DFX Intelligence
RIA Intelligence
Registered investment advisers, the advisors registered through them, the capital they report, the private vehicles they run and the people who own them, as a graph with a filing date behind every number. RAUM is what the adviser filed, a move is two registration dates, and a class is a rule you can read.
Firm flows
Advisor arrivals and departures by firm, last 12 months
Departures are registration endings at the firm whose person is registered somewhere else on the graph; arrivals are registration beginnings. People who left the industry are not counted here (they leave the IAPD feed), so every departure is a firm change. The departure rate divides by the firm’s current IAPD headcount.
| Firm | RAUM | Advisors | Left 12m | Joined 12m | Net | Rate | Left 90d | Left 36m |
|---|---|---|---|---|---|---|---|---|
| Merrill Lynch, Pierce, Fenner & Smith Incorporated wirehouse NY | $1782B | 25,477 | 1,540 | 588 | -952 | 6.0% | 314 | 4,587 |
| LPL Financial LLC BD affiliated SC | $819B | 23,319 | 945 | 1,816 | +871 | 4.1% | 209 | 2,575 |
| Morgan Stanley wirehouse NY | $1962B | 23,147 | 768 | 823 | +55 | 3.3% | 166 | 2,659 |
| Wells Fargo Advisors wirehouse MO | $671B | 14,697 | 753 | 894 | +141 | 5.1% | 170 | 2,361 |
| Edward Jones national BD MO | $1014B | 24,084 | 735 | 332 | -403 | 3.1% | 145 | 1,989 |
| Strategic Advisers LLC national BD MA | $1370B | 16,954 | 716 | 320 | -396 | 4.2% | 138 | 1,124 |
| Commonwealth Financial Network national BD MA | $213B | 2,942 | 653 | 92 | -561 | 22% | 93 | 1,157 |
| J.P. Morgan Securities LLC wirehouse NY | $430B | 14,152 | 652 | 1,110 | +458 | 4.6% | 129 | 2,034 |
| Ameriprise Financial Services, LLC national BD MN | $660B | 13,078 | 632 | 551 | -81 | 4.8% | 138 | 1,744 |
| UBS Financial Services Inc. wirehouse NJ | $916B | 9,349 | 628 | 293 | -335 | 6.7% | 134 | 1,639 |
| Equitable Advisors, LLC national BD NY | $42B | 4,624 | 559 | 98 | -461 | 12% | 77 | 1,386 |
| Cetera Investment Advisers LLC BD affiliated IL | $257B | 10,475 | 554 | 568 | +14 | 5.3% | 133 | 1,403 |
| Osaic Wealth, Inc. BD affiliated AZ | $235B | 8,054 | 429 | 348 | -81 | 5.3% | 99 | 1,370 |
| Raymond James Financial Services Advisors, Inc BD affiliated FL | $390B | 6,694 | 318 | 636 | +318 | 4.8% | 82 | 1,072 |
| MML Investors Services, LLC BD affiliated MA | $116B | 5,082 | 295 | 266 | -29 | 5.8% | 56 | 944 |
| LPL Enterprise, LLC BD affiliated SC | $25B | 3,121 | 275 | 259 | -16 | 8.8% | 53 | 527 |
| Charles Schwab & Co., Inc. national BD CA | $0 | 6,778 | 255 | 392 | +137 | 3.8% | 67 | 1,085 |
| Raymond James & Associates, Inc. national BD FL | $501B | 5,787 | 233 | 392 | +159 | 4.0% | 45 | 653 |
| Cambridge Investment Research Advisors, Inc. BD affiliated IA | $139B | 3,941 | 211 | 250 | +39 | 5.4% | 59 | 615 |
| Wells Fargo Advisors wirehouse MO | $252B | 4,134 | 176 | 244 | +68 | 4.3% | 36 | 486 |
| Northwestern Mutual Investment Services,LLC no RAUM WI | $0 | 2,136 | 150 | 195 | +45 | 7.0% | 28 | 413 |
| Truist Advisory Services, Inc. BD affiliated GA | $77B | 1,981 | 140 | 116 | -24 | 7.1% | 32 | 475 |
| Park Avenue Securities LLC BD affiliated NY | $20B | 1,911 | 139 | 88 | -51 | 7.3% | 44 | 375 |
| RBC Capital Markets, LLC national BD NY | $310B | 3,840 | 138 | 233 | +95 | 3.6% | 43 | 440 |
| Fisher Investments independent RIA TX | $387B | 2,933 | 131 | 217 | +86 | 4.5% | 28 | 357 |
| Thrivent Investment Management Inc. BD affiliated MN | $21B | 3,159 | 126 | 100 | -26 | 4.0% | 15 | 460 |
| Eagle Strategies LLC BD affiliated NY | $32B | 2,480 | 120 | 57 | -63 | 4.8% | 26 | 286 |
| Florida Financial Advisors, LLC BD affiliated FL | $456M | 844 | 120 | 13 | -107 | 14% | 21 | 309 |
| Vanguard Advisers, Inc. BD affiliated PA | $345B | 2,422 | 113 | 281 | +168 | 4.7% | 28 | 491 |
| Stifel, Nicolaus & Company, Incorporated national BD MO | $198B | 3,340 | 109 | 79 | -30 | 3.3% | 26 | 305 |
| Empower Advisory Group, LLC BD affiliated CO | $195B | 1,944 | 107 | 393 | +286 | 5.5% | 22 | 311 |
| Citigroup Global Markets Inc. BD affiliated NY | $56B | 2,416 | 107 | 152 | +45 | 4.4% | 27 | 579 |
| Advice And Planning Services BD affiliated NY | $38B | 1,672 | 105 | 197 | +92 | 6.3% | 14 | 330 |
| Kestra Advisory Services, LLC BD affiliated TX | $80B | 1,440 | 100 | 156 | +56 | 6.9% | 25 | 318 |
| Pnc Wealth Management BD affiliated PA | $30B | 1,159 | 85 | 163 | +78 | 7.3% | 20 | 270 |
| Valic Financial Advisors, Inc. BD affiliated TX | $29B | 1,256 | 83 | 65 | -18 | 6.6% | 24 | 276 |
| Principal Securities, Inc. BD affiliated IA | $17B | 1,461 | 71 | 95 | +24 | 4.9% | 17 | 225 |
| Lincoln Investment independent RIA PA | $22B | 915 | 69 | 55 | -14 | 7.5% | 17 | 163 |
| First Command Advisory Services BD affiliated TX | $24B | 1,034 | 66 | 48 | -18 | 6.4% | 13 | 198 |
| Oppenheimer & Co. Inc. BD affiliated NY | $37B | 1,149 | 60 | 53 | -7 | 5.2% | 14 | 151 |
| Goldman Sachs Wealth Services, L.P. BD affiliated NY | $32B | 1,098 | 58 | 17 | -41 | 5.3% | 8 | 162 |
| Foundations Investment Advisors LLC independent RIA AZ | $10B | 298 | 58 | 79 | +21 | 19% | 9 | 114 |
| Ae Wealth Management, LLC BD affiliated KS | $50B | 462 | 58 | 55 | -3 | 13% | 9 | 225 |
| Schwab Wealth Advisory, Inc. no RAUM CA | $0 | 1,643 | 57 | 260 | +203 | 3.5% | 16 | 127 |
| Hightower Advisors, LLC BD affiliated IL | $199B | 1,043 | 56 | 94 | +38 | 5.4% | 17 | 143 |
| Key Investment Services LLC BD affiliated OH | $8.9B | 637 | 55 | 90 | +35 | 8.6% | 17 | 146 |
| Citizens Securities, Inc. BD affiliated RI | $13B | 782 | 51 | 91 | +40 | 6.5% | 15 | 201 |
| Robert W. Baird & Co. Incorporated mixed wealth WI | $394B | 2,612 | 51 | 69 | +18 | 2.0% | 16 | 172 |
| Transamerica Financial Advisors, LLC BD affiliated PA | $2.1B | 1,120 | 47 | 31 | -16 | 4.2% | 6 | 198 |
| Capital Analysts BD affiliated PA | $8.8B | 623 | 47 | 0 | -47 | 7.5% | 10 | 133 |
| Focus Partners Wealth, LLC independent RIA MO | $182B | 1,043 | 46 | 83 | +37 | 4.4% | 11 | 80 |
| Oneamerica Securities, Inc. BD affiliated IN | $306M | 335 | 45 | 26 | -19 | 13% | 23 | 108 |
| Mariner BD affiliated KS | $125B | 984 | 44 | 130 | +86 | 4.5% | 7 | 108 |
| Osaic Institutions, Inc. BD affiliated CT | $6.5B | 544 | 43 | 44 | +1 | 7.9% | 12 | 183 |
| Edelman Financial Engines independent RIA CA | $326B | 723 | 41 | 101 | +60 | 5.7% | 6 | 123 |
| Janney Montgomery Scott LLC BD affiliated PA | $110B | 1,340 | 40 | 88 | +48 | 3.0% | 5 | 194 |
| Ameritas Advisory Services, LLC BD affiliated NE | $14B | 549 | 38 | 35 | -3 | 6.9% | 5 | 94 |
| Hornor, Townsend & Kent, LLC independent RIA PA | $9.0B | 468 | 38 | 29 | -9 | 8.1% | 5 | 142 |
| Fifth Third Securities, Inc. BD affiliated OH | $11B | 1,004 | 38 | 54 | +16 | 3.8% | 12 | 117 |
| Newedge Advisors BD affiliated LA | $43B | 601 | 37 | 108 | +71 | 6.2% | 11 | 78 |
| Cwm, LLC BD affiliated NE | $51B | 660 | 36 | 100 | +64 | 5.5% | 7 | 135 |
| Esi Financial Advisors independent RIA VT | $2.8B | 507 | 36 | 55 | +19 | 7.1% | 9 | 120 |
| T. Rowe Price Advisory Services, Inc. BD affiliated MD | $5.9B | 490 | 34 | 37 | +3 | 6.9% | 6 | 91 |
| Tlg Advisors, Inc. BD affiliated NJ | $2.3B | 304 | 34 | 57 | +23 | 11% | 9 | 69 |
| Money Concepts Advisory Service BD affiliated FL | $4.1B | 395 | 34 | 24 | -10 | 8.6% | 4 | 68 |
| U.S. Bancorp Advisors, LLC BD affiliated MN | $1.8B | 1,160 | 33 | 77 | +44 | 2.8% | 11 | 57 |
| Bankers Life Advisory Services, Inc. BD affiliated IL | $2.5B | 533 | 33 | 27 | -6 | 6.2% | 4 | 83 |
| First Citizens Investor Services, Inc. BD affiliated NC | $2.6B | 404 | 33 | 38 | +5 | 8.2% | 5 | 68 |
| Primerica Advisors national BD GA | $16B | 3,977 | 32 | 34 | +2 | 0.8% | 10 | 99 |
| Alliancebernstein L.P. other TN | $763B | 520 | 32 | 42 | +10 | 6.2% | 6 | 90 |
| Pfg Advisors independent RIA AZ | $3.3B | 81 | 32 | 4 | -28 | 40% | 1 | 48 |
| Independent Financial Group, LLC BD affiliated CA | $13B | 484 | 32 | 37 | +5 | 6.6% | 3 | 96 |
| Td Private Client Wealth LLC BD affiliated NY | $8.6B | 523 | 31 | 113 | +82 | 5.9% | 5 | 118 |
| D.A. Davidson & Co. independent RIA MT | $42B | 699 | 31 | 31 | 0 | 4.4% | 0 | 88 |
| Kovack Advisors, Inc. BD affiliated FL | $6.3B | 257 | 30 | 19 | -11 | 12% | 10 | 60 |
| Stratos Wealth Partners, Ltd BD affiliated OH | $19B | 386 | 29 | 34 | +5 | 7.5% | 15 | 65 |
| Harbour Investments, Inc. independent RIA WI | $9.6B | 247 | 29 | 22 | -7 | 12% | 7 | 42 |
| Hsbc Securities (USA) Inc. BD affiliated NY | $3.8B | 376 | 29 | 40 | +11 | 7.7% | 3 | 71 |
| United Planners' Financial Services Of America A Limited Partner independent RIA AZ | $13B | 364 | 29 | 38 | +9 | 8.0% | 8 | 71 |
| Brookstone Wealth Advisors, LLC no RAUM IL | $0 | 241 | 28 | 14 | -14 | 12% | 8 | 83 |
| Huntington Financial Advisors BD affiliated OH | $7.9B | 427 | 26 | 25 | -1 | 6.1% | 10 | 90 |
| Creativeone Wealth, LLC independent RIA KS | $6.3B | 223 | 26 | 25 | -1 | 12% | 2 | 52 |
| W&S Brokerage Services, Inc. BD affiliated OH | $257M | 104 | 26 | 15 | -11 | 25% | 5 | 63 |
| Gradient Advisors, LLC independent RIA MN | $289M | 184 | 25 | 20 | -5 | 14% | 4 | 71 |
| Private Advisor Group, LLC BD affiliated NJ | $44B | 920 | 25 | 51 | +26 | 2.7% | 11 | 86 |
| Global Retirement Partners LLC institutional CA | $170B | 486 | 25 | 60 | +35 | 5.1% | 7 | 85 |
| Blackrock Investment Management, LLC asset manager NJ | $677B | 670 | 24 | 32 | +8 | 3.6% | 4 | 106 |
| Advisornet Wealth Partners independent RIA MN | $3.1B | 58 | 24 | 4 | -20 | 41% | 3 | 48 |
| Wealth Enhancement Advisory Services, LLC BD affiliated MN | $122B | 1,013 | 24 | 168 | +144 | 2.4% | 7 | 78 |
| Wealthcare Advisory Partners LLC BD affiliated PA | $8.3B | 176 | 24 | 23 | -1 | 14% | 0 | 34 |
| Voya Financial Advisors, Inc. BD affiliated CT | $3.9B | 747 | 24 | 154 | +130 | 3.2% | 5 | 54 |
| Principal Advised Services BD affiliated IA | $1.4B | 224 | 24 | 17 | -7 | 11% | 7 | 43 |
| Creative Planning Institutional Advisors, LLC institutional CA | $38B | 95 | 23 | 2 | -21 | 24% | 3 | 45 |
| Integrity Alliance, LLC BD affiliated IA | $5.4B | 355 | 23 | 48 | +25 | 6.5% | 7 | 55 |
| World Investment Advisors, LLC other NJ | $72B | 363 | 23 | 63 | +40 | 6.3% | 5 | 41 |
| Sanctuary Advisors, LLC BD affiliated FL | $35B | 403 | 23 | 43 | +20 | 5.7% | 4 | 61 |
| Steward Partners Investment Advisory, LLC BD affiliated CT | $37B | 473 | 23 | 73 | +50 | 4.9% | 7 | 42 |
| Rockefeller Capital Management BD affiliated NY | $100B | 1,033 | 23 | 143 | +120 | 2.2% | 2 | 71 |
| Capital Client Group, Inc. no RAUM CA | n/a | 599 | 23 | 35 | +12 | 3.8% | 5 | 65 |
| Prosperity Capital Advisors independent RIA OH | $4.4B | 102 | 22 | 10 | -12 | 22% | 3 | 39 |