State market data

Wealth management firms in Rhode Island

As of October 2, 2026, 78 wealth management firms, including broker-dealer firms, based in Rhode Island reported $34.7 billion in regulatory assets under management; the largest by assets was Citizens Securities, Inc., with $12.9 billion.

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

Wealth management firms: 78
SEC-registered: 41
State-registered: 37
Regulatory assets under management: $34.7 billion
Client accounts: 102,259
Median firm size: $130.3 million
Of which broker-dealer affiliated: 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 wealth firms by assets under management, including broker-dealer firms

Largest wealth firms by assets under management, including broker-dealer firms in Rhode Island, top 10
Rank	Firm	City	RAUM
1	Citizens Securities, 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.	Johnston	$12.9 billion
2	Parsons Capital Management Inc	Providence	$2.4 billion
3	Young Richard C & Co Ltd	Newport	$1.8 billion
4	Professional Planning Group	Westerly	$1.3 billion
5	Capital Wealth Management, LLC	West Warwick	$1.1 billion
6	McGuire Wealth Management	Wakefield	$1.1 billion
7	Strategicpoint Investment Advisors LLC	Providence	$914.8 million
8	Canton Hathaway LLC	Providence	$866.1 million
9	Wealthcare Investment Partners LLC	Portsmouth	$859.6 million
10	Blue Fin Capital, Inc.	Warren	$755.9 million

Top 100 in Rhode Island

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

Fastest-growing wealth firms over one year, including broker-dealer firms in Rhode Island, top 10
Rank	Firm	City	Growth	Starting value
1	Citizens Securities, 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.	Johnston	40.1%	$9.2 billion
2	Wealthcare Investment Partners LLC	Portsmouth	31.3%	$654.8 million
3	Axis Wealth Partners, LLC	East Providence	30.3%	$289.7 million
4	McGuire Wealth Management	Wakefield	29.6%	$819.0 million
5	Canton Hathaway LLC	Providence	28.8%	$672.7 million
6	Breachway Investments, LLC	Charlestown	25.6%	$131.3 million
7	Sowa Financial Group	Lincoln	23.2%	$419.7 million
8	Forbes Financial Planning, Inc.	East Greenwich	23.0%	$195.5 million
9	Bountiful Investment Management LLC	Rumford	22.2%	$131.3 million
10	Eliot Rose Wealth Management, LLC	Providence	21.9%	$152.8 million

Top 100 in Rhode Island

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

Fastest-growing wealth firms over three years, including broker-dealer firms 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	Brown, Lisle/Cummings, 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.	Providence	26.8%	$238.8 million
5	McGuire Wealth Management	Wakefield	23.9%	$558.2 million
6	Wealthcare Investment Partners LLC	Portsmouth	23.4%	$457.7 million
7	Citizens Securities, 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.	Johnston	22.7%	$7.0 billion
8	The Retirement Planning Company of New England, Inc.	Warwick	20.0%	$228.2 million
9	Barrett & Company 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.	Providence	19.6%	$309.4 million
10	SK Wealth Management, LLC	Providence	19.2%	$377.2 million

Top 100 in Rhode Island

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

Fastest-growing wealth firms over five years, including broker-dealer firms in Rhode Island, top 10
Rank	Firm	City	Growth	Starting value
1	Axis Wealth Partners, LLC	East Providence	25.2%	$122.9 million
2	Brown, Lisle/Cummings, 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.	Providence	22.0%	$180.4 million
3	Mystic Asset Management	Warwick	18.2%	$266.8 million
4	Wealthcare Investment Partners LLC	Portsmouth	17.0%	$391.6 million
5	Blue Fin Capital, Inc.	Warren	16.4%	$353.9 million
6	McGuire Wealth Management	Wakefield	15.2%	$523.0 million
7	Citizens Securities, 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.	Johnston	14.4%	$6.6 billion
8	Barrett & Company 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.	Providence	14.1%	$273.7 million
9	The Retirement Planning Company of New England, Inc.	Warwick	13.4%	$210.6 million
10	Eliot Rose Wealth Management, LLC	Providence	13.0%	$101.3 million

Top 100 in Rhode Island

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 Rhode Island, top 10
Rank	Firm	City	Increase
1	Citizens Securities, 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.	Johnston	$3.7 billion
2	Parsons Capital Management Inc	Providence	$289.5 million
3	McGuire Wealth Management	Wakefield	$242.0 million
4	Young Richard C & Co Ltd	Newport	$238.5 million
5	Wealthcare Investment Partners LLC	Portsmouth	$204.8 million
6	Canton Hathaway LLC	Providence	$193.4 million
7	Professional Planning Group	Westerly	$150.0 million
8	Capital Wealth Management, LLC	West Warwick	$136.1 million
9	Strategicpoint Investment Advisors LLC	Providence	$108.4 million
10	Blue Fin Capital, Inc.	Warren	$105.3 million

Top 100 in Rhode Island

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

Wealth firms with the most clients, including broker-dealer firms in Rhode Island, top 10
Rank	Firm	City	Most clients
1	Citizens Securities, 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.	Johnston	121,090
2	Wealthcare Investment Partners LLC	Portsmouth	1,853
3	Professional Planning Group	Westerly	1,292
4	Forbes Financial Planning, Inc.	East Greenwich	898
5	Young Richard C & Co Ltd	Newport	813
6	Axis Wealth Partners, LLC	East Providence	801
7	Parsons Capital Management Inc	Providence	780
8	Strategicpoint Investment Advisors LLC	Providence	714
9	Blue Fin Capital, Inc.	Warren	683
10	Capital Wealth Management, LLC	West Warwick	655

Top 100 in Rhode Island

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 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	Citizens Securities, 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.	Johnston	14.1%	106,088
4	Newman Dignan & Sheerar, Inc	Providence	13.8%	471
5	Mystic Asset Management	Warwick	13.4%	127
6	Signet Investment Advisory Group, Inc.	Providence	12.5%	176
7	Axis Wealth Partners, LLC	East Providence	12.2%	714
8	Sowa Financial Group	Lincoln	8.7%	531
9	Wealthcare Investment Partners LLC	Portsmouth	6.4%	1,741
10	Financial Independence, LLC	Warwick	6.3%	270

Top 100 in Rhode Island

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

Wealth firms with the most accounts, including broker-dealer firms in Rhode Island, top 10
Rank	Firm	City	Most accounts
1	Citizens Securities, 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.	Johnston	60,545
2	Wealthcare Investment Partners LLC	Portsmouth	3,208
3	Professional Planning Group	Westerly	2,395
4	Young Richard C & Co Ltd	Newport	2,042
5	Parsons Capital Management Inc	Providence	1,942
6	Strategicpoint Investment Advisors LLC	Providence	1,934
7	Axis Wealth Partners, LLC	East Providence	1,686
8	Wealth Management Resources, Inc.	Smithfield	1,508
9	Sowa Financial Group	Lincoln	1,400
10	The Retirement Planning Company of New England, Inc.	Warwick	1,312

Top 100 in Rhode Island

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

Wealth firms with the most advisory staff, including broker-dealer firms in Rhode Island, top 10
Rank	Firm	City	Most advisory staff
1	Citizens Securities, 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.	Johnston	454
2	Parsons Capital Management Inc	Providence	12
3	Professional Planning Group	Westerly	9
3	Capital Wealth Management, LLC	West Warwick	9
5	Brown, Lisle/Cummings, 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.	Providence	8
5	Young Richard C & Co Ltd	Newport	8
7	First Financial Advisory Services Inc	Westerly	7
8	Wealth Management Resources, Inc.	Smithfield	6
8	Newman Dignan & Sheerar, Inc	Providence	6
8	Strategicpoint Investment Advisors LLC	Providence	6

Top 100 in Rhode Island

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 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

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

Wealth firms with the most CFP professionals, including broker-dealer firms in Rhode Island, top 10
Rank	Firm	City	Most CFP professionals
1	Citizens Securities, 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.	Johnston	82
2	SK Wealth Management, LLC	Providence	5
3	Wealth Management Resources, Inc.	Smithfield	3
3	Parsons Capital Management Inc	Providence	3
3	Newman Dignan & Sheerar, Inc	Providence	3
3	Sowa Financial Group	Lincoln	3
3	Capital Wealth Management, LLC	West Warwick	3
8	Brown, Lisle/Cummings, 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.	Providence	2
8	Professional Planning Group	Westerly	2
8	Lincoln Capital Corporation	East Greenwich	2

Top 100 in Rhode Island

Newest wealth firms, including broker-dealer firms

Newest wealth firms, including broker-dealer firms 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 wealth firms based in Rhode Island, 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	36
October 1, 2019	35
October 1, 2020	37
October 4, 2021	42
October 3, 2022	43
October 5, 2023	41
October 1, 2024	39
September 2, 2025	40
October 2, 2026	41

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	$13.3 billion
October 1, 2019	$13.0 billion
October 1, 2020	$15.7 billion
October 4, 2021	$23.8 billion
October 3, 2022	$27.8 billion
October 5, 2023	$23.8 billion
October 1, 2024	$24.5 billion
September 2, 2025	$28.1 billion
October 2, 2026	$33.6 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	24,458
October 1, 2019	25,602
October 1, 2020	27,874
October 4, 2021	71,322
October 3, 2022	78,111
October 5, 2023	81,947
October 1, 2024	80,193
September 2, 2025	88,380
October 2, 2026	98,569

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	$240.2 million
October 1, 2019	$237.9 million
October 1, 2020	$283.2 million
October 4, 2021	$290.2 million
October 3, 2022	$344.6 million
October 5, 2023	$287.8 million
October 1, 2024	$339.3 million
September 2, 2025	$357.0 million
October 2, 2026	$385.2 million

The market in Rhode Island now

Headline figures

Headline figures, as of October 2, 2026
Measure	All wealth firms	SEC-registered	State-registered
Firms	78	41	37
Regulatory assets under management	$34.7 billion	$33.6 billion	$1.1 billion
Accounts	102,259	98,569	3,690
Clients	142,016	139,265	2,751
Employees	811	746	65
Advisory employees	665	614	51
Investment adviser representatives	1,008	957	51
Median RAUM	$130.3 million	$385.2 million	$22.5 million
Average RAUM	$476.0 million	$819.7 million	$35.7 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	31	0	31
RAUM of firms under $100 million	$1.0 billion	$0	$1.0 billion
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	12	12	0
RAUM of firms $250 million to $500 million	$4.4 billion	$4.4 billion	$0
Firms $500 million to $1 billion	9	9	0
RAUM of firms $500 million to $1 billion	$6.4 billion	$6.4 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	1	1	0
RAUM of firms $10 billion and up	$12.9 billion	$12.9 billion	$0

Concentration

How much of the market the largest advisers hold.

Concentration, as of October 2, 2026
Measure	All wealth firms	SEC-registered	State-registered
Top 10 share of RAUM	69.0%	71.3%	66.8%

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		94.9%
Charge hourly fees		56.4%
Charge subscription fees		0.0%
Charge fixed fees		62.8%
Receive commissions		6.4%
Charge performance-based fees		1.3%
Other compensation		9.0%

How advisers are paid, as of October 2, 2026
Measure	All wealth firms	SEC-registered	State-registered
Charge a percentage of assets	94.9%	97.6%	91.9%
Charge hourly fees	56.4%	58.5%	54.1%
Charge subscription fees	0.0%	0.0%	0.0%
Charge fixed fees	62.8%	70.7%	54.1%
Receive commissions	6.4%	9.8%	2.7%
Charge performance-based fees	1.3%	2.4%	0.0%
Other compensation	9.0%	9.8%	8.1%

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	29.5%	41.5%	16.2%

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	5.1%	7.3%	2.7%

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	9	6	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	73	41	32
Discretionary RAUM	$20.4 billion	$19.3 billion	$1.1 billion
CFP professionals	142	125	17
25th percentile RAUM	$37.0 million	$197.8 million	$11.0 million
75th percentile RAUM	$394.4 million	$731.3 million	$61.5 million
90th percentile RAUM	$864.8 million	$1.1 billion	$71.0 million
Average account size	$339,818	$340,950	$309,573
Offer financial planning	80.8%	85.4%	75.7%
RAUM growth, one year	No data	19.7%	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.