# Independent RIAs in Maryland

As of October 2, 2026, 436 independent wealth management RIAs based in Maryland reported $115.0 billion in regulatory assets under management; the largest by assets was D.F. Dent and Company, Inc., with $7.9 billion.

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

## Facts

- state: Maryland
- code: MD
- 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.
- latest: independent: accounts: 185602, firms: 436, median_raum: 74594335, raum: 114956563414, advisory_employees: 1268, avg_account: 619371.361375416, band_100m_250m: 52, band_100m_250m_raum: 8512075791, band_10b_plus: 0, band_10b_plus_raum: 0, band_1b_5b: 21, band_1b_5b_raum: 42380791169, band_250m_500m: 49, band_250m_500m_raum: 16896161754, band_500m_1b: 23, band_500m_1b_raum: 16078137995, band_5b_10b: 4, band_5b_10b_raum: 24471360617, band_lt100m: 214, band_lt100m_raum: 6618036088, bd_affiliated_share: 0.00917431192660551, cfp_professionals: 463, clients: 83950, custody_share: 0.504587155963303, employees: 1948, fee_aum_pct_share: 0.889908256880734, fee_commissions_share: 0.0160550458715596, fee_fixed_share: 0.674311926605505, fee_hourly_share: 0.596330275229358, fee_other_share: 0.0871559633027523, fee_performance_share: 0.0412844036697248, fee_subscription_share: 0.018348623853211, financial_planning_share: 0.807339449541284, firms_with_raum: 363, iars: 1293, mean_raum: 316684747.69697, new_firms: 32, p25_raum: 16041500, p75_raum: 256782501, p90_raum: 677408552.8, raum_discretionary: 104729009121, top100_share: 0.874687835151084, top10_share: 0.388483768814206, independent_sec: accounts: 161823, firms: 147, median_raum: 324040182, raum: 107429581747, advisory_employees: 907, avg_account: 663870.906774686, band_100m_250m: 46, band_100m_250m_raum: 7834950336, band_10b_plus: 0, band_10b_plus_raum: 0, band_1b_5b: 21, band_1b_5b_raum: 42380791169, band_250m_500m: 48, band_250m_500m_raum: 16558212630, band_500m_1b: 23, band_500m_1b_raum: 16078137995, band_5b_10b: 4, band_5b_10b_raum: 24471360617, band_lt100m: 2, band_lt100m_raum: 106129000, bd_affiliated_share: 0.0272108843537415, cfp_professionals: 340, clients: 69261, custody_share: 0.510204081632653, employees: 1503, fee_aum_pct_share: 0.979591836734694, fee_commissions_share: 0.0136054421768707, fee_fixed_share: 0.73469387755102, fee_hourly_share: 0.625850340136054, fee_other_share: 0.0680272108843537, fee_performance_share: 0.0136054421768707, fee_subscription_share: 0.00680272108843537, financial_planning_share: 0.891156462585034, firms_with_raum: 144, iars: 920, mean_raum: 746038762.131944, new_firms: 15, p25_raum: 205581875, p75_raum: 678554754.5, p90_raum: 1615237005.4, raum_discretionary: 98435881448, raum_growth_1y: 0.0897251647663113, successions: 0, top100_share: 0.93501308328239, top10_share: 0.415702623791022, state: accounts: 23779, firms: 289, median_raum: 22829316, raum: 7526981667, advisory_employees: 361, avg_account: 316539.033054376, band_100m_250m: 6, band_100m_250m_raum: 677125455, band_10b_plus: 0, band_10b_plus_raum: 0, band_1b_5b: 0, band_1b_5b_raum: 0, band_250m_500m: 1, band_250m_500m_raum: 337949124, band_500m_1b: 0, band_500m_1b_raum: 0, band_5b_10b: 0, band_5b_10b_raum: 0, band_lt100m: 212, band_lt100m_raum: 6511907088, bd_affiliated_share: 0, cfp_professionals: 123, clients: 14689, custody_share: 0.501730103806228, employees: 445, fee_aum_pct_share: 0.844290657439446, fee_commissions_share: 0.0173010380622837, fee_fixed_share: 0.643598615916955, fee_hourly_share: 0.581314878892734, fee_other_share: 0.0968858131487889, fee_performance_share: 0.055363321799308, fee_subscription_share: 0.0242214532871972, financial_planning_share: 0.764705882352941, firms_with_raum: 219, iars: 373, mean_raum: 34369779.3013699, new_firms: 17, p25_raum: 6493594, p75_raum: 51755462, p90_raum: 85321027.4, raum_discretionary: 6293127673, top100_share: 0.852272427489094, top10_share: 0.173003108099639
- broker_dealer_affiliated_not_included: firms: 11, raum: 37726379489
- series: firms: segment: independent_sec, unit: count, points: as_of: 2018-10-01, value: 108; as_of: 2019-10-01, value: 111; as_of: 2020-10-01, value: 118; as_of: 2021-10-04, value: 128; as_of: 2022-10-03, value: 134; as_of: 2023-10-05, value: 137; as_of: 2024-10-01, value: 136; as_of: 2025-09-02, value: 140; as_of: 2026-10-02, value: 147, raum: segment: independent_sec, unit: usd, points: as_of: 2018-10-01, value: 51056171075; as_of: 2019-10-01, value: 52900152026; as_of: 2020-10-01, value: 62177975356; as_of: 2021-10-04, value: 63501614770; as_of: 2022-10-03, value: 87755092004; as_of: 2023-10-05, value: 81753614327; as_of: 2024-10-01, value: 76891131272; as_of: 2025-09-02, value: 98584106544; as_of: 2026-10-02, value: 107429581747, accounts: segment: independent_sec, unit: count, points: as_of: 2018-10-01, value: 93477; as_of: 2019-10-01, value: 97139; as_of: 2020-10-01, value: 102291; as_of: 2021-10-04, value: 107872; as_of: 2022-10-03, value: 139314; as_of: 2023-10-05, value: 155718; as_of: 2024-10-01, value: 171517; as_of: 2025-09-02, value: 190257; as_of: 2026-10-02, value: 161823, median_raum: segment: independent_sec, unit: usd, points: as_of: 2018-10-01, value: 264527478; as_of: 2019-10-01, value: 245659608; as_of: 2020-10-01, value: 285076799; as_of: 2021-10-04, value: 284115364; as_of: 2022-10-03, value: 309431284; as_of: 2023-10-05, value: 288311302; as_of: 2024-10-01, value: 310006374; as_of: 2025-09-02, value: 350513365; as_of: 2026-10-02, value: 324040182
- top_10: largest: rank: 1, crd: 105179, firm: D.F. Dent and Company, Inc., city: Baltimore, value: 7880660780; rank: 2, crd: 132669, firm: Greenspring Advisors, LLC, city: Towson, value: 6464377689; rank: 3, crd: 282688, firm: Pennington Partners & Co., LLC, city: Bethesda, value: 5087641631; rank: 4, crd: 133777, firm: Prosperity - An Eisneramper Company, city: Owings Mills, value: 5038680517; rank: 5, crd: 110420, firm: Heritage Investors Management Corp, city: Bethesda, value: 4632533441; rank: 6, crd: 288512, firm: Verdence Capital Advisors, LLC, city: Hunt Valley, value: 4627407651; rank: 7, crd: 284987, firm: XML Financial Group, city: Bethesda, value: 3298062805; rank: 8, crd: 159388, firm: Baltimore-Washington Financial Advisors, city: Columbia, value: 2985578005; rank: 9, crd: 108967, firm: FBB Capital Partners, city: Bethesda, value: 2394809702; rank: 10, crd: 142359, firm: Cornerstone Advisory, city: Hunt Valley, value: 2249006784, fastest-growing: rank: 1, crd: 333259, firm: Tritonpoint Partners, LLC, city: Chevy Chase, value: 1.59614894462541; rank: 2, crd: 325950, firm: MDRN Capital, city: Annapolis, value: 1.1050463939814; rank: 3, crd: 333113, firm: Catoctin Ridge Wealth Partner, city: Thurmont, value: 0.945431699567315; rank: 4, crd: 133777, firm: Prosperity - An Eisneramper Company, city: Owings Mills, value: 0.729234614905703; rank: 5, crd: 132669, firm: Greenspring Advisors, LLC, city: Towson, value: 0.712273471224171; rank: 6, crd: 326861, firm: Capital Squared Financial LLC, city: Rockville, value: 0.627384109530305; rank: 7, crd: 127368, firm: Beacon Investment Advisors LLC, city: Gaithersburg, value: 0.605097178713154; rank: 8, crd: 110147, firm: PKS Investment Advisors LLC, city: Salisbury, value: 0.514751473004519; rank: 9, crd: 122366, firm: RMG Advisors, city: Rockville, value: 0.461155073557711; rank: 10, crd: 285429, firm: Elite Income Advisors, Inc., city: Ellicott City, value: 0.421577728575331, fastest-growing-3-year: rank: 1, crd: 282688, firm: Pennington Partners & Co., LLC, city: Bethesda, value: 0.439971875457401; rank: 2, crd: 145108, firm: Black Diamond Financial, LLC, city: Lutherville, value: 0.359029444853007; rank: 3, crd: 127368, firm: Beacon Investment Advisors LLC, city: Gaithersburg, value: 0.350675176395253; rank: 4, crd: 110147, firm: PKS Investment Advisors LLC, city: Salisbury, value: 0.349988963092474; rank: 5, crd: 144926, firm: Buttonwood Financial Advisors, Inc., city: Baltimore, value: 0.334658845166226; rank: 6, crd: 309051, firm: HF Advisory Group, LLC, city: Annapolis, value: 0.333556626876347; rank: 7, crd: 146946, firm: Bluestone® Financial Advisors, LLC, city: Bethesda, value: 0.273846145838918; rank: 8, crd: 304049, firm: Valuewealth Services, LLC, city: Annapolis, value: 0.255562988647817; rank: 9, crd: 149621, firm: Macroview Investment Management LLC, city: Bethesda, value: 0.251596539339338; rank: 10, crd: 132662, firm: Prostatis Financial Advisors Group, city: Hanover, value: 0.248834459217904, fastest-growing-5-year: rank: 1, crd: 133777, firm: Prosperity - An Eisneramper Company, city: Owings Mills, value: 0.720103884561974; rank: 2, crd: 282688, firm: Pennington Partners & Co., LLC, city: Bethesda, value: 0.355920731247071; rank: 3, crd: 144926, firm: Buttonwood Financial Advisors, Inc., city: Baltimore, value: 0.297986064946064; rank: 4, crd: 146362, firm: The Marshall Financial Group LLC, city: Hunt Valley, value: 0.287004848784014; rank: 5, crd: 132662, firm: Prostatis Financial Advisors Group, city: Hanover, value: 0.276049676785152; rank: 6, crd: 149621, firm: Macroview Investment Management LLC, city: Bethesda, value: 0.230244100287256; rank: 7, crd: 145108, firm: Black Diamond Financial, LLC, city: Lutherville, value: 0.229060712281277; rank: 8, crd: 297858, firm: Sandbox Financial Partners, LLC, city: Bethesda, value: 0.219422075802752; rank: 9, crd: 284987, firm: XML Financial Group, city: Bethesda, value: 0.209971908815683; rank: 10, crd: 159388, firm: Baltimore-Washington Financial Advisors, city: Columbia, value: 0.192450466343816, biggest-asset-gains: rank: 1, crd: 132669, firm: Greenspring Advisors, LLC, city: Towson, value: 2689059203; rank: 2, crd: 133777, firm: Prosperity - An Eisneramper Company, city: Owings Mills, value: 2124859296; rank: 3, crd: 282688, firm: Pennington Partners & Co., LLC, city: Bethesda, value: 1135608058; rank: 4, crd: 288512, firm: Verdence Capital Advisors, LLC, city: Hunt Valley, value: 715351674; rank: 5, crd: 159388, firm: Baltimore-Washington Financial Advisors, city: Columbia, value: 490458041; rank: 6, crd: 110420, firm: Heritage Investors Management Corp, city: Bethesda, value: 451749100; rank: 7, crd: 145108, firm: Black Diamond Financial, LLC, city: Lutherville, value: 326537205; rank: 8, crd: 284987, firm: XML Financial Group, city: Bethesda, value: 304826208; rank: 9, crd: 334902, firm: GLR Partners, city: Columbia, value: 260700422; rank: 10, crd: 336417, firm: Tritonpoint Capital, LLC, city: Chevy Chase, value: 250178748, most-clients: rank: 1, crd: 159388, firm: Baltimore-Washington Financial Advisors, city: Columbia, value: 5301; rank: 2, crd: 150351, firm: Retirement Management Systems, city: Leonardtown, value: 3071; rank: 3, crd: 284987, firm: XML Financial Group, city: Bethesda, value: 2974; rank: 4, crd: 169517, firm: Scarborough Capital Management, city: Annapolis, value: 2674; rank: 5, crd: 133777, firm: Prosperity - An Eisneramper Company, city: Owings Mills, value: 2621; rank: 6, crd: 132669, firm: Greenspring Advisors, LLC, city: Towson, value: 1905; rank: 7, crd: 288512, firm: Verdence Capital Advisors, LLC, city: Hunt Valley, value: 1876; rank: 8, crd: 314942, firm: Innovative Wealth Building LLC, city: California, value: 1773; rank: 9, crd: 132662, firm: Prostatis Financial Advisors Group, city: Hanover, value: 1573; rank: 10, crd: 166912, firm: Red Oak Financial Group, city: Towson, value: 1202, client-growth: rank: 1, crd: 174115, firm: Tred Avon Family Wealth, LLC, city: Easton, value: 1.29943502824859; rank: 2, crd: 170024, firm: Montgomery Financial, city: Ocean City, value: 0.746788990825688; rank: 3, crd: 304049, firm: Valuewealth Services, LLC, city: Annapolis, value: 0.735537190082645; rank: 4, crd: 132669, firm: Greenspring Advisors, LLC, city: Towson, value: 0.489444878811572; rank: 5, crd: 133777, firm: Prosperity - An Eisneramper Company, city: Owings Mills, value: 0.445670159955874; rank: 6, crd: 325950, firm: MDRN Capital, city: Annapolis, value: 0.415422885572139; rank: 7, crd: 166912, firm: Red Oak Financial Group, city: Towson, value: 0.343016759776536; rank: 8, crd: 146262, firm: Glashofer Financial Advisors, city: Potomac, value: 0.330645161290323; rank: 9, crd: 333113, firm: Catoctin Ridge Wealth Partner, city: Thurmont, value: 0.321529745042493; rank: 10, crd: 169517, firm: Scarborough Capital Management, city: Annapolis, value: 0.294288480154889, most-accounts: rank: 1, crd: 288512, firm: Verdence Capital Advisors, LLC, city: Hunt Valley, value: 7802; rank: 2, crd: 133777, firm: Prosperity - An Eisneramper Company, city: Owings Mills, value: 7473; rank: 3, crd: 132669, firm: Greenspring Advisors, LLC, city: Towson, value: 7119; rank: 4, crd: 284987, firm: XML Financial Group, city: Bethesda, value: 5987; rank: 5, crd: 159388, firm: Baltimore-Washington Financial Advisors, city: Columbia, value: 5301; rank: 6, crd: 314942, firm: Innovative Wealth Building LLC, city: California, value: 4646; rank: 7, crd: 150351, firm: Retirement Management Systems, city: Leonardtown, value: 4472; rank: 8, crd: 169517, firm: Scarborough Capital Management, city: Annapolis, value: 4323; rank: 9, crd: 132662, firm: Prostatis Financial Advisors Group, city: Hanover, value: 3806; rank: 10, crd: 106898, firm: Financial Consulate, city: Hunt Valley, value: 3375, most-advisory-staff: rank: 1, crd: 133777, firm: Prosperity - An Eisneramper Company, city: Owings Mills, value: 60; rank: 2, crd: 132669, firm: Greenspring Advisors, LLC, city: Towson, value: 39; rank: 3, crd: 288512, firm: Verdence Capital Advisors, LLC, city: Hunt Valley, value: 29; rank: 4, crd: 324995, firm: Bull Harbor Capital LLC., city: Bethesda, value: 28; rank: 5, crd: 284987, firm: XML Financial Group, city: Bethesda, value: 26; rank: 6, crd: 325950, firm: MDRN Capital, city: Annapolis, value: 22; rank: 7, crd: 120666, firm: SC&H Wealth, city: Hunt Valley, value: 20; rank: 8, crd: 105179, firm: D.F. Dent and Company, Inc., city: Baltimore, value: 16; rank: 8, crd: 132662, firm: Prostatis Financial Advisors Group, city: Hanover, value: 16; rank: 10, crd: 108967, firm: FBB Capital Partners, city: Bethesda, value: 15, most-hnw-clients: rank: 1, crd: 132669, firm: Greenspring Advisors, LLC, city: Towson, value: 1118; rank: 2, crd: 133777, firm: Prosperity - An Eisneramper Company, city: Owings Mills, value: 995; rank: 3, crd: 105179, firm: D.F. Dent and Company, Inc., city: Baltimore, value: 903; rank: 4, crd: 159388, firm: Baltimore-Washington Financial Advisors, city: Columbia, value: 872; rank: 5, crd: 284987, firm: XML Financial Group, city: Bethesda, value: 833; rank: 6, crd: 288512, firm: Verdence Capital Advisors, LLC, city: Hunt Valley, value: 755; rank: 7, crd: 169517, firm: Scarborough Capital Management, city: Annapolis, value: 732; rank: 8, crd: 110420, firm: Heritage Investors Management Corp, city: Bethesda, value: 585; rank: 9, crd: 285785, firm: SFG Wealth Management, city: Towson, value: 554; rank: 10, crd: 150351, firm: Retirement Management Systems, city: Leonardtown, value: 553, most-cfp-professionals: rank: 1, crd: 132669, firm: Greenspring Advisors, LLC, city: Towson, value: 29; rank: 2, crd: 133777, firm: Prosperity - An Eisneramper Company, city: Owings Mills, value: 17; rank: 3, crd: 106898, firm: Financial Consulate, city: Hunt Valley, value: 13; rank: 4, crd: 284987, firm: XML Financial Group, city: Bethesda, value: 11; rank: 5, crd: 288512, firm: Verdence Capital Advisors, LLC, city: Hunt Valley, value: 10; rank: 6, crd: 120666, firm: SC&H Wealth, city: Hunt Valley, value: 9; rank: 6, crd: 332906, firm: Berman McAleer, city: Timonium, value: 9; rank: 8, crd: 108967, firm: FBB Capital Partners, city: Bethesda, value: 8; rank: 8, crd: 169517, firm: Scarborough Capital Management, city: Annapolis, value: 8; rank: 8, crd: 170858, firm: Councilor Wealth LLC, city: Bethesda, value: 8, newest: rank: 1, crd: 338196, firm: Williams Asset Management, city: Columbia, value: 661067873; rank: 2, crd: 325288, firm: CJC Wealth Management, city: Olney, value: 121906496; rank: 3, crd: 120896, firm: Sera Capital Management, LLC, city: Annapolis, value: 114258975; rank: 4, crd: 286017, firm: Oxford Planning Group, LLC, city: Woodstock, value: 112914960; rank: 5, crd: 290450, firm: Snyder Asset Management, LLC, city: Hunt Valley, value: 112300000; rank: 6, crd: 334282, firm: One Oak, city: North Bethesda, value: 110379326; rank: 7, crd: 107041, firm: A. J. Perry & Co., city: Towson, value: 108760000; rank: 7, crd: 309060, firm: Northbrook Financial, city: Baltimore, value: 108760000; rank: 9, crd: 110803, firm: Safe Harbor Retirement Planners, city: Abingdon, value: 108670330; rank: 10, crd: 168710, firm: Cobalt Financial Partners LLC, city: Sykesville, value: 108069000
- cities: name: Bethesda, independent_rias: 41, raum: 28625616524, url: https://advisoriq.com/ria/states/maryland/bethesda/; name: Baltimore, independent_rias: 34, raum: 13294981180, url: https://advisoriq.com/ria/states/maryland/baltimore/; name: Hunt Valley, independent_rias: 14, raum: 13058663640, url: https://advisoriq.com/ria/states/maryland/hunt-valley/; name: Towson, independent_rias: 21, raum: 11293108307, url: https://advisoriq.com/ria/states/maryland/towson/; name: Owings Mills, independent_rias: 7, raum: 6035689332, url: https://advisoriq.com/ria/states/maryland/owings-mills/; name: Annapolis, independent_rias: 27, raum: 5804095123, url: https://advisoriq.com/ria/states/maryland/annapolis/; name: Rockville, independent_rias: 25, raum: 4523110588, url: https://advisoriq.com/ria/states/maryland/rockville/; name: Columbia, independent_rias: 13, raum: 4307667525, url: https://advisoriq.com/ria/states/maryland/columbia/; name: Chevy Chase, independent_rias: 17, raum: 4288754424, url: https://advisoriq.com/ria/states/maryland/chevy-chase/; name: Timonium, independent_rias: 8, raum: 3884307535, url: https://advisoriq.com/ria/states/maryland/timonium/; name: Lutherville, independent_rias: 5, raum: 1660842277, url: https://advisoriq.com/ria/states/maryland/lutherville/; name: Frederick, independent_rias: 12, raum: 1463902942, url: https://advisoriq.com/ria/states/maryland/frederick/; name: Ellicott City, independent_rias: 11, raum: 1382410122, url: https://advisoriq.com/ria/states/maryland/ellicott-city/; name: Gaithersburg, independent_rias: 13, raum: 1288532722, url: https://advisoriq.com/ria/states/maryland/gaithersburg/; name: Easton, independent_rias: 7, raum: 635122539, url: https://advisoriq.com/ria/states/maryland/easton/; name: Potomac, independent_rias: 7, raum: 592128793, url: https://advisoriq.com/ria/states/maryland/potomac/; name: Silver Spring, independent_rias: 11, raum: 537899654, url: https://advisoriq.com/ria/states/maryland/silver-spring/; name: Germantown, independent_rias: 5, raum: 312135000, url: https://advisoriq.com/ria/states/maryland/germantown/; name: Westminster, independent_rias: 5, raum: 195850988, url: https://advisoriq.com/ria/states/maryland/westminster/
- iar_ce_status: in effect

## Notes

- Firms are placed in the state of their main office.
- History covers SEC-registered firms only, from October 2018.

## 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
- NASAA IAR CE map, checked 2026-10-05: https://www.nasaa.org/industry-resources/investment-advisers/investment-adviser-representative-continuing-education/iar-ce-map/

## Related

- [RIA market data by state](https://advisoriq.com/ria/states/)
- [Largest independent RIAs by assets under management in Maryland](https://advisoriq.com/ria/rankings/largest/maryland/)
- [Fastest-growing independent RIAs over one year in Maryland](https://advisoriq.com/ria/rankings/fastest-growing/maryland/)
- [Fastest-growing independent RIAs over three years in Maryland](https://advisoriq.com/ria/rankings/fastest-growing-3-year/maryland/)
- [Fastest-growing independent RIAs over five years in Maryland](https://advisoriq.com/ria/rankings/fastest-growing-5-year/maryland/)
- [IAR CE in Maryland](https://advisoriq.com/ce/iar/maryland/)

## Cite as

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

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