Top fee-only RIAs by state
States where fee-only RIAs are headquartered, ranked by total assets.
| State/top 3 firms | # of fee-only RIAs | Total assets ($M)/market share | Discretionary assets ($M)/ market share |
Nondiscretionary assets ($M)/market share | |
|---|---|---|---|---|---|
| 1 | California | 343 | $501,079.6 | $444,786.3 | $56,293.3 |
| 1 | Financial Engines Advisors | 33.8% | 38.1% | 0.0% | |
| 2 | Hall Capital Partners | 7.3% | 2.4% | 45.8% | |
| 3 | Aperio Group | 4.8% | 5.4% | 0.0% | |
| 2 | New York | 127 | $192,365.5 | $144,464.1 | $47,901.4 |
| 1 | Silvercrest Asset Management Group | 11.1% | 11.1% | 11.2% | |
| 2 | Rockefeller & Co. Inc. | 8.2% | 10.7% | 0.6% | |
| 3 | BBR Partners | 7.4% | 8.5% | 4.1% | |
| 3 | Washington | 72 | $151,274.2 | $142,061.2 | $9,212.9 |
| 1 | Fisher Investments | 63.5% | 67.6% | 0.0% | |
| 2 | Brighton Jones | 3.3% | 3.4% | 0.9% | |
| 3 | Freestone Capital Management | 2.8% | 2.5% | 6.8% | |
| 4 | Massachusetts | 120 | $138,937.6 | $116,669.5 | $22,268.1 |
| 1 | Appleton Partners Inc. | 6.6% | 7.8% | 0.0% | |
| 2 | Boston Private Wealth | 5.3% | 6.0% | 2.1% | |
| 3 | Loring Wolcott & Coolidge Fiduciary Advisors | 5.2% | 6.0% | 0.9% | |
| 5 | Illinois | 92 | $95,235.9 | $69,256.8 | $25,979.2 |
| 1 | Brownson Rehmus & Foxworth Inc. | 11.8% | 0.0% | 43.3% | |
| 2 | RMB Capital Management | 8.6% | 10.8% | 3.0% | |
| 3 | Gresham Partners, LLC | 7.3% | 6.1% | 10.5% | |
| 6 | Texas | 124 | $83,638.4 | $73,934.8 | $9,703.6 |
| 1 | Jasper Ridge Partners | 22.0% | 24.0% | 6.8% | |
| 2 | Tolleson Private Wealth Management | 6.7% | 7.3% | 2.0% | |
| 3 | RGT Wealth Advisors | 4.8% | 4.8% | 4.6% | |
| 7 | Virginia | 89 | $75,426.6 | $68,203.2 | $7,223.4 |
| 1 | Edelman Financial Services | 28.8% | 31.9% | 0.0% | |
| 2 | Signature Family Wealth Advisors | 5.8% | 6.5% | 0.0% | |
| 3 | Sullivan Bruyette Speros & Blayney | 4.6% | 5.0% | 0.5% | |
| 8 | Ohio | 82 | $74,293.2 | $65,602.4 | $8,690.8 |
| 1 | Bahl & Gaynor Inc. | 15.4% | 16.1% | 9.9% | |
| 2 | Johnson Investment Counsel Inc. | 14.0% | 15.9% | 0.0% | |
| 3 | Bartlett & Co. | 5.6% | 6.2% | 0.6% | |
| 9 | Pennsylvania | 86 | $67,802.4 | $60,958.1 | $6,844.3 |
| 1 | Veritable | 23.1% | 25.0% | 6.2% | |
| 2 | Mill Creek Capital Advisors | 8.6% | 8.5% | 8.9% | |
| 3 | Miller Investment Management | 4.4% | 2.4% | 22.0% | |
| 10 | Maryland | 52 | $56,840.9 | $53,094.1 | $3,746.8 |
| 1 | Chevy Chase Trust Co. | 52.8% | 56.5% | 0.0% | |
| 2 | WMS Partners | 7.3% | 5.7% | 30.0% | |
| 3 | Heritage Investors Management Corp. | 4.4% | 4.6% | 0.5% | |
| 11 | Florida | 84 | $56,398.9 | $36,555.5 | $19,843.4 |
| 1 | WE Family Offices | 13.1% | 0.0% | 37.2% | |
| 2 | Global Financial Private Capital | 10.3% | 15.8% | 0.0% | |
| 3 | CV Advisors | 9.9% | 1.5% | 25.4% | |
| 12 | Missouri | 26 | $48,402.3 | $30,164.9 | $18,237.5 |
| 1 | Moneta Group Investment Advisors | 38.2% | 22.7% | 63.9% | |
| 2 | Buckingham Strategic Wealth | 25.4% | 39.8% | 1.6% | |
| 3 | Plancorp | 8.3% | 12.7% | 1.0% | |
| 13 | New Jersey | 70 | $43,865.4 | $32,001.0 | $11,864.3 |
| 1 | Pathstone Federal Street | 19.5% | 10.0% | 45.1% | |
| 2 | RegentAtlantic | 8.6% | 11.5% | 0.8% | |
| 3 | Massey Quick & Co. | 6.9% | 5.9% | 9.7% | |
| 14 | Georgia | 61 | $39,417.9 | $32,983.0 | $6,434.9 |
| 1 | Homrich Berg | 14.2% | 15.0% | 10.2% | |
| 2 | SignatureFD | 8.1% | 7.6% | 10.2% | |
| 3 | Balentine | 6.3% | 5.3% | 11.4% | |
| 15 | Connecticut | 45 | $31,028.0 | $27,453.2 | $3,574.8 |
| 1 | Symmetry Partners | 14.1% | 15.9% | 0.0% | |
| 2 | Chilton Investment Services | 12.7% | 14.2% | 1.2% | |
| 3 | Bradley Foster & Sargent Inc. | 11.6% | 12.8% | 1.9% | |
| 16 | Michigan | 55 | $30,872.3 | $25,809.2 | $5,063.1 |
| 1 | Zhang Financial | 9.0% | 5.0% | 29.5% | |
| 2 | Advance Capital Management Inc. | 8.4% | 10.0% | 0.5% | |
| 3 | Brick Capital Management Inc. | 8.1% | 0.0% | 49.6% | |
| 17 | North Carolina | 57 | $26,662.1 | $22,932.3 | $3,729.8 |
| 1 | Parsec Financial Management Inc. | 9.6% | 10.5% | 4.1% | |
| 2 | Salem Investment Counselors Inc. | 6.0% | 6.9% | 0.0% | |
| 3 | Colony Family Offices | 5.4% | 6.1% | 0.8% | |
| 18 | Colorado | 61 | $25,094.9 | $20,110.8 | $4,984.2 |
| 1 | IWP Wealth Management | 6.6% | 0.4% | 31.8% | |
| 2 | Obermeyer Wood Investment Counsel | 6.2% | 7.8% | 0.0% | |
| 3 | Colorado Financial Management | 5.8% | 7.2% | 0.1% | |
| 19 | Minnesota | 45 | $24,569.4 | $20,879.3 | $3,690.1 |
| 1 | Fiduciary Counselling Inc. | 22.6% | 13.8% | 73.0% | |
| 2 | Accredited Investors Wealth Management | 7.9% | 8.9% | 2.1% | |
| 3 | Envoi LLC | 6.6% | 7.8% | 0.0% | |
| 20 | Wisconsin | 45 | $23,109.7 | $21,692.6 | $1,417.1 |
| 1 | Orgel Wealth Management | 18.4% | 19.6% | 0.0% | |
| 2 | North Star Asset Management Inc. | 7.0% | 7.4% | 1.9% | |
| 3 | Pegasus Partners | 6.0% | 5.9% | 6.5% |
InvestmentNews qualified 2,172 firms headquartered in the United States based on data reported on Form ADV to the Securities and Exchange Commission as of May 1, 2018. 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) not one who is an insurance company or agency.
Source: InvestmentNews Data. Visit data.InvestmentNews.com/ria for more-complete profiles and financials. Contact the InvestmentNews data team at [email protected] for more information.
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