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Independent RIAs in Arizona

As of October 2, 2026, 607 independent wealth management RIAs based in Arizona reported $112.1 billion in regulatory assets under management; the largest by assets was Foundations Investment Advisors LLC, with $10.1 billion.

Include wirehouses and broker-dealer firms

Independent wealth management RIAs
607
SEC-registered
178
State-registered
429
Regulatory assets under management
$112.1 billion
Client accounts
341,656
Median firm size
$50.1 million
Broker-dealer affiliated firms, not included
13, with $253.2 billion

Arizona has not adopted IAR continuing education. Status from NASAA's IAR CE map, checked October 5, 2026. IAR CE in Arizona.

Top firms in Arizona

Largest independent RIAs by assets under management

Rank Firm City RAUM
1 Foundations Investment Advisors LLC Phoenix $10.1 billion
2 Ashton Thomas Private Wealth Scottsdale $6.0 billion
3 Dynamic Phoenix $5.6 billion
4 Tci Wealth Advisors, Inc. Tucson $5.4 billion
5 Tfo Family Office Partners Phoenix $5.0 billion
6 PFG Advisors Phoenix $3.3 billion
7 Trek Financial Scottsdale $2.8 billion
8 Trajan Wealth, L.L.C. Scottsdale $2.6 billion
9 Xcelsior Advisor Partners LLC Scottsdale $2.5 billion
10 Verus Capital Partners, LLC Scottsdale $2.3 billion

Top 100 in Arizona

Fastest-growing independent RIAs over one year

Rank Firm City Growth Starting value
1 Bridgeport Financial Solutions Phoenix 116.0% $484.5 million
2 Arq Wealth Advisors, LLC Scottsdale 86.7% $649.3 million
3 Fortitude Family Office Scottsdale 71.0% $741.7 million
4 Kingdom Financial Group, LLC Peoria 52.9% $340.6 million
5 Babb Wealth Advisors LLC Flagstaff 48.6% $140.9 million
6 Ashton Thomas Private Wealth Scottsdale 48.3% $4.1 billion
7 Sharpepoint, LLC Phoenix 48.0% $150.5 million
8 Versant Capital Management, Inc. Phoenix 46.1% $1.2 billion
9 Luminvest Wealth Management LLC Scottsdale 41.3% $281.7 million
10 Clarity Wealth Management, L.L.C. Gilbert 41.2% $167.7 million

Top 100 in Arizona

Fastest-growing independent RIAs over three years

Rank Firm City Growth Starting value
1 Fortitude Family Office Scottsdale 59.9% $310.4 million
2 Ashton Thomas Private Wealth Scottsdale 44.2% $2.0 billion
3 Arq Wealth Advisors, LLC Scottsdale 42.4% $420.0 million
4 AWM Capital, LLC Phoenix 41.0% $530.9 million
5 Strategy Financial Group Phoenix 39.3% $135.8 million
6 Foundations Investment Advisors LLC Phoenix 39.0% $3.8 billion
7 Eaton-Cambridge Inc. Phoenix 36.2% $190.1 million
8 Trajan Wealth, L.L.C. Scottsdale 35.2% $1.1 billion
9 Verus Capital Partners, LLC Scottsdale 34.2% $948.2 million
10 Watts Gwilliam & Company, LLC Gilbert 33.6% $432.9 million

Top 100 in Arizona

Fastest-growing independent RIAs over five years

Rank Firm City Growth Starting value
1 Ashton Thomas Private Wealth Scottsdale 43.3% $994.5 million
2 AWM Capital, LLC Phoenix 40.9% $268.0 million
3 Foundations Investment Advisors LLC Phoenix 39.0% $1.9 billion
4 Balboa Wealth Partners, Inc. Scottsdale 35.8% $231.5 million
5 Harmony Asset Management LLC Scottsdale 33.5% $108.9 million
6 Trajan Wealth, L.L.C. Scottsdale 31.8% $653.7 million
7 Eaton-Cambridge Inc. Phoenix 29.5% $132.0 million
8 Strategy Financial Group Phoenix 26.6% $112.6 million
9 Arq Wealth Advisors, LLC Scottsdale 25.8% $384.7 million
10 Watts Gwilliam & Company, LLC Gilbert 25.7% $329.4 million

Top 100 in Arizona

Independent RIAs with the biggest asset gains over one year

Rank Firm City Increase
1 Foundations Investment Advisors LLC Phoenix $2.9 billion
2 Xcelsior Advisor Partners LLC Scottsdale $2.4 billion
3 Ashton Thomas Private Wealth Scottsdale $2.0 billion
4 Tfo Family Office Partners Phoenix $869.6 million
5 Tci Wealth Advisors, Inc. Tucson $840.9 million
6 Trajan Wealth, L.L.C. Scottsdale $632.1 million
7 Versant Capital Management, Inc. Phoenix $571.7 million
8 Arq Wealth Advisors, LLC Scottsdale $563.3 million
9 Bridgeport Financial Solutions Phoenix $561.9 million
10 Fortitude Family Office Scottsdale $526.6 million

Top 100 in Arizona

Independent RIAs with the most clients

Rank Firm City Most clients
1 Foundations Investment Advisors LLC Phoenix 29,663
2 Trajan Wealth, L.L.C. Scottsdale 10,633
3 PFG Advisors Phoenix 7,602
4 Dynamic Phoenix 5,690
5 Verus Capital Partners, LLC Scottsdale 5,642
6 Trek Financial Scottsdale 4,688
7 Brookwood Investment Group Phoenix 3,506
8 Tci Wealth Advisors, Inc. Tucson 3,287
9 Ashton Thomas Private Wealth Scottsdale 3,229
10 Preston Investments Kingman 2,528

Top 100 in Arizona

Independent RIAs with the fastest client growth over one year

Rank Firm City Growth Starting value
1 Amplify Financial, LLC Scottsdale 191.1% 550
2 Clarity Wealth Management, L.L.C. Gilbert 160.8% 362
3 C2C Wealth Management, LLC Scottsdale 121.9% 146
4 Greenberg Financial Group Tucson 113.1% 382
5 Heritage Family Offices, LLP Scottsdale 104.1% 245
6 Cole Wealth Management, LLC Scottsdale 100.0% 281
7 Preston Investments Kingman 97.8% 1,278
8 Bridgeport Financial Solutions Phoenix 93.4% 530
9 Immaculate Wealth Management, LLC Mesa 62.8% 355
10 Fortitude Family Office Scottsdale 48.2% 278

Top 100 in Arizona

Independent RIAs with the most accounts

Rank Firm City Most accounts
1 Foundations Investment Advisors LLC Phoenix 63,604
2 Trajan Wealth, L.L.C. Scottsdale 18,370
3 Dynamic Phoenix 15,179
4 PFG Advisors Phoenix 13,982
5 Tci Wealth Advisors, Inc. Tucson 11,863
6 Trek Financial Scottsdale 10,768
7 Ashton Thomas Private Wealth Scottsdale 7,879
8 Verus Capital Partners, LLC Scottsdale 7,289
9 Brookwood Investment Group Phoenix 7,129
10 Xcelsior Advisor Partners LLC Scottsdale 4,746

Top 100 in Arizona

Independent RIAs with the most advisory staff

Rank Firm City Most advisory staff
1 Foundations Investment Advisors LLC Phoenix 289
2 PFG Advisors Phoenix 86
3 Dynamic Phoenix 65
4 Ashton Thomas Private Wealth Scottsdale 63
5 Trek Financial Scottsdale 55
6 Tfo Family Office Partners Phoenix 47
7 Trajan Wealth, L.L.C. Scottsdale 46
8 Tci Wealth Advisors, Inc. Tucson 45
8 Verus Capital Partners, LLC Scottsdale 45
10 AWM Capital, LLC Phoenix 28

Top 100 in Arizona

Independent RIAs with the most high net worth clients

Rank Firm City Most high net worth clients
1 Foundations Investment Advisors LLC Phoenix 6,047
2 Dynamic Phoenix 1,813
3 Tci Wealth Advisors, Inc. Tucson 1,290
4 Ashton Thomas Private Wealth Scottsdale 1,198
5 Trajan Wealth, L.L.C. Scottsdale 1,035
6 PFG Advisors Phoenix 735
7 Trek Financial Scottsdale 670
8 Amplify Financial, LLC Scottsdale 584
9 Watts Gwilliam & Company, LLC Gilbert 458
10 Galvin, Gaustad & Stein, LLC Scottsdale 440

Top 100 in Arizona

Independent RIAs with the most CFP professionals

Rank Firm City Most CFP professionals
1 Foundations Investment Advisors LLC Phoenix 31
2 Tci Wealth Advisors, Inc. Tucson 29
3 Dynamic Phoenix 22
4 Ashton Thomas Private Wealth Scottsdale 17
5 PFG Advisors Phoenix 15
6 Dew Wealth Management Scottsdale 14
7 Tfo Family Office Partners Phoenix 13
8 AWM Capital, LLC Phoenix 11
8 Brookwood Investment Group Phoenix 11
10 Sensible Money, LLC Scottsdale 10

Top 100 in Arizona

Newest independent RIAs

Rank Firm City Amount
1 345 Investment Advisory, LLC Scottsdale $295.1 million
2 Lilliano Capital Management LLC Phoenix $167.9 million
3 Wisdom Wealth Investment Advisors LLC Phoenix $138.8 million
4 Box Hill Private Wealth Scottsdale $137.5 million
5 Almega Wealth Management Scottsdale $134.3 million
6 Luminescent Wealth Management, Inc. Scottsdale $127.4 million
7 Form Prosperity Wealth Advisors, LLC Chandler $119.0 million
8 Redeem Wealth Management Gilbert $118.6 million
9 Aton Advisors, LLC Marana $116.4 million
10 Schulz Financial Group Tucson $114.9 million

Top 100 in Arizona

Over time

From the SEC's yearly files: SEC-registered independent RIAs based in Arizona, from October 2018, each snapshot classed from its own Form ADV answers.

FirmsSEC-registered independent RIAs. 9 snapshots, October 1, 2018 to October 2, 2026.
050100150200201820202021202320242026178October 1, 2018: 94October 1, 2019: 99October 1, 2020: 102October 4, 2021: 112October 3, 2022: 114October 5, 2023: 122October 1, 2024: 130September 2, 2025: 140October 2, 2026: 178
Data table
As ofFirms
October 1, 201894
October 1, 201999
October 1, 2020102
October 4, 2021112
October 3, 2022114
October 5, 2023122
October 1, 2024130
September 2, 2025140
October 2, 2026178
Regulatory assets under managementSEC-registered independent RIAs. 9 snapshots, October 1, 2018 to October 2, 2026.
$0$50B$100B$150B201820202021202320242026$102BOctober 1, 2018: $34.1 billionOctober 1, 2019: $35.2 billionOctober 1, 2020: $41.6 billionOctober 4, 2021: $48.2 billionOctober 3, 2022: $60.7 billionOctober 5, 2023: $54.5 billionOctober 1, 2024: $69.1 billionSeptember 2, 2025: $79.5 billionOctober 2, 2026: $101.8 billion
Data table
As ofRegulatory assets under management
October 1, 2018$34.1 billion
October 1, 2019$35.2 billion
October 1, 2020$41.6 billion
October 4, 2021$48.2 billion
October 3, 2022$60.7 billion
October 5, 2023$54.5 billion
October 1, 2024$69.1 billion
September 2, 2025$79.5 billion
October 2, 2026$101.8 billion
Client accountsSEC-registered independent RIAs. 9 snapshots, October 1, 2018 to October 2, 2026.
0100K200K300K400K201820202021202320242026302KOctober 1, 2018: 100,458October 1, 2019: 112,351October 1, 2020: 130,058October 4, 2021: 170,617October 3, 2022: 224,699October 5, 2023: 199,072October 1, 2024: 241,432September 2, 2025: 245,247October 2, 2026: 301,698
Data table
As ofClient accounts
October 1, 2018100,458
October 1, 2019112,351
October 1, 2020130,058
October 4, 2021170,617
October 3, 2022224,699
October 5, 2023199,072
October 1, 2024241,432
September 2, 2025245,247
October 2, 2026301,698
Median firm size (RAUM)SEC-registered independent RIAs. 9 snapshots, October 1, 2018 to October 2, 2026.
$0$100M$200M$300M201820202021202320242026$242MOctober 1, 2018: $223.3 millionOctober 1, 2019: $216.0 millionOctober 1, 2020: $217.6 millionOctober 4, 2021: $252.5 millionOctober 3, 2022: $257.3 millionOctober 5, 2023: $218.2 millionOctober 1, 2024: $254.4 millionSeptember 2, 2025: $255.3 millionOctober 2, 2026: $241.5 million
Data table
As ofMedian firm size (RAUM)
October 1, 2018$223.3 million
October 1, 2019$216.0 million
October 1, 2020$217.6 million
October 4, 2021$252.5 million
October 3, 2022$257.3 million
October 5, 2023$218.2 million
October 1, 2024$254.4 million
September 2, 2025$255.3 million
October 2, 2026$241.5 million

The market in Arizona now

Headline figures

MeasureIndependent RIAsSEC-registeredState-registered
Firms607178429
Regulatory assets under management$112.1 billion$101.8 billion$10.3 billion
Accounts341,656301,69839,958
Clients167,776142,48325,293
Employees3,0772,394683
Advisory employees2,1881,605583
Investment adviser representatives2,3121,729583
Median RAUM$50.1 million$241.5 million$21.3 million
Average RAUM$224.6 million$598.7 million$31.3 million

Firms by size

Advisers grouped by regulatory assets under management.

MeasureIndependent RIAsSEC-registeredState-registered
Firms under $100 million3329323
RAUM of firms under $100 million$10.2 billion$485.7 million$9.7 billion
Firms $100 million to $250 million85796
RAUM of firms $100 million to $250 million$13.8 billion$13.2 billion$624.6 million
Firms $250 million to $500 million48480
RAUM of firms $250 million to $500 million$17.1 billion$17.1 billion$0
Firms $500 million to $1 billion11110
RAUM of firms $500 million to $1 billion$8.0 billion$8.0 billion$0
Firms $1 billion to $5 billion18180
RAUM of firms $1 billion to $5 billion$30.8 billion$30.8 billion$0
Firms $5 billion to $10 billion440
RAUM of firms $5 billion to $10 billion$22.1 billion$22.1 billion$0
Firms $10 billion and up110
RAUM of firms $10 billion and up$10.1 billion$10.1 billion$0

Concentration

How much of the market the largest advisers hold.

Concentration: independent RIAsAs of October 2, 2026.
Top 10 share of RAUM 40.7%
Top 100 share of RAUM 82.3%
MeasureIndependent RIAsSEC-registeredState-registered
Top 10 share of RAUM40.7%44.8%9.8%
Top 100 share of RAUM82.3%90.7%67.8%

How advisers are paid

Share of advisers reporting each form of compensation on Form ADV Item 5.E. A firm can report several.

How advisers are paid: independent RIAsAs of October 2, 2026.
Charge a percentage of assets 92.8%
Charge hourly fees 53.5%
Charge subscription fees 2.1%
Charge fixed fees 59.6%
Receive commissions 1.0%
Charge performance-based fees 5.8%
Other compensation 11.2%
MeasureIndependent RIAsSEC-registeredState-registered
Charge a percentage of assets92.8%98.9%90.2%
Charge hourly fees53.5%54.5%53.1%
Charge subscription fees2.1%2.8%1.9%
Charge fixed fees59.6%67.4%56.4%
Receive commissions1.0%0.6%1.2%
Charge performance-based fees5.8%5.6%5.8%
Other compensation11.2%17.4%8.6%

Custody

Advisers reporting custody of client cash or securities on Form ADV Item 9.

MeasureIndependent RIAsSEC-registeredState-registered
Have custody19.8%43.3%10.0%

Broker-dealer and other affiliations

From Form ADV Items 6 and 7.

MeasureIndependent RIAsSEC-registeredState-registered
Broker-dealer affiliated1.2%3.4%0.2%

New firms and successions

New registrations and firms reporting that they succeeded to another adviser's business (Form ADV Item 4).

MeasureIndependent RIAsSEC-registeredState-registered
New registrations712744
SuccessionsNo data0No data

Other measures

MeasureIndependent RIAsSEC-registeredState-registered
Firms reporting RAUM499170329
Discretionary RAUM$107.2 billion$97.9 billion$9.3 billion
CFP professionals559401158
25th percentile RAUM$12.5 million$150.6 million$6.0 million
75th percentile RAUM$153.1 million$422.5 million$50.3 million
90th percentile RAUM$389.1 million$1.3 billion$79.8 million
Average account size$328,066$337,342$258,026
Offer financial planning78.7%87.1%75.3%
RAUM growth, one yearNo data28.0%No data

As of October 2, 2026. Definitions of every measure are on the methodology page.

Cities

Cities with at least five independent RIAs.

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.