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Independent RIAs in Michigan

As of October 2, 2026, 636 independent wealth management RIAs based in Michigan reported $190.0 billion in regulatory assets under management; the largest by assets was Plante Moran Financial Advisors, with $26.9 billion.

Include wirehouses and broker-dealer firms

Independent wealth management RIAs
636
SEC-registered
241
State-registered
395
Regulatory assets under management
$190.0 billion
Client accounts
434,507
Median firm size
$68.6 million
Broker-dealer affiliated firms, not included
28, with $29.4 billion

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

Top firms in Michigan

Largest independent RIAs by assets under management

Rank Firm City RAUM
1 Plante Moran Financial Advisors Southfield $26.9 billion
2 Zhang Financial Portage $8.4 billion
3 Mainstay Capital Management, LLC Grand Blanc $5.3 billion
4 Rehmann Wealth Lansing $5.3 billion
5 Advance Capital Management Inc Southfield $5.0 billion
6 CG Advisory Services Williamston $4.6 billion
7 Advisory Alpha, LLC Holland $4.4 billion
8 Azimuth Capital Management Bloomfield Hills $4.0 billion
9 Innovia Wealth, LLC Grand Rapids $3.3 billion
10 Retirement Income Solutions, Inc. Ann Arbor $3.0 billion

Top 100 in Michigan

Fastest-growing independent RIAs over one year

Rank Firm City Growth Starting value
1 Spartan Wealth Management Bingham Farms 265.0% $406.6 million
2 Foguth Wealth Management, LLC. Brighton 143.4% $439.6 million
3 Summit Financial Working with People You Trust Sterling Heights 79.3% $122.1 million
4 Retiremitten Financial LLC Clarkston 63.3% $130.9 million
5 Aspen Investment Management Inc. Grand Rapids 58.4% $285.7 million
6 Taylor & Morgan Asset Management, LLC D/B/A TM Advisors, L Troy 56.7% $327.0 million
7 Lightsquare Wealth Management, LLC Bingham Farms 54.9% $131.4 million
8 C2 Private Wealth Novi 53.7% $1.2 billion
9 Vima, LLC Troy 52.8% $150.2 million
10 Carrera Capital Advisors Troy 49.6% $647.7 million

Top 100 in Michigan

Fastest-growing independent RIAs over three years

Rank Firm City Growth Starting value
1 Fiduciary Financial Advisors Grand Rapids 55.7% $352.2 million
2 Lifeworks Advisors, LLC Grand Rapids 54.7% $261.2 million
3 Heron Bay Capital Management Bloomfield Hills 48.3% $197.3 million
4 West Michigan Advisors Holland 40.8% $279.8 million
5 Fsa Advisors, Inc. Troy 38.8% $214.4 million
6 Trunorth Capital Management, LLC Kalamazoo 35.0% $294.6 million
7 Advisory Alpha, LLC Holland 34.8% $1.8 billion
8 Straight Path Wealth Management Jenison 32.5% $203.2 million
9 Innovia Wealth, LLC Grand Rapids 32.5% $1.4 billion
10 Taylor & Morgan Asset Management, LLC D/B/A TM Advisors, L Troy 31.9% $223.1 million

Top 100 in Michigan

Fastest-growing independent RIAs over five years

Rank Firm City Growth Starting value
1 Lifeworks Advisors, LLC Grand Rapids 51.2% $122.4 million
2 Fiduciary Financial Advisors Grand Rapids 50.2% $174.1 million
3 Innovia Wealth, LLC Grand Rapids 35.5% $720.0 million
4 Fsa Advisors, Inc. Troy 33.1% $137.2 million
5 C2 Private Wealth Novi 30.5% $480.0 million
6 Advisory Alpha, LLC Holland 28.6% $1.2 billion
7 626 Financial, LLC Portage 27.0% $115.0 million
8 Heron Bay Capital Management Bloomfield Hills 26.2% $200.9 million
9 Trunorth Capital Management, LLC Kalamazoo 26.2% $226.4 million
10 West Michigan Advisors Holland 25.3% $252.9 million

Top 100 in Michigan

Independent RIAs with the biggest asset gains over one year

Rank Firm City Increase
1 Plante Moran Financial Advisors Southfield $5.1 billion
2 Zhang Financial Portage $1.8 billion
3 Spartan Wealth Management Bingham Farms $1.1 billion
4 Rehmann Wealth Lansing $1.0 billion
5 Advisory Alpha, LLC Holland $905.5 million
6 Innovia Wealth, LLC Grand Rapids $857.7 million
7 Mainstay Capital Management, LLC Grand Blanc $791.2 million
8 C2 Private Wealth Novi $634.5 million
9 Foguth Wealth Management, LLC. Brighton $630.5 million
10 CG Advisory Services Williamston $620.2 million

Top 100 in Michigan

Independent RIAs with the most clients

Rank Firm City Most clients
1 Advisory Alpha, LLC Holland 13,831
2 USA Financial Formulas Corporation Ada 7,489
3 Advance Capital Management Inc Southfield 7,365
4 CG Advisory Services Williamston 5,614
5 Signal Advisors Wealth, LLC Detroit 4,816
6 Fsa Advisors, Inc. Troy 4,461
7 Plante Moran Financial Advisors Southfield 4,012
8 Mainstay Capital Management, LLC Grand Blanc 3,454
9 Foguth Wealth Management, LLC. Brighton 2,690
10 Rehmann Wealth Lansing 2,661

Top 100 in Michigan

Independent RIAs with the fastest client growth over one year

Rank Firm City Growth Starting value
1 Spartan Wealth Management Bingham Farms 278.1% 311
2 Fsa Advisors, Inc. Troy 150.3% 1,782
3 Signal Advisors Wealth, LLC Detroit 115.7% 2,233
4 Melone Private Wealth, LLC Auburn Hills 109.2% 153
5 Jay A. Fishman, Ltd Troy 105.0% 524
6 C2 Private Wealth Novi 93.4% 1,068
7 Cambient Family Office, LLC Ada 76.8% 112
8 Foguth Wealth Management, LLC. Brighton 72.1% 1,563
9 Strategic Wealth Advisors Group, Inc. Utica 35.3% 402
10 Revalue LLC Grand Rapids 33.2% 199

Top 100 in Michigan

Independent RIAs with the most accounts

Rank Firm City Most accounts
1 Advisory Alpha, LLC Holland 24,401
2 Plante Moran Financial Advisors Southfield 19,176
3 CG Advisory Services Williamston 18,187
4 Advance Capital Management Inc Southfield 14,835
5 C2 Private Wealth Novi 11,760
6 Signal Advisors Wealth, LLC Detroit 10,642
7 Fiduciary Financial Advisors Grand Rapids 8,246
8 Zhang Financial Portage 7,855
9 USA Financial Formulas Corporation Ada 7,489
10 Foguth Wealth Management, LLC. Brighton 6,768

Top 100 in Michigan

Independent RIAs with the most advisory staff

Rank Firm City Most advisory staff
1 Plante Moran Financial Advisors Southfield 142
2 CG Advisory Services Williamston 69
3 Advisory Alpha, LLC Holland 61
4 Fiduciary Financial Advisors Grand Rapids 50
5 Lifeworks Advisors, LLC Grand Rapids 40
6 Rehmann Wealth Lansing 39
7 Signal Advisors Wealth, LLC Detroit 37
8 Foguth Wealth Management, LLC. Brighton 32
9 Fsa Advisors, Inc. Troy 31
10 Advance Capital Management Inc Southfield 29

Top 100 in Michigan

Independent RIAs with the most high net worth clients

Rank Firm City Most high net worth clients
1 Plante Moran Financial Advisors Southfield 3,445
2 Mainstay Capital Management, LLC Grand Blanc 1,664
3 Advance Capital Management Inc Southfield 1,531
4 LVM Capital Management Ltd Portage 1,369
5 Zhang Financial Portage 1,355
6 Rehmann Wealth Lansing 1,123
7 Retirement Income Solutions, Inc. Ann Arbor 869
8 Spartan Wealth Management Bingham Farms 813
9 CG Advisory Services Williamston 680
10 Fiduciary Financial Advisors Grand Rapids 555

Top 100 in Michigan

Independent RIAs with the most CFP professionals

Rank Firm City Most CFP professionals
1 Plante Moran Financial Advisors Southfield 89
2 CG Advisory Services Williamston 24
3 Advance Capital Management Inc Southfield 17
3 Rehmann Wealth Lansing 17
5 Zhang Financial Portage 14
6 Center for Financial Planning Inc Southfield 13
6 Advisory Alpha, LLC Holland 13
8 Mainstay Capital Management, LLC Grand Blanc 11
8 Lifeworks Advisors, LLC Grand Rapids 11
10 Fiduciary Financial Advisors Grand Rapids 10

Top 100 in Michigan

Newest independent RIAs

Rank Firm City Amount
1 Modell Capital Management LLC Bloomfield Hills $1.9 billion
2 Vertrix Wealth Management, LLC Troy $343.2 million
3 Northern Edge Wealth Management Marquette $246.9 million
4 Rosenberg Wealth Advisors Birmingham $231.0 million
5 Daniel Investment Group Inc. Royal Oak $210.1 million
6 Custom Wealth Management Plymouth $201.0 million
7 River Raisin Investment Partners, Inc. Monroe $163.5 million
8 Advisory Advocates LLC Grand Rapids $158.6 million
9 Star Wealth Management Corporation Bingham Farms $156.5 million
10 Paragon Investing, LLC Detroit $138.2 million

Top 100 in Michigan

Over time

From the SEC's yearly files: SEC-registered independent RIAs based in Michigan, 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.
0100200300201820202021202320242026241October 1, 2018: 133October 1, 2019: 148October 1, 2020: 154October 4, 2021: 179October 3, 2022: 184October 5, 2023: 178October 1, 2024: 192September 2, 2025: 209October 2, 2026: 241
Data table
As ofFirms
October 1, 2018133
October 1, 2019148
October 1, 2020154
October 4, 2021179
October 3, 2022184
October 5, 2023178
October 1, 2024192
September 2, 2025209
October 2, 2026241
Regulatory assets under managementSEC-registered independent RIAs. 9 snapshots, October 1, 2018 to October 2, 2026.
$0$50B$100B$150B$200B201820202021202320242026$181BOctober 1, 2018: $71.4 billionOctober 1, 2019: $74.3 billionOctober 1, 2020: $91.7 billionOctober 4, 2021: $109.3 billionOctober 3, 2022: $122.9 billionOctober 5, 2023: $127.2 billionOctober 1, 2024: $133.2 billionSeptember 2, 2025: $152.2 billionOctober 2, 2026: $180.9 billion
Data table
As ofRegulatory assets under management
October 1, 2018$71.4 billion
October 1, 2019$74.3 billion
October 1, 2020$91.7 billion
October 4, 2021$109.3 billion
October 3, 2022$122.9 billion
October 5, 2023$127.2 billion
October 1, 2024$133.2 billion
September 2, 2025$152.2 billion
October 2, 2026$180.9 billion
Client accountsSEC-registered independent RIAs. 9 snapshots, October 1, 2018 to October 2, 2026.
0100K200K300K400K201820202021202320242026393KOctober 1, 2018: 208,928October 1, 2019: 208,370October 1, 2020: 239,932October 4, 2021: 263,710October 3, 2022: 247,682October 5, 2023: 273,945October 1, 2024: 322,061September 2, 2025: 355,205October 2, 2026: 393,206
Data table
As ofClient accounts
October 1, 2018208,928
October 1, 2019208,370
October 1, 2020239,932
October 4, 2021263,710
October 3, 2022247,682
October 5, 2023273,945
October 1, 2024322,061
September 2, 2025355,205
October 2, 2026393,206
Median firm size (RAUM)SEC-registered independent RIAs. 9 snapshots, October 1, 2018 to October 2, 2026.
$0$100M$200M$300M$400M201820202021202320242026$301MOctober 1, 2018: $239.2 millionOctober 1, 2019: $225.0 millionOctober 1, 2020: $255.5 millionOctober 4, 2021: $252.9 millionOctober 3, 2022: $285.4 millionOctober 5, 2023: $271.2 millionOctober 1, 2024: $292.6 millionSeptember 2, 2025: $320.1 millionOctober 2, 2026: $300.8 million
Data table
As ofMedian firm size (RAUM)
October 1, 2018$239.2 million
October 1, 2019$225.0 million
October 1, 2020$255.5 million
October 4, 2021$252.9 million
October 3, 2022$285.4 million
October 5, 2023$271.2 million
October 1, 2024$292.6 million
September 2, 2025$320.1 million
October 2, 2026$300.8 million

The market in Michigan now

Headline figures

MeasureIndependent RIAsSEC-registeredState-registered
Firms636241395
Regulatory assets under management$190.0 billion$180.9 billion$9.1 billion
Accounts434,507393,20641,301
Clients196,320167,75528,565
Employees3,2742,641633
Advisory employees2,2821,733549
Investment adviser representatives2,3231,765558
Median RAUM$68.6 million$300.8 million$19.0 million
Average RAUM$347.3 million$759.9 million$29.5 million

Firms by size

Advisers grouped by regulatory assets under management.

MeasureIndependent RIAsSEC-registeredState-registered
Firms under $100 million3063303
RAUM of firms under $100 million$8.6 billion$121.3 million$8.5 billion
Firms $100 million to $250 million101956
RAUM of firms $100 million to $250 million$16.5 billion$15.9 billion$636.4 million
Firms $250 million to $500 million60600
RAUM of firms $250 million to $500 million$20.9 billion$20.9 billion$0
Firms $500 million to $1 billion42420
RAUM of firms $500 million to $1 billion$30.5 billion$30.5 billion$0
Firms $1 billion to $5 billion34340
RAUM of firms $1 billion to $5 billion$67.6 billion$67.6 billion$0
Firms $5 billion to $10 billion330
RAUM of firms $5 billion to $10 billion$18.9 billion$18.9 billion$0
Firms $10 billion and up110
RAUM of firms $10 billion and up$26.9 billion$26.9 billion$0

Concentration

How much of the market the largest advisers hold.

Concentration: independent RIAsAs of October 2, 2026.
Top 10 share of RAUM 36.9%
Top 100 share of RAUM 80.4%
MeasureIndependent RIAsSEC-registeredState-registered
Top 10 share of RAUM36.9%38.8%11.3%
Top 100 share of RAUM80.4%84.4%71.5%

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: independent RIAsAs of October 2, 2026.
Charge a percentage of assets 90.7%
Charge hourly fees 53.0%
Charge subscription fees 2.0%
Charge fixed fees 62.1%
Receive commissions 2.0%
Charge performance-based fees 1.3%
Other compensation 8.3%
MeasureIndependent RIAsSEC-registeredState-registered
Charge a percentage of assets90.7%96.7%87.1%
Charge hourly fees53.0%55.2%51.6%
Charge subscription fees2.0%1.7%2.3%
Charge fixed fees62.1%72.6%55.7%
Receive commissions2.0%1.7%2.3%
Charge performance-based fees1.3%0.8%1.5%
Other compensation8.3%11.6%6.3%

Custody

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

MeasureIndependent RIAsSEC-registeredState-registered
Have custody26.4%50.6%11.6%

Broker-dealer and other affiliations

From Form ADV Items 6 and 7.

MeasureIndependent RIAsSEC-registeredState-registered
Broker-dealer affiliated1.7%3.7%0.5%

New firms and successions

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

MeasureIndependent RIAsSEC-registeredState-registered
New registrations732548
SuccessionsNo data0No data

Other measures

MeasureIndependent RIAsSEC-registeredState-registered
Firms reporting RAUM547238309
Discretionary RAUM$163.0 billion$154.9 billion$8.1 billion
CFP professionals698563135
25th percentile RAUM$15.4 million$171.1 million$6.9 million
75th percentile RAUM$259.1 million$690.6 million$45.0 million
90th percentile RAUM$748.4 million$1.5 billion$74.3 million
Average account size$437,215$459,970$220,573
Offer financial planning78.0%85.1%73.7%
RAUM growth, one yearNo data18.9%No data

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

Cities

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.