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.
Practices
What each practice looks like, from what it filed
A practice archetype is a rule over Form ADV answers (client mix, assets, advisors, offices, affiliations, activities, Schedule A owners), printed on every firm page beside the label; a firm can carry several. The operating metrics are derived from reported fields with the formula shown on the firm page. Nothing here estimates an advisor’s book or a firm’s revenue.
| Firm | RAUM | 1y | Advisors | Per advisor | Private clients | HNW of private | Clients / advisor | Offices | Funds |
|---|---|---|---|---|---|---|---|---|---|
| MORGAN STANLEY wirehouse | $1962B | +19% | 23,165 | $84.7M | 90% | 30% | 114 | 628 | |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED wirehouse | $1782B | +40% | 25,468 | $70.0M | 86% | 80% | 70 | 3,911 | |
| STRATEGIC ADVISERS LLC national BD | $1370B | +28% | 16,965 | $80.8M | 41% | 71% | 141 | 238 | |
| CAPTRUST institutional | $1237B | +14% | 946 | $1.3B | 7.8% | 93% | 40 | 97 | 17 |
| EDWARD JONES national BD | $1014B | +23% | 24,082 | $42.1M | 98% | 38% | 167 | 15,121 | |
| MANAGED ACCOUNT ADVISORS LLC independent RIA | $995B | +20% | 26 | $38B | 90% | 72% | 54,369 | 1 | |
| UBS FINANCIAL SERVICES INC. wirehouse | $916B | +13% | 9,355 | $97.9M | 83% | 94% | 117 | 370 | |
| LPL FINANCIAL LLC BD affiliated | $819B | +32% | 23,337 | $35.1M | 96% | 70% | 84 | 20,865 | |
| WELLS FARGO ADVISORS wirehouse | $671B | +11% | 14,699 | $45.7M | 92% | 80% | 88 | 5,039 | |
| AMERIPRISE FINANCIAL SERVICES, LLC national BD | $660B | +17% | 13,080 | $50.5M | 98% | 57% | 105 | 159 | |
| ENVESTNET PMC independent RIA | $615B | +16% | 60 | $10B | 94% | 33% | 36,987 | 2 | |
| RAYMOND JAMES & ASSOCIATES, INC. national BD | $501B | +15% | 5,788 | $86.6M | 81% | 71% | 89 | 818 | |
| J.P. MORGAN SECURITIES LLC wirehouse | $430B | +22% | 14,184 | $30.3M | 91% | 64% | 87 | 3,567 | |
| ROBERT W. BAIRD & CO. INCORPORATED mixed wealth | $394B | +15% | 2,616 | $151M | 43% | 80% | 90 | 210 | |
| RAYMOND JAMES FINANCIAL SERVICES ADVISORS, INC BD affiliated | $390B | +13% | 6,702 | $58.2M | 89% | 67% | 74 | 3,630 | |
| EDELMAN FINANCIAL ENGINES independent RIA | $326B | +11% | 724 | $451M | 55% | 48% | 659 | 132 | |
| RBC CAPITAL MARKETS, LLC national BD | $310B | +19% | 3,843 | $80.8M | 90% | 35% | 72 | 383 | |
| CETERA INVESTMENT ADVISERS LLC BD affiliated | $257B | +57% | 10,468 | $24.5M | 96% | 28% | 77 | 6,585 | |
| WELLS FARGO ADVISORS wirehouse | $252B | +28% | 4,146 | $60.8M | 93% | 78% | 110 | 1,339 | |
| OSAIC WEALTH, INC. BD affiliated | $235B | +17% | 8,058 | $29.1M | 97% | 50% | 71 | 5,587 | |
| SEI INVESTMENTS MANAGEMENT CORP mixed wealth | $216B | +9.2% | 127 | $1.7B | 24% | 9.5% | 879 | 4 | |
| COMMONWEALTH FINANCIAL NETWORK national BD | $213B | +1.4% | 2,915 | $73.0M | 95% | 54% | 122 | 1,434 | |
| HIGHTOWER ADVISORS, LLC BD affiliated | $199B | +52% | 1,045 | $190M | 90% | 88% | 60 | 133 | |
| STIFEL, NICOLAUS & COMPANY, INCORPORATED national BD | $198B | +15% | 3,348 | $59.0M | 90% | 77% | 69 | 518 | |
| EMPOWER ADVISORY GROUP, LLC BD affiliated | $195B | +23% | 1,953 | $100M | 85% | 23% | 150 | 1,235 | |
| GALLAGHER FIDUCIARY ADVISORS, LLC institutional | $195B | +7.9% | 123 | $1.6B | 0.5% | 30% | 32 | 37 | |
| FOCUS PARTNERS WEALTH, LLC independent RIA | $182B | +90% | 1,044 | $174M | 86% | 91% | 58 | 113 | 26 |
| GLOBAL RETIREMENT PARTNERS LLC institutional | $170B | +18% | 487 | $348M | 6.2% | 65% | 36 | 194 | |
| CAMBRIDGE INVESTMENT RESEARCH ADVISORS, INC. BD affiliated | $139B | +35% | 3,942 | $35.2M | 97% | 52% | 90 | 2,340 | |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC BD affiliated | $122B | +29% | 1,015 | $120M | 91% | 35% | 80 | 185 | |
| MML INVESTORS SERVICES, LLC BD affiliated | $116B | +28% | 5,087 | $22.7M | 97% | 5.5% | 88 | 1,094 | |
| JANNEY MONTGOMERY SCOTT LLC BD affiliated | $110B | +9.2% | 1,340 | $82.2M | 89% | 78% | 179 | 139 | |
| ROCKEFELLER CAPITAL MANAGEMENT BD affiliated | $100B | +42% | 1,034 | $96.3M | 82% | 84% | 46 | 68 | |
| ASSETMARK, INC. BD affiliated | $92B | +19% | 218 | $421M | 92% | 26% | 2,055 | 5 | |
| KESTRA ADVISORY SERVICES, LLC BD affiliated | $80B | +33% | 1,448 | $55.1M | 89% | 66% | 80 | 545 | |
| CRESSET ASSET MANAGEMENT, LLC independent RIA | $79B | +27% | 212 | $372M | 89% | 100% | 22 | 25 | 145 |
| TRUIST ADVISORY SERVICES, INC. BD affiliated | $77B | +14% | 1,979 | $39.1M | 91% | 67% | 64 | 2,882 | |
| WORLD INVESTMENT ADVISORS, LLC other | $72B | +27% | 363 | $197M | 15% | 54% | 52 | 125 | |
| MEEDER PUBLIC FUNDS, INC. institutional | $70B | +8.2% | 18 | $3.9B | 0.0% | 100% | 8 | ||
| BETTERMENT independent RIA | $70B | +23% | 28 | $2.5B | 92% | 27% | 36,317 | 1 | |
| ORION PORTFOLIO SOLUTIONS, LLC BD affiliated | $65B | +12% | 200 | $324M | 60% | 50% | 927 | 2 | |
| WILLIAM BLAIR & COMPANY L.L.C. BD affiliated | $64B | +10% | 328 | $196M | 82% | 86% | 108 | 12 | 21 |
| CITIGROUP GLOBAL MARKETS INC. BD affiliated | $56B | +19% | 2,420 | $23.1M | 74% | 77% | 24 | 595 | |
| BEACON POINTE ADVISORS, LLC independent RIA | $55B | +38% | 469 | $117M | 90% | 88% | 63 | 90 | 5 |
| AE WEALTH MANAGEMENT, LLC BD affiliated | $50B | +33% | 463 | $108M | 99% | 39% | 275 | 315 | |
| WEALTHFRONT ADVISERS LLC BD affiliated | $48B | +20% | 41 | $1.2B | 99% | 36% | 12,649 | 1 | |
| EP WEALTH ADVISORS independent RIA | $45B | +27% | 336 | $134M | 93% | 41% | 58 | 36 | |
| PRIVATE ADVISOR GROUP, LLC BD affiliated | $44B | +19% | 922 | $48.1M | 96% | 53% | 152 | 477 | |
| NEWEDGE ADVISORS BD affiliated | $43B | +58% | 602 | $71.8M | 92% | 72% | 81 | 100 | |
| PENN MUTUAL ASSET MANAGEMENT, LLC institutional | $42B | +8.1% | 1 | $42B | 0.0% | 1 | |||
| D.A. DAVIDSON & CO. independent RIA | $42B | +16% | 699 | $59.9M | 90% | 63% | 97 | 101 | |
| PRIME CAPITAL FINANCIAL mixed wealth | $39B | +30% | 262 | $149M | 48% | 69% | 84 | 88 | |
| FIRST MANHATTAN CO. LLC BD affiliated | $38B | +11% | 65 | $586M | 89% | 98% | 94 | 5 | 9 |
| ADVICE AND PLANNING SERVICES BD affiliated | $38B | +10% | 1,675 | $22.6M | 100% | 78% | 43 | 144 | |
| STEWARD PARTNERS INVESTMENT ADVISORY, LLC BD affiliated | $37B | +35% | 477 | $77.0M | 94% | 80% | 87 | 87 | |
| OPPENHEIMER & CO. INC. BD affiliated | $37B | +13% | 1,155 | $31.8M | 62% | 25% | 32 | 110 | |
| ALIGHT FINANCIAL ADVISORS, LLC independent RIA | $35B | +14% | 64 | $548M | 100% | 1 | |||
| SANCTUARY ADVISORS, LLC BD affiliated | $35B | +26% | 403 | $86.5M | 88% | 74% | 47 | 84 | |
| WEALTHSPIRE ADVISORS independent RIA | $34B | +33% | 235 | $146M | 97% | 95% | 41 | 27 | |
| ALLWORTH FINANCIAL, L.P. BD affiliated | $34B | +34% | 319 | $105M | 96% | 78% | 90 | 36 |
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1,073 practices match (Wrap program sponsor). Derived columns: RAUM over IAPD advisors, individual and HNW RAUM over total, HNW RAUM over private-client RAUM, private clients over advisors, Item 1.F.5 offices plus one.