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Financial Services 2026Updated

List of Independent Registered Investment Advisor Firms

A curated database of independent registered investment advisor (RIA) firms across the United States, including AUM, fee structures, specializations, and contact details for high-net-worth wealth management research.

Available Data Fields

Firm Name
Headquarters
Assets Under Management
Fee Structure
SEC Registration Number
Number of Advisors
Specialization
Fiduciary Status
Minimum Account Size
Year Founded
Website
Phone

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Firm NameHeadquartersAUMFee Structure
Creative PlanningOverland Park, KS$390BFee-Based
Fisher InvestmentsPlano, TX$386BFee-Only
Edelman Financial EnginesSanta Clara, CA$308BFee-Based
Moneta GroupSt. Louis, MO$42.8BFee-Only
Chevy Chase TrustBethesda, MD$40.3BFee-Only

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Independent RIA Firms: The Fastest-Growing Segment in Wealth Management

Independent registered investment advisor firms represent the most dynamic sector in U.S. financial services. As of year-end 2024, the SEC reports 15,870 registered investment advisers, with independent RIAs capturing an ever-larger share of advisor-managed assets—projected to reach 33% by 2026.

What Defines an Independent RIA?

An independent RIA is a firm registered with the SEC or state regulators that operates free from ownership or control by wirehouses, banks, or insurance-affiliated broker-dealers. These firms are typically owned by their principals or employees and are held to a fiduciary standard, legally obligating them to act in clients’ best interests.

Market Growth and Consolidation

The independent RIA channel has expanded at an 11% compound annual growth rate over the past decade, driven by both asset appreciation and a steady migration of advisors from wirehouses and broker-dealers. In 2024, RIA firms saw:

Metric2024 Growth
Assets Under Management+16.6%
Revenue+17.6%
Client Growth+4.8%

M&A activity reached record levels with 366 deals announced in 2024 and 118 transactions in Q1 2025 alone—the busiest first quarter on record. Strategic acquirers, often PE-backed large RIAs, accounted for 87% of all deals.

Fee Structures and Economics

The dominant revenue model remains AUM-based fees, used by 86% of firms. However, the economics diverge sharply by scale: smaller RIAs (under $1B AUM) saw operating margins hit historic lows in 2023–24, with advisory expenses consuming 82% of revenue. Larger independent firms benefit from economies of scale, technology leverage, and deeper service offerings.

Key Considerations for Evaluating Independent RIAs

Fiduciary Obligation
All RIAs are held to a fiduciary standard under the Investment Advisers Act of 1940, unlike broker-dealers who may operate under a less stringent suitability standard.
SEC vs. State Registration
Firms managing $100M+ in AUM register with the SEC; smaller firms register with their state securities regulator. Both are searchable through the SEC’s IAPD database.
Custody and Compliance
Independent RIAs use third-party custodians (Schwab, Fidelity, Pershing) to hold client assets, providing an additional layer of protection.

Frequently Asked Questions

Q.How is this list different from the SEC IAPD database?

The SEC’s IAPD database provides raw regulatory filings. This dataset structures that information into searchable, filterable fields—including AUM, fee models, specializations, and contact details—so you can quickly identify and compare independent RIA firms without manually parsing Form ADV disclosures.

Q.Does this include state-registered advisors or only SEC-registered firms?

The dataset covers both SEC-registered and state-registered independent RIA firms. You can filter by registration type to focus on SEC-registered firms (typically $100M+ AUM) or include smaller state-registered advisors.

Q.How current is the AUM and firm data?

When you request data, our AI crawls publicly available sources in real time—including SEC IAPD filings, firm websites, and public disclosures—to compile the most current information available. This is not a static database with periodic updates.

Q.Can I filter for firms that serve specific client types?

Yes. You can specify criteria such as minimum account size, client focus (high-net-worth individuals, institutions, retirement plans), geographic coverage, and investment specialization to narrow the list to firms matching your needs.

Q.Is the data legally sourced?

All data is collected from publicly available sources—SEC EDGAR filings, IAPD disclosures, firm websites, and public directories—in compliance with each source’s terms of use and robots.txt directives. No non-public or proprietary data is included.