State market data

Independent RIAs in Rhode Island

As of October 2, 2026, 72 independent wealth management RIAs based in Rhode Island reported $20.5 billion in regulatory assets under management; the largest by assets was Parsons Capital Management Inc, with $2.4 billion.

Include wirehouses and broker-dealer firms

Independent wealth management RIAs: 72
SEC-registered: 37
State-registered: 35
Regulatory assets under management: $20.5 billion
Client accounts: 38,492
Median firm size: $124.5 million
Broker-dealer affiliated firms, not included: 6, with $14.2 billion

Rhode Island requires IAR continuing education, in effect since 2025. Status from NASAA's IAR CE map, checked October 5, 2026. IAR CE in Rhode Island.

Top firms in Rhode Island

Largest independent RIAs by assets under management

Largest independent RIAs by assets under management in Rhode Island, top 10
Rank	Firm	City	RAUM
1	Parsons Capital Management Inc	Providence	$2.4 billion
2	Young Richard C & Co Ltd	Newport	$1.8 billion
3	Professional Planning Group	Westerly	$1.3 billion
4	Capital Wealth Management, LLC	West Warwick	$1.1 billion
5	McGuire Wealth Management	Wakefield	$1.1 billion
6	Strategicpoint Investment Advisors LLC	Providence	$914.8 million
7	Canton Hathaway LLC	Providence	$866.1 million
8	Wealthcare Investment Partners LLC	Portsmouth	$859.6 million
9	Blue Fin Capital, Inc.	Warren	$755.9 million
10	Newman Dignan & Sheerar, Inc	Providence	$731.3 million

Top 100 in Rhode Island

Fastest-growing independent RIAs over one year

Fastest-growing independent RIAs over one year in Rhode Island, top 10
Rank	Firm	City	Growth	Starting value
1	Wealthcare Investment Partners LLC	Portsmouth	31.3%	$654.8 million
2	Axis Wealth Partners, LLC	East Providence	30.3%	$289.7 million
3	McGuire Wealth Management	Wakefield	29.6%	$819.0 million
4	Canton Hathaway LLC	Providence	28.8%	$672.7 million
5	Breachway Investments, LLC	Charlestown	25.6%	$131.3 million
6	Sowa Financial Group	Lincoln	23.2%	$419.7 million
7	Forbes Financial Planning, Inc.	East Greenwich	23.0%	$195.5 million
8	Bountiful Investment Management LLC	Rumford	22.2%	$131.3 million
9	Eliot Rose Wealth Management, LLC	Providence	21.9%	$152.8 million
10	Financial Independence, LLC	Warwick	18.9%	$242.3 million

Top 100 in Rhode Island

Fastest-growing independent RIAs over three years

Fastest-growing independent RIAs over three years in Rhode Island, top 10
Rank	Firm	City	Growth	Starting value
1	Axis Wealth Partners, LLC	East Providence	29.8%	$172.7 million
2	Mystic Asset Management	Warwick	28.8%	$287.8 million
3	Blue Fin Capital, Inc.	Warren	27.4%	$365.7 million
4	McGuire Wealth Management	Wakefield	23.9%	$558.2 million
5	Wealthcare Investment Partners LLC	Portsmouth	23.4%	$457.7 million
6	The Retirement Planning Company of New England, Inc.	Warwick	20.0%	$228.2 million
7	SK Wealth Management, LLC	Providence	19.2%	$377.2 million
8	Sowa Financial Group	Lincoln	18.5%	$310.8 million
9	Eliot Rose Wealth Management, LLC	Providence	17.9%	$113.7 million
10	Forbes Financial Planning, Inc.	East Greenwich	16.6%	$151.7 million

Top 100 in Rhode Island

Fastest-growing independent RIAs over five years

Fastest-growing independent RIAs over five years in Rhode Island, top 10
Rank	Firm	City	Growth	Starting value
1	Axis Wealth Partners, LLC	East Providence	25.2%	$122.9 million
2	Mystic Asset Management	Warwick	18.2%	$266.8 million
3	Wealthcare Investment Partners LLC	Portsmouth	17.0%	$391.6 million
4	Blue Fin Capital, Inc.	Warren	16.4%	$353.9 million
5	McGuire Wealth Management	Wakefield	15.2%	$523.0 million
6	The Retirement Planning Company of New England, Inc.	Warwick	13.4%	$210.6 million
7	Eliot Rose Wealth Management, LLC	Providence	13.0%	$101.3 million
8	Canton Hathaway LLC	Providence	12.8%	$474.3 million
9	Wealth Management Resources, Inc.	Smithfield	12.5%	$213.6 million
10	SK Wealth Management, LLC	Providence	11.9%	$363.8 million

Top 100 in Rhode Island

Independent RIAs with the biggest asset gains over one year

Independent RIAs with the biggest asset gains over one year in Rhode Island, top 10
Rank	Firm	City	Increase
1	Parsons Capital Management Inc	Providence	$289.5 million
2	McGuire Wealth Management	Wakefield	$242.0 million
3	Young Richard C & Co Ltd	Newport	$238.5 million
4	Wealthcare Investment Partners LLC	Portsmouth	$204.8 million
5	Canton Hathaway LLC	Providence	$193.4 million
6	Professional Planning Group	Westerly	$150.0 million
7	Capital Wealth Management, LLC	West Warwick	$136.1 million
8	Strategicpoint Investment Advisors LLC	Providence	$108.4 million
9	Blue Fin Capital, Inc.	Warren	$105.3 million
10	Sowa Financial Group	Lincoln	$97.3 million

Top 100 in Rhode Island

Independent RIAs with the most clients

Independent RIAs with the most clients in Rhode Island, top 10
Rank	Firm	City	Most clients
1	Wealthcare Investment Partners LLC	Portsmouth	1,853
2	Professional Planning Group	Westerly	1,292
3	Forbes Financial Planning, Inc.	East Greenwich	898
4	Young Richard C & Co Ltd	Newport	813
5	Axis Wealth Partners, LLC	East Providence	801
6	Parsons Capital Management Inc	Providence	780
7	Strategicpoint Investment Advisors LLC	Providence	714
8	Blue Fin Capital, Inc.	Warren	683
9	Capital Wealth Management, LLC	West Warwick	655
10	M. W. Aragao Investment Advisors, LLC	Cumberland	653

Top 100 in Rhode Island

Independent RIAs with the fastest client growth over one year

Independent RIAs with the fastest client growth over one year in Rhode Island, top 10
Rank	Firm	City	Growth	Starting value
1	Blue Fin Capital, Inc.	Warren	63.4%	418
2	Breachway Investments, LLC	Charlestown	26.4%	193
3	Newman Dignan & Sheerar, Inc	Providence	13.8%	471
4	Mystic Asset Management	Warwick	13.4%	127
5	Signet Investment Advisory Group, Inc.	Providence	12.5%	176
6	Axis Wealth Partners, LLC	East Providence	12.2%	714
7	Sowa Financial Group	Lincoln	8.7%	531
8	Wealthcare Investment Partners LLC	Portsmouth	6.4%	1,741
9	Financial Independence, LLC	Warwick	6.3%	270
10	McGuire Wealth Management	Wakefield	5.7%	299

Top 100 in Rhode Island

Independent RIAs with the most accounts

Independent RIAs with the most accounts in Rhode Island, top 10
Rank	Firm	City	Most accounts
1	Wealthcare Investment Partners LLC	Portsmouth	3,208
2	Professional Planning Group	Westerly	2,395
3	Young Richard C & Co Ltd	Newport	2,042
4	Parsons Capital Management Inc	Providence	1,942
5	Strategicpoint Investment Advisors LLC	Providence	1,934
6	Axis Wealth Partners, LLC	East Providence	1,686
7	Wealth Management Resources, Inc.	Smithfield	1,508
8	Sowa Financial Group	Lincoln	1,400
9	The Retirement Planning Company of New England, Inc.	Warwick	1,312
10	SK Wealth Management, LLC	Providence	1,206

Top 100 in Rhode Island

Independent RIAs with the most advisory staff

Independent RIAs with the most advisory staff in Rhode Island, top 10
Rank	Firm	City	Most advisory staff
1	Parsons Capital Management Inc	Providence	12
2	Professional Planning Group	Westerly	9
2	Capital Wealth Management, LLC	West Warwick	9
4	Young Richard C & Co Ltd	Newport	8
5	First Financial Advisory Services Inc	Westerly	7
6	Wealth Management Resources, Inc.	Smithfield	6
6	Newman Dignan & Sheerar, Inc	Providence	6
6	Strategicpoint Investment Advisors LLC	Providence	6
6	Ncu Investment Solutions	Smithfiled	6
6	Axis Wealth Partners, LLC	East Providence	6

Top 100 in Rhode Island

Independent RIAs with the most high net worth clients

Independent RIAs with the most high net worth clients in Rhode Island, top 10
Rank	Firm	City	Most high net worth clients
1	Young Richard C & Co Ltd	Newport	505
2	Wealthcare Investment Partners LLC	Portsmouth	461
3	Capital Wealth Management, LLC	West Warwick	423
4	Forbes Financial Planning, Inc.	East Greenwich	409
5	Blue Fin Capital, Inc.	Warren	402
6	Parsons Capital Management Inc	Providence	381
7	Professional Planning Group	Westerly	378
8	Strategicpoint Investment Advisors LLC	Providence	305
9	Newman Dignan & Sheerar, Inc	Providence	249
10	SK Wealth Management, LLC	Providence	179

Top 100 in Rhode Island

Independent RIAs with the most CFP professionals

Independent RIAs with the most CFP professionals in Rhode Island, top 10
Rank	Firm	City	Most CFP professionals
1	SK Wealth Management, LLC	Providence	5
2	Wealth Management Resources, Inc.	Smithfield	3
2	Parsons Capital Management Inc	Providence	3
2	Newman Dignan & Sheerar, Inc	Providence	3
2	Sowa Financial Group	Lincoln	3
2	Capital Wealth Management, LLC	West Warwick	3
7	Professional Planning Group	Westerly	2
7	Lincoln Capital Corporation	East Greenwich	2
7	Ncu Investment Solutions	Smithfiled	2
7	Financial Independence, LLC	Warwick	2

Top 100 in Rhode Island

Newest independent RIAs

Newest independent RIAs in Rhode Island, top 10
Rank	Firm	City	Amount
1	Veritas Wealth Management	North Kingstown	$219.9 million
2	CB Capital LLC	North Smithfield	$124.5 million
3	Ncu Investment Solutions	Smithfiled	$107.6 million
4	Experience Your Wealth, LLC	Bristol	$105.3 million
5	Blue Chip Financial Advisors, LLC	East Providence	$104.1 million
6	Balanced Wealth Management, LLC.	West Warwick	$102.0 million
7	Quahog Investments LLC	Richmond	$300,000
8	Alvarez & Associates Financial	Central Falls	$0
8	Datum Wealth Management	Warwick	$0

Top 100 in Rhode Island

Over time

From the SEC's yearly files: SEC-registered independent RIAs based in Rhode Island, 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.

Data table

Firms
As of	Firms
October 1, 2018	32
October 1, 2019	31
October 1, 2020	34
October 4, 2021	37
October 3, 2022	38
October 5, 2023	37
October 1, 2024	35
September 2, 2025	36
October 2, 2026	37

Regulatory assets under managementSEC-registered independent RIAs. 9 snapshots, October 1, 2018 to October 2, 2026.

Data table

Regulatory assets under management
As of	Regulatory assets under management
October 1, 2018	$12.9 billion
October 1, 2019	$12.5 billion
October 1, 2020	$15.1 billion
October 4, 2021	$16.4 billion
October 3, 2022	$19.1 billion
October 5, 2023	$16.1 billion
October 1, 2024	$16.2 billion
September 2, 2025	$17.8 billion
October 2, 2026	$19.5 billion

Client accountsSEC-registered independent RIAs. 9 snapshots, October 1, 2018 to October 2, 2026.

Data table

Client accounts
As of	Client accounts
October 1, 2018	22,179
October 1, 2019	22,970
October 1, 2020	25,302
October 4, 2021	27,883
October 3, 2022	30,317
October 5, 2023	31,865
October 1, 2024	30,515
September 2, 2025	32,712
October 2, 2026	35,203

Median firm size (RAUM)SEC-registered independent RIAs. 9 snapshots, October 1, 2018 to October 2, 2026.

Data table

Median firm size (RAUM)
As of	Median firm size (RAUM)
October 1, 2018	$249.2 million
October 1, 2019	$259.8 million
October 1, 2020	$291.6 million
October 4, 2021	$322.3 million
October 3, 2022	$353.5 million
October 5, 2023	$287.8 million
October 1, 2024	$333.7 million
September 2, 2025	$340.7 million
October 2, 2026	$377.4 million

The market in Rhode Island now

Headline figures

Headline figures, as of October 2, 2026
Measure	Independent RIAs	SEC-registered	State-registered
Firms	72	37	35
Regulatory assets under management	$20.5 billion	$19.5 billion	$1.1 billion
Accounts	38,492	35,203	3,289
Clients	19,224	16,692	2,532
Employees	308	249	59
Advisory employees	194	147	47
Investment adviser representatives	204	157	47
Median RAUM	$124.5 million	$377.4 million	$22.5 million
Average RAUM	$306.5 million	$525.7 million	$36.1 million

Firms by size

Advisers grouped by regulatory assets under management.

Firms by size, as of October 2, 2026
Measure	Independent RIAs	SEC-registered	State-registered
Firms under $100 million	29	0	29
RAUM of firms under $100 million	$952.6 million	$0	$952.6 million
Firms $100 million to $250 million	15	14	1
RAUM of firms $100 million to $250 million	$2.3 billion	$2.2 billion	$130.3 million
Firms $250 million to $500 million	10	10	0
RAUM of firms $250 million to $500 million	$3.6 billion	$3.6 billion	$0
Firms $500 million to $1 billion	8	8	0
RAUM of firms $500 million to $1 billion	$5.9 billion	$5.9 billion	$0
Firms $1 billion to $5 billion	5	5	0
RAUM of firms $1 billion to $5 billion	$7.7 billion	$7.7 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	Independent RIAs	SEC-registered	State-registered
Top 10 share of RAUM	57.6%	60.8%	70.5%

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.
Measure	Bar	Value
Charge a percentage of assets		94.4%
Charge hourly fees		58.3%
Charge subscription fees		0.0%
Charge fixed fees		62.5%
Receive commissions		6.9%
Charge performance-based fees		1.4%
Other compensation		9.7%

How advisers are paid, as of October 2, 2026
Measure	Independent RIAs	SEC-registered	State-registered
Charge a percentage of assets	94.4%	97.3%	91.4%
Charge hourly fees	58.3%	62.2%	54.3%
Charge subscription fees	0.0%	0.0%	0.0%
Charge fixed fees	62.5%	73.0%	51.4%
Receive commissions	6.9%	10.8%	2.9%
Charge performance-based fees	1.4%	2.7%	0.0%
Other compensation	9.7%	10.8%	8.6%

Custody

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

Custody, as of October 2, 2026
Measure	Independent RIAs	SEC-registered	State-registered
Have custody	30.6%	43.2%	17.1%

Broker-dealer and other affiliations

From Form ADV Items 6 and 7.

Broker-dealer and other affiliations, as of October 2, 2026
Measure	Independent RIAs	SEC-registered	State-registered
Broker-dealer affiliated	1.4%	2.7%	0.0%

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	Independent RIAs	SEC-registered	State-registered
New registrations	9	6	3
Successions	No data	0	No data

Other measures

Other measures, as of October 2, 2026
Measure	Independent RIAs	SEC-registered	State-registered
Firms reporting RAUM	67	37	30
Discretionary RAUM	$19.1 billion	$18.1 billion	$1.1 billion
CFP professionals	55	40	15
25th percentile RAUM	$32.1 million	$186.3 million	$10.7 million
75th percentile RAUM	$389.6 million	$731.3 million	$62.2 million
90th percentile RAUM	$862.2 million	$1.1 billion	$73.4 million
Average account size	$533,499	$552,582	$329,241
Offer financial planning	79.2%	83.8%	74.3%
RAUM growth, one year	No data	9.4%	No data

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

Cities

Providence 14 independent RIAs, $6.8 billion
Warwick 9 independent RIAs, $1.8 billion
East Greenwich 5 independent RIAs, $695.6 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.