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For asset managers
AdvisorIQ

How many independent RIAs are there?

As of October 2, 2026, there are 22,902 independent wealth management RIAs in the US: 8,687 SEC-registered and 14,215 state-registered.

Total firms22,902
SEC-registered8,687
State-registered14,215
AUM$10.1 trillion

Compiled October 9, 2026 from SEC Form ADV data as of October 2, 2026 and state data as of October 9, 2026. Sources: SEC registered adviser data (ia100226.zip) and IAPD compilation reports. How the directory is built.

Method

Independent wealth management RIAs: firms whose individual and high net worth clients hold at least half of their AUM and that offer financial planning or portfolio management for individuals, from Form ADV. Asset managers, broker-dealers and banks are not counted. Firm counts as of October 2, 2026.

Affiliated advisers can report the same assets on their own Form ADV, so totals here may double count across firms, as the SEC's own totals do. Full methodology.