State market data

Wealth management firms in Puerto Rico

As of October 2, 2026, 38 wealth management firms, including broker-dealer firms, based in Puerto Rico reported $4.6 billion in regulatory assets under management; the largest by assets was Talon LLC, with $1.1 billion.

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

Wealth management firms: 38
SEC-registered: 11
State-registered: 27
Regulatory assets under management: $4.6 billion
Client accounts: 15,612
Median firm size: $59.0 million
Of which broker-dealer affiliated: 3, with $0

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

Top firms in Puerto Rico

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

Largest wealth firms by assets under management, including broker-dealer firms in Puerto Rico, top 10
Rank	Firm	City	RAUM
1	Talon LLC	San Juan	$1.1 billion
2	Freedom Advisory	Guaynabo	$880.6 million
3	Aton Financial LLC	San Juan	$600.9 million
4	Thomas Wright Asset Management, Inc.	San Juan	$341.3 million
5	Chapel Bridge Wealth Advisors	San Juan	$273.6 million
6	Generational Private Wealth	San Juan	$271.9 million
7	Adrian Day Asset Management	Dorado	$221.6 million
8	Vauban Wealth Management	Guaynabo	$181.2 million
9	Fortaleza Capital Partners, LLC	San Juan	$95.1 million
10	Concert Investment Advisory LLC	Guaynabo	$91.1 million

Top 100 in Puerto Rico

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

Fastest-growing wealth firms over one year, including broker-dealer firms in Puerto Rico, top 10
Rank	Firm	City	Growth	Starting value
1	Adrian Day Asset Management	Dorado	88.5%	$117.6 million
2	Generational Private Wealth	San Juan	87.6%	$145.0 million
3	Chapel Bridge Wealth Advisors	San Juan	50.2%	$182.1 million
4	Aton Financial LLC	San Juan	28.1%	$469.1 million
5	Freedom Advisory	Guaynabo	26.2%	$697.8 million
6	Vauban Wealth Management	Guaynabo	21.9%	$148.7 million
7	Talon LLC	San Juan	20.9%	$876.9 million
8	Thomas Wright Asset Management, Inc.	San Juan	6.6%	$320.1 million
9	Concert Investment Advisory LLC	Guaynabo	-28.1%	$126.8 million

Top 100 in Puerto Rico

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

Fastest-growing wealth firms over three years, including broker-dealer firms in Puerto Rico, top 10
Rank	Firm	City	Growth	Starting value
1	Adrian Day Asset Management	Dorado	27.1%	$108.0 million
2	Aton Financial LLC	San Juan	24.5%	$311.4 million
3	Freedom Advisory	Guaynabo	23.1%	$471.9 million
4	Chapel Bridge Wealth Advisors	San Juan	19.4%	$160.5 million
5	Thomas Wright Asset Management, Inc.	San Juan	13.9%	$230.9 million
6	Vauban Wealth Management	Guaynabo	11.4%	$130.9 million
7	Talon LLC	San Juan	8.7%	$826.4 million
8	Concert Investment Advisory LLC	Guaynabo	-10.9%	$128.8 million

Top 100 in Puerto Rico

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

Fastest-growing wealth firms over five years, including broker-dealer firms in Puerto Rico, top 10
Rank	Firm	City	Growth	Starting value
1	Talon LLC	San Juan	45.1%	$164.9 million
2	Aton Financial LLC	San Juan	17.5%	$268.4 million
3	Freedom Advisory	Guaynabo	15.6%	$427.3 million
4	Adrian Day Asset Management	Dorado	9.0%	$143.8 million
5	Thomas Wright Asset Management, Inc.	San Juan	8.0%	$232.5 million
6	Vauban Wealth Management	Guaynabo	2.4%	$161.0 million
7	Concert Investment Advisory LLC	Guaynabo	-3.7%	$110.0 million

Top 100 in Puerto Rico

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 Puerto Rico, top 10
Rank	Firm	City	Increase
1	Talon LLC	San Juan	$183.4 million
2	Freedom Advisory	Guaynabo	$182.9 million
3	Aton Financial LLC	San Juan	$131.8 million
4	Generational Private Wealth	San Juan	$126.9 million
5	Adrian Day Asset Management	Dorado	$104.1 million
6	Chapel Bridge Wealth Advisors	San Juan	$91.5 million
7	Vauban Wealth Management	Guaynabo	$32.5 million
8	Thomas Wright Asset Management, Inc.	San Juan	$21.2 million

Top 100 in Puerto Rico

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

Wealth firms with the most clients, including broker-dealer firms in Puerto Rico, top 10
Rank	Firm	City	Most clients
1	Talon LLC	San Juan	2,014
2	Freedom Advisory	Guaynabo	546
3	Caf Investments LLC	Guaynabo	466
4	Aton Financial LLC	San Juan	274
5	Lyon Bern, LLC	San Juan	220
6	Concert Investment Advisory LLC	Guaynabo	178
7	Adrian Day Asset Management	Dorado	147
8	Atlantis Investment Coaching, LLC	San Juan	123
9	Broxton Capital Advisors	Old San Juan	112
10	Sygnus Wealth PR LLC	Guaynabo	108

Top 100 in Puerto Rico

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 Puerto Rico, top 10
Rank	Firm	City	Growth	Starting value
1	Freedom Advisory	Guaynabo	17.7%	464
2	Aton Financial LLC	San Juan	5.4%	260
3	Concert Investment Advisory LLC	Guaynabo	4.1%	171
4	Adrian Day Asset Management	Dorado	0.7%	146
5	Talon LLC	San Juan	-4.3%	2,104

Top 100 in Puerto Rico

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

Wealth firms with the most accounts, including broker-dealer firms in Puerto Rico, top 10
Rank	Firm	City	Most accounts
1	Talon LLC	San Juan	11,189
2	Freedom Advisory	Guaynabo	938
3	Concert Investment Advisory LLC	Guaynabo	658
4	Caf Investments LLC	Guaynabo	532
5	Aton Financial LLC	San Juan	422
6	Atlantis Investment Coaching, LLC	San Juan	256
7	Adrian Day Asset Management	Dorado	234
8	Chapel Bridge Wealth Advisors	San Juan	233
9	Lyon Bern, LLC	San Juan	224
10	Generational Private Wealth	San Juan	217

Top 100 in Puerto Rico

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

Wealth firms with the most advisory staff, including broker-dealer firms in Puerto Rico, top 10
Rank	Firm	City	Most advisory staff
1	Talon LLC	San Juan	8
2	Aton Financial LLC	San Juan	7
3	Freedom Advisory	Guaynabo	6
3	Caf Investments LLC	Guaynabo	6
5	Atlantis Investment Coaching, LLC	San Juan	3
5	Lyon Bern, LLC	San Juan	3
5	Chapel Bridge Wealth Advisors	San Juan	3
5	Generational Private Wealth	San Juan	3
9	Adrian Day Asset Management	Dorado	2
9	Broxton Capital Advisors	Old San Juan	2

Top 100 in Puerto Rico

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 Puerto Rico, top 10
Rank	Firm	City	Most high net worth clients
1	Freedom Advisory	Guaynabo	166
2	Talon LLC	San Juan	98
3	Aton Financial LLC	San Juan	85
4	Adrian Day Asset Management	Dorado	69
5	Lyon Bern, LLC	San Juan	36
6	Sygnus Wealth PR LLC	Guaynabo	34
7	Finanxial Investment Advisors, Corp	San Juan	32
8	Thomas Wright Asset Management, Inc.	San Juan	30
9	Vauban Wealth Management	Guaynabo	29
10	Generational Private Wealth	San Juan	20

Top 100 in Puerto Rico

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

Wealth firms with the most CFP professionals, including broker-dealer firms in Puerto Rico, top 10
Rank	Firm	City	Most CFP professionals
1	Freedom Advisory	Guaynabo	2
1	Generational Private Wealth	San Juan	2
3	Pension Partners, LLC	San Juan	1
3	Finanxial Investment Advisors, Corp	San Juan	1

Top 100 in Puerto Rico

Newest wealth firms, including broker-dealer firms

Newest wealth firms, including broker-dealer firms in Puerto Rico, top 10
Rank	Firm	City	Amount
1	Nichols Group LLC	San Juan	$47.2 million
2	Poppy Capital 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.	San Juan	$0
2	Savile Capital Management 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.	San Juan	$0
2	Savile Private Wealth LLC	San Juan	$0
2	Infinity Strategies Advisors LLC	Not reported	$0

Top 100 in Puerto Rico

Over time

From the SEC's yearly files: SEC-registered wealth firms based in Puerto Rico, 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	4
October 1, 2019	3
October 1, 2020	6
October 4, 2021	5
October 3, 2022	6
October 5, 2023	6
October 1, 2024	9
September 2, 2025	7
October 2, 2026	11

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	$641.8 million
October 1, 2019	$608.7 million
October 1, 2020	$3.3 billion
October 4, 2021	$1.2 billion
October 3, 2022	$1.5 billion
October 5, 2023	$1.4 billion
October 1, 2024	$1.9 billion
September 2, 2025	$1.9 billion
October 2, 2026	$3.9 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	923
October 1, 2019	821
October 1, 2020	2,804
October 4, 2021	1,307
October 3, 2022	1,428
October 5, 2023	1,513
October 1, 2024	2,531
September 2, 2025	1,947
October 2, 2026	13,997

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	$192.2 million
October 1, 2019	$209.1 million
October 1, 2020	$222.8 million
October 4, 2021	$232.5 million
October 3, 2022	$227.1 million
October 5, 2023	$195.7 million
October 1, 2024	$217.0 million
September 2, 2025	$242.8 million
October 2, 2026	$273.6 million

The market in Puerto Rico now

Headline figures

Headline figures, as of October 2, 2026
Measure	All wealth firms	SEC-registered	State-registered
Firms	38	11	27
Regulatory assets under management	$4.6 billion	$3.9 billion	$695.0 million
Accounts	15,612	13,997	1,615
Clients	4,689	3,314	1,375
Employees	115	60	55
Advisory employees	73	34	39
Investment adviser representatives	75	36	39
Median RAUM	$59.0 million	$273.6 million	$29.0 million
Average RAUM	$164.9 million	$435.8 million	$36.6 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	20	1	19
RAUM of firms under $100 million	$786.2 million	$91.1 million	$695.0 million
Firms $100 million to $250 million	2	2	0
RAUM of firms $100 million to $250 million	$402.8 million	$402.8 million	$0
Firms $250 million to $500 million	3	3	0
RAUM of firms $250 million to $500 million	$886.7 million	$886.7 million	$0
Firms $500 million to $1 billion	2	2	0
RAUM of firms $500 million to $1 billion	$1.5 billion	$1.5 billion	$0
Firms $1 billion to $5 billion	1	1	0
RAUM of firms $1 billion to $5 billion	$1.1 billion	$1.1 billion	$0
Firms $5 billion to $10 billion	0	0	0
RAUM of firms $5 billion to $10 billion	$0	$0	$0
Firms $10 billion and up	0	0	0
RAUM of firms $10 billion and up	$0	$0	$0

Concentration

How much of the market the largest advisers hold.

Concentration, as of October 2, 2026
Measure	All wealth firms	State-registered
Top 10 share of RAUM	87.0%	89.3%

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		100.0%
Charge hourly fees		36.8%
Charge subscription fees		2.6%
Charge fixed fees		55.3%
Receive commissions		5.3%
Charge performance-based fees		21.1%
Other compensation		7.9%

How advisers are paid, as of October 2, 2026
Measure	All wealth firms	SEC-registered	State-registered
Charge a percentage of assets	100.0%	100.0%	100.0%
Charge hourly fees	36.8%	27.3%	40.7%
Charge subscription fees	2.6%	0.0%	3.7%
Charge fixed fees	55.3%	63.6%	51.9%
Receive commissions	5.3%	0.0%	7.4%
Charge performance-based fees	21.1%	27.3%	18.5%
Other compensation	7.9%	0.0%	11.1%

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	13.2%	36.4%	3.7%

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	13.2%	18.2%	11.1%

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	5	2	3
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	28	9	19
Discretionary RAUM	$3.9 billion	$3.3 billion	$593.6 million
CFP professionals	6	4	2
25th percentile RAUM	$19.0 million	$221.6 million	$6.0 million
75th percentile RAUM	$191.3 million	$600.9 million	$59.0 million
90th percentile RAUM	$419.2 million	$916.6 million	$81.1 million
Average account size	$295,771	$280,241	$430,363
Offer financial planning	60.5%	63.6%	59.3%
RAUM growth, one year	No data	104.4%	No data

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

Cities

San Juan 19 independent RIAs, $3.0 billion
Guaynabo 8 independent RIAs, $1.3 billion

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.