RIA Rundown: By the Numbers
InvestmentNews'exclusive rankings of the top fee-only registered investment advisory firms
The InvestmentNews RIA Data Center qualified over 1,900 fee-only registered investment advisory firms. For more information, please contact [email protected]. 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 |
| 1 | Financial Engines Advisors | $138,000.0 | 1,166,541 | $138,000.0 | 1,166,541 | $0.0 | 0 | 908 |
| 2 | Fisher Investments | $71,789.7 | 65,848 | $71,789.7 | 65,848 | $0.0 | 0 | 1,359 |
| 3 | Silvercrest Asset Management Group | $33,114.9 | 1,096 | $13,801.4 | 1,070 | $19,313.5 | 26 | 120 |
| 4 | Hall Capital Partners | $32,625.8 | 168 | $7,401.5 | 49 | $25,224.3 | 119 | 137 |
| 5 | Chevy Chase Trust Co. | $25,528.2 | 3,356 | $25,528.2 | 3,356 | $0.0 | 0 | 83 |
| 6 | Edelman Financial Services | $17,783.1 | 76,781 | $17,783.1 | 76,781 | $0.0 | 0 | 431 |
| 7 | Aperio Group | $15,619.6 | 3,031 | $15,619.6 | 3,031 | $0.0 | 0 | 68 |
| 8 | Jasper Ridge Partners | $15,254.2 | 49 | $14,823.2 | 44 | $431.0 | 5 | 77 |
| 9 | Veritable | $14,044.8 | 2,976 | $13,558.9 | 2,812 | $485.9 | 164 | 84 |
| 10 | Kayne Anderson Rudnick | $12,775.2 | 19,454 | $10,720.3 | 12,559 | $2,054.9 | 6,895 | 86 |
| 11 | BBR Partners | $12,484.2 | 2,900 | $10,357.5 | 2,700 | $2,126.7 | 200 | 90 |
| 12 | Summit Rock Advisors | $11,815.2 | 109 | $5,368.4 | 72 | $6,446.8 | 37 | 53 |
| 13 | Comprehensive Financial Management | $10,981.0 | 33 | $10,981.0 | 33 | $0.0 | 0 | 27 |
| 14 | Aspiriant | $10,532.4 | 8,510 | $8,434.2 | 7,178 | $2,098.2 | 1,332 | 156 |
| 15 | Rockefeller & Co. Inc. | $10,328.7 | 2,830 | $10,158.5 | 2,700 | $170.1 | 130 | 151 |
| 16 | Brownson Rehmus & Foxworth Inc. | $10,273.1 | 455 | $0.0 | 0 | $10,273.1 | 455 | 53 |
| 17 | Johnson Investment Counsel Inc. | $9,109.8 | 8,650 | $9,109.8 | 8,650 | $0.0 | 0 | 109 |
| 18 | Bahl & Gaynor Inc. | $9,087.9 | 2,049 | $8,513.4 | 1,995 | $574.4 | 54 | 19 |
| 19 | Anchor Capital Advisors | $8,768.3 | 25,970 | $3,427.4 | 5,406 | $5,340.9 | 20,564 | 49 |
| 20 | Appleton Partners Inc. | $8,279.7 | 5,558 | $8,279.7 | 5,558 | $0.0 | 0 | 45 |
| 21 | TAG Associates | $8,264.5 | 1,231 | $351.3 | 65 | $7,913.2 | 1,166 | 67 |
| 22 | Tiedemann Wealth Management | $8,224.7 | 438 | $5,313.2 | 337 | $2,911.6 | 101 | 60 |
| 23 | FCI Advisors | $7,203.2 | 10,437 | $6,266.0 | 9,168 | $937.2 | 1,269 | 60 |
| 24 | Mercer Global Advisors Inc. | $7,146.9 | 19,881 | $6,859.4 | 18,446 | $287.6 | 1,435 | 122 |
| 25 | Boston Private Wealth | $6,742.1 | 6,285 | $6,343.0 | 6,119 | $399.0 | 166 | 116 |
| 26 | Evercore Wealth Management | $6,473.9 | 2,605 | $6,412.6 | 2,564 | $61.3 | 41 | 75 |
| 27 | Ballentine Partners | $6,397.1 | 3,803 | $3,155.5 | 1,835 | $3,241.5 | 1,968 | 68 |
| 28 | Pinnacle Associates | $6,098.2 | 4,026 | $6,098.2 | 4,026 | $0.0 | 0 | 50 |
| 29 | Ronald Blue & Co. | $5,722.0 | 16,212 | $5,615.3 | 15,570 | $106.6 | 642 | 275 |
| 30 | Global Financial Private Capital | $5,676.4 | 63,776 | $5,676.4 | 63,776 | $0.0 | 0 | 387 |
| 31 | Gresham Partners | $5,650.4 | 896 | $3,268.7 | 141 | $2,381.8 | 755 | 33 |
| 32 | KLS Professional Advisors Group | $5,575.2 | 8,704 | $5,013.7 | 5,636 | $561.5 | 3,068 | 45 |
| 33 | Athena Capital Advisors | $5,498.3 | 471 | $4,884.5 | 408 | $613.7 | 63 | 55 |
| 34 | WE Family Offices | $5,341.6 | 70 | $0.0 | 0 | $5,341.6 | 70 | 43 |
| 35 | Scharf Investments | $5,285.1 | 2,549 | $5,285.1 | 2,549 | $0.0 | 0 | 23 |
| 36 | RMB Capital Management | $5,222.1 | 12,323 | $4,632.6 | 10,084 | $589.5 | 2,239 | 124 |
| 37 | East End Advisors | $5,187.0 | 27 | $711.1 | 12 | $4,475.9 | 15 | 15 |
| 38 | CV Advisors | $5,091.3 | 592 | $501.1 | 129 | $4,590.3 | 463 | 35 |
| 39 | Mill Creek Capital Advisors | $4,981.2 | 319 | $4,409.6 | 310 | $571.7 | 9 | 27 |
| 40 | Tolleson Private Wealth Management | $4,916.6 | 3,124 | $4,738.8 | 2,933 | $177.9 | 191 | 69 |
| 41 | Fiduciary Counselling Inc. | $4,776.8 | 1,410 | $2,376.3 | 1,202 | $2,400.5 | 208 | 73 |
| 42 | Adviser Investments | $4,722.3 | 10,287 | $4,651.3 | 10,006 | $71.1 | 281 | 82 |
| 43 | Savant Capital Management | $4,671.6 | 4,147 | $4,671.6 | 4,147 | $0.0 | 0 | 136 |
| 44 | Ferguson Wellman Capital Management Inc. | $4,561.2 | 2,255 | $4,561.2 | 2,255 | $0.0 | 0 | 46 |
| 45 | Homrich Berg | $4,499.7 | 6,132 | $4,129.7 | 6,011 | $370.0 | 121 | 79 |
| 46 | Finaccess Advisors | $4,354.2 | 140 | $0.0 | 0 | $4,354.2 | 140 | 12 |
| 47 | Wetherby Asset Management | $4,292.0 | 3,506 | $4,089.0 | 3,417 | $203.0 | 89 | 65 |
| 48 | Seven Bridges Advisors | $4,254.6 | 126 | $1,947.0 | 20 | $2,307.6 | 106 | 22 |
| 49 | Welch & Forbes | $4,244.5 | 2,635 | $3,958.8 | 2,540 | $285.8 | 95 | 52 |
| 50 | Seven 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 |
| 1 | Adviser Investments | 125% | $4,722.3 | 10,287 | $4,651.3 | 10,006 | $71.1 | 281 | 82 |
| 2 | Personal Capital Advisors Corp | 90% | $4,037.7 | 11,398 | $4,037.7 | 11,398 | $0.0 | 0 | |
| 3 | Tiedemann Wealth Management | 68% | $8,224.7 | 438 | $5,313.2 | 337 | $2,911.6 | 101 | 60 |
| 4 | Boston Financial Management | 62% | $1,944.9 | 2,016 | $1,890.5 | 1,995 | $54.4 | 21 | 43 |
| 5 | Buckhead Capital Management | 49% | $1,182.3 | 172 | $925.8 | 158 | $256.6 | 14 | 12 |
| 6 | Delegate Advisors | 46% | $1,768.0 | 502 | $131.7 | 47 | $1,636.3 | 455 | 11 |
| 7 | Lake Street Advisors | 46% | $2,658.2 | 1,554 | $909.4 | 651 | $1,748.8 | 903 | 29 |
| 8 | Regis Management Co. | 45% | $2,081.3 | 47 | $2,081.3 | 47 | $0.0 | 0 | |
| 9 | RMB Capital Management | 43% | $5,222.1 | 12,323 | $4,632.6 | 10,084 | $589.5 | 2,239 | 124 |
| 10 | Century Management | 38% | $1,416.7 | 1,189 | $1,416.7 | 1,189 | $0.0 | 0 | |
| 11 | Exencial Wealth Advisors | 38% | $1,814.7 | 3,006 | $1,588.9 | 2,984 | $225.8 | 22 | 57 |
| 12 | Arlington Partners | 37% | $1,527.8 | 585 | $930.9 | 512 | $596.9 | 73 | 20 |
| 13 | Cookson Peirce Wealth Management | 33% | $1,119.1 | 655 | $1,119.1 | 655 | $0.0 | 0 | |
| 14 | Parallel Advisors | 33% | $1,377.4 | 5,212 | $1,377.4 | 5,212 | $0.0 | 0 | |
| 15 | Kayne Anderson Rudnick | 33% | $12,775.2 | 19,454 | $10,720.3 | 12,559 | $2,054.9 | 6,895 | 86 |
| 16 | Reilly Financial Advisors | 32% | $1,023.6 | 3,671 | $966.4 | 3,417 | $57.2 | 254 | 34 |
| 17 | BakerAvenue | 31% | $1,155.1 | 1,358 | $863.4 | 1,317 | $291.7 | 41 | 19 |
| 18 | New England Private Wealth Advisors | 31% | $1,552.9 | 2,272 | $1,076.2 | 1,927 | $476.7 | 345 | 16 |
| 19 | Orgel Wealth Management | 31% | $3,964.9 | 7,049 | $3,256.2 | 6,988 | $708.7 | 61 | 40 |
| 20 | Columbia Pacific Wealth Management | 28% | $2,582.0 | 774 | $1,447.8 | 296 | $1,134.2 | 478 | 24 |
| 21 | PagnatoKarp Partners | 28% | $1,513.6 | 2,052 | $1,512.0 | 2,045 | $1.6 | 7 | |
| 22 | Hartland & Co. | 28% | $3,226.6 | 2,645 | $2,494.8 | 1,827 | $731.9 | 818 | 69 |
| 23 | RTD Financial Advisors Inc. | 28% | $1,250.2 | 565 | $1,218.5 | 550 | $31.6 | 15 | 30 |
| 24 | Huber Financial | 27% | $1,220.5 | 4,372 | $1,032.8 | 3,132 | $187.7 | 1,240 | 19 |
| 25 | WE Family Offices | 26% | $5,341.6 | 70 | $0.0 | 0 | $5,341.6 | 70 | 43 |
Top fee-only RIAs by state
States where fee-only RIAs are headquartered, ranked by total assets
| Total assets ($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 [email protected] for more information. Source: InvestmentNews Data
Learn more about reprints and licensing for this article.
