0.0%
3 Bradley Foster & Sargent Inc. 11.5% 12.6% 2.1%
14 New Jersey 59 $27,098.7 $22,960.9 $4,137.8
1 RegentAtlantic 12.0% 13.9% 1.9%
2 Modera Wealth Management 7.6% 8.9% 0.3%
3 Massey Quick & Co. 7.1% 3.4% 28.0%
15 North Carolina 55 $23,102.4 $19,473.4 $3,629.0
1 Parsec Financial Management Inc. 8.7% 9.6% 3.5%
2 Delegate Advisors 7.7% 0.7% 45.1%
3 Biltmore Family Office 6.0% 4.3% 15.4%
16 Wisconsin 49 $22,018.9 $19,140.3 $2,878.7
1 Orgel Wealth Management 18.0% 17.0% 24.6%
2 North Star Asset Management Inc. 5.9% 6.6% 0.9%
3 Pegasus Partners 5.2% 5.5% 3.0%
17 Michigan 45 $21,587.6 $18,401.7 $3,185.9
1 Brick Capital Management Inc. 10.0% 0.0% 67.6%
2 Mainstay Capital Management 9.6% 10.2% 6.2%
3 Retirement Income Solutions Inc. 7.1% 8.3% 0.0%
18 Colorado 52 $20,121.3 $15,784.4 $4,337.0
1 Obermeyer Wood Investment Counsel 7.5% 9.2% 1.4%
2 IWP Wealth Management 7.1% 0.7% 30.4%
3 Rocky Mountain Advisers 6.3% 8.0% 0.0%
19 Minnesota 33 $17,568.3 $14,314.2 $3,254.0
1 Fiduciary Counselling Inc. 27.2% 16.6% 73.8%
2 Accredited Investors Wealth Management 9.0% 10.8% 0.9%
3 Envoi 7.6% 9.3% 0.0%
20 Indiana 37 $16,468.9 $13,914.8 $2,554.1
1 Valeo Financial Advisors 14.7% 5.9% 62.8%
2 Goelzer Investment Management 8.4% 9.7% 1.1%
3 Donaldson Capital Management 7.4% 8.3% 2.5%

InvestmentNews qualified 1,906 firms headquartered in the United States based on data reported on Form ADV to the Securities and Exchange Commission as of May 1, 2017. To qualify, firms must have met the following criteria: (1) latest ADV filing date is either on or after Jan. 1, 2017, (2) total AUM is at least $100M, (3) does not have employees who are registered representatives of a broker-dealer, (4) provided investment advisory services to clients during its most recently completed fiscal year, (5) no more than 50% of amount of regulatory assets under management is attributable to pooled investment vehicles (other than investment companies), (6) no more than 25% of amount of regulatory assets under management is attributable to pension and profit-sharing plans (but not the plan participants), (7) no more than 25% of amount of regulatory assets under management is attributable to corporations or other businesses, (8) does not receive commissions, (9) provides financial planning services, (10) is not actively engaged in business as a broker-dealer (registered or unregistered), (11) is not actively engaged in business as a registered representative of a broker-dealer, (12) has neither a related person who is a broker-dealer/municipal securities dealer/government securities broker or dealer (registered or unregistered) nor one who is an insurance company or agency.
Visit data.InvestmentNews.com/ria for more-complete profiles and financials. Contact the InvestmentNews data team at IN-data@investmentnews.com for more information. Source: InvestmentNews Data

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