IAR CE deadline: December 31. 84 days left in adopting states. Check what you owe

For asset managers
AdvisorIQ

State market data

Independent RIAs in Virginia

As of October 2, 2026, 640 independent wealth management RIAs based in Virginia reported $159.8 billion in regulatory assets under management; the largest by assets was Cary Street Partners, with $10.3 billion.

Include wirehouses and broker-dealer firms

Independent wealth management RIAs
640
SEC-registered
215
State-registered
425
Regulatory assets under management
$159.8 billion
Client accounts
280,413
Median firm size
$60.2 million
Broker-dealer affiliated firms, not included
19, with $44.9 billion

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

Top firms in Virginia

Largest independent RIAs by assets under management

Rank Firm City RAUM
1 Cary Street Partners Richmond $10.3 billion
2 Brown Advisory Norfolk $7.6 billion
3 Cassaday & Company, Inc. McLean $7.1 billion
4 Andersen McLean $6.3 billion
5 Evanson Financial, LLC DBA Evanson Asset Management McLean $5.8 billion
6 Heritage Wealth Advisors Richmond $4.9 billion
7 The Ascent Group, LLC Virginia Beach $4.8 billion
8 Wealthcare Capital Management LLC Richmond $3.9 billion
9 The Burney Company Reston $3.6 billion
10 Bogart Wealth, LLC McLean $3.2 billion

Top 100 in Virginia

Fastest-growing independent RIAs over one year

Rank Firm City Growth Starting value
1 Legacy Wealth Management Inc. Manassas 77.0% $177.3 million
2 Abich Financial Wealth Management, LLC Ashburn 73.4% $227.6 million
3 The Lewis Financial Group Ashburn 53.7% $313.9 million
4 Decisionmap Wealth Management, LLC Great Falls 49.8% $242.5 million
5 Brown Edwards Wealth Strategies Lynchburg 48.2% $272.2 million
6 Cobblestone Asset Management Richmond 43.2% $180.8 million
7 Monument Wealth Management Alexandria 39.4% $465.1 million
8 Covenant Wealth Advisors Richmond 39.3% $653.0 million
9 Buttonwood Wealth Winchester 38.6% $306.9 million
10 Colonial River Wealth Management LLC Midlothian 36.6% $339.8 million

Top 100 in Virginia

Fastest-growing independent RIAs over three years

Rank Firm City Growth Starting value
1 Abich Financial Wealth Management, LLC Ashburn 57.9% $100.3 million
2 Covenant Wealth Advisors Richmond 49.6% $271.7 million
3 Legacy Wealth Management Inc. Manassas 44.2% $104.6 million
4 Martin Wealth Solutions Christiansburg 41.8% $132.3 million
5 Dover Advisors, LLC Richmond 34.3% $155.1 million
6 Integrated Financial Solutions, Inc. Reston 33.0% $129.0 million
7 The Main Street Group Glen Allen 32.0% $224.1 million
8 3CHOPT Investment Partners LLC Richmond 30.0% $404.8 million
9 Capitol Private Wealth Group LLC Vienna 30.0% $256.0 million
10 United Wealth Management, LLC Charlottesville 28.2% $193.1 million

Top 100 in Virginia

Fastest-growing independent RIAs over five years

Rank Firm City Growth Starting value
1 Covenant Wealth Advisors Richmond 31.8% $229.0 million
2 Reframe Wealth, LLC Fairfax 30.1% $106.0 million
3 Cary Street Partners Richmond 25.8% $3.3 billion
4 Legacy Wealth Management Inc. Manassas 22.9% $112.1 million
5 Olio Financial Planning McLean 22.2% $219.9 million
6 Capitol Private Wealth Group LLC Vienna 21.4% $213.3 million
7 Concord Wealth Partners Abingdon 20.3% $423.9 million
8 The Main Street Group Glen Allen 20.0% $206.7 million
9 United Wealth Management, LLC Charlottesville 19.8% $165.0 million
10 Andersen McLean 19.6% $2.6 billion

Top 100 in Virginia

Independent RIAs with the biggest asset gains over one year

Rank Firm City Increase
1 Cary Street Partners Richmond $2.0 billion
2 Range Advisory, LLC McLean $1.2 billion
3 Cassaday & Company, Inc. McLean $1.2 billion
4 Wealthcare Capital Management LLC Richmond $897.8 million
5 Juno Financial Group LLC Richmond $541.9 million
6 Bogart Wealth, LLC McLean $510.6 million
7 Z3 Capital Partners Richmond $466.8 million
8 The Burney Company Reston $451.7 million
9 Glassman Wealth Services, LLC Vienna $362.5 million
10 Wealthcrossing Richmond $334.5 million

Top 100 in Virginia

Independent RIAs with the most clients

Rank Firm City Most clients
1 Cary Street Partners Richmond 6,988
2 Wealthcare Capital Management LLC Richmond 5,691
3 The Ascent Group, LLC Virginia Beach 4,298
4 Haas Investment Management LLC Newport News 4,000
5 The Burney Company Reston 3,862
6 Cassaday & Company, Inc. McLean 3,267
7 Range Advisory, LLC McLean 2,953
8 Acorn Financial Advisory Services, Inc. Reston 2,623
9 Brass Capital Leesburg 2,093
10 Colonial River Wealth Management LLC Midlothian 1,798

Top 100 in Virginia

Independent RIAs with the fastest client growth over one year

Rank Firm City Growth Starting value
1 Range Advisory, LLC McLean 110.3% 1,404
2 The Burney Company Reston 99.9% 1,932
3 Apforia Virginia Beach 74.1% 286
4 Colonial River Wealth Management LLC Midlothian 73.9% 1,034
5 The Lewis Financial Group Ashburn 46.3% 229
6 Martin Wealth Solutions Christiansburg 43.1% 626
7 Cobblestone Asset Management Richmond 39.8% 309
8 Legacy Wealth Management Inc. Manassas 37.9% 533
9 Omega Wealth Management LLC Arlington 35.9% 128
10 Glover Park Wealth Management, LLC Arlington 34.8% 141

Top 100 in Virginia

Independent RIAs with the most accounts

Rank Firm City Most accounts
1 Azzad Asset Management, Inc. Falls Church 18,098
2 Cary Street Partners Richmond 16,731
3 Wealthcare Capital Management LLC Richmond 13,598
4 The Ascent Group, LLC Virginia Beach 8,449
5 Bogart Wealth, LLC McLean 6,635
6 Range Advisory, LLC McLean 5,205
7 Acorn Financial Advisory Services, Inc. Reston 4,566
8 The Burney Company Reston 4,528
9 Evanson Financial, LLC DBA Evanson Asset Management McLean 4,304
10 Kfa Private Wealth Group, LLC Tyson 3,279

Top 100 in Virginia

Independent RIAs with the most advisory staff

Rank Firm City Most advisory staff
1 Cary Street Partners Richmond 85
2 Andersen McLean 50
3 The Burney Company Reston 42
4 Wealthcare Capital Management LLC Richmond 35
5 Cassaday & Company, Inc. McLean 32
6 Bogart Wealth, LLC McLean 29
7 The Ascent Group, LLC Virginia Beach 19
8 Heritage Wealth Advisors Richmond 18
8 Range Advisory, LLC McLean 18
10 McLean Asset Management Corp. Tysons 17

Top 100 in Virginia

Independent RIAs with the most high net worth clients

Rank Firm City Most high net worth clients
1 Cary Street Partners Richmond 2,175
2 Cassaday & Company, Inc. McLean 2,017
3 Wealthcare Capital Management LLC Richmond 1,312
4 The Burney Company Reston 904
5 The Ascent Group, LLC Virginia Beach 874
6 Evanson Financial, LLC DBA Evanson Asset Management McLean 847
7 Range Advisory, LLC McLean 806
8 Bogart Wealth, LLC McLean 722
9 Heartwood Wealth Advisors, LLC Richmond 566
10 Acorn Financial Advisory Services, Inc. Reston 551

Top 100 in Virginia

Independent RIAs with the most CFP professionals

Rank Firm City Most CFP professionals
1 Cary Street Partners Richmond 33
2 Bogart Wealth, LLC McLean 22
3 Cassaday & Company, Inc. McLean 20
4 Range Advisory, LLC McLean 19
5 Glassman Wealth Services, LLC Vienna 12
6 Andersen McLean 11
6 Yeske Buie Inc. Vienna 11
6 Evermay Wealth Management, LLC Arlington 11
9 CJM Wealth Advisers, Ltd. Falls Church 10
9 McLean Asset Management Corp. Tysons 10

Top 100 in Virginia

Newest independent RIAs

Rank Firm City Amount
1 Evanson Financial, LLC DBA Evanson Asset Management McLean $5.8 billion
2 ACTIV8 Family Office LLC McLean $1.5 billion
3 Bellars Harris Wealth Management Virginia Beach $505.4 million
4 Steelhead Wealth Management Glen Allen $341.9 million
5 Mwa Investments, LLC White Stone $250.4 million
6 Rechter Wealth Management, LLC Clifton $133.5 million
7 Patina Wealth Crozet $129.2 million
8 Fitzwilliams Wealth Management Inc. Chesapeake $123.5 million
9 Pegasus Financial Group LLC Chantilly $122.3 million
10 Gira & Gira Investment Advisors LLC Harrisonburg $121.4 million

Top 100 in Virginia

Over time

From the SEC's yearly files: SEC-registered independent RIAs based in Virginia, 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.
0100200300201820202021202320242026215October 1, 2018: 141October 1, 2019: 153October 1, 2020: 158October 4, 2021: 168October 3, 2022: 172October 5, 2023: 163October 1, 2024: 171September 2, 2025: 187October 2, 2026: 215
Data table
As ofFirms
October 1, 2018141
October 1, 2019153
October 1, 2020158
October 4, 2021168
October 3, 2022172
October 5, 2023163
October 1, 2024171
September 2, 2025187
October 2, 2026215
Regulatory assets under managementSEC-registered independent RIAs. 9 snapshots, October 1, 2018 to October 2, 2026.
$0$50B$100B$150B201820202021202320242026$149BOctober 1, 2018: $68.3 billionOctober 1, 2019: $71.9 billionOctober 1, 2020: $95.8 billionOctober 4, 2021: $97.2 billionOctober 3, 2022: $108.8 billionOctober 5, 2023: $94.6 billionOctober 1, 2024: $104.8 billionSeptember 2, 2025: $125.3 billionOctober 2, 2026: $148.7 billion
Data table
As ofRegulatory assets under management
October 1, 2018$68.3 billion
October 1, 2019$71.9 billion
October 1, 2020$95.8 billion
October 4, 2021$97.2 billion
October 3, 2022$108.8 billion
October 5, 2023$94.6 billion
October 1, 2024$104.8 billion
September 2, 2025$125.3 billion
October 2, 2026$148.7 billion
Client accountsSEC-registered independent RIAs. 9 snapshots, October 1, 2018 to October 2, 2026.
0100K200K300K201820202021202320242026248KOctober 1, 2018: 131,139October 1, 2019: 158,126October 1, 2020: 167,004October 4, 2021: 175,418October 3, 2022: 188,223October 5, 2023: 189,562October 1, 2024: 191,988September 2, 2025: 216,941October 2, 2026: 247,699
Data table
As ofClient accounts
October 1, 2018131,139
October 1, 2019158,126
October 1, 2020167,004
October 4, 2021175,418
October 3, 2022188,223
October 5, 2023189,562
October 1, 2024191,988
September 2, 2025216,941
October 2, 2026247,699
Median firm size (RAUM)SEC-registered independent RIAs. 9 snapshots, October 1, 2018 to October 2, 2026.
$0$100M$200M$300M$400M201820202021202320242026$347MOctober 1, 2018: $242.7 millionOctober 1, 2019: $238.0 millionOctober 1, 2020: $282.4 millionOctober 4, 2021: $273.5 millionOctober 3, 2022: $297.7 millionOctober 5, 2023: $279.8 millionOctober 1, 2024: $304.3 millionSeptember 2, 2025: $313.9 millionOctober 2, 2026: $347.1 million
Data table
As ofMedian firm size (RAUM)
October 1, 2018$242.7 million
October 1, 2019$238.0 million
October 1, 2020$282.4 million
October 4, 2021$273.5 million
October 3, 2022$297.7 million
October 5, 2023$279.8 million
October 1, 2024$304.3 million
September 2, 2025$313.9 million
October 2, 2026$347.1 million

The market in Virginia now

Headline figures

MeasureIndependent RIAsSEC-registeredState-registered
Firms640215425
Regulatory assets under management$159.8 billion$148.7 billion$11.1 billion
Accounts280,413247,69932,714
Clients120,25992,91727,342
Employees4,6804,051629
Advisory employees1,7941,249545
Investment adviser representatives1,8411,279562
Median RAUM$60.2 million$347.1 million$24.3 million
Average RAUM$295.9 million$714.9 million$33.4 million

Firms by size

Advisers grouped by regulatory assets under management.

MeasureIndependent RIAsSEC-registeredState-registered
Firms under $100 million3318323
RAUM of firms under $100 million$10.4 billion$224.3 million$10.2 billion
Firms $100 million to $250 million78699
RAUM of firms $100 million to $250 million$11.8 billion$10.8 billion$944.4 million
Firms $250 million to $500 million64640
RAUM of firms $250 million to $500 million$23.0 billion$23.0 billion$0
Firms $500 million to $1 billion34340
RAUM of firms $500 million to $1 billion$24.3 billion$24.3 billion$0
Firms $1 billion to $5 billion28280
RAUM of firms $1 billion to $5 billion$53.2 billion$53.2 billion$0
Firms $5 billion to $10 billion440
RAUM of firms $5 billion to $10 billion$26.9 billion$26.9 billion$0
Firms $10 billion and up110
RAUM of firms $10 billion and up$10.3 billion$10.3 billion$0

Concentration

How much of the market the largest advisers hold.

Concentration: independent RIAsAs of October 2, 2026.
Top 10 share of RAUM 36.0%
Top 100 share of RAUM 80.3%
MeasureIndependent RIAsSEC-registeredState-registered
Top 10 share of RAUM36.0%38.7%9.4%
Top 100 share of RAUM80.3%86.3%65.9%

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.
Charge a percentage of assets 88.3%
Charge hourly fees 57.5%
Charge subscription fees 1.4%
Charge fixed fees 65.9%
Receive commissions 1.7%
Charge performance-based fees 5.6%
Other compensation 10.2%
MeasureIndependent RIAsSEC-registeredState-registered
Charge a percentage of assets88.3%94.9%84.9%
Charge hourly fees57.5%55.8%58.4%
Charge subscription fees1.4%0.5%1.9%
Charge fixed fees65.9%72.6%62.6%
Receive commissions1.7%2.8%1.2%
Charge performance-based fees5.6%4.2%6.4%
Other compensation10.2%10.2%10.1%

Custody

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

MeasureIndependent RIAsSEC-registeredState-registered
Have custody22.5%53.0%7.1%

Broker-dealer and other affiliations

From Form ADV Items 6 and 7.

MeasureIndependent RIAsSEC-registeredState-registered
Broker-dealer affiliated1.6%3.7%0.5%

New firms and successions

New registrations and firms reporting that they succeeded to another adviser's business (Form ADV Item 4).

MeasureIndependent RIAsSEC-registeredState-registered
New registrations722943
SuccessionsNo data1No data

Other measures

MeasureIndependent RIAsSEC-registeredState-registered
Firms reporting RAUM540208332
Discretionary RAUM$148.1 billion$138.3 billion$9.8 billion
CFP professionals697525172
25th percentile RAUM$16.3 million$166.3 million$7.5 million
75th percentile RAUM$229.4 million$677.8 million$55.7 million
90th percentile RAUM$629.7 million$1.4 billion$80.5 million
Average account size$569,869$600,307$339,406
Offer financial planning81.7%91.2%76.9%
RAUM growth, one yearNo data18.7%No data

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

Cities

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.