State market data

Wealth management firms in Pennsylvania

As of October 2, 2026, 939 wealth management firms, including broker-dealer firms, based in Pennsylvania reported $895.2 billion in regulatory assets under management; the largest by assets was Vanguard Advisers, Inc., with $344.6 billion.

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

Wealth management firms: 939
SEC-registered: 382
State-registered: 557
Regulatory assets under management: $895.2 billion
Client accounts: 2,106,829
Median firm size: $85.3 million
Of which broker-dealer affiliated: 41, with $552.8 billion

Pennsylvania has not adopted IAR continuing education. Status from NASAA's IAR CE map, checked October 5, 2026. IAR CE in Pennsylvania.

Top firms in Pennsylvania

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

Largest wealth firms by assets under management, including broker-dealer firms in Pennsylvania, top 10
Rank	Firm	City	RAUM
1	Vanguard Advisers, 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.	Malvern	$344.6 billion
2	Janney Montgomery Scott 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.	Philadelphia	$110.1 billion
3	PNC Wealth Management 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.	Pittsburgh	$30.3 billion
4	Lincoln Investment 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.	Fort Washington	$22.0 billion
5	Mycio Wealth Partners, LLC	Philadelphia	$15.8 billion
6	Great Valley Advisor Group, LLC	Berwyn	$10.6 billion
7	Callan Family Office, LLC	Radnor	$10.2 billion
8	Hornor, Townsend & Kent, 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.	Conshohocken	$9.0 billion
9	Capital Analysts 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.	Fort Washington	$8.8 billion
10	Wealthcare Advisory 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.	West Chester	$8.3 billion

Top 100 in Pennsylvania

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

Fastest-growing wealth firms over one year, including broker-dealer firms in Pennsylvania, top 10
Rank	Firm	City	Growth	Starting value
1	Kintra Wealth, LLC	Williamsport	225.6%	$460.9 million
2	Martin, Javan Von	Ephrata	133.5%	$407.8 million
3	PW Nova Financial Services LLC	Newtown	112.5%	$307.9 million
4	Corient SHC Partners (US) LP	Philadelphia	101.4%	$847.9 million
5	PTM Wealth Management, LLC	North Wales	76.9%	$175.3 million
6	Thayer Partners LLC	Wyndmoor	70.9%	$401.3 million
7	Invicta Advisors 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.	Oakmont	69.0%	$183.5 million
8	Taylor Securities Services, Inc.	Harrisburg	65.2%	$152.9 million
9	Thrive Capital Management, LLC	Fort Washington	65.1%	$397.7 million
10	Wick Capital Partners, LLC	Wayne	64.5%	$565.3 million

Top 100 in Pennsylvania

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

Fastest-growing wealth firms over three years, including broker-dealer firms in Pennsylvania, top 10
Rank	Firm	City	Growth	Starting value
1	Kintra Wealth, LLC	Williamsport	66.8%	$323.2 million
2	Interchange Capital Partners	Pittsburgh	50.7%	$217.1 million
3	Wedmont Private Capital	West Chester	49.9%	$1.0 billion
4	Foundation Wealth Management, LLC	Media	48.9%	$124.8 million
5	Ethos Financial Group, LLC	King of Prussia	48.7%	$651.8 million
6	Confluence Financial Partners	McMurray	46.8%	$2.5 billion
7	Traynor Capital Management	Malvern	43.3%	$823.1 million
8	Wick Capital Partners, LLC	Wayne	43.0%	$317.7 million
9	Callan Family Office, LLC	Radnor	42.3%	$3.5 billion
10	Kathmere Capital Management, LLC	Wayne	39.8%	$1.3 billion

Top 100 in Pennsylvania

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

Fastest-growing wealth firms over five years, including broker-dealer firms in Pennsylvania, top 10
Rank	Firm	City	Growth	Starting value
1	Wedmont Private Capital	West Chester	89.7%	$140.1 million
2	Prowell Financial Management, LLC	Exton	58.5%	$686.3 million
3	Kintra Wealth, LLC	Williamsport	43.7%	$245.4 million
4	Bryn Mawr Trust Advisors, 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.	Philadelphia	35.9%	$757.1 million
5	Thrive Capital Management, LLC	Fort Washington	34.9%	$146.9 million
6	Wick Capital Partners, LLC	Wayne	33.5%	$219.3 million
7	Sharp Financial	Horsham	30.6%	$132.1 million
8	Ewa, LLC	Pittsburgh	30.4%	$199.4 million
9	Equita Financial Network, Inc.	Fort Washington	29.4%	$107.6 million
10	Confluence Financial Partners	McMurray	28.8%	$2.2 billion

Top 100 in Pennsylvania

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 Pennsylvania, top 10
Rank	Firm	City	Increase
1	Vanguard Advisers, 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.	Malvern	$44.2 billion
2	Janney Montgomery Scott 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.	Philadelphia	$9.3 billion
3	Pitcairn	Conshohocken	$5.1 billion
4	PNC Wealth Management 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.	Pittsburgh	$3.7 billion
5	Callan Family Office, LLC	Radnor	$3.5 billion
6	Lincoln Investment 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.	Fort Washington	$3.1 billion
7	Confluence Financial Partners	McMurray	$2.4 billion
8	Wealthcare Advisory 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.	West Chester	$2.3 billion
9	Miller Investment Management, LP	West Conshohocken	$1.4 billion
10	Mycio Wealth Partners, LLC	Philadelphia	$1.4 billion

Top 100 in Pennsylvania

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

Wealth firms with the most clients, including broker-dealer firms in Pennsylvania, top 10
Rank	Firm	City	Most clients
1	Vanguard Advisers, 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.	Malvern	880,958
2	Janney Montgomery Scott 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.	Philadelphia	244,839
3	PNC Wealth Management 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.	Pittsburgh	164,105
4	Lincoln Investment 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.	Fort Washington	138,964
5	Transamerica Financial Advisors, 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.	Philadelphia	42,735
6	Great Valley Advisor Group, LLC	Berwyn	37,069
7	Hornor, Townsend & Kent, 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.	Conshohocken	28,369
8	Capital Analysts 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.	Fort Washington	15,897
9	Wealthcare Advisory 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.	West Chester	10,948
10	HBKS Wealth Advisors	Erie	8,124

Top 100 in Pennsylvania

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 Pennsylvania, top 10
Rank	Firm	City	Growth	Starting value
1	MTM Financial Group, LLC	Bethlehem	170.3%	1,212
2	MFG Private Wealth	Canonsburg	109.2%	380
3	Trident Advisors Inc	Doylestown	71.8%	131
4	Beacon Bridge Wealth Partners, LLC	Lower Gwynedd	70.9%	430
5	Stonecrop Wealth Advisors, LLC	West Chester	69.6%	896
6	Wealthfd	Conshohocken	55.3%	293
7	Wick Capital Partners, LLC	Wayne	54.2%	238
8	Thayer Partners LLC	Wyndmoor	51.6%	246
9	Alvin Clay Financial Advisors, LLC	Jenkintown	49.6%	119
10	Alden Investment Group 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.	Wayne	49.3%	978

Top 100 in Pennsylvania

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

Wealth firms with the most accounts, including broker-dealer firms in Pennsylvania, top 10
Rank	Firm	City	Most accounts
1	Vanguard Advisers, 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.	Malvern	791,528
2	Janney Montgomery Scott 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.	Philadelphia	243,808
3	Lincoln Investment 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.	Fort Washington	199,383
4	PNC Wealth Management 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.	Pittsburgh	164,103
5	Transamerica Financial Advisors, 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.	Philadelphia	42,735
6	Great Valley Advisor Group, LLC	Berwyn	37,014
7	Hornor, Townsend & Kent, 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.	Conshohocken	28,369
8	Wealthcare Advisory 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.	West Chester	24,675
9	Capital Analysts 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.	Fort Washington	23,420
10	HBKS Wealth Advisors	Erie	21,190

Top 100 in Pennsylvania

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

Wealth firms with the most advisory staff, including broker-dealer firms in Pennsylvania, top 10
Rank	Firm	City	Most advisory staff
1	Vanguard Advisers, 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.	Malvern	1,903
2	Janney Montgomery Scott 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.	Philadelphia	1,614
3	Transamerica Financial Advisors, 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.	Philadelphia	991
4	Lincoln Investment 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.	Fort Washington	874
5	PNC Wealth Management 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.	Pittsburgh	825
6	Capital Analysts 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.	Fort Washington	667
7	Hornor, Townsend & Kent, 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.	Conshohocken	426
8	Great Valley Advisor Group, LLC	Berwyn	192
9	Wealthcare Advisory 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.	West Chester	173
10	McAdam LLC	Radnor	138

Top 100 in Pennsylvania

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 Pennsylvania, top 10
Rank	Firm	City	Most high net worth clients
1	Janney Montgomery Scott 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.	Philadelphia	100,743
2	Vanguard Advisers, 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.	Malvern	80,159
3	Lincoln Investment 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.	Fort Washington	4,604
4	PNC Wealth Management 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.	Pittsburgh	3,185
5	Capital Analysts 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.	Fort Washington	3,042
6	Vicus Capital, Inc.	State College	2,218
7	Wealthcare Advisory 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.	West Chester	2,184
8	Confluence Financial Partners	McMurray	1,910
9	Great Valley Advisor Group, LLC	Berwyn	1,769
10	HBKS Wealth Advisors	Erie	1,597

Top 100 in Pennsylvania

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

Wealth firms with the most CFP professionals, including broker-dealer firms in Pennsylvania, top 10
Rank	Firm	City	Most CFP professionals
1	Vanguard Advisers, 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.	Malvern	590
2	Janney Montgomery Scott 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.	Philadelphia	246
3	Lincoln Investment 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.	Fort Washington	131
4	Capital Analysts 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.	Fort Washington	110
5	Hornor, Townsend & Kent, 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.	Conshohocken	65
6	PNC Wealth Management 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.	Pittsburgh	47
7	Wealthcare Advisory 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.	West Chester	46
8	Great Valley Advisor Group, LLC	Berwyn	45
9	HBKS Wealth Advisors	Erie	31
10	McAdam LLC	Radnor	28

Top 100 in Pennsylvania

Newest wealth firms, including broker-dealer firms

Newest wealth firms, including broker-dealer firms in Pennsylvania, top 10
Rank	Firm	City	Amount
1	Boden Wealth	Lemoyne	$581.8 million
2	Valen Private Capital, LLC.	Paoli	$482.6 million
3	Arsenal Capital Advisors LLC	Conshohocken	$267.1 million
4	DVB Private Wealth	Harrisburg	$225.7 million
5	Stillwater Private Wealth	Allenton	$176.8 million
6	Aeternitas Investment Management, LLC	Yardley	$172.5 million
7	Auerbach Investment Services, LLC	Narberth	$150.2 million
8	Evident Financial	Erie	$149.7 million
9	Lynch Investment Planning, LLC	Newtown Square	$143.3 million
10	Elm Capital Management LLC	Pittsburgh	$133.4 million

Top 100 in Pennsylvania

Over time

From the SEC's yearly files: SEC-registered wealth firms based in Pennsylvania, 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	267
October 1, 2019	269
October 1, 2020	282
October 4, 2021	315
October 3, 2022	331
October 5, 2023	324
October 1, 2024	339
September 2, 2025	355
October 2, 2026	382

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	$386.2 billion
October 1, 2019	$396.8 billion
October 1, 2020	$509.4 billion
October 4, 2021	$624.7 billion
October 3, 2022	$747.6 billion
October 5, 2023	$660.0 billion
October 1, 2024	$732.5 billion
September 2, 2025	$760.7 billion
October 2, 2026	$882.6 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	1,302,251
October 1, 2019	1,183,645
October 1, 2020	1,264,541
October 4, 2021	1,428,568
October 3, 2022	1,613,126
October 5, 2023	1,678,528
October 1, 2024	1,905,176
September 2, 2025	1,900,458
October 2, 2026	2,058,823

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	$300.0 million
October 1, 2019	$286.0 million
October 1, 2020	$301.0 million
October 4, 2021	$324.4 million
October 3, 2022	$361.6 million
October 5, 2023	$320.8 million
October 1, 2024	$349.6 million
September 2, 2025	$378.1 million
October 2, 2026	$398.4 million

The market in Pennsylvania now

Headline figures

Headline figures, as of October 2, 2026
Measure	All wealth firms	SEC-registered	State-registered
Firms	939	382	557
Regulatory assets under management	$895.2 billion	$882.6 billion	$12.6 billion
Accounts	2,106,829	2,058,823	48,006
Clients	1,810,584	1,779,470	31,114
Employees	15,843	14,906	937
Advisory employees	11,438	10,652	786
Investment adviser representatives	12,292	11,486	806
Median RAUM	$85.3 million	$398.4 million	$21.5 million
Average RAUM	$1.1 billion	$2.4 billion	$30.6 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	409	6	403
RAUM of firms under $100 million	$12.1 billion	$373.0 million	$11.7 billion
Firms $100 million to $250 million	130	122	8
RAUM of firms $100 million to $250 million	$21.5 billion	$20.5 billion	$908.6 million
Firms $250 million to $500 million	86	86	0
RAUM of firms $250 million to $500 million	$30.4 billion	$30.4 billion	$0
Firms $500 million to $1 billion	68	68	0
RAUM of firms $500 million to $1 billion	$47.6 billion	$47.6 billion	$0
Firms $1 billion to $5 billion	72	72	0
RAUM of firms $1 billion to $5 billion	$155.8 billion	$155.8 billion	$0
Firms $5 billion to $10 billion	12	12	0
RAUM of firms $5 billion to $10 billion	$84.3 billion	$84.3 billion	$0
Firms $10 billion and up	7	7	0
RAUM of firms $10 billion and up	$543.6 billion	$543.6 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		63.6%
Top 100 share of RAUM		88.5%

Concentration, as of October 2, 2026
Measure	All wealth firms	SEC-registered	State-registered
Top 10 share of RAUM	63.6%	64.5%	8.8%
Top 100 share of RAUM	88.5%	89.8%	59.1%

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		90.4%
Charge hourly fees		49.8%
Charge subscription fees		0.9%
Charge fixed fees		63.5%
Receive commissions		1.9%
Charge performance-based fees		4.7%
Other compensation		9.6%

How advisers are paid, as of October 2, 2026
Measure	All wealth firms	SEC-registered	State-registered
Charge a percentage of assets	90.4%	98.4%	84.9%
Charge hourly fees	49.8%	46.3%	52.2%
Charge subscription fees	0.9%	1.0%	0.7%
Charge fixed fees	63.5%	70.9%	58.3%
Receive commissions	1.9%	3.9%	0.5%
Charge performance-based fees	4.7%	5.5%	4.1%
Other compensation	9.6%	8.4%	10.4%

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	29.0%	54.5%	11.5%

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	5.3%	9.4%	2.5%

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	108	34	74
Successions	No data	1	No data

Other measures

Other measures, as of October 2, 2026
Measure	All wealth firms	SEC-registered	State-registered
Firms reporting RAUM	784	373	411
Discretionary RAUM	$550.8 billion	$540.2 billion	$10.5 billion
CFP professionals	2,528	2,316	212
25th percentile RAUM	$18.5 million	$192.2 million	$6.5 million
75th percentile RAUM	$378.0 million	$971.5 million	$49.5 million
90th percentile RAUM	$1.3 billion	$2.8 billion	$74.4 million
Average account size	$424,910	$428,702	$262,284
Offer financial planning	79.2%	85.9%	74.7%
RAUM growth, one year	No data	16.0%	No data

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

Cities

Pittsburgh 72 independent RIAs, $37.8 billion
Philadelphia 46 independent RIAs, $37.8 billion
Radnor 17 independent RIAs, $20.3 billion
Berwyn 11 independent RIAs, $15.2 billion
West Conshohocken 7 independent RIAs, $14.3 billion
Conshohocken 13 independent RIAs, $10.4 billion
Erie 13 independent RIAs, $9.2 billion
Lancaster 37 independent RIAs, $8.9 billion
West Chester 27 independent RIAs, $8.8 billion
Sewickley 13 independent RIAs, $8.4 billion
Malvern 20 independent RIAs, $8.3 billion
Wayne 17 independent RIAs, $7.5 billion
Exton 8 independent RIAs, $7.3 billion
Newtown 17 independent RIAs, $6.4 billion
State College 9 independent RIAs, $5.5 billion
King of Prussia 14 independent RIAs, $5.0 billion
Newtown Square 7 independent RIAs, $4.6 billion
Blue Bell 12 independent RIAs, $4.6 billion
Chadds Ford 8 independent RIAs, $4.4 billion
Wexford 16 independent RIAs, $4.2 billion
Bethlehem 12 independent RIAs, $4.0 billion
Yardley 15 independent RIAs, $3.4 billion
New Hope 7 independent RIAs, $3.1 billion
Canonsburg 11 independent RIAs, $3.0 billion
Harrisburg 8 independent RIAs, $2.5 billion
Camp Hill 8 independent RIAs, $2.2 billion
Kennett Square 5 independent RIAs, $2.1 billion
Allentown 14 independent RIAs, $2.0 billion
Wyomissing 8 independent RIAs, $1.8 billion
Media 11 independent RIAs, $1.8 billion
Mechanicsburg 11 independent RIAs, $1.6 billion
York 9 independent RIAs, $1.6 billion
Doylestown 16 independent RIAs, $1.4 billion
Paoli 9 independent RIAs, $1.3 billion
Downingtown 10 independent RIAs, $1.2 billion
Phoenixville 8 independent RIAs, $1.0 billion
Huntingdon Valley 5 independent RIAs, $996.1 million
Bryn Mawr 7 independent RIAs, $996.1 million
Center Valley 5 independent RIAs, $854.3 million
Coatesville 6 independent RIAs, $806.4 million
Collegeville 6 independent RIAs, $754.4 million
Ambler 5 independent RIAs, $681.7 million
Lewisburg 5 independent RIAs, $591.8 million
Jenkintown 6 independent RIAs, $504.8 million
North Wales 5 independent RIAs, $390.3 million
Pottstown 5 independent RIAs, $312.7 million
Lansdale 5 independent RIAs, $173.9 million
Easton 6 independent RIAs, $169.3 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.