Top fee-only RIAs in 2023
Here's a list of the biggest fee-only registered investment advisors, based on the data firms report to the SEC on their Form ADV.
Top fee-only RIAs 2023
Rank | Firm | City |
Total
|
Discretionary
|
Nondiscretionary
|
Employees | |||
---|---|---|---|---|---|---|---|---|---|
Assets ($M) | Accounts | Assets ($M) | Accounts | Assets ($M) | Accounts | ||||
1 | Cambridge Associates, LLC | Boston, MA | 276031 | 586 | 78909 | 182 | 197122 | 404 | 1154 |
2 | Fisher Asset Management, LLC | Plano, TX | 192398 | 269289 | 192398 | 269289 | 3349 | ||
3 | Hall Capital Partners LLC | San Francisco, CA | 46676 | 187 | 20520 | 90 | 26156 | 97 | 203 |
4 | Jasper Ridge Partners, L.P. | Fort Worth, TX | 33066 | 51 | 33021 | 50 | 45 | 1 | 109 |
5 | Moneta Group Investment Advisors, LLC | St. Louis, MO | 30651 | 37339 | 18845 | 16306 | 11806 | 21033 | 460 |
6 | Silvercrest Asset Management Group LLC | New York, NY | 28905 | 1289 | 20851 | 1266 | 8054 | 23 | 154 |
7 | Pathstone Family Office, LLC | Englewood, NJ | 24836 | 18943 | 16476 | 11728 | 8360 | 7215 | 297 |
8 | BBR Partners, LLC | New York, NY | 24082 | 4300 | 21909 | 4200 | 2173 | 100 | 165 |
9 | IEQ Capital, LLC | Foster City, CA | 18536 | 1124 | 17720 | 1095 | 815 | 29 | 120 |
10 | Bahl & Gaynor Inc | Cincinnati, OH | 17458 | 2711 | 17117 | 2663 | 341 | 48 | 41 |
11 | EP Wealth Advisors, LLC. | Torrance, CA | 17057 | 32050 | 16831 | 31600 | 226 | 450 | 375 |
12 | Savant Capital, LLC | Rockford, IL | 17005 | 10992 | 17005 | 10992 | 333 | ||
13 | Comprehensive Financial Management LLC | Los Gatos, CA | 16572 | 29 | 16572 | 29 | 34 | ||
14 | Johnson Investment Counsel, Inc. | Cincinnati, OH | 16314 | 14346 | 16130 | 14323 | 184 | 23 | 131 |
15 | Oxford Financial Group, Ltd | Carmel, IN | 15588 | 5947 | 6537 | 4531 | 9051 | 1416 | 159 |
16 | Jordan Park Group LLC | San Francisco, CA | 13733 | 3757 | 13733 | 3757 | 121 | ||
17 | Aspiriant, LLC | Los Angeles, CA | 13118 | 10745 | 10540 | 8211 | 2578 | 2534 | 197 |
18 | Lido Advisors, LLC | Los Angeles, CA | 13102 | 12641 | 12643 | 12459 | 460 | 182 | 191 |
19 | Financial Counselors Inc | Overland Park, KS | 12844 | 13818 | 11673 | 12890 | 1171 | 928 | 67 |
20 | HB Wealth Management, LLC | Atlanta, GA | 12528 | 15429 | 10833 | 15279 | 1696 | 150 | 171 |
21 | Appleton Partners, Inc. | Boston, MA | 12143 | 6827 | 12143 | 6827 | 58 | ||
22 | W.E. Family Offices, LLC | Miami, FL | 12056 | 106 | 12056 | 106 | 49 | ||
23 | Fiduciary Counselling Inc | St Paul, MN | 11564 | 1667 | 3258 | 1446 | 8306 | 221 | 84 |
24 | Evoke Wealth, LLC | Los Angeles, CA | 10205 | 8511 | 9904 | 7777 | 301 | 734 | 46 |
25 | Loring, Wolcott & Coolidge Fiduciary Advisors, LLP | Boston, MA | 9688 | 3288 | 9624 | 3276 | 64 | 12 | 104 |
26 | Brighton Jones LLC | Seattle, WA | 9458 | 2681 | 9375 | 2676 | 83 | 5 | 224 |
27 | Ballentine Partners, LLC | Waltham, MA | 9287 | 5764 | 7046 | 3344 | 2241 | 2420 | 89 |
28 | Gryphon Advisors, LLC | San Francisco, CA | 8992 | 19 | 8992 | 19 | 138 | ||
29 | The Mather Group, LLC | Chicago, IL | 8719 | 16761 | 7832 | 12123 | 887 | 4638 | 167 |
30 | CV Advisors LLC | Aventura, FL | 8415 | 1806 | 529 | 179 | 7886 | 1627 | 45 |
31 | Tag Associates LLC | New York, NY | 8071 | 1263 | 310 | 98 | 7762 | 1165 | 73 |
32 | Mill Creek Capital Advisors, LLC | Conshohocken, PA | 7876 | 385 | 7803 | 383 | 73 | 2 | 39 |
33 | Smith Shellnut Wilson LLC | Ridgeland, MS | 7758 | 649 | 1098 | 599 | 6661 | 50 | 15 |
34 | Churchill Management Corp | Los Angeles, CA | 7150 | 19055 | 7027 | 18004 | 123 | 1051 | 59 |
35 | Ferguson Wellman Capital Management, Inc. | Portland, OR | 7146 | 3808 | 7146 | 3808 | 55 | ||
36 | Valeo Financial Advisors, LLC | Carmel, IN | 7104 | 15757 | 5491 | 11639 | 1612 | 4118 | 161 |
37 | Modera Wealth Management, LLC | Westwood, NJ | 6801 | 10050 | 6755 | 9951 | 46 | 99 | 111 |
38 | Seven Post Investment Office Lp | San Francisco, CA | 6745 | 212 | 6438 | 202 | 308 | 10 | 21 |
39 | CPWM, LLC | Seattle, WA | 6692 | 6489 | 5345 | 5081 | 1348 | 1408 | 44 |
40 | Signature Financial Management Inc. | Norfolk, VA | 6607 | 1888 | 6361 | 1782 | 246 | 106 | 45 |
41 | Pinnacle Associates, Ltd. | New York, NY | 6595 | 5378 | 6595 | 5378 | 58 | ||
42 | Circle Wealth Management, LLC | Summit, NJ | 6551 | 1235 | 1469 | 596 | 5082 | 639 | 16 |
43 | Wetherby Asset Management LLC | San Francisco, CA | 6531 | 3790 | 6253 | 3660 | 278 | 130 | 89 |
44 | Sapient Capital LLC | Indianapolis, IN | 6529 | 3828 | 5143 | 3072 | 1385 | 756 | 35 |
45 | Ropes Wealth Advisors LLC | Boston, MA | 6468 | 3632 | 6220 | 3573 | 248 | 59 | 41 |
46 | Adviser Investments LLC | Newton, MA | 6418 | 11734 | 6418 | 11733 | 0 | 1 | 109 |
47 | Prowell Financial Management, LLC | Exton, PA | 6407 | 271 | 946 | 205 | 5461 | 66 | 4 |
48 | Orgel Wealth Management, LLC | Altoona, WI | 6255 | 9697 | 6253 | 9695 | 2 | 2 | 75 |
49 | H. M. Payson & Co. | Portland, ME | 6183 | 3724 | 5732 | 3522 | 451 | 202 | 32 |
50 | Coho Partners, Ltd. | Berwyn, PA | 6165 | 1323 | 6165 | 1323 | 33 | ||
Methodology: InvestmentNews qualified 3,023 firms headquartered in the United States based on data reported on Form ADV to the Securities and Exchange Commission. To qualify, firms must have met the following criteria: (1) latest ADV filing date is either on or after July 1, 2022, (2) total AUM is at least $100M, (3) does not have employees who are registered representatives of a broker-dealer, (4) managed assets for individual U.S. 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.
Learn more about reprints and licensing for this article.