# RIA market data by state

As of October 2, 2026, independent RIAs based in California reported the most regulatory assets under management of any state, $1.5 trillion, and California also had the most independent RIAs, 3,221.

As of: 2026-10-02
Address: https://advisoriq.com/ria/states/

## Facts

- population: Independent wealth management RIAs: 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. Asset managers, private fund managers and pension consultants are not in the directory.
- growth_period: from: 2025-09-02, to: 2026-10-02
- states: code: CA, name: California, firms: 3221, raum: 1542940353989, raum_growth_1y: 0.220034071086558, independent_share_of_wealth_raum: 0.9262425589711234, median_raum: 58530475, url: https://advisoriq.com/ria/states/california/; code: NY, name: New York, firms: 1331, raum: 851238132394, raum_growth_1y: 0.174407200789333, independent_share_of_wealth_raum: 0.1441631659897578, median_raum: 64784258.5, url: https://advisoriq.com/ria/states/new-york/; code: TX, name: Texas, firms: 1789, raum: 805523856897, raum_growth_1y: 0.302634333060163, independent_share_of_wealth_raum: 0.7952169723210739, median_raum: 53787594, url: https://advisoriq.com/ria/states/texas/; code: IL, name: Illinois, firms: 842, raum: 622316417706, raum_growth_1y: 0.0860874793388862, independent_share_of_wealth_raum: 0.5865391835301421, median_raum: 78754210.5, url: https://advisoriq.com/ria/states/illinois/; code: KS, name: Kansas, firms: 220, raum: 542094330708, raum_growth_1y: 0.293956866098612, independent_share_of_wealth_raum: 0.9687175510149203, median_raum: 73608831, url: https://advisoriq.com/ria/states/kansas/; code: FL, name: Florida, firms: 1707, raum: 537934915033, raum_growth_1y: 0.259176417588573, independent_share_of_wealth_raum: 0.3498328577451515, median_raum: 53857716, url: https://advisoriq.com/ria/states/florida/; code: CO, name: Colorado, firms: 746, raum: 420047775483, raum_growth_1y: 0.243820627271181, independent_share_of_wealth_raum: 0.9653330398910713, median_raum: 64187290.5, url: https://advisoriq.com/ria/states/colorado/; code: MA, name: Massachusetts, firms: 779, raum: 406328652072, raum_growth_1y: 0.209255327408097, independent_share_of_wealth_raum: 0.5289027292450719, median_raum: 76746388.5, url: https://advisoriq.com/ria/states/massachusetts/; code: MO, name: Missouri, firms: 326, raum: 395514333566, raum_growth_1y: 0.567030770652521, independent_share_of_wealth_raum: 0.1540081484486913, median_raum: 81659085.5, url: https://advisoriq.com/ria/states/missouri/; code: OH, name: Ohio, firms: 837, raum: 374106160260, raum_growth_1y: 0.280167458855297, independent_share_of_wealth_raum: 0.81112621220209, median_raum: 81345410, url: https://advisoriq.com/ria/states/ohio/; code: PA, name: Pennsylvania, firms: 898, raum: 342416055104, raum_growth_1y: 0.182108197724475, independent_share_of_wealth_raum: 0.3824971461282061, median_raum: 81131944, url: https://advisoriq.com/ria/states/pennsylvania/; code: NJ, name: New Jersey, firms: 693, raum: 326712075357, raum_growth_1y: 0.176237253543146, independent_share_of_wealth_raum: 0.24798508181929751, median_raum: 62750048.5, url: https://advisoriq.com/ria/states/new-jersey/; code: MN, name: Minnesota, firms: 386, raum: 260816410727, raum_growth_1y: 0.157327474149962, independent_share_of_wealth_raum: 0.267639959647922, median_raum: 92700000, url: https://advisoriq.com/ria/states/minnesota/; code: GA, name: Georgia, firms: 681, raum: 236328650238, raum_growth_1y: 0.204756141063231, independent_share_of_wealth_raum: 0.6007075249877742, median_raum: 49354067, url: https://advisoriq.com/ria/states/georgia/; code: WA, name: Washington, firms: 590, raum: 204615176680, raum_growth_1y: 0.204672711757836, independent_share_of_wealth_raum: 0.9894621464535199, median_raum: 70000000, url: https://advisoriq.com/ria/states/washington/; code: MI, name: Michigan, firms: 636, raum: 189972938517, raum_growth_1y: 0.188610002258655, independent_share_of_wealth_raum: 0.8659462451005873, median_raum: 68562806, url: https://advisoriq.com/ria/states/michigan/; code: CT, name: Connecticut, firms: 406, raum: 163845199864, raum_growth_1y: 0.312288611464572, independent_share_of_wealth_raum: 0.7583745447306742, median_raum: 63559697, url: https://advisoriq.com/ria/states/connecticut/; code: VA, name: Virginia, firms: 640, raum: 159798798993, raum_growth_1y: 0.186603715585795, independent_share_of_wealth_raum: 0.7808338713146693, median_raum: 60230686.5, url: https://advisoriq.com/ria/states/virginia/; code: NC, name: North Carolina, firms: 608, raum: 134268418578, raum_growth_1y: 0.443951121495504, independent_share_of_wealth_raum: 0.5876182831728103, median_raum: 60820583.5, url: https://advisoriq.com/ria/states/north-carolina/; code: IN, name: Indiana, firms: 358, raum: 126195239899, raum_growth_1y: 0.168937223019159, independent_share_of_wealth_raum: 0.9245332589314788, median_raum: 68661874.5, url: https://advisoriq.com/ria/states/indiana/; code: MD, name: Maryland, firms: 436, raum: 114956563414, raum_growth_1y: 0.0897251647663113, independent_share_of_wealth_raum: 0.7529103200940547, median_raum: 74594335, url: https://advisoriq.com/ria/states/maryland/; code: AZ, name: Arizona, firms: 607, raum: 112085565467, raum_growth_1y: 0.279943341970076, independent_share_of_wealth_raum: 0.306812286068186, median_raum: 50110728, url: https://advisoriq.com/ria/states/arizona/; code: TN, name: Tennessee, firms: 363, raum: 104320615560, raum_growth_1y: 0.153285487052824, independent_share_of_wealth_raum: 0.7165001650908392, median_raum: 83042359.5, url: https://advisoriq.com/ria/states/tennessee/; code: OR, name: Oregon, firms: 336, raum: 100576986449, raum_growth_1y: 0.164803245817793, independent_share_of_wealth_raum: 0.9681556687569295, median_raum: 75050410, url: https://advisoriq.com/ria/states/oregon/; code: NE, name: Nebraska, firms: 116, raum: 97678268907, raum_growth_1y: 0.355009232978489, independent_share_of_wealth_raum: 0.8725781701557428, median_raum: 113390453, url: https://advisoriq.com/ria/states/nebraska/; code: AL, name: Alabama, firms: 151, raum: 94275774779, raum_growth_1y: 0.405201100876649, independent_share_of_wealth_raum: 0.8845609299882885, median_raum: 57390881, url: https://advisoriq.com/ria/states/alabama/; code: WI, name: Wisconsin, firms: 307, raum: 94018934018, raum_growth_1y: 0.181210571187589, independent_share_of_wealth_raum: 0.8168810860206208, median_raum: 99441000, url: https://advisoriq.com/ria/states/wisconsin/; code: UT, name: Utah, firms: 262, raum: 69179327714, raum_growth_1y: 0.263217453230083, independent_share_of_wealth_raum: 0.8496735446975726, median_raum: 68629885.5, url: https://advisoriq.com/ria/states/utah/; code: SC, name: South Carolina, firms: 283, raum: 58800578994, raum_growth_1y: 0.331478496753107, independent_share_of_wealth_raum: 0.06497168527038996, median_raum: 46000000, url: https://advisoriq.com/ria/states/south-carolina/; code: KY, name: Kentucky, firms: 148, raum: 45433853824, raum_growth_1y: 0.445226713953266, independent_share_of_wealth_raum: 0.9470959488629286, median_raum: 84078525, url: https://advisoriq.com/ria/states/kentucky/; code: ID, name: Idaho, firms: 150, raum: 40696097024, raum_growth_1y: 0.405815693161574, independent_share_of_wealth_raum: 0.9763369834741049, median_raum: 54386083, url: https://advisoriq.com/ria/states/idaho/; code: NV, name: Nevada, firms: 200, raum: 38669785527, raum_growth_1y: 0.471788065523481, independent_share_of_wealth_raum: 0.7823112440603087, median_raum: 54015076.5, url: https://advisoriq.com/ria/states/nevada/; code: LA, name: Louisiana, firms: 161, raum: 34668173713, raum_growth_1y: 0.227721722416309, independent_share_of_wealth_raum: 0.44053443004344717, median_raum: 70532969, url: https://advisoriq.com/ria/states/louisiana/; code: IA, name: Iowa, firms: 150, raum: 33456657909, raum_growth_1y: 0.0114170439499304, independent_share_of_wealth_raum: 0.14058237729617212, median_raum: 120250000, url: https://advisoriq.com/ria/states/iowa/; code: NH, name: New Hampshire, firms: 197, raum: 32407033623, raum_growth_1y: 0.241440548690756, independent_share_of_wealth_raum: 0.9852763726961575, median_raum: 77600000, url: https://advisoriq.com/ria/states/new-hampshire/; code: ME, name: Maine, firms: 84, raum: 29887512321, raum_growth_1y: 0.159628102005037, independent_share_of_wealth_raum: 0.9931449707183142, median_raum: 57825000, url: https://advisoriq.com/ria/states/maine/; code: OK, name: Oklahoma, firms: 165, raum: 29173409634, raum_growth_1y: -0.234615697367626, independent_share_of_wealth_raum: 0.9176166817703797, median_raum: 66119198, url: https://advisoriq.com/ria/states/oklahoma/; code: AR, name: Arkansas, firms: 115, raum: 27722522812, raum_growth_1y: 0.225343406329533, independent_share_of_wealth_raum: 0.5576122148573338, median_raum: 66014001.5, url: https://advisoriq.com/ria/states/arkansas/; code: RI, name: Rhode Island, firms: 72, raum: 20535432278, raum_growth_1y: 0.0940381219203619, independent_share_of_wealth_raum: 0.5909569995616681, median_raum: 124458300, url: https://advisoriq.com/ria/states/rhode-island/; code: VT, name: Vermont, firms: 59, raum: 17808809119, raum_growth_1y: 0.164661415576855, independent_share_of_wealth_raum: 0.8534169341254639, median_raum: 111321170, url: https://advisoriq.com/ria/states/vermont/; code: MS, name: Mississippi, firms: 58, raum: 14913110810, raum_growth_1y: 0.235205287098778, independent_share_of_wealth_raum: 0.9773808379228864, median_raum: 125498854.5, url: https://advisoriq.com/ria/states/mississippi/; code: DE, name: Delaware, firms: 59, raum: 11193613407, raum_growth_1y: -0.421875758587239, independent_share_of_wealth_raum: 0.9550987588771088, median_raum: 57100000, url: https://advisoriq.com/ria/states/delaware/; code: MT, name: Montana, firms: 77, raum: 10877548028, raum_growth_1y: 0.459989895272356, independent_share_of_wealth_raum: 0.20450320656875665, median_raum: 33685554, url: https://advisoriq.com/ria/states/montana/; code: DC, name: District of Columbia, firms: 40, raum: 7658077121, raum_growth_1y: 0.476497167793848, independent_share_of_wealth_raum: 0.518711814055524, median_raum: 65419561.5, url: https://advisoriq.com/ria/states/district-of-columbia/; code: WY, name: Wyoming, firms: 50, raum: 6703741497, raum_growth_1y: 0.904309251248356, independent_share_of_wealth_raum: 0.9932462608935019, median_raum: 40017351, url: https://advisoriq.com/ria/states/wyoming/; code: NM, name: New Mexico, firms: 66, raum: 6375889837, raum_growth_1y: 0.0442848622640517, independent_share_of_wealth_raum: 1, median_raum: 36665586, url: https://advisoriq.com/ria/states/new-mexico/; code: WV, name: West Virginia, firms: 31, raum: 6356991089, raum_growth_1y: -0.0151602357929952, independent_share_of_wealth_raum: 0.783092965351567, median_raum: 29478529, url: https://advisoriq.com/ria/states/west-virginia/; code: HI, name: Hawaii, firms: 58, raum: 5583566726, raum_growth_1y: 0.274750825435665, independent_share_of_wealth_raum: 1, median_raum: 32656581, url: https://advisoriq.com/ria/states/hawaii/; code: SD, name: South Dakota, firms: 42, raum: 5042200787, raum_growth_1y: 0.29891498512811, independent_share_of_wealth_raum: 1, median_raum: 41694265, url: https://advisoriq.com/ria/states/south-dakota/; code: PR, name: Puerto Rico, firms: 35, raum: 4617571217, raum_growth_1y: 1.04429953583504, independent_share_of_wealth_raum: 1, median_raum: 58991550, url: https://advisoriq.com/ria/states/puerto-rico/; code: ND, name: North Dakota, firms: 29, raum: 3046978353, raum_growth_1y: 0.243191949864797, independent_share_of_wealth_raum: 0.980240287220513, median_raum: 71553199, url: https://advisoriq.com/ria/states/north-dakota/; code: AK, name: Alaska, firms: 23, raum: 2308619415, raum_growth_1y: -0.106913214401227, independent_share_of_wealth_raum: 1, median_raum: 29167061.5, url: https://advisoriq.com/ria/states/alaska/; code: VI, name: U.S. Virgin Islands, firms: 7, raum: 97951602, raum_growth_1y: not stated, independent_share_of_wealth_raum: 1, median_raum: 9047010, url: https://advisoriq.com/ria/states/us-virgin-islands/; code: GU, name: Guam, firms: 0, raum: not stated, raum_growth_1y: not stated, independent_share_of_wealth_raum: not stated, median_raum: not stated, url: https://advisoriq.com/ria/states/guam/

## Notes

- SEC-registered independent RIAs' assets, September 2, 2025 to October 2, 2026.
- Firms are placed in the state of their main office.
- Independent share: independent RIAs' part of the regulatory assets of every wealth firm based in the state, broker-dealer affiliated firms included.

## Sources

- SEC, Information About Registered Investment Advisers (ia100226.zip), checked 2026-10-07: https://www.sec.gov/files/investment/data/other/information-about-registered-investment-advisers-exempt-reporting-advisers/ia100226.zip
- IAPD compilation reports (IA_FIRM_STATE_Feed_10_07_2026.xml.gz), checked 2026-10-07: https://adviserinfo.sec.gov/compilation

## Related

- [RIA industry data](https://advisoriq.com/ria/industry/)
- [RIA rankings](https://advisoriq.com/ria/rankings/)

## Cite as

AdvisorIQ, as of 2026-10-02. https://advisoriq.com/ria/states/

License: https://advisoriq.com/license/