State market data

Independent RIAs in District of Columbia

As of October 2, 2026, 40 independent wealth management RIAs based in District of Columbia reported $7.7 billion in regulatory assets under management; the largest by assets was Geometric Wealth Advisors, LLC, with $1.3 billion.

Include wirehouses and broker-dealer firms

Independent wealth management RIAs: 40
SEC-registered: 13
State-registered: 27
Regulatory assets under management: $7.7 billion
Client accounts: 11,065
Median firm size: $65.4 million
Broker-dealer affiliated firms, not included: 3, with $7.1 billion

District of Columbia requires IAR continuing education, in effect since 2023. Status from NASAA's IAR CE map, checked October 5, 2026. IAR CE in District of Columbia.

Top firms in District of Columbia

Largest independent RIAs by assets under management

Largest independent RIAs by assets under management in District of Columbia, top 10
Rank	Firm	City	RAUM
1	Geometric Wealth Advisors, LLC	Washington	$1.3 billion
2	Armstrong, Fleming & Moore, Inc.	Washington	$1.3 billion
3	Folger Nolan Fleming Douglas Capital Management, Inc.	Washington	$1.2 billion
4	Lynx Investment Advisory, LLC	Washington	$1.1 billion
5	Capital Investment Advisors	Washington D.C	$373.6 million
6	Bryspen, Incorporated	Washington	$329.3 million
7	Values Added Financial	Washington	$313.7 million
8	Burkholder & Associates, LLC	Washington	$287.4 million
9	Graham Capital Wealth Management, LLC	Washington	$251.2 million
10	Washington Growth Strategies LLC	Washington	$247.2 million

Top 100 in District of Columbia

Fastest-growing independent RIAs over one year

Fastest-growing independent RIAs over one year in District of Columbia, top 10
Rank	Firm	City	Growth	Starting value
1	Geometric Wealth Advisors, LLC	Washington	36.9%	$971.6 million
2	Values Added Financial	Washington	33.9%	$234.2 million
3	Burkholder & Associates, LLC	Washington	25.7%	$228.6 million
4	Armstrong, Fleming & Moore, Inc.	Washington	13.9%	$1.1 billion
5	Donalies Financial Planning, LLC	Washington	13.5%	$180.2 million
6	Bryspen, Incorporated	Washington	12.1%	$293.8 million
7	Graham Capital Wealth Management, LLC	Washington	11.2%	$225.9 million
8	MZ Capital, LLC	Washington	6.3%	$141.2 million
9	Washington Growth Strategies LLC	Washington	5.8%	$233.6 million
10	Folger Nolan Fleming Douglas Capital Management, Inc.	Washington	1.1%	$1.2 billion

Top 100 in District of Columbia

Fastest-growing independent RIAs over three years

Fastest-growing independent RIAs over three years in District of Columbia, top 10
Rank	Firm	City	Growth	Starting value
1	Values Added Financial	Washington	36.0%	$124.7 million
2	Geometric Wealth Advisors, LLC	Washington	31.3%	$587.4 million
3	Burkholder & Associates, LLC	Washington	25.4%	$145.7 million
4	Bryspen, Incorporated	Washington	14.4%	$220.2 million
5	Graham Capital Wealth Management, LLC	Washington	14.1%	$169.0 million
6	Armstrong, Fleming & Moore, Inc.	Washington	13.2%	$876.9 million
7	Washington Growth Strategies LLC	Washington	10.2%	$184.8 million
8	Lynx Investment Advisory, LLC	Washington	7.5%	$896.0 million
9	Capital Investment Advisors	Washington D.C	6.2%	$312.0 million
10	Folger Nolan Fleming Douglas Capital Management, Inc.	Washington	4.1%	$1.1 billion

Top 100 in District of Columbia

Fastest-growing independent RIAs over five years

Fastest-growing independent RIAs over five years in District of Columbia, top 10
Rank	Firm	City	Growth	Starting value
1	Geometric Wealth Advisors, LLC	Washington	26.5%	$410.0 million
2	Values Added Financial	Washington	24.3%	$105.8 million
3	Burkholder & Associates, LLC	Washington	15.4%	$140.6 million
4	Graham Capital Wealth Management, LLC	Washington	13.5%	$133.6 million
5	Bryspen, Incorporated	Washington	9.2%	$211.7 million
6	Washington Growth Strategies LLC	Washington	7.4%	$173.1 million
7	Armstrong, Fleming & Moore, Inc.	Washington	6.5%	$927.1 million
8	Lynx Investment Advisory, LLC	Washington	5.7%	$844.3 million
9	Folger Nolan Fleming Douglas Capital Management, Inc.	Washington	4.2%	$987.9 million
10	Capital Investment Advisors	Washington D.C	3.7%	$311.9 million

Top 100 in District of Columbia

Independent RIAs with the biggest asset gains over one year

Independent RIAs with the biggest asset gains over one year in District of Columbia, top 10
Rank	Firm	City	Increase
1	Geometric Wealth Advisors, LLC	Washington	$358.8 million
2	Armstrong, Fleming & Moore, Inc.	Washington	$155.1 million
3	Values Added Financial	Washington	$79.4 million
4	Burkholder & Associates, LLC	Washington	$58.8 million
5	Bryspen, Incorporated	Washington	$35.6 million
6	Graham Capital Wealth Management, LLC	Washington	$25.4 million
7	Donalies Financial Planning, LLC	Washington	$24.4 million
8	Atwood Financial Planning LLC	Washington	$15.8 million
9	Folger Nolan Fleming Douglas Capital Management, Inc.	Washington	$13.7 million
10	Washington Growth Strategies LLC	Washington	$13.6 million

Top 100 in District of Columbia

Independent RIAs with the most clients

Independent RIAs with the most clients in District of Columbia, top 10
Rank	Firm	City	Most clients
1	Atwood Financial Planning LLC	Washington	1,959
2	Folger Nolan Fleming Douglas Capital Management, Inc.	Washington	976
3	Graham Capital Wealth Management, LLC	Washington	710
4	Armstrong, Fleming & Moore, Inc.	Washington	558
5	Capital Investment Advisors	Washington D.C	437
6	Financial Advisor for You, LLC	Washington	340
7	Geometric Wealth Advisors, LLC	Washington	256
8	Lynx Investment Advisory, LLC	Washington	239
9	Valor Wealth Partners	Washington	211
10	Vivuto, LLC	Washington	176

Top 100 in District of Columbia

Independent RIAs with the fastest client growth over one year

Independent RIAs with the fastest client growth over one year in District of Columbia, top 10
Rank	Firm	City	Growth	Starting value
1	Graham Capital Wealth Management, LLC	Washington	15.4%	615
2	Donalies Financial Planning, LLC	Washington	10.3%	146
3	Geometric Wealth Advisors, LLC	Washington	8.0%	237
4	Armstrong, Fleming & Moore, Inc.	Washington	7.9%	517
5	Values Added Financial	Washington	7.5%	107
6	Atwood Financial Planning LLC	Washington	4.3%	1,878
7	Folger Nolan Fleming Douglas Capital Management, Inc.	Washington	0.8%	968
8	Lynx Investment Advisory, LLC	Washington	-3.2%	247
9	Capital Investment Advisors	Washington D.C	-28.4%	610
10	Bryspen, Incorporated	Washington	-54.1%	157

Top 100 in District of Columbia

Independent RIAs with the most accounts

Independent RIAs with the most accounts in District of Columbia, top 10
Rank	Firm	City	Most accounts
1	Geometric Wealth Advisors, LLC	Washington	2,081
2	Armstrong, Fleming & Moore, Inc.	Washington	1,841
3	Capital Investment Advisors	Washington D.C	1,640
4	Graham Capital Wealth Management, LLC	Washington	1,251
5	Values Added Financial	Washington	513
6	Folger Nolan Fleming Douglas Capital Management, Inc.	Washington	488
7	Donalies Financial Planning, LLC	Washington	460
8	Burkholder & Associates, LLC	Washington	404
9	Valor Wealth Partners	Washington	317
10	Bryspen, Incorporated	Washington	277

Top 100 in District of Columbia

Independent RIAs with the most advisory staff

Independent RIAs with the most advisory staff in District of Columbia, top 10
Rank	Firm	City	Most advisory staff
1	Armstrong, Fleming & Moore, Inc.	Washington	17
2	Lynx Investment Advisory, LLC	Washington	10
3	Geometric Wealth Advisors, LLC	Washington	9
3	Values Added Financial	Washington	9
5	Folger Nolan Fleming Douglas Capital Management, Inc.	Washington	7
5	Graham Capital Wealth Management, LLC	Washington	7
7	Atwood Financial Planning LLC	Washington	6
8	Capital Investment Advisors	Washington D.C	5
9	Donalies Financial Planning, LLC	Washington	4
10	Bryspen, Incorporated	Washington	2

Top 100 in District of Columbia

Independent RIAs with the most high net worth clients

Independent RIAs with the most high net worth clients in District of Columbia, top 10
Rank	Firm	City	Most high net worth clients
1	Folger Nolan Fleming Douglas Capital Management, Inc.	Washington	341
2	Atwood Financial Planning LLC	Washington	339
3	Armstrong, Fleming & Moore, Inc.	Washington	266
4	Geometric Wealth Advisors, LLC	Washington	239
5	Donalies Financial Planning, LLC	Washington	115
6	Capital Investment Advisors	Washington D.C	107
7	Lynx Investment Advisory, LLC	Washington	97
8	Values Added Financial	Washington	74
9	Burkholder & Associates, LLC	Washington	70
10	Graham Capital Wealth Management, LLC	Washington	62

Top 100 in District of Columbia

Independent RIAs with the most CFP professionals

Independent RIAs with the most CFP professionals in District of Columbia, top 10
Rank	Firm	City	Most CFP professionals
1	Armstrong, Fleming & Moore, Inc.	Washington	11
2	Values Added Financial	Washington	5
3	Geometric Wealth Advisors, LLC	Washington	4
4	Lynx Investment Advisory, LLC	Washington	3
4	Donalies Financial Planning, LLC	Washington	3
6	Atwood Financial Planning LLC	Washington	2
6	Burkholder & Associates, LLC	Washington	2
6	Capital Area Planning Group	Washington	2
9	Financial Advisor for You, LLC	Washington	1
9	Mabery Consulting, LLC	Washington	1

Top 100 in District of Columbia

Newest independent RIAs

Newest independent RIAs in District of Columbia, top 10
Rank	Firm	City	Amount
1	Capital Area Planning Group	Washington	$64.8 million
2	Blu Capital	Washington	$0
2	Rockbound Capital LLC	Washington	$0
2	Tempus Wealth Partners	Washington	$0
2	Artha Investments L.L.C.	Washington	$0
2	Greenhouse Investments LLC	Washington	$0

Top 100 in District of Columbia

Over time

From the SEC's yearly files: SEC-registered independent RIAs based in District of Columbia, 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.

Data table

Firms
As of	Firms
October 1, 2018	10
October 1, 2019	9
October 1, 2020	11
October 4, 2021	8
October 3, 2022	12
October 5, 2023	10
October 1, 2024	12
September 2, 2025	9
October 2, 2026	13

Regulatory assets under managementSEC-registered independent RIAs. 9 snapshots, October 1, 2018 to October 2, 2026.

Data table

Regulatory assets under management
As of	Regulatory assets under management
October 1, 2018	$6.0 billion
October 1, 2019	$4.6 billion
October 1, 2020	$5.3 billion
October 4, 2021	$5.8 billion
October 3, 2022	$6.4 billion
October 5, 2023	$4.0 billion
October 1, 2024	$4.8 billion
September 2, 2025	$4.8 billion
October 2, 2026	$7.1 billion

Client accountsSEC-registered independent RIAs. 9 snapshots, October 1, 2018 to October 2, 2026.

Data table

Client accounts
As of	Client accounts
October 1, 2018	6,446
October 1, 2019	5,116
October 1, 2020	5,852
October 4, 2021	5,452
October 3, 2022	6,599
October 5, 2023	5,507
October 1, 2024	5,928
September 2, 2025	6,373
October 2, 2026	9,385

Median firm size (RAUM)SEC-registered independent RIAs. 9 snapshots, October 1, 2018 to October 2, 2026.

Data table

Median firm size (RAUM)
As of	Median firm size (RAUM)
October 1, 2018	$477.9 million
October 1, 2019	$205.6 million
October 1, 2020	$232.4 million
October 4, 2021	$619.5 million
October 3, 2022	$263.0 million
October 5, 2023	$202.5 million
October 1, 2024	$201.0 million
September 2, 2025	$293.8 million
October 2, 2026	$313.7 million

The market in District of Columbia now

Headline figures

Headline figures, as of October 2, 2026
Measure	Independent RIAs	SEC-registered	State-registered
Firms	40	13	27
Regulatory assets under management	$7.7 billion	$7.1 billion	$555.5 million
Accounts	11,065	9,385	1,680
Clients	7,077	5,687	1,390
Employees	168	129	39
Advisory employees	112	81	31
Investment adviser representatives	107	74	33
Median RAUM	$65.4 million	$313.7 million	$25.4 million
Average RAUM	$255.3 million	$546.3 million	$32.7 million

Firms by size

Advisers grouped by regulatory assets under management.

Firms by size, as of October 2, 2026
Measure	Independent RIAs	SEC-registered	State-registered
Firms under $100 million	18	1	17
RAUM of firms under $100 million	$571.3 million	$15.8 million	$555.5 million
Firms $100 million to $250 million	3	3	0
RAUM of firms $100 million to $250 million	$601.9 million	$601.9 million	$0
Firms $250 million to $500 million	5	5	0
RAUM of firms $250 million to $500 million	$1.6 billion	$1.6 billion	$0
Firms $500 million to $1 billion	0	0	0
RAUM of firms $500 million to $1 billion	$0	$0	$0
Firms $1 billion to $5 billion	4	4	0
RAUM of firms $1 billion to $5 billion	$4.9 billion	$4.9 billion	$0
Firms $5 billion to $10 billion	0	0	0
RAUM of firms $5 billion to $10 billion	$0	$0	$0
Firms $10 billion and up	0	0	0
RAUM of firms $10 billion and up	$0	$0	$0

Concentration

How much of the market the largest advisers hold.

Concentration, as of October 2, 2026
Measure	Independent RIAs	SEC-registered	State-registered
Top 10 share of RAUM	87.9%	94.8%	90.2%

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.
Measure	Bar	Value
Charge a percentage of assets		87.5%
Charge hourly fees		45.0%
Charge subscription fees		2.5%
Charge fixed fees		60.0%
Receive commissions		2.5%
Charge performance-based fees		10.0%
Other compensation		5.0%

How advisers are paid, as of October 2, 2026
Measure	Independent RIAs	SEC-registered	State-registered
Charge a percentage of assets	87.5%	92.3%	85.2%
Charge hourly fees	45.0%	53.8%	40.7%
Charge subscription fees	2.5%	0.0%	3.7%
Charge fixed fees	60.0%	69.2%	55.6%
Receive commissions	2.5%	7.7%	0.0%
Charge performance-based fees	10.0%	15.4%	7.4%
Other compensation	5.0%	0.0%	7.4%

Custody

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

Custody, as of October 2, 2026
Measure	Independent RIAs	SEC-registered	State-registered
Have custody	17.5%	46.2%	3.7%

Broker-dealer and other affiliations

From Form ADV Items 6 and 7.

Broker-dealer and other affiliations, as of October 2, 2026
Measure	Independent RIAs	SEC-registered	State-registered
Broker-dealer affiliated	2.5%	7.7%	0.0%

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	Independent RIAs	SEC-registered	State-registered
New registrations	6	0	6
Successions	No data	0	No data

Other measures

Other measures, as of October 2, 2026
Measure	Independent RIAs	SEC-registered	State-registered
Firms reporting RAUM	30	13	17
Discretionary RAUM	$6.5 billion	$5.9 billion	$540.4 million
CFP professionals	38	30	8
25th percentile RAUM	$20.2 million	$247.2 million	$8.6 million
75th percentile RAUM	$278.3 million	$1.1 billion	$63.5 million
90th percentile RAUM	$1.1 billion	$1.3 billion	$66.1 million
Average account size	$692,099	$756,796	$330,684
Offer financial planning	70.0%	84.6%	63.0%
RAUM growth, one year	No data	47.6%	No data

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

Cities

Washington 38 independent RIAs, $7.3 billion

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.