SEC-registered independent wealth management RIA
Healthequity Advisors
As of its Form ADV filed March 25, 2026, Healthequity Advisors, an SEC-registered independent wealth management RIA in Draper, Utah, reported $2.0 billion in regulatory assets under management across 178,476 accounts, ranking #7 among independent RIAs in Utah by assets.
Registration
- Registration
- SEC-registered, Approved
- CRD number
- 167105
- SEC file number
- 801-78001
- Registered since
- April 26, 2013
- Latest Form ADV filing
- March 25, 2026
- Legal name
- HEALTHEQUITY ADVISORS, LLC
- Organized as
- Limited Liability Company
- Fiscal year ends
- January
- Other offices
- 0
Key figures
- Regulatory assets under management
- $2.0 billion
- Discretionary
- $1.2 billion (60.5%)
- Non-discretionary
- $787.5 million
- Accounts
- 178,476 (92,610 discretionary)
- Clients
- 178,478, approximate as reported
- Employees
- 8
- Advisory staff
- 1 performing investment advisory functions
- Average account
- $11,178
- Asset growth, 1 year
- 32.2% (from $1.5 billion a year earlier)
- Asset growth, 3-year annual rate
- 23.1% (from $1.1 billion three years earlier)
- Asset growth, 5-year annual rate
- 19.5% (from $820.2 million five years earlier)
- Client growth, 1 year
- 34.0% (from 133,158)
Independent wealth management RIA: individual and high net worth clients hold at least half of its regulatory assets, it offers financial planning or portfolio management for individuals, and it is not a broker-dealer, a bank or part of one by the directory's rules. How firms are classed.
Growth rates come from the SEC's yearly snapshots and are left blank when the years are not comparable.
Rankings
Among independent wealth management RIAs.
| Ranking | Nationally | In Utah | Value |
|---|---|---|---|
| Largest independent RIAs by assets under management | #616 | #7 | $2.0 billion |
| Fastest-growing independent RIAs over one year | #861 | #13 | 32.2%from $1.5 billion |
| Fastest-growing independent RIAs over three years | #1,124 | #18 | 23.1%from $1.1 billion |
| Fastest-growing independent RIAs over five years | #669 | #10 | 19.5%from $820.2 million |
| Independent RIAs with the biggest asset gains over one year | #418 | #5 | $486.4 million |
| Independent RIAs with the most clients | #8 | #1 | 178,478 |
| Independent RIAs with the fastest client growth over one year | #424 | #9 | 34.0%from 133,158 |
| Independent RIAs with the most accounts | #15 | #1 | 178,476 |
| Independent RIAs with the most advisory staff | #10,188 | #134 | 1 |
Assets over time
Data table
| As of | RAUM |
|---|---|
| October 1, 2013 | $0 |
| October 1, 2014 | $12.8 million |
| October 1, 2015 | $47.3 million |
| October 3, 2016 | $66.5 million |
| October 2, 2017 | $122.2 million |
| October 1, 2018 | $274.3 million |
| October 1, 2019 | $364.2 million |
| October 1, 2020 | $565.3 million |
| October 4, 2021 | $820.2 million |
| October 3, 2022 | $1.1 billion |
| October 5, 2023 | $1.1 billion |
| October 1, 2024 | $1.2 billion |
| September 2, 2025 | $1.5 billion |
| October 2, 2026 | $2.0 billion |
Clients and services
Client mix
| Measure | Bar | RAUM |
|---|---|---|
| Individuals (other than high net worth) 178,476 clients | $2.0 billion | |
| High net worth individuals fewer than 5 clients | $0 | |
| Banking or thrift institutions fewer than 5 clients | $0 | |
| Pension and profit sharing plans fewer than 5 clients | $0 | |
| Charitable organizations fewer than 5 clients | $0 | |
| State or municipal government entities fewer than 5 clients | $0 | |
| Other investment advisers fewer than 5 clients | $0 | |
| Insurance companies fewer than 5 clients | $0 | |
| Sovereign wealth funds and foreign official institutions fewer than 5 clients | $0 | |
| Corporations or other businesses fewer than 5 clients | $0 |
How the firm is paid
- A percentage of assets under management
- Fixed fees
Advisory services
- Portfolio management for individuals or small businesses
- Other
Wrap fee program sponsor or portfolio manager: no.
Other business, affiliations and custody
Other business activities (Item 6.A)
None reported.
Financial industry affiliations (Item 7.A)
- Trust company
Custody (Item 9)
The firm reported custody of client cash or securities, $4.0 billion in total.
Investment adviser representatives
- IARs registered with the firm
- 1
- Also registered through a broker-dealer
- 0
- Employees who are IARs (Form ADV 5.B(3))
- 1
Designations held by the firm's IARs: ChFC 1.
0 of the firm's 1 IAR are registered in jurisdictions that require IAR CE. IAR CE requirements by state.
Counts only. AdvisorIQ does not list individual people.
Disclosures
On Form ADV Item 11 the firm answered yes to 0 disclosure questions. See the detail on IAPD.
Succession and acquired firms
On Form ADV Item 4 the firm did not report succeeding to another adviser's business.
Similar-sized firms in Utah
| Firm | City | RAUM |
|---|---|---|
| Capita Financial Network, LLC | Draper | $2.3 billion |
| Albion Financial Group | Salt Lake City | $2.0 billion |
| Physician Wealth Advisors, Inc. | Salt Lake City | $2.0 billion |
| The Norden Group LLC | Provo | $2.0 billion |
| Drive Wealth Advisers | Lehi | $1.5 billion |
The five independent RIAs nearest in regulatory assets with a main office in the same state.
Elsewhere
- Healthequity Advisors on IAPD: Form ADV, brochures and disclosure detail.
- Firm website: www.healthequityadvisors.com
- Independent RIAs in Utah
Firm data as of October 2, 2026, from ia100226.zip. Figures are as the firm reported them; corrections are made on Form ADV and appear after the next monthly reload.
Data as of October 2, 2026, from Form ADV. Sources: SEC registered adviser data (ia100226.zip) and IAPD compilation reports. How the directory is built.