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 West Virginia

As of October 2, 2026, 31 independent wealth management RIAs based in West Virginia reported $6.4 billion in regulatory assets under management; the largest by assets was McKinley Carter Wealth Services, Inc., with $2.3 billion.

Include wirehouses and broker-dealer firms

Independent wealth management RIAs
31
SEC-registered
8
State-registered
23
Regulatory assets under management
$6.4 billion
Client accounts
15,257
Median firm size
$29.5 million
Broker-dealer affiliated firms, not included
2, with $1.8 billion

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

Top firms in West Virginia

Largest independent RIAs by assets under management

Rank Firm City RAUM
1 McKinley Carter Wealth Services, Inc. Wheeling $2.3 billion
2 NTV Asset Management, LLC Charleston $1.2 billion
3 Commonwealth Financial Services Vienna $994.7 million
4 Hoxton Planning & Management, LLC Shepherdstown $591.5 million
5 Fort Henry Capital, LLC Wheeling $278.5 million
6 Vandalia Wealth Charleston $249.6 million
7 Ironwood Wealth Management, Inc. Hurricane $233.1 million
8 Huffman & Ross Wealth Management LLC Morgantown $210.0 million
9 Anthony Investment Management, LLC Wheeling $73.5 million
10 Rohr Capital Management Parkersburg $64.1 million

Top 100 in West Virginia

Fastest-growing independent RIAs over one year

Rank Firm City Growth Starting value
1 Huffman & Ross Wealth Management LLC Morgantown 62.5% $129.2 million
2 Commonwealth Financial Services Vienna 28.4% $774.8 million
3 Hoxton Planning & Management, LLC Shepherdstown 20.3% $491.6 million
4 NTV Asset Management, LLC Charleston 20.3% $963.4 million
5 Fort Henry Capital, LLC Wheeling 15.9% $240.3 million
6 Ironwood Wealth Management, Inc. Hurricane 9.5% $212.8 million
7 McKinley Carter Wealth Services, Inc. Wheeling -8.9% $2.5 billion

Top 100 in West Virginia

Fastest-growing independent RIAs over three years

Rank Firm City Growth Starting value
1 Hoxton Planning & Management, LLC Shepherdstown 24.5% $306.9 million
2 Commonwealth Financial Services Vienna 23.1% $533.2 million
3 NTV Asset Management, LLC Charleston 19.6% $678.3 million
4 Fort Henry Capital, LLC Wheeling 12.7% $194.7 million
5 Ironwood Wealth Management, Inc. Hurricane 7.1% $189.7 million
6 McKinley Carter Wealth Services, Inc. Wheeling 6.6% $1.9 billion

Top 100 in West Virginia

Fastest-growing independent RIAs over five years

Rank Firm City Growth Starting value
1 NTV Asset Management, LLC Charleston 12.4% $646.9 million
2 Fort Henry Capital, LLC Wheeling 8.6% $184.3 million
3 McKinley Carter Wealth Services, Inc. Wheeling 4.9% $1.8 billion
4 Ironwood Wealth Management, Inc. Hurricane 3.6% $195.0 million

Top 100 in West Virginia

Independent RIAs with the biggest asset gains over one year

Rank Firm City Increase
1 Commonwealth Financial Services Vienna $220.0 million
2 NTV Asset Management, LLC Charleston $195.8 million
3 Hoxton Planning & Management, LLC Shepherdstown $100.0 million
4 Huffman & Ross Wealth Management LLC Morgantown $80.8 million
5 Fort Henry Capital, LLC Wheeling $38.2 million
6 Ironwood Wealth Management, Inc. Hurricane $20.3 million

Top 100 in West Virginia

Independent RIAs with the most clients

Rank Firm City Most clients
1 Commonwealth Financial Services Vienna 2,272
2 McKinley Carter Wealth Services, Inc. Wheeling 1,290
3 Fort Henry Capital, LLC Wheeling 476
4 Vandalia Wealth Charleston 469
5 Huffman & Ross Wealth Management LLC Morgantown 414
6 Hoxton Planning & Management, LLC Shepherdstown 395
7 NTV Asset Management, LLC Charleston 377
8 Rohr Capital Management Parkersburg 366
9 Ironwood Wealth Management, Inc. Hurricane 276
10 Blackbear Capital, LLC Ripley 178

Top 100 in West Virginia

Independent RIAs with the fastest client growth over one year

Rank Firm City Growth Starting value
1 Huffman & Ross Wealth Management LLC Morgantown 49.5% 277
2 NTV Asset Management, LLC Charleston 8.3% 348
3 Hoxton Planning & Management, LLC Shepherdstown 6.8% 370
4 Commonwealth Financial Services Vienna 6.2% 2,140
5 Fort Henry Capital, LLC Wheeling 5.1% 453
6 Ironwood Wealth Management, Inc. Hurricane -0.7% 278
7 McKinley Carter Wealth Services, Inc. Wheeling -31.1% 1,871

Top 100 in West Virginia

Independent RIAs with the most accounts

Rank Firm City Most accounts
1 Commonwealth Financial Services Vienna 5,003
2 McKinley Carter Wealth Services, Inc. Wheeling 3,994
3 Hoxton Planning & Management, LLC Shepherdstown 1,377
4 NTV Asset Management, LLC Charleston 1,013
5 Ironwood Wealth Management, Inc. Hurricane 676
6 Huffman & Ross Wealth Management LLC Morgantown 655
7 Rohr Capital Management Parkersburg 511
8 Fort Henry Capital, LLC Wheeling 476
9 Vandalia Wealth Charleston 469
10 Anthony Investment Management, LLC Wheeling 224

Top 100 in West Virginia

Independent RIAs with the most advisory staff

Rank Firm City Most advisory staff
1 McKinley Carter Wealth Services, Inc. Wheeling 27
2 Vandalia Wealth Charleston 15
3 Commonwealth Financial Services Vienna 13
4 NTV Asset Management, LLC Charleston 5
5 Hoxton Planning & Management, LLC Shepherdstown 4
6 Ironwood Wealth Management, Inc. Hurricane 3
6 Freedom Financial Advisors, LLC South Charleston 3
8 4 Seasons Advisors Princeton 2
8 Fort Henry Capital, LLC Wheeling 2
8 Rohr Capital Management Parkersburg 2

Top 100 in West Virginia

Independent RIAs with the most high net worth clients

Rank Firm City Most high net worth clients
1 McKinley Carter Wealth Services, Inc. Wheeling 659
2 Commonwealth Financial Services Vienna 226
3 Huffman & Ross Wealth Management LLC Morgantown 204
4 Hoxton Planning & Management, LLC Shepherdstown 172
5 NTV Asset Management, LLC Charleston 97
6 Fort Henry Capital, LLC Wheeling 86
7 Ironwood Wealth Management, Inc. Hurricane 79
8 Vandalia Wealth Charleston 25
9 Blackwater Financial Fairmont 23
10 Anthony Investment Management, LLC Wheeling 18

Top 100 in West Virginia

Independent RIAs with the most CFP professionals

Rank Firm City Most CFP professionals
1 McKinley Carter Wealth Services, Inc. Wheeling 12
2 Commonwealth Financial Services Vienna 7
3 Vandalia Wealth Charleston 4
4 Hoxton Planning & Management, LLC Shepherdstown 3
5 Fort Henry Capital, LLC Wheeling 2
6 Mission: Advice Shepherdstown 1
6 Retirement Planning Consultants Inc South Charleston 1
6 Blackwater Financial Fairmont 1

Top 100 in West Virginia

Newest independent RIAs

Rank Firm City Amount
1 Vandalia Wealth Charleston $249.6 million
2 Jondaknows Financial Group, Inc. Huntinton $1.3 million
3 Legacy Financial Moorefield $0
3 Felton Wealth, LLC Wheeling $0

Top 100 in West Virginia

Over time

From the SEC's yearly files: SEC-registered independent RIAs based in West 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.
024682018202020212023202420268October 1, 2018: 6October 1, 2019: 5October 1, 2020: 5October 4, 2021: 5October 3, 2022: 6October 5, 2023: 7October 1, 2024: 7September 2, 2025: 8October 2, 2026: 8
Data table
As ofFirms
October 1, 20186
October 1, 20195
October 1, 20205
October 4, 20215
October 3, 20226
October 5, 20237
October 1, 20247
September 2, 20258
October 2, 20268
Regulatory assets under managementSEC-registered independent RIAs. 9 snapshots, October 1, 2018 to October 2, 2026.
$0$2B$4B$6B$8B201820202021202320242026$6BOctober 1, 2018: $2.8 billionOctober 1, 2019: $2.3 billionOctober 1, 2020: $2.8 billionOctober 4, 2021: $3.5 billionOctober 3, 2022: $4.3 billionOctober 5, 2023: $4.5 billionOctober 1, 2024: $5.2 billionSeptember 2, 2025: $6.1 billionOctober 2, 2026: $6.0 billion
Data table
As ofRegulatory assets under management
October 1, 2018$2.8 billion
October 1, 2019$2.3 billion
October 1, 2020$2.8 billion
October 4, 2021$3.5 billion
October 3, 2022$4.3 billion
October 5, 2023$4.5 billion
October 1, 2024$5.2 billion
September 2, 2025$6.1 billion
October 2, 2026$6.0 billion
Client accountsSEC-registered independent RIAs. 9 snapshots, October 1, 2018 to October 2, 2026.
05,00010K15K20K20182020202120232024202613.7KOctober 1, 2018: 6,371October 1, 2019: 4,722October 1, 2020: 5,966October 4, 2021: 8,083October 3, 2022: 9,550October 5, 2023: 13,885October 1, 2024: 12,376September 2, 2025: 15,827October 2, 2026: 13,663
Data table
As ofClient accounts
October 1, 20186,371
October 1, 20194,722
October 1, 20205,966
October 4, 20218,083
October 3, 20229,550
October 5, 202313,885
October 1, 202412,376
September 2, 202515,827
October 2, 202613,663
Median firm size (RAUM)SEC-registered independent RIAs. 9 snapshots, October 1, 2018 to October 2, 2026.
$0$200M$400M$600M$800M201820202021202320242026$435MOctober 1, 2018: $423.4 millionOctober 1, 2019: $469.3 millionOctober 1, 2020: $570.9 millionOctober 4, 2021: $633.3 millionOctober 3, 2022: $504.8 millionOctober 5, 2023: $533.2 millionOctober 1, 2024: $649.5 millionSeptember 2, 2025: $631.3 millionOctober 2, 2026: $435.0 million
Data table
As ofMedian firm size (RAUM)
October 1, 2018$423.4 million
October 1, 2019$469.3 million
October 1, 2020$570.9 million
October 4, 2021$633.3 million
October 3, 2022$504.8 million
October 5, 2023$533.2 million
October 1, 2024$649.5 million
September 2, 2025$631.3 million
October 2, 2026$435.0 million

The market in West Virginia now

Headline figures

MeasureIndependent RIAsSEC-registeredState-registered
Firms31823
Regulatory assets under management$6.4 billion$6.0 billion$334.1 million
Accounts15,25713,6631,594
Clients7,1545,9691,185
Employees12910029
Advisory employees987127
Investment adviser representatives1057332
Median RAUM$29.5 million$435.0 million$8.0 million
Average RAUM$244.5 million$752.9 million$18.6 million

Firms by size

Advisers grouped by regulatory assets under management.

MeasureIndependent RIAsSEC-registeredState-registered
Firms under $100 million18018
RAUM of firms under $100 million$334.1 million$0$334.1 million
Firms $100 million to $250 million330
RAUM of firms $100 million to $250 million$692.7 million$692.7 million$0
Firms $250 million to $500 million110
RAUM of firms $250 million to $500 million$278.5 million$278.5 million$0
Firms $500 million to $1 billion220
RAUM of firms $500 million to $1 billion$1.6 billion$1.6 billion$0
Firms $1 billion to $5 billion220
RAUM of firms $1 billion to $5 billion$3.5 billion$3.5 billion$0
Firms $5 billion to $10 billion000
RAUM of firms $5 billion to $10 billion$0$0$0
Firms $10 billion and up000
RAUM of firms $10 billion and up$0$0$0

Concentration

How much of the market the largest advisers hold.

MeasureIndependent RIAsState-registered
Top 10 share of RAUM96.9%97.8%

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: independent RIAsAs of October 2, 2026.
Charge a percentage of assets 96.8%
Charge hourly fees 58.1%
Charge subscription fees 0.0%
Charge fixed fees 67.7%
Receive commissions 6.5%
Charge performance-based fees 3.2%
Other compensation 0.0%
MeasureIndependent RIAsSEC-registeredState-registered
Charge a percentage of assets96.8%100.0%95.7%
Charge hourly fees58.1%75.0%52.2%
Charge subscription fees0.0%0.0%0.0%
Charge fixed fees67.7%100.0%56.5%
Receive commissions6.5%0.0%8.7%
Charge performance-based fees3.2%0.0%4.3%
Other compensation0.0%0.0%0.0%

Custody

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

MeasureIndependent RIAsSEC-registeredState-registered
Have custody16.1%50.0%4.3%

Broker-dealer and other affiliations

From Form ADV Items 6 and 7.

MeasureIndependent RIAsSEC-registeredState-registered
Broker-dealer affiliated0.0%0.0%0.0%

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 registrations413
SuccessionsNo data0No data

Other measures

MeasureIndependent RIAsSEC-registeredState-registered
Firms reporting RAUM26818
Discretionary RAUM$5.9 billion$5.7 billion$289.4 million
CFP professionals31283
25th percentile RAUM$1.7 million$245.5 million$822,591
75th percentile RAUM$227.3 million$1.0 billion$30.8 million
90th percentile RAUM$793.1 million$1.5 billion$51.8 million
Average account size$416,661$440,821$209,574
Offer financial planning93.5%100.0%91.3%
RAUM growth, one yearNo data-1.5%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.