# Independent RIAs in Montana

As of October 2, 2026, 77 independent wealth management RIAs based in Montana reported $10.9 billion in regulatory assets under management; the largest by assets was Stack Financial Management Inc, with $2.0 billion.

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

## Facts

- state: Montana
- code: MT
- 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: 21835, firms: 77, median_raum: 33685554, raum: 10877548028, advisory_employees: 190, avg_account: 498170.278360431, band_100m_250m: 7, band_100m_250m_raum: 1132382964, band_10b_plus: 0, band_10b_plus_raum: 0, band_1b_5b: 4, band_1b_5b_raum: 6513796208, band_250m_500m: 5, band_250m_500m_raum: 1792229753, band_500m_1b: 0, band_500m_1b_raum: 0, band_5b_10b: 0, band_5b_10b_raum: 0, band_lt100m: 51, band_lt100m_raum: 1439139103, bd_affiliated_share: 0.025974025974026, cfp_professionals: 73, clients: 9432, custody_share: 0.155844155844156, employees: 226, fee_aum_pct_share: 0.974025974025974, fee_commissions_share: 0.012987012987013, fee_fixed_share: 0.467532467532468, fee_hourly_share: 0.506493506493506, fee_other_share: 0.038961038961039, fee_performance_share: 0.012987012987013, fee_subscription_share: 0.012987012987013, financial_planning_share: 0.727272727272727, firms_with_raum: 67, iars: 195, mean_raum: 162351463.104478, new_firms: 8, p25_raum: 15146291, p75_raum: 87635327.5, p90_raum: 324168556.8, raum_discretionary: 8965923433, top10_share: 0.785897751772262, independent_sec: accounts: 16192, firms: 16, median_raum: 292063437.5, raum: 9412855512, advisory_employees: 117, avg_account: 581327.539031621, band_100m_250m: 6, band_100m_250m_raum: 1024788547, band_10b_plus: 0, band_10b_plus_raum: 0, band_1b_5b: 4, band_1b_5b_raum: 6513796208, band_250m_500m: 5, band_250m_500m_raum: 1792229753, band_500m_1b: 0, band_500m_1b_raum: 0, band_5b_10b: 0, band_5b_10b_raum: 0, band_lt100m: 1, band_lt100m_raum: 82041004, bd_affiliated_share: 0, cfp_professionals: 54, clients: 6626, custody_share: 0.3125, employees: 144, fee_aum_pct_share: 1, fee_commissions_share: 0, fee_fixed_share: 0.5625, fee_hourly_share: 0.625, fee_other_share: 0.0625, fee_performance_share: 0, fee_subscription_share: 0.0625, financial_planning_share: 0.9375, firms_with_raum: 16, iars: 121, mean_raum: 588303469.5, new_firms: 3, p25_raum: 160531014, p75_raum: 649824079.25, p90_raum: 1634037837, raum_discretionary: 7616573165, raum_growth_1y: 0.459989895272356, successions: 0, top10_share: 0.908187800089117, state: accounts: 5643, firms: 61, median_raum: 20876000, raum: 1464692516, advisory_employees: 73, avg_account: 259559.191210349, band_100m_250m: 1, band_100m_250m_raum: 107594417, band_10b_plus: 0, band_10b_plus_raum: 0, band_1b_5b: 0, band_1b_5b_raum: 0, band_250m_500m: 0, band_250m_500m_raum: 0, band_500m_1b: 0, band_500m_1b_raum: 0, band_5b_10b: 0, band_5b_10b_raum: 0, band_lt100m: 50, band_lt100m_raum: 1357098099, bd_affiliated_share: 0.0327868852459016, cfp_professionals: 19, clients: 2806, custody_share: 0.114754098360656, employees: 82, fee_aum_pct_share: 0.967213114754098, fee_commissions_share: 0.0163934426229508, fee_fixed_share: 0.442622950819672, fee_hourly_share: 0.475409836065574, fee_other_share: 0.0327868852459016, fee_performance_share: 0.0163934426229508, fee_subscription_share: 0, financial_planning_share: 0.672131147540984, firms_with_raum: 51, iars: 74, mean_raum: 28719461.0980392, new_firms: 5, p25_raum: 9925925, p75_raum: 42270474, p90_raum: 53993089, raum_discretionary: 1349350268, top10_share: 0.463660400105438
- broker_dealer_affiliated_not_included: firms: 3, raum: 42312561851
- series: firms: segment: independent_sec, unit: count, points: as_of: 2018-10-01, value: 4; as_of: 2019-10-01, value: 5; as_of: 2020-10-01, value: 6; as_of: 2021-10-04, value: 7; as_of: 2022-10-03, value: 8; as_of: 2023-10-05, value: 6; as_of: 2024-10-01, value: 8; as_of: 2025-09-02, value: 12; as_of: 2026-10-02, value: 16, raum: segment: independent_sec, unit: usd, points: as_of: 2018-10-01, value: 2788446861; as_of: 2019-10-01, value: 2657090820; as_of: 2020-10-01, value: 2922555787; as_of: 2021-10-04, value: 3793189261; as_of: 2022-10-03, value: 4248929360; as_of: 2023-10-05, value: 4222347788; as_of: 2024-10-01, value: 5129400493; as_of: 2025-09-02, value: 6447205931; as_of: 2026-10-02, value: 9412855512, accounts: segment: independent_sec, unit: count, points: as_of: 2018-10-01, value: 2860; as_of: 2019-10-01, value: 3010; as_of: 2020-10-01, value: 3188; as_of: 2021-10-04, value: 4830; as_of: 2022-10-03, value: 5449; as_of: 2023-10-05, value: 5694; as_of: 2024-10-01, value: 7231; as_of: 2025-09-02, value: 11088; as_of: 2026-10-02, value: 16192, median_raum: segment: independent_sec, unit: usd, points: as_of: 2018-10-01, value: 695492173; as_of: 2019-10-01, value: 664768425; as_of: 2020-10-01, value: 677191365; as_of: 2021-10-04, value: 299871642; as_of: 2022-10-03, value: 309243419; as_of: 2023-10-05, value: 515929485.5; as_of: 2024-10-01, value: 264870640.5; as_of: 2025-09-02, value: 301108894; as_of: 2026-10-02, value: 292063437.5
- top_10: largest: rank: 1, crd: 106785, firm: Stack Financial Management Inc, city: Whitefish, value: 1992243735; rank: 2, crd: 109088, firm: Bitterroot Capital Advisors LLC, city: Bozeman, value: 1780038798; rank: 3, crd: 159103, firm: Allied Investment Advisors LLC, city: Billings, value: 1488036876; rank: 4, crd: 285967, firm: Xypn Sapphire, city: Bozeman, value: 1253476799; rank: 5, crd: 284780, firm: Main Line Retirement Advisors, LLC, city: Whitefish, value: 448606506; rank: 6, crd: 335451, firm: Evergreen Wealth Partners LLC, city: Kalispell, value: 405219640; rank: 7, crd: 130128, firm: Capstone Wealth, city: Billings, value: 354276732; rank: 8, crd: 118117, firm: Professional Financial Management, Inc., city: Bozeman, value: 304096440; rank: 9, crd: 333911, firm: Willow Creek Capital Management, Inc., city: Missoula, value: 280030435; rank: 10, crd: 153873, firm: Cladis Investment Advisory LLC, city: Billings, value: 242614579, fastest-growing: rank: 1, crd: 285967, firm: Xypn Sapphire, city: Bozeman, value: 2.90439305675239; rank: 2, crd: 159103, firm: Allied Investment Advisors LLC, city: Billings, value: 0.311550006526562; rank: 3, crd: 135304, firm: Royal Palms Capital, LLC, city: Whitefish, value: 0.228498286930418; rank: 4, crd: 109088, firm: Bitterroot Capital Advisors LLC, city: Bozeman, value: 0.224650803268002; rank: 5, crd: 130128, firm: Capstone Wealth, city: Billings, value: 0.176573455847505; rank: 6, crd: 153873, firm: Cladis Investment Advisory LLC, city: Billings, value: 0.174322785487735; rank: 7, crd: 165775, firm: Piedmont Capital Management, LLC, city: Whitefish, value: 0.158422713581615; rank: 8, crd: 118117, firm: Professional Financial Management, Inc., city: Bozeman, value: 0.146425077906735; rank: 9, crd: 284780, firm: Main Line Retirement Advisors, LLC, city: Whitefish, value: 0.13793139765267; rank: 10, crd: 321272, firm: Big Sky Wealth Advisors, LLC, city: Great Falls, value: 0.108664126451223, fastest-growing-3-year: rank: 1, crd: 153873, firm: Cladis Investment Advisory LLC, city: Billings, value: 0.322362833231954; rank: 2, crd: 159103, firm: Allied Investment Advisors LLC, city: Billings, value: 0.265437372370913; rank: 3, crd: 151292, firm: Life Planning Advisors LLC, city: Bigfork, value: 0.165902986341057; rank: 4, crd: 165775, firm: Piedmont Capital Management, LLC, city: Whitefish, value: 0.142195720440758; rank: 5, crd: 284780, firm: Main Line Retirement Advisors, LLC, city: Whitefish, value: 0.138805036246886; rank: 6, crd: 109088, firm: Bitterroot Capital Advisors LLC, city: Bozeman, value: 0.131512638862922; rank: 7, crd: 106785, firm: Stack Financial Management Inc, city: Whitefish, value: 0.0540373955054732, fastest-growing-5-year: rank: 1, crd: 285967, firm: Xypn Sapphire, city: Bozeman, value: 0.605830407407292; rank: 2, crd: 159103, firm: Allied Investment Advisors LLC, city: Billings, value: 0.245987263929026; rank: 3, crd: 109088, firm: Bitterroot Capital Advisors LLC, city: Bozeman, value: 0.109134011233667; rank: 4, crd: 165775, firm: Piedmont Capital Management, LLC, city: Whitefish, value: 0.103494905354041; rank: 5, crd: 284780, firm: Main Line Retirement Advisors, LLC, city: Whitefish, value: 0.0992031295138149; rank: 6, crd: 106785, firm: Stack Financial Management Inc, city: Whitefish, value: 0.0608250841585043, biggest-asset-gains: rank: 1, crd: 285967, firm: Xypn Sapphire, city: Bozeman, value: 932434122; rank: 2, crd: 335451, firm: Evergreen Wealth Partners LLC, city: Kalispell, value: 405219640; rank: 3, crd: 159103, firm: Allied Investment Advisors LLC, city: Billings, value: 353473292; rank: 4, crd: 109088, firm: Bitterroot Capital Advisors LLC, city: Bozeman, value: 326531567; rank: 5, crd: 106785, firm: Stack Financial Management Inc, city: Whitefish, value: 96896048; rank: 6, crd: 284780, firm: Main Line Retirement Advisors, LLC, city: Whitefish, value: 54376672; rank: 7, crd: 130128, firm: Capstone Wealth, city: Billings, value: 53167838; rank: 8, crd: 118117, firm: Professional Financial Management, Inc., city: Bozeman, value: 38840170; rank: 9, crd: 153873, firm: Cladis Investment Advisory LLC, city: Billings, value: 36015012; rank: 10, crd: 165775, firm: Piedmont Capital Management, LLC, city: Whitefish, value: 31704321, most-clients: rank: 1, crd: 159103, firm: Allied Investment Advisors LLC, city: Billings, value: 1071; rank: 2, crd: 151292, firm: Life Planning Advisors LLC, city: Bigfork, value: 979; rank: 3, crd: 106785, firm: Stack Financial Management Inc, city: Whitefish, value: 833; rank: 4, crd: 285967, firm: Xypn Sapphire, city: Bozeman, value: 796; rank: 5, crd: 335451, firm: Evergreen Wealth Partners LLC, city: Kalispell, value: 758; rank: 6, crd: 165775, firm: Piedmont Capital Management, LLC, city: Whitefish, value: 470; rank: 7, crd: 333911, firm: Willow Creek Capital Management, Inc., city: Missoula, value: 413; rank: 8, crd: 284780, firm: Main Line Retirement Advisors, LLC, city: Whitefish, value: 360; rank: 9, crd: 164439, firm: Diamond Investment Management Services, LLC, city: Arlee, value: 253; rank: 10, crd: 321272, firm: Big Sky Wealth Advisors, LLC, city: Great Falls, value: 207, client-growth: rank: 1, crd: 285967, firm: Xypn Sapphire, city: Bozeman, value: 1.44923076923077; rank: 2, crd: 159103, firm: Allied Investment Advisors LLC, city: Billings, value: 0.127368421052632; rank: 3, crd: 321272, firm: Big Sky Wealth Advisors, LLC, city: Great Falls, value: 0.0837696335078535; rank: 4, crd: 118117, firm: Professional Financial Management, Inc., city: Bozeman, value: 0.0700636942675159; rank: 5, crd: 284780, firm: Main Line Retirement Advisors, LLC, city: Whitefish, value: 0.0526315789473684; rank: 6, crd: 130128, firm: Capstone Wealth, city: Billings, value: 0.0327868852459017; rank: 7, crd: 151292, firm: Life Planning Advisors LLC, city: Bigfork, value: 0.0155601659751037; rank: 8, crd: 153873, firm: Cladis Investment Advisory LLC, city: Billings, value: 0; rank: 9, crd: 106785, firm: Stack Financial Management Inc, city: Whitefish, value: -0.0211515863689776; rank: 10, crd: 165775, firm: Piedmont Capital Management, LLC, city: Whitefish, value: -0.0729783037475346, most-accounts: rank: 1, crd: 285967, firm: Xypn Sapphire, city: Bozeman, value: 4262; rank: 2, crd: 159103, firm: Allied Investment Advisors LLC, city: Billings, value: 2411; rank: 3, crd: 335451, firm: Evergreen Wealth Partners LLC, city: Kalispell, value: 1792; rank: 4, crd: 106785, firm: Stack Financial Management Inc, city: Whitefish, value: 1524; rank: 5, crd: 165775, firm: Piedmont Capital Management, LLC, city: Whitefish, value: 1172; rank: 6, crd: 151292, firm: Life Planning Advisors LLC, city: Bigfork, value: 1071; rank: 7, crd: 118117, firm: Professional Financial Management, Inc., city: Bozeman, value: 692; rank: 8, crd: 284780, firm: Main Line Retirement Advisors, LLC, city: Whitefish, value: 679; rank: 9, crd: 321272, firm: Big Sky Wealth Advisors, LLC, city: Great Falls, value: 570; rank: 10, crd: 130128, firm: Capstone Wealth, city: Billings, value: 508, most-advisory-staff: rank: 1, crd: 285967, firm: Xypn Sapphire, city: Bozeman, value: 60; rank: 2, crd: 159103, firm: Allied Investment Advisors LLC, city: Billings, value: 11; rank: 3, crd: 106785, firm: Stack Financial Management Inc, city: Whitefish, value: 7; rank: 3, crd: 109088, firm: Bitterroot Capital Advisors LLC, city: Bozeman, value: 7; rank: 5, crd: 130128, firm: Capstone Wealth, city: Billings, value: 4; rank: 5, crd: 151292, firm: Life Planning Advisors LLC, city: Bigfork, value: 4; rank: 5, crd: 333911, firm: Willow Creek Capital Management, Inc., city: Missoula, value: 4; rank: 5, crd: 335451, firm: Evergreen Wealth Partners LLC, city: Kalispell, value: 4; rank: 9, crd: 153873, firm: Cladis Investment Advisory LLC, city: Billings, value: 3; rank: 9, crd: 165775, firm: Piedmont Capital Management, LLC, city: Whitefish, value: 3, most-hnw-clients: rank: 1, crd: 106785, firm: Stack Financial Management Inc, city: Whitefish, value: 590; rank: 2, crd: 159103, firm: Allied Investment Advisors LLC, city: Billings, value: 307; rank: 3, crd: 285967, firm: Xypn Sapphire, city: Bozeman, value: 182; rank: 4, crd: 335451, firm: Evergreen Wealth Partners LLC, city: Kalispell, value: 119; rank: 5, crd: 333911, firm: Willow Creek Capital Management, Inc., city: Missoula, value: 98; rank: 6, crd: 130128, firm: Capstone Wealth, city: Billings, value: 84; rank: 7, crd: 118117, firm: Professional Financial Management, Inc., city: Bozeman, value: 83; rank: 8, crd: 165775, firm: Piedmont Capital Management, LLC, city: Whitefish, value: 61; rank: 9, crd: 159486, firm: Pathfinder Planning and Investments, city: Missoula, value: 60; rank: 9, crd: 284780, firm: Main Line Retirement Advisors, LLC, city: Whitefish, value: 60, most-cfp-professionals: rank: 1, crd: 285967, firm: Xypn Sapphire, city: Bozeman, value: 41; rank: 2, crd: 118117, firm: Professional Financial Management, Inc., city: Bozeman, value: 2; rank: 2, crd: 159486, firm: Pathfinder Planning and Investments, city: Missoula, value: 2; rank: 2, crd: 299648, firm: Cocreate Financial, city: Bozeman, value: 2; rank: 2, crd: 308179, firm: Monteith Wealth, city: Bozeman, value: 2; rank: 2, crd: 312097, firm: Evergreen Financial Group, city: Billings, value: 2; rank: 2, crd: 318104, firm: Opulence Planning, city: Helena, value: 2; rank: 2, crd: 335451, firm: Evergreen Wealth Partners LLC, city: Kalispell, value: 2; rank: 9, crd: 106785, firm: Stack Financial Management Inc, city: Whitefish, value: 1; rank: 9, crd: 117520, firm: Bibler Financial Group, city: Big Sky, value: 1, newest: rank: 1, crd: 333911, firm: Willow Creek Capital Management, Inc., city: Missoula, value: 280030435; rank: 2, crd: 159486, firm: Pathfinder Planning and Investments, city: Missoula, value: 122347930; rank: 3, crd: 342137, firm: Springhill Wealth Management, city: Bozeman, value: 82041004; rank: 4, crd: 339673, firm: Switchbacks Capital Advisory, LLC, city: Missoula, value: 0; rank: 4, crd: 339835, firm: 406 PM, city: Billings, value: 0; rank: 4, crd: 342117, firm: CFD Investment Advisory LLC, city: Billings, value: 0; rank: 4, crd: 342978, firm: Evergreen Summit Advisors, LLC, city: Missoula, value: 0; rank: 4, crd: 344104, firm: High Country Stewardship, city: Bozeman, value: 0
- cities: name: Bozeman, independent_rias: 23, raum: 4140092369, url: https://advisoriq.com/ria/states/montana/bozeman/; name: Whitefish, independent_rias: 6, raum: 2868553786, url: https://advisoriq.com/ria/states/montana/whitefish/; name: Billings, independent_rias: 11, raum: 2187191750, url: https://advisoriq.com/ria/states/montana/billings/; name: Kalispell, independent_rias: 5, raum: 516494276, url: https://advisoriq.com/ria/states/montana/kalispell/; name: Missoula, independent_rias: 9, raum: 484441472, url: https://advisoriq.com/ria/states/montana/missoula/; name: Bigfork, independent_rias: 5, raum: 353316967, url: https://advisoriq.com/ria/states/montana/bigfork/
- iar_ce_status: not adopted

## 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 Montana](https://advisoriq.com/ria/rankings/largest/montana/)
- [Fastest-growing independent RIAs over one year in Montana](https://advisoriq.com/ria/rankings/fastest-growing/montana/)
- [Fastest-growing independent RIAs over three years in Montana](https://advisoriq.com/ria/rankings/fastest-growing-3-year/montana/)
- [Fastest-growing independent RIAs over five years in Montana](https://advisoriq.com/ria/rankings/fastest-growing-5-year/montana/)
- [IAR CE in Montana](https://advisoriq.com/ce/iar/montana/)

## Cite as

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

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