State market data

Wealth management firms in Maryland

As of October 2, 2026, 447 wealth management firms, including broker-dealer firms, based in Maryland reported $152.7 billion in regulatory assets under management; the largest by assets was 1919 Investment Counsel, LLC, with $26.0 billion.

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

Wealth management firms: 447
SEC-registered: 153
State-registered: 294
Regulatory assets under management: $152.7 billion
Client accounts: 226,439
Median firm size: $75.3 million
Of which broker-dealer affiliated: 11, with $37.7 billion

Maryland requires IAR continuing education, in effect since 2022. Status from NASAA's IAR CE map, checked October 5, 2026. IAR CE in Maryland.

Top firms in Maryland

Largest wealth firms by assets under management, including broker-dealer firms

Largest wealth firms by assets under management, including broker-dealer firms in Maryland, top 10
Rank	Firm	City	RAUM
1	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	$26.0 billion
2	D.F. Dent and Company, Inc.	Baltimore	$7.9 billion
3	Greenspring Advisors, LLC	Towson	$6.5 billion
4	T. Rowe Price 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.	Owings Mills	$5.9 billion
5	Pennington Partners & Co., LLC	Bethesda	$5.1 billion
6	Prosperity - An Eisneramper Company	Owings Mills	$5.0 billion
7	Heritage Investors Management Corp	Bethesda	$4.6 billion
8	Verdence Capital Advisors, LLC	Hunt Valley	$4.6 billion
9	Founders Financial 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.	Towson	$4.1 billion
10	XML Financial Group	Bethesda	$3.3 billion

Top 100 in Maryland

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

Fastest-growing wealth firms over one year, including broker-dealer firms in Maryland, top 10
Rank	Firm	City	Growth	Starting value
1	Tritonpoint Partners, LLC	Chevy Chase	159.6%	$110.3 million
2	MDRN Capital	Annapolis	110.5%	$160.9 million
3	Catoctin Ridge Wealth Partner	Thurmont	94.5%	$102.3 million
4	Prosperity - An Eisneramper Company	Owings Mills	72.9%	$2.9 billion
5	Greenspring Advisors, LLC	Towson	71.2%	$3.8 billion
6	Capital Squared Financial LLC	Rockville	62.7%	$122.1 million
7	Beacon Investment Advisors LLC	Gaithersburg	60.5%	$337.6 million
8	T. Rowe Price 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.	Owings Mills	52.8%	$3.9 billion
9	PKS Investment Advisors LLC	Salisbury	51.5%	$242.4 million
10	RMG Advisors	Rockville	46.1%	$137.2 million

Top 100 in Maryland

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

Fastest-growing wealth firms over three years, including broker-dealer firms in Maryland, top 10
Rank	Firm	City	Growth	Starting value
1	T. Rowe Price 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.	Owings Mills	62.6%	$1.4 billion
2	Pennington Partners & Co., LLC	Bethesda	44.0%	$1.7 billion
3	Lombard Advisers 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.	Baltimore	37.5%	$257.7 million
4	Black Diamond Financial, LLC	Lutherville	35.9%	$545.9 million
5	Beacon Investment Advisors LLC	Gaithersburg	35.1%	$219.9 million
6	PKS Investment Advisors LLC	Salisbury	35.0%	$149.2 million
7	Buttonwood Financial Advisors, Inc.	Baltimore	33.5%	$203.2 million
8	HF Advisory Group, LLC	Annapolis	33.4%	$135.6 million
9	Bluestone® Financial Advisors, LLC	Bethesda	27.4%	$100.3 million
10	Valuewealth Services, LLC	Annapolis	25.6%	$161.1 million

Top 100 in Maryland

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

Fastest-growing wealth firms over five years, including broker-dealer firms in Maryland, top 10
Rank	Firm	City	Growth	Starting value
1	Prosperity - An Eisneramper Company	Owings Mills	72.0%	$334.6 million
2	T. Rowe Price 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.	Owings Mills	51.9%	$728.8 million
3	Pennington Partners & Co., LLC	Bethesda	35.6%	$1.1 billion
4	Buttonwood Financial Advisors, Inc.	Baltimore	29.8%	$131.1 million
5	The Marshall Financial Group LLC	Hunt Valley	28.7%	$208.3 million
6	Prostatis Financial Advisors Group	Hanover	27.6%	$179.0 million
7	Lombard Advisers 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.	Baltimore	27.1%	$202.1 million
8	Macroview Investment Management LLC	Bethesda	23.0%	$137.4 million
9	Black Diamond Financial, LLC	Lutherville	22.9%	$488.6 million
10	Sandbox Financial Partners, LLC	Bethesda	21.9%	$252.8 million

Top 100 in Maryland

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 Maryland, top 10
Rank	Firm	City	Increase
1	Greenspring Advisors, LLC	Towson	$2.7 billion
2	Prosperity - An Eisneramper Company	Owings Mills	$2.1 billion
3	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	$2.1 billion
4	T. Rowe Price 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.	Owings Mills	$2.0 billion
5	Pennington Partners & Co., LLC	Bethesda	$1.1 billion
6	Founders Financial 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.	Towson	$817.3 million
7	Verdence Capital Advisors, LLC	Hunt Valley	$715.4 million
8	Baltimore-Washington Financial Advisors	Columbia	$490.5 million
9	Heritage Investors Management Corp	Bethesda	$451.7 million
10	Black Diamond Financial, LLC	Lutherville	$326.5 million

Top 100 in Maryland

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

Wealth firms with the most clients, including broker-dealer firms in Maryland, top 10
Rank	Firm	City	Most clients
1	T. Rowe Price 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.	Owings Mills	13,517
2	Founders Financial 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.	Towson	9,870
3	Baltimore-Washington Financial Advisors	Columbia	5,301
4	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	5,175
5	Retirement Management Systems	Leonardtown	3,071
6	XML Financial Group	Bethesda	2,974
7	Scarborough Capital Management	Annapolis	2,674
8	Prosperity - An Eisneramper Company	Owings Mills	2,621
9	Greenspring Advisors, LLC	Towson	1,905
10	Verdence Capital Advisors, LLC	Hunt Valley	1,876

Top 100 in Maryland

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 Maryland, top 10
Rank	Firm	City	Growth	Starting value
1	Tred Avon Family Wealth, LLC	Easton	129.9%	177
2	Montgomery Financial	Ocean City	74.7%	545
3	Valuewealth Services, LLC	Annapolis	73.6%	242
4	Atcap Partners, 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.	Rockville	60.1%	218
5	Greenspring Advisors, LLC	Towson	48.9%	1,279
6	Prosperity - An Eisneramper Company	Owings Mills	44.6%	1,813
7	MDRN Capital	Annapolis	41.5%	402
8	T. Rowe Price 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.	Owings Mills	35.0%	10,014
9	Red Oak Financial Group	Towson	34.3%	895
10	Glashofer Financial Advisors	Potomac	33.1%	124

Top 100 in Maryland

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

Wealth firms with the most accounts, including broker-dealer firms in Maryland, top 10
Rank	Firm	City	Most accounts
1	Founders Financial 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.	Towson	19,082
2	T. Rowe Price 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.	Owings Mills	13,518
3	Verdence Capital Advisors, LLC	Hunt Valley	7,802
4	Prosperity - An Eisneramper Company	Owings Mills	7,473
5	Greenspring Advisors, LLC	Towson	7,119
6	XML Financial Group	Bethesda	5,987
7	Baltimore-Washington Financial Advisors	Columbia	5,301
8	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	5,169
9	Innovative Wealth Building LLC	California	4,646
10	Retirement Management Systems	Leonardtown	4,472

Top 100 in Maryland

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

Wealth firms with the most advisory staff, including broker-dealer firms in Maryland, top 10
Rank	Firm	City	Most advisory staff
1	Founders Financial 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.	Towson	101
2	T. Rowe Price 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.	Owings Mills	66
3	Prosperity - An Eisneramper Company	Owings Mills	60
4	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	52
5	Greenspring Advisors, LLC	Towson	39
6	Lombard Advisers 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.	Baltimore	30
7	Verdence Capital Advisors, LLC	Hunt Valley	29
8	Bull Harbor Capital LLC.	Bethesda	28
9	XML Financial Group	Bethesda	26
10	Atcap Partners, 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.	Rockville	23

Top 100 in Maryland

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 Maryland, top 10
Rank	Firm	City	Most high net worth clients
1	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	2,653
2	Founders Financial 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.	Towson	1,466
3	Greenspring Advisors, LLC	Towson	1,118
4	Prosperity - An Eisneramper Company	Owings Mills	995
5	D.F. Dent and Company, Inc.	Baltimore	903
6	Baltimore-Washington Financial Advisors	Columbia	872
7	XML Financial Group	Bethesda	833
8	Verdence Capital Advisors, LLC	Hunt Valley	755
9	Scarborough Capital Management	Annapolis	732
10	Heritage Investors Management Corp	Bethesda	585

Top 100 in Maryland

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

Wealth firms with the most CFP professionals, including broker-dealer firms in Maryland, top 10
Rank	Firm	City	Most CFP professionals
1	T. Rowe Price 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.	Owings Mills	83
2	Founders Financial 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.	Towson	31
3	Greenspring Advisors, LLC	Towson	29
4	Prosperity - An Eisneramper Company	Owings Mills	17
5	Financial Consulate	Hunt Valley	13
6	XML Financial Group	Bethesda	11
7	Verdence Capital Advisors, LLC	Hunt Valley	10
8	SC&H Wealth	Hunt Valley	9
8	Berman McAleer	Timonium	9
10	FBB Capital Partners	Bethesda	8

Top 100 in Maryland

Newest wealth firms, including broker-dealer firms

Newest wealth firms, including broker-dealer firms in Maryland, top 10
Rank	Firm	City	Amount
1	Williams Asset Management	Columbia	$661.1 million
2	CJC Wealth Management	Olney	$121.9 million
3	Sera Capital Management, LLC	Annapolis	$114.3 million
4	Oxford Planning Group, LLC	Woodstock	$112.9 million
5	Snyder Asset Management, LLC	Hunt Valley	$112.3 million
6	One Oak	North Bethesda	$110.4 million
7	A. J. Perry & Co.	Towson	$108.8 million
7	Northbrook Financial	Baltimore	$108.8 million
9	Safe Harbor Retirement Planners	Abingdon	$108.7 million
10	Cobalt Financial Partners LLC	Sykesville	$108.1 million

Top 100 in Maryland

Over time

From the SEC's yearly files: SEC-registered wealth firms based in Maryland, 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	116
October 1, 2019	121
October 1, 2020	130
October 4, 2021	140
October 3, 2022	147
October 5, 2023	147
October 1, 2024	146
September 2, 2025	148
October 2, 2026	153

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	$67.1 billion
October 1, 2019	$70.2 billion
October 1, 2020	$86.6 billion
October 4, 2021	$89.1 billion
October 3, 2022	$118.5 billion
October 5, 2023	$108.0 billion
October 1, 2024	$109.9 billion
September 2, 2025	$133.6 billion
October 2, 2026	$145.0 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	117,868
October 1, 2019	126,270
October 1, 2020	136,331
October 4, 2021	143,931
October 3, 2022	182,800
October 5, 2023	201,544
October 1, 2024	221,395
September 2, 2025	238,550
October 2, 2026	202,176

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	$267.7 million
October 1, 2019	$248.2 million
October 1, 2020	$315.4 million
October 4, 2021	$295.5 million
October 3, 2022	$318.1 million
October 5, 2023	$298.0 million
October 1, 2024	$312.8 million
September 2, 2025	$359.1 million
October 2, 2026	$337.6 million

The market in Maryland now

Headline figures

Headline figures, as of October 2, 2026
Measure	All wealth firms	SEC-registered	State-registered
Firms	447	153	294
Regulatory assets under management	$152.7 billion	$145.0 billion	$7.7 billion
Accounts	226,439	202,176	24,263
Clients	114,939	99,714	15,225
Employees	2,420	1,958	462
Advisory employees	1,572	1,200	372
Investment adviser representatives	2,031	1,650	381
Median RAUM	$75.3 million	$337.6 million	$22.6 million
Average RAUM	$408.2 million	$966.7 million	$34.3 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	219	2	217
RAUM of firms under $100 million	$6.8 billion	$106.1 million	$6.7 billion
Firms $100 million to $250 million	53	47	6
RAUM of firms $100 million to $250 million	$8.7 billion	$8.0 billion	$677.1 million
Firms $250 million to $500 million	49	48	1
RAUM of firms $250 million to $500 million	$16.9 billion	$16.6 billion	$337.9 million
Firms $500 million to $1 billion	25	25	0
RAUM of firms $500 million to $1 billion	$17.4 billion	$17.4 billion	$0
Firms $1 billion to $5 billion	22	22	0
RAUM of firms $1 billion to $5 billion	$46.5 billion	$46.5 billion	$0
Firms $5 billion to $10 billion	5	5	0
RAUM of firms $5 billion to $10 billion	$30.4 billion	$30.4 billion	$0
Firms $10 billion and up	1	1	0
RAUM of firms $10 billion and up	$26.0 billion	$26.0 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		47.9%
Top 100 share of RAUM		89.5%

Concentration, as of October 2, 2026
Measure	All wealth firms	SEC-registered	State-registered
Top 10 share of RAUM	47.9%	50.4%	17.0%
Top 100 share of RAUM	89.5%	94.2%	84.5%

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		89.3%
Charge hourly fees		59.5%
Charge subscription fees		2.0%
Charge fixed fees		67.1%
Receive commissions		1.8%
Charge performance-based fees		4.0%
Other compensation		9.2%

How advisers are paid, as of October 2, 2026
Measure	All wealth firms	SEC-registered	State-registered
Charge a percentage of assets	89.3%	98.0%	84.7%
Charge hourly fees	59.5%	62.1%	58.2%
Charge subscription fees	2.0%	1.3%	2.4%
Charge fixed fees	67.1%	73.9%	63.6%
Receive commissions	1.8%	1.3%	2.0%
Charge performance-based fees	4.0%	1.3%	5.4%
Other compensation	9.2%	8.5%	9.5%

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	50.1%	51.0%	49.7%

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%	5.9%	1.0%

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	All wealth firms	SEC-registered	State-registered
New registrations	32	15	17
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	374	150	224
Discretionary RAUM	$141.4 billion	$134.9 billion	$6.4 billion
CFP professionals	587	463	124
25th percentile RAUM	$16.5 million	$208.8 million	$6.5 million
75th percentile RAUM	$263.6 million	$722.1 million	$51.6 million
90th percentile RAUM	$719.4 million	$1.8 billion	$86.2 million
Average account size	$674,278	$717,238	$316,307
Offer financial planning	80.3%	88.9%	75.9%
RAUM growth, one year	No data	8.6%	No data

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

Cities

Bethesda 41 independent RIAs, $28.6 billion
Baltimore 34 independent RIAs, $13.3 billion
Hunt Valley 14 independent RIAs, $13.1 billion
Towson 21 independent RIAs, $11.3 billion
Owings Mills 7 independent RIAs, $6.0 billion
Annapolis 27 independent RIAs, $5.8 billion
Rockville 25 independent RIAs, $4.5 billion
Columbia 13 independent RIAs, $4.3 billion
Chevy Chase 17 independent RIAs, $4.3 billion
Timonium 8 independent RIAs, $3.9 billion
Lutherville 5 independent RIAs, $1.7 billion
Frederick 12 independent RIAs, $1.5 billion
Ellicott City 11 independent RIAs, $1.4 billion
Gaithersburg 13 independent RIAs, $1.3 billion
Easton 7 independent RIAs, $635.1 million
Potomac 7 independent RIAs, $592.1 million
Silver Spring 11 independent RIAs, $537.9 million
Germantown 5 independent RIAs, $312.1 million
Westminster 5 independent RIAs, $195.9 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.