State market data

Wealth management firms in Arizona

As of October 2, 2026, 620 wealth management firms, including broker-dealer firms, based in Arizona reported $365.3 billion in regulatory assets under management; the largest by assets was Osaic Wealth, Inc., with $234.9 billion.

Showing all wealth firms, including wirehouses and broker-dealer firms. Independent RIAs only

Wealth management firms: 620
SEC-registered: 184
State-registered: 436
Regulatory assets under management: $365.3 billion
Client accounts: 1,249,287
Median firm size: $51.0 million
Of which broker-dealer affiliated: 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 wealth firms by assets under management, including broker-dealer firms

Largest wealth firms by assets under management, including broker-dealer firms in Arizona, top 10
Rank	Firm	City	RAUM
1	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	$234.9 billion
2	United Planners' Financial Services of America A Limited Partner 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	$12.8 billion
3	Foundations Investment Advisors LLC	Phoenix	$10.1 billion
4	Ashton Thomas Private Wealth	Scottsdale	$6.0 billion
5	Dynamic	Phoenix	$5.6 billion
6	Tci Wealth Advisors, Inc.	Tucson	$5.4 billion
7	Tfo Family Office Partners	Phoenix	$5.0 billion
8	Stoker Ostler, A Part of BMO Financial Group 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	$3.7 billion
9	PFG Advisors	Phoenix	$3.3 billion
10	Trek Financial	Scottsdale	$2.8 billion

Top 100 in Arizona

Fastest-growing wealth firms over one year, including broker-dealer firms

Fastest-growing wealth firms over one year, including broker-dealer firms in Arizona, top 10
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 wealth firms over three years, including broker-dealer firms

Fastest-growing wealth firms over three years, including broker-dealer firms in Arizona, top 10
Rank	Firm	City	Growth	Starting value
1	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	99.6%	$29.5 billion
2	Fortitude Family Office	Scottsdale	59.9%	$310.4 million
3	Ashton Thomas Private Wealth	Scottsdale	44.2%	$2.0 billion
4	Arq Wealth Advisors, LLC	Scottsdale	42.4%	$420.0 million
5	AWM Capital, LLC	Phoenix	41.0%	$530.9 million
6	Strategy Financial Group	Phoenix	39.3%	$135.8 million
7	Foundations Investment Advisors LLC	Phoenix	39.0%	$3.8 billion
8	Eaton-Cambridge Inc.	Phoenix	36.2%	$190.1 million
9	Trajan Wealth, L.L.C.	Scottsdale	35.2%	$1.1 billion
10	Verus Capital Partners, LLC	Scottsdale	34.2%	$948.2 million

Top 100 in Arizona

Fastest-growing wealth firms over five years, including broker-dealer firms

Fastest-growing wealth firms over five years, including broker-dealer firms in Arizona, top 10
Rank	Firm	City	Growth	Starting value
1	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	62.6%	$20.7 billion
2	Ashton Thomas Private Wealth	Scottsdale	43.3%	$994.5 million
3	AWM Capital, LLC	Phoenix	40.9%	$268.0 million
4	Foundations Investment Advisors LLC	Phoenix	39.0%	$1.9 billion
5	Balboa Wealth Partners, Inc.	Scottsdale	35.8%	$231.5 million
6	Harmony Asset Management LLC	Scottsdale	33.5%	$108.9 million
7	Trajan Wealth, L.L.C.	Scottsdale	31.8%	$653.7 million
8	Eaton-Cambridge Inc.	Phoenix	29.5%	$132.0 million
9	Strategy Financial Group	Phoenix	26.6%	$112.6 million
10	Arq Wealth Advisors, LLC	Scottsdale	25.8%	$384.7 million

Top 100 in Arizona

Wealth firms with the biggest asset gains over one year, including broker-dealer firms

Wealth firms with the biggest asset gains over one year, including broker-dealer firms in Arizona, top 10
Rank	Firm	City	Increase
1	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	$34.6 billion
2	Foundations Investment Advisors LLC	Phoenix	$2.9 billion
3	Xcelsior Advisor Partners LLC	Scottsdale	$2.4 billion
4	United Planners' Financial Services of America A Limited Partner 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	$2.1 billion
5	Ashton Thomas Private Wealth	Scottsdale	$2.0 billion
6	Tfo Family Office Partners	Phoenix	$869.6 million
7	Tci Wealth Advisors, Inc.	Tucson	$840.9 million
8	Trajan Wealth, L.L.C.	Scottsdale	$632.1 million
9	Versant Capital Management, Inc.	Phoenix	$571.7 million
10	Stoker Ostler, A Part of BMO Financial Group 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	$569.6 million

Top 100 in Arizona

Wealth firms with the most clients, including broker-dealer firms

Wealth firms with the most clients, including broker-dealer firms in Arizona, top 10
Rank	Firm	City	Most clients
1	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	632,172
2	United Planners' Financial Services of America A Limited Partner 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	30,852
3	Foundations Investment Advisors LLC	Phoenix	29,663
4	Trajan Wealth, L.L.C.	Scottsdale	10,633
5	PFG Advisors	Phoenix	7,602
6	Dynamic	Phoenix	5,690
7	Verus Capital Partners, LLC	Scottsdale	5,642
8	Trek Financial	Scottsdale	4,688
9	Brookwood Investment Group	Phoenix	3,506
10	Tci Wealth Advisors, Inc.	Tucson	3,287

Top 100 in Arizona

Wealth firms with the fastest client growth over one year, including broker-dealer firms

Wealth firms with the fastest client growth over one year, including broker-dealer firms in Arizona, top 10
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

Wealth firms with the most accounts, including broker-dealer firms

Wealth firms with the most accounts, including broker-dealer firms in Arizona, top 10
Rank	Firm	City	Most accounts
1	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	850,797
2	Foundations Investment Advisors LLC	Phoenix	63,604
3	United Planners' Financial Services of America A Limited Partner 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	47,883
4	Trajan Wealth, L.L.C.	Scottsdale	18,370
5	Dynamic	Phoenix	15,179
6	PFG Advisors	Phoenix	13,982
7	Tci Wealth Advisors, Inc.	Tucson	11,863
8	Trek Financial	Scottsdale	10,768
9	Ashton Thomas Private Wealth	Scottsdale	7,879
10	Verus Capital Partners, LLC	Scottsdale	7,289

Top 100 in Arizona

Wealth firms with the most advisory staff, including broker-dealer firms

Wealth firms with the most advisory staff, including broker-dealer firms in Arizona, top 10
Rank	Firm	City	Most advisory staff
1	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	7,143
2	United Planners' Financial Services of America A Limited Partner 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	546
3	Foundations Investment Advisors LLC	Phoenix	289
4	PFG Advisors	Phoenix	86
5	Dynamic	Phoenix	65
6	Ashton Thomas Private Wealth	Scottsdale	63
7	Trek Financial	Scottsdale	55
8	Tfo Family Office Partners	Phoenix	47
9	Trajan Wealth, L.L.C.	Scottsdale	46
10	Tci Wealth Advisors, Inc.	Tucson	45

Top 100 in Arizona

Wealth firms with the most high net worth clients, including broker-dealer firms

Wealth firms with the most high net worth clients, including broker-dealer firms in Arizona, top 10
Rank	Firm	City	Most high net worth clients
1	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	55,457
2	Foundations Investment Advisors LLC	Phoenix	6,047
3	United Planners' Financial Services of America A Limited Partner 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	4,880
4	Dynamic	Phoenix	1,813
5	Tci Wealth Advisors, Inc.	Tucson	1,290
6	Ashton Thomas Private Wealth	Scottsdale	1,198
7	Trajan Wealth, L.L.C.	Scottsdale	1,035
8	Stoker Ostler, A Part of BMO Financial Group 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	945
9	PFG Advisors	Phoenix	735
10	Trek Financial	Scottsdale	670

Top 100 in Arizona

Wealth firms with the most CFP professionals, including broker-dealer firms

Wealth firms with the most CFP professionals, including broker-dealer firms in Arizona, top 10
Rank	Firm	City	Most CFP professionals
1	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	1,539
2	United Planners' Financial Services of America A Limited Partner 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	81
3	Foundations Investment Advisors LLC	Phoenix	31
4	Tci Wealth Advisors, Inc.	Tucson	29
5	Dynamic	Phoenix	22
6	Ashton Thomas Private Wealth	Scottsdale	17
7	PFG Advisors	Phoenix	15
8	Dew Wealth Management	Scottsdale	14
9	Tfo Family Office Partners	Phoenix	13
10	Stoker Ostler, A Part of BMO Financial Group 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	11

Top 100 in Arizona

Newest wealth firms, including broker-dealer firms

Newest wealth firms, including broker-dealer firms in Arizona, top 10
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 wealth firms based in Arizona, from October 2018, each snapshot classed from its own Form ADV answers.

FirmsSEC-registered wealth firms, including broker-dealer firms. 9 snapshots, October 1, 2018 to October 2, 2026.

Data table

Firms
As of	Firms
October 1, 2018	101
October 1, 2019	108
October 1, 2020	112
October 4, 2021	123
October 3, 2022	127
October 5, 2023	134
October 1, 2024	141
September 2, 2025	149
October 2, 2026	184

Regulatory assets under managementSEC-registered wealth firms, including broker-dealer firms. 9 snapshots, October 1, 2018 to October 2, 2026.

Data table

Regulatory assets under management
As of	Regulatory assets under management
October 1, 2018	$47.8 billion
October 1, 2019	$50.7 billion
October 1, 2020	$60.9 billion
October 4, 2021	$71.9 billion
October 3, 2022	$89.8 billion
October 5, 2023	$65.6 billion
October 1, 2024	$178.1 billion
September 2, 2025	$296.1 billion
October 2, 2026	$355.0 billion

Client accountsSEC-registered wealth firms, including broker-dealer firms. 9 snapshots, October 1, 2018 to October 2, 2026.

Data table

Client accounts
As of	Client accounts
October 1, 2018	159,357
October 1, 2019	190,380
October 1, 2020	214,673
October 4, 2021	269,842
October 3, 2022	338,421
October 5, 2023	262,746
October 1, 2024	733,233
September 2, 2025	1,096,575
October 2, 2026	1,209,216

Median firm size (RAUM)SEC-registered wealth firms, including broker-dealer firms. 9 snapshots, October 1, 2018 to October 2, 2026.

Data table

Median firm size (RAUM)
As of	Median firm size (RAUM)
October 1, 2018	$226.6 million
October 1, 2019	$229.4 million
October 1, 2020	$229.7 million
October 4, 2021	$252.6 million
October 3, 2022	$258.7 million
October 5, 2023	$219.8 million
October 1, 2024	$260.8 million
September 2, 2025	$270.8 million
October 2, 2026	$247.4 million

The market in Arizona now

Headline figures

Headline figures, as of October 2, 2026
Measure	All wealth firms	SEC-registered	State-registered
Firms	620	184	436
Regulatory assets under management	$365.3 billion	$355.0 billion	$10.4 billion
Accounts	1,249,287	1,209,216	40,071
Clients	836,078	810,600	25,478
Employees	12,794	12,077	717
Advisory employees	9,933	9,334	599
Investment adviser representatives	10,793	10,191	602
Median RAUM	$51.0 million	$247.4 million	$21.2 million
Average RAUM	$719.1 million	$2.0 billion	$31.2 million

Firms by size

Advisers grouped by regulatory assets under management.

Firms by size, as of October 2, 2026
Measure	All wealth firms	SEC-registered	State-registered
Firms under $100 million	335	9	326
RAUM of firms under $100 million	$10.2 billion	$485.7 million	$9.7 billion
Firms $100 million to $250 million	86	80	6
RAUM of firms $100 million to $250 million	$14.0 billion	$13.4 billion	$624.6 million
Firms $250 million to $500 million	49	49	0
RAUM of firms $250 million to $500 million	$17.5 billion	$17.5 billion	$0
Firms $500 million to $1 billion	11	11	0
RAUM of firms $500 million to $1 billion	$8.0 billion	$8.0 billion	$0
Firms $1 billion to $5 billion	20	20	0
RAUM of firms $1 billion to $5 billion	$35.8 billion	$35.8 billion	$0
Firms $5 billion to $10 billion	4	4	0
RAUM of firms $5 billion to $10 billion	$22.1 billion	$22.1 billion	$0
Firms $10 billion and up	3	3	0
RAUM of firms $10 billion and up	$257.7 billion	$257.7 billion	$0

Concentration

How much of the market the largest advisers hold.

Concentration: all wealth firmsAs of October 2, 2026.
Measure	Bar	Value
Top 10 share of RAUM		79.3%
Top 100 share of RAUM		94.2%

Concentration, as of October 2, 2026
Measure	All wealth firms	SEC-registered	State-registered
Top 10 share of RAUM	79.3%	81.6%	9.8%
Top 100 share of RAUM	94.2%	97.0%	67.5%

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: all wealth firmsAs of October 2, 2026.
Measure	Bar	Value
Charge a percentage of assets		92.6%
Charge hourly fees		53.9%
Charge subscription fees		2.1%
Charge fixed fees		59.7%
Receive commissions		1.5%
Charge performance-based fees		5.8%
Other compensation		11.3%

How advisers are paid, as of October 2, 2026
Measure	All wealth firms	SEC-registered	State-registered
Charge a percentage of assets	92.6%	98.9%	89.9%
Charge hourly fees	53.9%	54.9%	53.4%
Charge subscription fees	2.1%	2.7%	1.8%
Charge fixed fees	59.7%	67.9%	56.2%
Receive commissions	1.5%	1.6%	1.4%
Charge performance-based fees	5.8%	5.4%	6.0%
Other compensation	11.3%	16.8%	8.9%

Custody

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

Custody, as of October 2, 2026
Measure	All wealth firms	SEC-registered	State-registered
Have custody	20.0%	43.5%	10.1%

Broker-dealer and other affiliations

From Form ADV Items 6 and 7.

Broker-dealer and other affiliations, as of October 2, 2026
Measure	All wealth firms	SEC-registered	State-registered
Broker-dealer affiliated	2.7%	5.4%	1.6%

New firms and successions

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

New firms and successions, as of October 2, 2026
Measure	All wealth firms	SEC-registered	State-registered
New registrations	71	27	44
Successions	No data	0	No data

Other measures

Other measures, as of October 2, 2026
Measure	All wealth firms	SEC-registered	State-registered
Firms reporting RAUM	508	176	332
Discretionary RAUM	$273.8 billion	$264.4 billion	$9.3 billion
CFP professionals	2,192	2,033	159
25th percentile RAUM	$12.6 million	$150.8 million	$6.0 million
75th percentile RAUM	$157.8 million	$447.0 million	$50.3 million
90th percentile RAUM	$407.6 million	$1.4 billion	$79.4 million
Average account size	$292,425	$293,539	$258,827
Offer financial planning	78.5%	87.0%	75.0%
RAUM growth, one year	No data	19.9%	No data

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

Cities

Scottsdale 177 independent RIAs, $42.6 billion
Phoenix 106 independent RIAs, $35.4 billion
Tucson 62 independent RIAs, $15.3 billion
Gilbert 36 independent RIAs, $3.5 billion
Tempe 21 independent RIAs, $2.6 billion
Chandler 27 independent RIAs, $2.6 billion
Mesa 35 independent RIAs, $2.4 billion
Peoria 14 independent RIAs, $1.0 billion
Flagstaff 7 independent RIAs, $784.5 million
Surprise 8 independent RIAs, $713.6 million
Prescott 12 independent RIAs, $652.1 million
Fountain Hills 8 independent RIAs, $643.6 million
Glendale 13 independent RIAs, $528.0 million
Cave Creek 7 independent RIAs, $306.5 million
Paradise Valley 8 independent RIAs, $205.3 million
Marana 6 independent RIAs, $170.8 million

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.