Ranking, United States
Largest wealth firms by assets under management, including broker-dealer firms
As of October 2, 2026, Morgan Stanley ranked #1 nationally in AdvisorIQ's ranking of largest wealth firms by assets under management, including broker-dealer firms, with $2.0 trillion.
Showing all wealth firms, including wirehouses and broker-dealer firms. Independent RIAs only
SEC-registered and state-registered firms that report RAUM, ranked by RAUM. Independent wealth management RIAs are ranked: firms whose individual and high net worth clients hold at least half of their regulatory assets and that offer financial planning or portfolio management for individuals, leaving out broker-dealers, banks and their advisory arms. The all wealth firms view ranks the same way with those broker-dealer affiliated firms added. Asset managers, private fund managers, pension consultants and platform managers are never ranked (see the methodology). RAUM is regulatory assets under management (Form ADV Item 5.F(2)(c)) as reported in each firm's latest Form ADV filing in the data of October 2, 2026, usually as of the firm's last fiscal year end. Firms reporting no RAUM are not ranked. State lists use each firm's main office state, or its registration state when the main office is not public. The US list leaves out firms whose main office is outside the United States. Equal values share a rank and are listed by CRD number.
| Rank | Firm | City and state | RAUM |
|---|---|---|---|
| 1 | Morgan Stanley Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | Purchase, NY | $2.0 trillion |
| 2 | Merrill Lynch, Pierce, Fenner & Smith Incorporated Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | New York, NY | $1.8 trillion |
| 3 | Edward Jones Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | St. Louis, MO | $1.0 trillion |
| 4 | UBS Financial Services Inc. Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | Weehawken, NJ | $915.8 billion |
| 5 | LPL Financial LLC Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | Fort Mill, SC | $819.1 billion |
| 6 | Wells Fargo Advisors Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | St. Louis, MO | $671.4 billion |
| 7 | Ameriprise Financial Services, LLC Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | Minneapolis, MN | $660.5 billion |
| 8 | Raymond James & Associates, Inc. Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | St. Petersburg, FL | $501.0 billion |
| 9 | J.P. Morgan Securities LLC Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | New York, NY | $429.7 billion |
| 10 | Raymond James Financial Services Advisors, Inc Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | St. Petersburg, FL | $390.0 billion |
| 11 | Fisher Investments | Plano, TX | $386.7 billion |
| 12 | Vanguard Advisers, Inc. Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | Malvern, PA | $344.6 billion |
| 13 | Edelman Financial Engines | Santa Clara, CA | $326.3 billion |
| 14 | RBC Capital Markets, LLC Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | New York, NY | $310.4 billion |
| 15 | Creative Planning | Overland Park, KS | $295.6 billion |
| 16 | Cetera Investment Advisers LLC Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | Schaumburg, IL | $256.8 billion |
| 17 | Wells Fargo Advisors Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | St. Louis, MO | $252.3 billion |
| 18 | Osaic Wealth, Inc. Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | Scottsdale, AZ | $234.9 billion |
| 19 | Commonwealth Financial Network Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | Waltham, MA | $212.7 billion |
| 20 | Hightower Advisors, LLC | Chicago, IL | $198.6 billion |
| 21 | Stifel, Nicolaus & Company, Incorporated Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | St. Louis, MO | $197.5 billion |
| 22 | Empower Advisory Group, LLC | Greenwood Village, CO | $195.4 billion |
| 23 | Focus Partners Wealth, LLC | St. Louis, MO | $181.9 billion |
| 24 | Corient | Miami, FL | $165.3 billion |
| 25 | Cerity Partners LLC | New York, NY | $161.7 billion |
| 26 | Cambridge Investment Research Advisors, Inc. Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | Fairfield, IA | $138.7 billion |
| 27 | Mariner | Overland Park, KS | $125.4 billion |
| 28 | Wealth Enhancement Advisory Services, LLC | Plymouth, MN | $122.2 billion |
| 29 | MML Investors Services, LLC Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | Springfield, MA | $115.6 billion |
| 30 | Pathstone | Englewood, NJ | $110.3 billion |
| 31 | Janney Montgomery Scott LLC Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | Philadelphia, PA | $110.1 billion |
| 32 | Rockefeller Capital Management Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | New York, NY | $99.6 billion |
| 33 | Mercer Global Advisors Inc. | Denver, CO | $84.4 billion |
| 34 | Kestra Advisory Services, LLC Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | Austin, TX | $79.8 billion |
| 35 | Cresset Asset Management, LLC | Chicago, IL | $78.9 billion |
| 36 | Truist Advisory Services, Inc. Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | Atlanta, GA | $77.4 billion |
| 37 | Betterment | New York, NY | $69.5 billion |
| 38 | CIBC Private Wealth Advisors, Inc. Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | Chicago, IL | $67.8 billion |
| 39 | William Blair & Company L.L.C. Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | Chicago, IL | $64.3 billion |
| 40 | Private Advisor Group, LLC Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | Morristown, NJ | $57.7 billion |
| 41 | Ieq Capital, LLC | Foster City, CA | $56.8 billion |
| 42 | Citigroup Global Markets Inc. Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | New York, NY | $56.0 billion |
| 43 | Savant Wealth Management | Rockford, IL | $55.6 billion |
| 44 | Beacon Pointe Advisors, LLC | Newport Beach, CA | $54.9 billion |
| 45 | Mai Capital Management, LLC | Cleveland, OH | $52.1 billion |
| 46 | CWM, LLC | Omaha, NE | $50.6 billion |
| 47 | Moneta Group Investment Advisors, LLC | St. Louis, MO | $50.5 billion |
| 48 | AE Wealth Management, LLC | Topeka, KS | $49.8 billion |
| 49 | SCS Capital Management LLC | Boston, MA | $48.7 billion |
| 50 | Capital Group Private Client Services, Inc. Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | Los Angeles, CA | $48.4 billion |
| 51 | Wealthfront Advisers LLC | Palo Alto, CA | $47.7 billion |
| 52 | Equitable Advisors, LLC Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | New York, NY | $47.3 billion |
| 53 | EP Wealth Advisors | Torrance, CA | $45.1 billion |
| 54 | Newedge Advisors Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | New Orleans, LA | $43.2 billion |
| 55 | Wells Fargo Investment Institute, Inc. Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | Charlotte, NC | $43.0 billion |
| 56 | Lido | Los Angeles, CA | $42.5 billion |
| 57 | D.A. Davidson & Co. Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | Great Falls, MT | $41.8 billion |
| 58 | Focus Advisor Solutions, LLC | St. Louis, MO | $41.5 billion |
| 59 | First Manhattan Co. LLC | New York, NY | $38.1 billion |
| 60 | Advice and Planning Services Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | New York, NY | $37.9 billion |
| 61 | Rockefeller Capital Management Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | New York, NY | $36.8 billion |
| 62 | Steward Partners Investment Advisory, LLC Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | Stamford, CT | $36.7 billion |
| 63 | Oppenheimer & Co. Inc. Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | New York, NY | $36.7 billion |
| 64 | BBR Partners, LLC | New York, NY | $36.5 billion |
| 65 | Alight Financial Advisors, LLC Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | Charlotte, NC | $35.1 billion |
| 66 | Sanctuary Advisors, LLC Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | Miami, FL | $34.9 billion |
| 67 | Wealthspire Advisors | New York, NY | $34.3 billion |
| 68 | Clearstead; Clearstead Advisory Solutions | Cleveland, OH | $33.9 billion |
| 69 | Allworth Financial, L.P. | Folsom, CA | $33.6 billion |
| 70 | BNY Mellon Advisors, Inc. Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | New York, NY | $33.5 billion |
| 71 | Sequoia Financial Group, L.L.C. | Akron, OH | $32.2 billion |
| 72 | Eagle Strategies LLC Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | New York, NY | $32.0 billion |
| 73 | Goldman Sachs Wealth Services, L.P. Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | Cohoes, NY | $31.7 billion |
| 74 | Tiedemann Advisors, LLC | New York, NY | $31.0 billion |
| 75 | PNC Wealth Management Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | Pittsburgh, PA | $30.3 billion |
| 76 | &Partners Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | Nashville, TN | $30.3 billion |
| 77 | HB Wealth | Atlanta, GA | $30.2 billion |
| 78 | Waverly Advisors, LLC | Birmingham, AL | $29.9 billion |
| 79 | Valic Financial Advisors, Inc. Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | Houston, TX | $29.2 billion |
| 80 | Silvercrest Asset Management Group LLC | New York, NY | $28.3 billion |
| 81 | Plante Moran Financial Advisors | Southfield, MI | $26.9 billion |
| 82 | Arax Advisory Partners | New York, NY | $26.5 billion |
| 83 | Summit Financial, LLC | Parsippany, NJ | $26.3 billion |
| 84 | 1919 Investment Counsel, LLC Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | Baltimore, MD | $26.0 billion |
| 85 | LPL Enterprise, LLC Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | Fort Mill, SC | $24.9 billion |
| 86 | Davenport & Company LLC Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | Richmond, VA | $24.7 billion |
| 87 | United Capital Financial Advisors | Irving, TX | $24.6 billion |
| 88 | First Command Advisory Services Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | Fort Worth, TX | $24.4 billion |
| 89 | Merit Financial Advisors Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | Alpharetta, GA | $23.9 billion |
| 90 | Integrated Wealth Concepts LLC | Waltham, MA | $23.6 billion |
| 91 | Oxford Financial Group, Ltd | Carmel, IN | $23.3 billion |
| 92 | Jordan Park Group LLC | San Francisco, CA | $23.3 billion |
| 93 | Johnson Investment Counsel, Inc. | Cincinnati, OH | $23.0 billion |
| 94 | Seia | Los Angeles, CA | $22.5 billion |
| 95 | Lincoln Investment Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | Fort Washington, PA | $22.0 billion |
| 96 | Oppenheimer Asset Management Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | New York, NY | $21.3 billion |
| 97 | Baker Street Advisors, LLC | San Francisco, CA | $20.8 billion |
| 98 | Thrivent Investment Management Inc. Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs. | Minneapolis, MN | $20.8 billion |
| 99 | Offit Capital | New York, NY | $20.6 billion |
| 100 | Summit Trail Advisors, LLC | New York, NY | $19.9 billion |
Showing the top 100. Figures are as firms reported them on Form ADV.
More rankings
- Fastest-growing wealth firms over one year, including broker-dealer firms
- Fastest-growing wealth firms over three years, including broker-dealer firms
- Fastest-growing wealth firms over five years, including broker-dealer firms
- Wealth firms with the biggest asset gains over one year, including broker-dealer firms
- Wealth firms with the most clients, including broker-dealer firms
- Wealth firms with the fastest client growth over one year, including broker-dealer firms
- Wealth firms with the most accounts, including broker-dealer firms
- Wealth firms with the most advisory staff, including broker-dealer firms
- Wealth firms with the most high net worth clients, including broker-dealer firms
- Wealth firms with the most CFP professionals, including broker-dealer firms
- Newest wealth firms, including broker-dealer firms
Largest by state
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- District of Columbia
- Florida
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
- Puerto Rico
- U.S. Virgin Islands
- Guam
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.