Phoenix has become one of the fastest growing wealth hubs in the country, attracting a wave of independent RIAs serving high net worth families, entrepreneurs, and retirees across the Southwest. The data in this ranking reflects the most recent updates available in AdvizorPro as of October 20, 2025, capturing the latest insights on firm growth and market dynamics. This list highlights the top 10 independent firms making an impact, those known for strong client relationships, innovative planning strategies, and fiduciary excellence in one of the nation’s most dynamic advisory markets.

1. Foundations Investment Advisors – $7.1B AUM

Foundations Investment Advisors (FIWealth) is an SEC registered independent RIA founded in 2015 that combines institutional level investment management with personalized service to support both advisors and clients. With more than $7 billion in assets under management, they continue to prioritize growth, innovation, and empowering fiduciary advisors with robust infrastructure and resources.

Key Insights:

• Has 50.5% of assets with high net worth individuals
• Works with platforms including GeoWealth and Orion
• 20 advisory teams
• Lists 80.8% of SMA assets with Charles Schwab & Company
• Offers asset management, business succession, and estate planning
• Advisory clients increased from 24,019 to 25,166
• Total AUM increased 7.1% ($6.7B to $7.18B)

2. Ashton Thomas Private Wealth – $4B AUM

Ashton Thomas Private Wealth is a diversified financial advisory and wealth management firm delivering holistic solutions in planning, investment, tax, estate, family office, and banking. As part of Arax Investment Partners, it leverages strategic partnerships and advanced platforms to expand access to alternative and structured investments while maintaining a high touch client experience.

Key Insights:

• Experienced 88.5% AUM growth compared to $1B+ RIA peers with 40% average growth
• Has 83.1% of assets with high net worth individuals
• Works with platforms including Ameriprise, AssetMark, Black Diamond, eMoney, and JP Morgan
• Offers asset management, business succession, and charitable giving
• Advisory clients increased from 2,153 to 2,569
• Total AUM increased 40.1% ($2.89B to $4.05B)

3. PFG Advisors – $3B AUM

PFG Advisors helps individuals and businesses accumulate and preserve wealth through customized investment, retirement, and estate strategies. The firm also supports small and midsized businesses with retirement plan and corporate financial solutions. PFG’s model emphasizes trust, transparency, and long term partnerships with clients.

Key Insights:

• Has 50.1% of assets with high net worth individuals
• Works with platforms including AssetMark, eMoney, Orion, OSAIC, and Wealth.com
• 13 advisory teams
• Lists 83.5% of SMA assets with Charles Schwab & Company
• Offers 529 plans, asset management, and business succession
• Total AUM increased 8.9% ($2.83B to $3.08B)

4. Trek Financial – $2.4B AUM

Trek Financial is an independent fiduciary RIA offering personalized wealth management and planning solutions for individuals, families, and businesses. The firm’s goal based approach helps clients achieve their financial ambitions through disciplined, transparent, and client centered strategies.

Key Insights:

• Has 54.6% of assets with high net worth individuals
• Works with platforms including Adhesion, CAIS, eMoney, Envestnet, iCapital, and JP Morgan
• Lists 100% of SMA assets with Charles Schwab & Company
• Offers asset management, business succession, and charitable giving
• Total AUM increased 10.3% ($2.26B to $2.49B)

5. Verus Capital Partners – $2B AUM

Verus Capital Partners is a Scottsdale based fiduciary advisory firm offering tailored planning, retirement income, and tax efficient strategies. They emphasize a values based philosophy rooted in transparency and faith, building lasting client relationships focused on truth and service.

Key Insights:

• Experienced 84.6% AUM growth compared to $1B+ RIAs with 32% average growth
• Has 66.7% of assets with high net worth individuals
• Works with platforms including eMoney
• Lists 78.9% of SMA assets with LPL Financial
• Offers asset management, charitable giving, and college planning
• Total AUM increased 32.1% ($1.56B to $2.07B)

6. Trajan Wealth – $1.9B AUM

Trajan Wealth is a national fiduciary advisory firm founded by a U.S. Marine Corps veteran, offering integrated services in wealth management, retirement planning, and tax aware estate strategies. The firm operates under a transparent fee structure with a focus on discipline, integrity, and service.

Key Insights:

• Experienced 89.9% AUM growth compared to $1B+ RIAs with 44% average growth
• Has 76.6% of assets with individuals
• Works with platforms including JP Morgan and Orion
• Lists 96.5% of SMA assets with Charles Schwab & Company
• Offers asset management, charitable giving, and college planning
• Total AUM increased 44.3% ($1.36B to $1.97B)

7. L. Roy Papp & Associates – $1.5B AUM

L. Roy Papp & Associates is an independently owned RIA specializing in conservative, research driven portfolio management for high net worth and institutional clients. Founded over 30 years ago, the firm focuses on fiduciary care, tax conscious investing, and multi generational wealth strategies.

Key Insights:

• Has 78.6% of assets with high net worth individuals
• Works with platforms including Tamarac
• Lists 100% of SMA assets with Charles Schwab & Company
• Offers business succession, charitable giving, and financial planning
• Total AUM increased 7.8% ($1.42B to $1.53B)

8. Ironwood Investment Counsel – $1.5B AUM

Ironwood Investment Counsel is a fee only RIA based in Scottsdale, Arizona, serving individuals, families, foundations, and institutions. The firm emphasizes disciplined wealth management and tax aware portfolio construction, integrating estate and financial planning into every client relationship.

Key Insights:

• Has 81.7% of assets with high net worth individuals
• Works with platforms including AssetMark and Tamarac
• Lists 77.6% of SMA assets with Charles Schwab & Company
• Offers 529 plans
• Total AUM increased 7.9% ($1.4B to $1.51B)

9. Total Investment Management – $1.2B AUM

Total Investment Management (TIMGT) is a Scottsdale based firm helping clients, including aviation professionals, design portfolios tailored to risk tolerance and life goals. Their focus on long term planning and disciplined model portfolios supports clients through every financial stage.

Key Insights:

• Has 64.9% of assets with high net worth individuals
• Works with platforms including Envestnet MoneyGuide
• Lists 80.6% of SMA assets with Charles Schwab & Company
• Offers 529 plans
• Total AUM increased 7.2% ($1.19B to $1.28B)

10. Galvin, Gaustad & Stein – $1.2B AUM

Galvin, Gaustad & Stein (GGS Advisors) is a fiduciary RIA offering customized asset management and financial planning strategies. They blend quantitative screening with qualitative analysis to deliver objective, long term solutions within a transparent fee only structure.

Key Insights:

• Has 81% of assets with high net worth individuals
• Lists 100% of SMA assets with Fidelity/Nfs
• Offers 529 plans, asset management, and charitable giving
• Total AUM increased 2.7% ($1.19B to $1.22B)

The Growth of Phoenix’s Wealth Management Market

Phoenix continues to attract entrepreneurial advisory firms and independent financial talent from across the country. Many of these firms are scaling through innovative affiliation models, technology adoption, and a growing client base of high net worth individuals relocating to Arizona.

For additional regional insights, explore our coverage of the Top Independent RIAs in Chicago and Top Independent RIAs in Houston. Each market reveals how local dynamics, advisor migration, and custodial trends are shaping the national RIA landscape.

AdvizorPro’s AI powered search enables asset managers, fintech companies, and recruiters to uncover high growth advisory firms and surface top RIAs by AUM, custodian, or strategy in seconds. With firm level intelligence, advisor movement tracking, and data driven insights, AdvizorPro helps teams identify the right firms at the right time and build efficient, targeted outreach strategies.

Discover how AdvizorPro can help you identify and connect with the fastest growing advisory firms nationwide. Start your free trial today.

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