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January 6, 2026

The Top 100 Independent RIAs 2026

$1.1 Trillion in combined AUM across the Top 100 RIAs

The Top 100 Independent RIAs 2026 is a data-backed independent RIA list highlighting the largest and most influential independent registered investment advisory firms in the United States.

This page is designed to do more than surface firm names. It provides context around how leading independent RIAs are structured, who they serve, how they are growing, and what differentiates them from one another in a rapidly evolving wealth management landscape.

Whether you are researching the independent RIA market, identifying potential partners, prioritizing firms for distribution, or analyzing competitive dynamics, this list offers a clear and practical snapshot of the firms shaping the industry today.

To explore deeper industry patterns alongside this ranking, we recommend pairing it with our Advisor Demographics Report 2025, which analyzes advisor backgrounds, firm structures, and growth trends across the broader RIA ecosystem.

What Qualifies as an Independent RIA?

An independent RIA is a registered investment advisory firm that operates without ownership or control from a wirehouse, bank, or insurance-affiliated broker-dealer. These firms are typically owned by their principals or employees and are registered directly with the SEC or applicable state regulators.

Independence influences nearly every aspect of how these firms operate. It affects investment flexibility, custodial relationships, fee structures, technology adoption, and long-term strategic decisions.

Because independent RIAs disclose detailed operational and ownership information through regulatory filings, they can be analyzed and compared using a comprehensive RIA database built from Form ADV data and related firm intelligence. This allows for more accurate benchmarking across firm size, structure, and client focus.

For inclusion in this list of the largest RIAs in the US, firms must:

Be registered with the SEC
Operate independently, without wirehouse or bank ownership
Serve primarily retail and high-net-worth clients
File publicly available Form ADV disclosures

This ensures the rankings reflect firms that truly represent the independent RIA model in the US.

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The Top 100 Independent RIAs 2026

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Top 100 Independent RIAs 2026 — Rows 1–50
Rank	Company Name	AUM	Clients - Individuals	Date Established	City	State	RIA Reps	Custodians
1	Fisher Investments	$298,729,428,900	73,976	03-26-1987	Plano	TX	2471	CHARLES SCHWAB & COMPANY ($75,975,533,654), FIDELITY/NFS ($65,383,038,411), NORTHERN TRUST, SEI
2	Savant Wealth Management	$37,127,688,152	12,904	01-22-1993	Rockford	IL	262	CHARLES SCHWAB & COMPANY ($20,636,657,391), FIDELITY/NFS ($4,077,396,176)
3	Ep Wealth Advisors	$35,570,000,000	13,050	04-16-1987	Torrance	CA	214	CHARLES SCHWAB & COMPANY ($18,000,000), FIDELITY/NFS ($4,500,000,000)
4	Corient	$143,628,532,902	7,423	03-01-2022	Miami	FL	494	BNY MELLON, BROADRIDGE, CHARLES SCHWAB & COMPANY ($48,308,076,145), FIDELITY/NFS ($34,422,048,864), FIDUCIARY TRUST, PERSHING, TD AMERITRADE
5	Waverly Advisors, Llc	$25,085,857,879	7,831	02-15-2000	Birmingham	AL	170	CHARLES SCHWAB & COMPANY ($14,777,788,791), FIDELITY/NFS ($4,078,987,155), NATIONAL ADVISORS TRUST
6	Wealthspire Advisors	$25,786,873,286	4,157	06-16-1995	New York	NY	170	CHARLES SCHWAB & COMPANY ($20,825,015,743), FIDELITY/NFS ($4,015,600,898)
7	Advisors Capital Management, Llc	$9,470,063,452	12,561	12-31-2002	Ridgewood	NJ	50	CHARLES SCHWAB & COMPANY ($1,235,546,811), FIDELITY/NFS ($2,172,972,055), LPL FINANCIAL ($818,868,855), MORGAN STANLEY
8	Moneta Group Investment Advisors, Llc	$42,795,577,115	2,686	06-30-1989	St. Louis	MO	220	CHARLES SCHWAB & COMPANY ($14,989,607,307), COMERICA BANK ($6,101,228,735)
9	Foundations Investment Advisors Llc	$7,184,472,288	20,474	03-26-2015	Phoenix	AZ	229	CHARLES SCHWAB & COMPANY ($3,750,368,270), FIDELITY/NFS ($890,385,138)
10	Rwa Wealth Partners	$17,255,241,142	2,719	01-20-2012	Boston	MA	69	CHARLES SCHWAB & COMPANY ($2,625,938,410), FIDELITY/NFS ($8,470,524,240), TD AMERITRADE
11	Hub Investment Partners, Llc	$8,979,977,344	3,471	04-01-2020	Austin	TX	83	BNY MELLON ($1,853,553,105), CHARLES SCHWAB & COMPANY ($4,682,656,860), FIDELITY/NFS ($998,797,623)
12	Farther	$7,523,810,877	5,457	06-01-2019	San Francisco	CA	151	CHARLES SCHWAB & COMPANY ($4,173,547,000), FIDELITY/NFS ($2,250,023,877)
13	Apella Wealth	$7,953,076,688	3,921	04-29-2014	West Hartford	CT	68	CHARLES SCHWAB & COMPANY ($4,518,440,999)
14	Annex Wealth Management, Llc	$6,945,737,689	6,178	09-24-2004	Brookfield	WI	0	CHARLES SCHWAB & COMPANY ($4,662,500,713), FIDELITY/NFS ($1,753,023,942), TD AMERITRADE
15	Modera Wealth Management, Llc	$15,510,482,152	2,646	11-16-2010	Westwood	NJ	121	CHARLES SCHWAB & COMPANY ($11,605,920,437), FIDELITY/NFS ($3,209,628,508), NATIONAL ADVISORS TRUST
16	Pure Financial Advisors, Llc	$8,023,229,867	3,193	10-22-2007	San Diego	CA	64	AXOS ($12,509,780), CHARLES SCHWAB & COMPANY ($4,264,275,119), FIDELITY/NFS ($3,506,342,595)
17	Johnson Investment Counsel, Inc.	$20,872,135,890	2,182	10-01-2001	Cincinnati	OH	62	CHARLES SCHWAB & COMPANY ($13,984,503,725), FIDELITY/NFS, US BANK ($3,869,148,168)
18	Parallel Advisors, Llc	$8,735,387,332	2,756	08-04-2006	San Francisco	CA	65	CHARLES SCHWAB & COMPANY ($2,988,929,478), FIDELITY/NFS ($4,603,241,844)
19	Forvis Mazars Wealth Advisors, Llc	$9,751,986,659	2,509	10-28-1999	Springfield	MO	78	CHARLES SCHWAB & COMPANY ($9,017,361,229), FIDELITY/NFS, TD AMERITRADE
20	Hb Wealth	$25,880,296,192	1,560	09-01-2021	Atlanta	GA	89	CHARLES SCHWAB & COMPANY ($13,818,464,039), FIDELITY/NFS ($2,288,663,177), PERSHING
21	Facet	$4,754,146,771	10,684	11-01-2016	Baltimore	MD	63	APEX ($2,933,581,031), CHARLES SCHWAB & COMPANY ($220,258,039), FIDELITY/NFS ($1,600,307,700)
22	Confluence Financial Partners	$5,454,175,362	3,624	04-05-2021	Mcmurray	PA	36	APEX, RAYMOND JAMES ($5,204,594,096)
23	The Mather Group, Llc	$11,710,038,016	1,622	02-18-2011	Chicago	IL	103	CHARLES SCHWAB & COMPANY ($5,100,853,794), FIDELITY/NFS ($6,484,421,825)
24	Orgel Wealth Management, Llc	$8,060,225,434	2,391	07-09-2013	Altoona	WI	31	BROADRIDGE, PERSHING ($6,684,886,373)
25	Advance Capital Management Inc	$4,504,447,556	5,545	08-01-1986	Southfield	MI	29	CAPITAL GROUP, CHARLES SCHWAB & COMPANY ($4,408,779,266)
26	Freestone Capital Management, Llc	$11,493,619,610	1,343	04-25-2008	Seattle	WA	60	BMO HARRIS, CHARLES SCHWAB & COMPANY ($8,678,675,069), FIDELITY/NFS
27	Allegheny Financial Group Ltd	$4,904,134,773	2,689	01-17-1977	Pittsburgh	PA	33	AMERICAN FUNDS, EMPOWER, FIDELITY/NFS ($5,080,452,834)
28	Retirement Planners Of America	$3,975,227,271	5,810	03-01-2011	Plano	TX	34	BNY MELLON, PERSHING ($3,890,639,062), TD AMERITRADE
29	Carnegie Investment Counsel	$6,520,130,588	1,795	04-30-2009	Pepper Pike	OH	42	CHARLES SCHWAB & COMPANY ($4,140,652,586), FIDELITY/NFS ($1,064,829,506)
30	Capital Advisors, Inc.	$6,146,880,645	1,663	09-18-1978	Tulsa	OK	36	CHARLES SCHWAB & COMPANY ($4,551,939,133), FIDELITY/NFS ($1,214,932,142), US BANK
31	Cx Institutional, Llc	$4,121,239,331	3,035	03-01-2018	Auburn	IN	68	CHARLES SCHWAB & COMPANY ($3,199,097,206), GOLDMAN SACHS, LPL FINANCIAL ($748,089,915)
32	The Retirement Planning Group, Llc	$4,008,879,250	2,765	01-16-2004	Leawood	KS	28	CHARLES SCHWAB & COMPANY ($2,385,125,248), FIDELITY/NFS ($225,588,660)
33	Fiduciary Counselling Inc	$9,504,938,311	1,032	12-07-1966	St Paul	MN	18	FIDELITY/NFS ($5,029,894,297)
34	Mainstay Capital Management, Llc	$4,663,966,411	1,962	11-14-2000	Grand Blanc	MI	16	CHARLES SCHWAB & COMPANY ($2,201,017,356), PERSHING ($10,205,481)
35	F L Putnam Investment Management Co.	$7,695,902,054	1,077	07-30-1984	Lynnfield	MA	55	CHARLES SCHWAB & COMPANY ($3,394,689,594), FIDELITY/NFS ($2,752,878,051), NORTHERN TRUST ($798,947,062)
36	R M Davis Inc	$7,267,414,894	1,190	06-30-1978	Portland	ME	20	CHARLES SCHWAB & COMPANY ($5,400,987,886), FIDELITY/NFS ($1,431,565,781)
37	Northrock Partners, Llc	$6,596,242,797	1,302	06-13-2013	Minneapolis	MN	44	CHARLES SCHWAB & COMPANY ($4,655,459,432), FIDELITY/NFS ($971,916,598), TD AMERITRADE, US BANK
38	Tci Wealth Advisors, Inc.	$4,527,183,704	1,868	08-30-1990	Tucson	AZ	39	ASSETMARK, CHARLES SCHWAB & COMPANY ($4,165,213,288)
39	Index Fund Advisors, Inc.	$5,329,171,931	1,405	09-27-1999	Irvine	CA	16	CHARLES SCHWAB & COMPANY ($3,922,582,260), FIDELITY/NFS, VANGUARD
40	Baltimore-washington Financial Advisors	$2,828,296,993	4,131	06-29-2012	Columbia	MD	11	CHARLES SCHWAB & COMPANY ($2,526,310,980), SEI
41	Visionary Wealth Advisors, Llc	$2,857,606,496	3,168	11-12-2013	St. Louis	MO	40	CHARLES SCHWAB & COMPANY ($1,423,014,929), FIDELITY/NFS, RAYMOND JAMES ($209,917,969)
42	Chicago Partners Investment Group Llc	$5,958,850,183	1,030	08-14-2008	Chicago	IL	50	BROADRIDGE, CHARLES SCHWAB & COMPANY ($4,910,481,881), FIDELITY/NFS ($979,038,658), TD AMERITRADE
43	Hamilton Capital	$4,381,851,944	1,414	06-17-1997	Columbus	OH	50	CHARLES SCHWAB & COMPANY ($3,996,911,344)
44	Zhang Financial	$7,176,436,236	938	01-12-2012	Portage	MI	20	CHARLES SCHWAB & COMPANY ($793,588,954), LPL FINANCIAL ($3,946,163,463), STATE STREET ($1,679,012,675)
45	Cain, Watters & Associates, Llc	$4,237,891,280	1,410	09-30-1991	Frisco	TX	71	CHARLES SCHWAB & COMPANY ($2,204,857,349), PERSHING, US BANK
46	North Star Asset Management Inc	$3,079,601,758	2,412	05-01-1996	Neenah	WI	0	CHARLES SCHWAB & COMPANY ($2,763,016,590)
47	Eversource Wealth Advisors, Llc	$3,954,297,526	1,418	01-01-2017	Birmingham	AL	40	BETTERMENT, CHARLES SCHWAB & COMPANY ($2,500,943,659), FIDELITY/NFS ($1,134,074,374)
48	Bill Few Associates, Inc.	$2,642,969,998	2,801	04-10-1987	Sewickley	PA	26	AMERICAN FUNDS, CHARLES SCHWAB & COMPANY, PERSHING ($2,535,252,208)
49	Truwealth Advisors, Llc	$2,535,697,292	3,020	07-17-2020	Metairie	LA	19	CHARLES SCHWAB & COMPANY ($228,475,001), FIDELITY/NFS ($2,307,222,291), LINCOLN FINANCIAL, TD AMERITRADE
50	Berger Financial Group	$2,500,753,183	3,346	05-01-2020	Plymouth	MN	40	CHARLES SCHWAB & COMPANY ($1,598,311,328)

Top 100 Independent RIAs 2026 — Rows 51–100
Rank	Company Name	AUM	Clients - Individuals	Date Established	City	State	RIA Reps	Custodians
51	Jfs Wealth Advisors, Llc	$4,005,129,294	1,343	02-01-2007	Hermitage	PA	0	CHARLES SCHWAB & COMPANY ($2,706,899,623), FIDELITY/NFS ($993,634,006)
52	Steelpeak Wealth, Llc	$3,439,042,634	1,524	09-10-2012	Woodland Hills	CA	31	CHARLES SCHWAB & COMPANY ($3,365,292,003), FIDELITY/NFS, INTERACTIVE BROKERS, TRADE-PMR
53	Vivaldi Capital Management Lp	$4,647,085,822	1,021	02-13-2012	Chicago	IL	31	CHARLES SCHWAB & COMPANY ($2,232,642,144), TD AMERITRADE
54	Bartlett & Co. Wealth Management Llc	$9,391,242,919	796	03-26-2018	Cincinnati	OH	33	CHARLES SCHWAB & COMPANY ($6,381,395,964), FIDELITY/NFS, FIFTH THIRD BANK ($1,095,538,091), VANGUARD
55	Valeo Financial Advisors, Llc	$10,639,940,975	767	05-28-2003	Carmel	IN	97	FIDELITY/NFS ($7,487,955,193)
56	Beaumont Financial Partners	$3,377,274,255	1,462	09-01-2022	Needham	MA	12	FIDELITY/NFS ($1,786,850,759)
57	Coastal Bridge Advisors	$4,595,660,113	960	12-01-2009	Westport	CT	22	FIDELITY/NFS ($1,205,774,397), PERSHING ($2,376,929,608)
58	Truepoint, Inc.	$5,391,465,030	860	10-25-1985	Cincinnati	OH	37	FIDELITY/NFS ($4,607,646,374)
59	Sym Financial Advisors	$4,879,622,399	920	05-15-1985	Winona Lake	IN	27	CHARLES SCHWAB & COMPANY ($3,346,335,446), FIDELITY/NFS ($823,548,872), NATIONAL ADVISORS TRUST
60	Foster Group, Inc.	$3,542,998,153	1,021	05-30-1991	West Des Moines	IA	48	BNY MELLON, CHARLES SCHWAB & COMPANY ($3,178,018,353), PERSHING
61	Howland Capital Management Llc	$3,322,697,821	1,046	02-09-1972	Boston	MA	11	CHARLES SCHWAB & COMPANY ($715,910,068), NATIONAL ADVISORS TRUST ($2,571,228,555)
62	The Burney Company	$3,136,984,434	1,063	09-18-1974	Reston	VA	27	CHARLES SCHWAB & COMPANY ($2,764,651,314)
63	Destination Wealth Management	$4,145,050,618	883	10-11-1996	Walnut Creek	CA	34	CHARLES SCHWAB & COMPANY ($4,049,691,537), FIDELITY/NFS
64	Brighton Jones Llc	$14,987,100,484	635	01-03-2000	Seattle	WA	159	FIDELITY/NFS ($13,440,913,450)
65	Donaldson Capital Management Llc	$3,096,851,374	1,011	02-10-1995	Evansville	IN	41	CHARLES SCHWAB & COMPANY ($2,599,006,646)
66	Abacus Wealth Partners	$3,270,847,563	953	01-02-2004	Santa Monica	CA	36	BANK OF AMERICA, BETTERMENT, CHARLES SCHWAB & COMPANY ($634,421,527), FIDELITY/NFS
67	Tom Johnson Investment Management, Llc	$1,628,875,708	4,198	02-18-1992	Oklahoma City	OK	6	CHARLES SCHWAB & COMPANY ($552,705,304), FIDELITY/NFS ($616,416,458), PERSHING ($162,568,691)
68	Aspiriant, Llc	$15,532,934,000	614	04-08-2008	Los Angeles	CA	74	CHARLES SCHWAB & COMPANY ($13,795,809,000)
69	Steele Capital Management, Inc.	$3,030,626,319	964	11-17-1995	Dubuque	IA	11	CHARLES SCHWAB & COMPANY ($3,030,447,419), JACKSON NATIONAL LIFE, MATRIX TRUST, TD AMERITRADE
70	Everhart Advisors	$1,874,701,457	2,530	12-21-1995	Dublin	OH	26	CHARLES SCHWAB & COMPANY ($468,419,003), SEI ($925,316,019)
71	Mckinley Carter Wealth Services, Inc.	$2,532,619,554	1,141	08-04-2005	Wheeling	WV	33	CHARLES SCHWAB & COMPANY ($1,025,849,259), FIDELITY/NFS ($1,029,392,068)
72	Bragg Financial Advisors Inc	$3,904,367,607	799	01-01-1996	Charlotte	NC	15	CHARLES SCHWAB & COMPANY ($387,691,888), PERSHING ($2,708,997,304)
73	California Financial Advisors	$2,001,685,989	1,484	02-18-1998	San Ramon	CA	11	CHARLES SCHWAB & COMPANY ($1,276,739), FIDELITY/NFS
74	Capita Financial Network, Llc	$1,849,625,913	2,103	02-08-2018	Draper	UT	22	CHARLES SCHWAB & COMPANY ($1,826,499,611), FIDELITY/NFS ($23,126,302)
75	Phillips And Company Advisors Llc	$2,276,351,775	1,295	02-01-1992	Portland	OR	14	CHARLES SCHWAB & COMPANY, PERSHING ($1,094,565,965)
76	Henssler Financial	$3,403,216,968	837	08-24-1990	Kennesaw	GA	22	CHARLES SCHWAB & COMPANY ($2,776,967,511)
77	Cobblestone Capital Advisors, Llc	$2,933,920,535	922	05-08-1998	Rochester	NY	23	BANK OF AMERICA, CHARLES SCHWAB & COMPANY ($2,253,667,577), FIDELITY/NFS, JP MORGAN
78	Signaturefd, Llc	$8,331,600,262	593	06-01-1997	Atlanta	GA	36	CHARLES SCHWAB & COMPANY ($5,232,335,403), FIDELITY/NFS ($1,984,849,427)
79	Ellenbecker Investment Group	$1,731,276,641	1,563	12-02-2014	Waukesha	WI	16	CHARLES SCHWAB & COMPANY ($1,730,550,355)
80	Moran Wealth Management, Llc	$5,093,086,147	635	11-01-2021	Naples	FL	37	BROADRIDGE, INTERACTIVE BROKERS, PERSHING ($5,178,773,476)
81	David Vaughan Investments, Llc	$4,930,082,357	636	03-17-1977	Peoria	IL	21	CHARLES SCHWAB & COMPANY ($4,168,611,588), TD AMERITRADE
82	Linscomb Wealth, Inc.	$4,566,838,983	654	04-28-1995	Houston	TX	22	CHARLES SCHWAB & COMPANY ($2,776,985,843), FIDELITY/NFS ($1,633,153,314)
83	Blbb Advisors	$2,739,761,758	802	03-08-2006	Montgomeryville	PA	13	CHARLES SCHWAB & COMPANY, FIDELITY/NFS ($351,678,054), PERSHING ($1,758,831,607), TRADE-PMR ($296,227,610)
84	The Welch Group, Llc	$3,212,010,865	742	06-28-1991	Birmingham	AL	24	CHARLES SCHWAB & COMPANY ($3,171,113,128), NATIONAL ADVISORS TRUST
85	Empirical Wealth Management	$6,701,226,120	579	06-18-2010	Seattle	WA	60	CHARLES SCHWAB & COMPANY ($6,674,671,714), TD AMERITRADE
86	Plancorp, Llc	$7,294,144,052	571	01-14-1984	Saint Louis	MO	39	CHARLES SCHWAB & COMPANY ($5,410,273,325), FIDELITY/NFS ($1,514,451,784), TD AMERITRADE
87	Wealthquest Corporation	$1,932,422,881	1,031	08-17-2006	Cincinnati	OH	13	CHARLES SCHWAB & COMPANY ($1,775,519,177), TD AMERITRADE, TRANSAMERICA
88	Salem Investment Counselors Inc	$3,844,773,011	671	04-02-1979	Winston Salem	NC	10	CHARLES SCHWAB & COMPANY ($3,520,507,243), WELLS FARGO
89	Advocacy Wealth Management, Llc	$2,084,296,352	926	08-22-2007	Atlanta	GA	17	FIDELITY/NFS ($928,501,040), RELIANCE TRUST COMPANY ($1,147,847,517)
90	Bogart Wealth, Llc	$2,679,926,911	702	06-02-2016	Mclean	VA	20	BROADRIDGE, CHARLES SCHWAB & COMPANY ($2,679,926,911)
91	Legacy Wealth Management Inc	$2,358,678,962	786	12-23-1982	Memphis	TN	14	CHARLES SCHWAB & COMPANY ($1,116,804,868), FIDELITY/NFS ($758,190,783)
92	Westmount Partners, Llc	$5,202,679,011	553	10-19-2011	Los Angeles	CA	25	BROADRIDGE, CHARLES SCHWAB & COMPANY ($3,748,068,718), FIDELITY/NFS
93	Compass Financial Group, Inc	$1,225,296,000	2,399	05-10-2011	Sioux Falls	SD	7	CHARLES SCHWAB & COMPANY ($1,197,587,000), T. ROWE PRICE
94	B.o.s.s. Retirement Advisors, Llc	$1,060,864,881	6,766	11-07-2014	Lehi	UT	36	CHARLES SCHWAB & COMPANY ($968,439,543), FIDELITY/NFS ($111,798,000)
95	Halbert Hargrove	$3,516,418,609	607	10-13-1988	Long Beach	CA	40	CHARLES SCHWAB & COMPANY ($431,168,263), FIDELITY/NFS ($2,801,281,645)
96	Azzad Asset Management, Inc.	$1,616,062,636	985	04-01-2000	Falls Church	VA	7	CHARLES SCHWAB & COMPANY ($136,030,113), FOLIO INVESTMENTS ($893,027,922), TD AMERITRADE
97	Bay Colony Advisors	$1,263,305,046	1,603	01-28-2010	Concord	MA	30	CAPITAL GROUP, FIDELITY/NFS ($1,109,402,319), T. ROWE PRICE
98	Stoker Ostler, A Part Of Bmo Financial Group	$3,100,176,318	634	04-14-1997	Scottsdale	AZ	9	CHARLES SCHWAB & COMPANY ($2,062,261,645), FIDELITY/NFS
99	Strategic Financial Services	$2,281,912,091	700	02-17-1989	Utica	NY	23	CHARLES SCHWAB & COMPANY ($1,580,602,986), EMPOWER
100	Paul Winkler, Inc.	$1,168,234,280	2,198	06-04-2004	Goodlettsville	TN	13	AXOS ($451,377,216), CHARLES SCHWAB & COMPANY ($683,846,772)

This interactive table ranks the Top 100 Independent RIAs by Assets Under Management and number of retail clients, using the methodology outlined below.

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How Many RIA Firms Are There in the US?

As of year-end 2024, there were 15,870 SEC-registered investment advisers in the United States, according to the Investment Adviser Industry Snapshot 2025.

Some sources cite a higher total because they use broader definitions. The SEC’s “Investment Adviser Statistics” summary reports 21,669 investment advisers in 2024 (a figure that is not limited to SEC-registered RIAs alone).

Why Different Sources Give Different RIA Counts

RIA firm counts diverge primarily due to scope and categorization:

SEC-registered vs. state-registered: Some tallies are limited to SEC-registered RIAs (e.g., the IAA Snapshot figure), while others attempt to represent the broader adviser population that includes state-registered advisers.
Inclusion of exempt reporting advisers (ERAs): Certain datasets and dashboards report RIAs and ERAs together, which increases the headline number relative to an “RIA-only” count.
Entity definition (“firm” vs. other adviser categories): Depending on the source, “RIA” may refer strictly to the registered adviser entity or may be used more broadly to describe investment advisers captured across multiple Form ADV reporting categories.
As-of date and refresh cadence: Counts can reflect different “as-of” dates or reporting snapshots (year-end vs. mid-year extracts), which can materially change totals in a growing market.

How This Independent RIA List Is Built

Methodology

The Top 100 Independent RIAs 2026 ranking is based on publicly available regulatory data sourced primarily from SEC Form ADV filings.

To qualify, firms must:

Be registered with the SEC
Operate independently
Serve primarily retail, non-institutional clients

Firms are ranked using two core metrics to determine the largest RIAs:

Assets Under Management (AUM): Total discretionary and non-discretionary assets reported
Number of Retail Clients: Total individual clients receiving advisory services

This approach emphasizes firms that demonstrate both scale and reach within the retail and high-net-worth investor market.

Additional Data Context

While AUM and client count determine ranking position, this independent RIA list is supported by broader firm-level context, including:

Headquarters location
Custodial relationships
Number of advisors and registered representatives
Client type focus, such as high-net-worth individuals, business owners, or families
Founding year and firm longevity
Growth signals based on recent Form ADV changes

These data points help readers understand how top RIA firms differ beyond size alone.

How to Use This Independent RIA List

Not all firms on this independent RIA list operate the same way. Similar AUM figures can mask very different business models, client bases, and growth strategies.

As you review the rankings, consider:

Firms with high AUM but smaller advisor teams, which may indicate centralized portfolio management
Firms with larger advisor headcounts relative to AUM, often reflecting planning-led or relationship-driven models
Single-office firms compared to multi-location or national footprints
Firms focused on ultra-high-net-worth households versus mass-affluent or emerging wealth clients

Approaching the list through this lens turns it from a static ranking into a more useful research and targeting tool.

Common Characteristics of Top Independent RIAs in 2026

Although each firm on this independent RIA list is unique, several shared traits appear consistently among top-ranked firms.

Many leading independent RIAs:

Custody assets with major providers such as Schwab, Fidelity, and Pershing
Serve a mix of high-net-worth individuals, business owners, and multi-generational families
Grow through a combination of organic advisor recruiting and strategic acquisitions
Offer specialized services around tax planning, estate planning, or alternative investments
Operate lean internal teams supported by modern wealth technology platforms

These common patterns help explain why certain firms continue to scale faster than the broader RIA market.

Growth Trends Across Independent RIA Firms in 2026

The independent RIA market continues to expand, but growth is uneven across firms.

Some organizations on this list of top RIA firms by AUM are experiencing rapid expansion driven by advisor lift-outs, M&A activity, or strong asset inflows. Others are prioritizing stability, focusing on retention and long-term client relationships rather than aggressive growth.

Looking beyond headline AUM, changes in Form ADV data over time provide a clearer view of how firms are evolving. For example, a firm’s Form ADV may show a steady increase in office locations and advisory personnel even when reported AUM growth is modest, signaling operational expansion ahead of asset growth.

Reviewing Form ADV changes over time reveals:

Which firms are adding advisors, principals, or office locations
Where consolidation activity is increasing across the independent RIA landscape
Which RIAs are shifting client mix, service offerings, or business focus
When firms are standardizing operations following M&A or organizational change

Understanding these dynamics is critical for asset managers, recruiters, and service providers evaluating where opportunity is emerging within the independent RIA landscape.

Why This Independent RIA List Matters

For anyone working in or around wealth management, visibility into the largest independent RIAs provides valuable market insight.

This independent RIA list helps readers:

Understand who controls a meaningful share of retail advisory assets
Identify firms with scale, momentum, or unique positioning
Track how independence continues to reshape the advisory industry

Lists alone do not drive outcomes, but informed context does. This page is designed to support better research, better targeting, and better decision-making.

Want to Reach These Independent RIAs?

The Top 100 Independent RIAs 2026 represent the firms setting the pace in modern wealth management.

For asset managers, wealthtech companies, recruiters, and service providers, identifying the right firms is only the first step. Understanding their structure, growth profile, and advisor teams is what enables meaningful engagement.

AdvizorPro helps teams move beyond static independent RIA lists by connecting rankings to detailed firm profiles, advisor relationships, growth signals, and CRM-ready data. This allows you to prioritize the right firms, understand their business, and start informed conversations with confidence.

For teams ready to take action, AdvizorPro’s CRM integrations sync RIA data directly into your workflows, while TrafficIQ solution helps uncover which RIAs and firms are already visiting your website.

Request a free trial to see how AdvizorPro helps turn independent RIA research into measurable results.

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Written by: Cole Cummings

May 13, 2026

Cole Cummings is the Director of Marketing at AdvizorPro and a B2B SaaS marketer with multiple years of experience in the fintech industry. He leads all of AdvizorPro’s data-driven research and industry reports, giving him deep expertise in the RIA ecosystem and the trends shaping advisor behavior, allocation decisions, and firm growth across wealth management.