RIA Rundown: By the Numbers

RIA Rundown: By the Numbers
<i>InvestmentNews'</i>exclusive rankings of the top fee-only registered investment advisory firms
JUN 03, 2017
By  Ellie Zhu

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

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