| Rank | State | # of fee-only RIAs | Total assets ($M) | Discretionary assets ($M) | Nondiscretionary assets ($M) |
|---|---|---|---|---|---|
| 1 | California | 276 | $179,057.0 | $132,551.4 | $46,505.5 |
| 2 | New York | 157 | $87,985.8 | $56,945.1 | $31,040.7 |
| 3 | Massachussetts | 98 | $53,226.8 | $37,703.9 | $15,523.0 |
| 4 | Ohio | 73 | $41,651.0 | $34,357.4 | $7,293.6 |
| 5 | Texas | 96 | $33,278.2 | $26,891.3 | $6,386.9 |
| 6 | Illinois | 83 | $32,294.3 | $24,701.5 | $7,592.8 |
| 7 | Pennsylvania | 80 | $31,840.9 | $23,321.6 | $8,519.3 |
| 8 | Georgia | 58 | $26,804.5 | $22,212.0 | $4,592.5 |
| 9 | Maryland* | 53 | $26,733.3 | $23,838.4 | $2,894.9 |
| 10 | Washington | 57 | $25,546.8 | $18,762.2 | $6,784.6 |
| 11 | Virginia | 75 | $22,372.6 | $18,529.0 | $3,843.6 |
| 12 | Connecticut | 42 | $18,961.5 | $16,310.1 | $2,651.4 |
| 13 | Florida | 81 | $18,727.2 | $15,537.5 | $3,189.7 |
| 14 | Indiana | 31 | $17,862.7 | $6,798.4 | $11,064.3 |
| 15 | New Jersey | 53 | $17,239.5 | $11,839.9 | $5,399.7 |
| 16 | Minnesota | 34 | $16,072.9 | $11,034.4 | $5,038.5 |
| 17 | Michigan | 57 | $13,980.4 | $11,680.9 | $2,299.5 |
| 18 | North Carolina | 43 | $12,759.6 | $10,290.3 | $2,469.3 |
| 19 | Colorado | 50 | $12,509.8 | $10,290.7 | $2,219.1 |
| 20 | Wisconsin | 34 | $11,526.4 | $9,976.5 | $1,549.8 |
| 21 | Oregon | 26 | $10,232.6 | $9,035.6 | $1,197.0 |
| 22 | Missouri | 23 | $8,864.7 | $4,605.0 | $4,259.6 |
| 23 | Tennessee | 33 | $7,181.5 | $6,170.9 | $1,010.7 |
| 24 | Arizona | 35 | $6,538.8 | $5,678.1 | $860.7 |
| 25 | Kansas | 17 | $6,514.6 | $5,995.8 | $518.8 |
| 26 | Maine | 8 | $4,665.3 | $4,526.8 | $138.5 |
| 27 | Alabama | 11 | $3,855.2 | $2,784.2 | $1,071.0 |
| 28 | Arkansas | 9 | $3,678.0 | $3,573.9 | $104.1 |
| 29 | Louisiana | 17 | $3,481.0 | $2,311.3 | $1,169.8 |
| 30 | Oklahoma | 14 | $3,306.8 | $2,699.4 | $607.4 |
| 31 | Vermont | 6 | $2,821.2 | $2,517.6 | $303.6 |
| 32 | Rhode Island | 7 | $2,771.7 | $2,544.9 | $226.7 |
| 33 | Alaska | 3 | $2,673.7 | $2,665.5 | $8.2 |
| 34 | South Carolina | 18 | $2,498.1 | $2,122.9 | $375.3 |
| 35 | New Hampshire | 15 | $2,004.7 | $1,907.3 | $97.4 |
| 36 | Mississippi | 7 | $1,775.0 | $1,178.6 | $596.3 |
| 37 | New Mexico | 6 | $1,754.3 | $1,050.7 | $703.6 |
| 38 | Utah | 11 | $1,723.5 | $1,276.1 | $447.5 |
| 39 | Iowa | 5 | $1,721.2 | $1,637.0 | $84.2 |
| 40 | Nebraska | 7 | $1,605.3 | $1,434.5 | $170.7 |
| 41 | Kentucky | 6 | $1,189.1 | $852.9 | $336.2 |
| 42 | Delaware | 5 | $1,169.7 | $979.9 | $189.8 |
| 43 | West Virginia | 4 | $971.4 | $853.3 | $118.0 |
| 44 | Idaho | 5 | $698.9 | $526.0 | $172.9 |
| 45 | Montana | 1 | $685.1 | $82.4 | $602.7 |
| 46 | Hawaii | 4 | $685.0 | $508.7 | $176.3 |
| 47 | Nevada | 6 | $565.6 | $415.3 | $150.2 |
| 48 | Wyoming | 9 | $413.0 | $389.5 | $23.5 |
| 49 | South Dakota | 1 | $141.1 | $128.8 | $12.3 |
| 50 | North Dakota | 1 | $90.3 | $71.1 | $19.2 |
| Total | 1,851 | $786,707.5 | $594,096.6 | $192,610.9 |
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