State market data

Wealth management firms in West Virginia

As of October 2, 2026, 33 wealth management firms, including broker-dealer firms, based in West Virginia reported $8.1 billion in regulatory assets under management; the largest by assets was McKinley Carter Wealth Services, Inc., with $2.3 billion.

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

Wealth management firms: 33
SEC-registered: 10
State-registered: 23
Regulatory assets under management: $8.1 billion
Client accounts: 19,046
Median firm size: $34.9 million
Of which broker-dealer affiliated: 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 wealth firms by assets under management, including broker-dealer firms

Largest wealth firms by assets under management, including broker-dealer firms in West Virginia, top 10
Rank	Firm	City	RAUM
1	McKinley Carter Wealth Services, Inc.	Wheeling	$2.3 billion
2	Security Capital Management 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.	Wheeling	$1.4 billion
3	NTV Asset Management, LLC	Charleston	$1.2 billion
4	Commonwealth Financial Services	Vienna	$994.7 million
5	Hoxton Planning & Management, LLC	Shepherdstown	$591.5 million
6	United Brokerage Services 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.	Parkersburg	$372.3 million
7	Fort Henry Capital, LLC	Wheeling	$278.5 million
8	Vandalia Wealth	Charleston	$249.6 million
9	Ironwood Wealth Management, Inc.	Hurricane	$233.1 million
10	Huffman & Ross Wealth Management LLC	Morgantown	$210.0 million

Top 100 in West Virginia

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

Fastest-growing wealth firms over one year, including broker-dealer firms in West Virginia, top 10
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	Security Capital Management 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.	Wheeling	15.9%	$1.2 billion
6	Fort Henry Capital, LLC	Wheeling	15.9%	$240.3 million
7	Ironwood Wealth Management, Inc.	Hurricane	9.5%	$212.8 million
8	United Brokerage Services 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.	Parkersburg	-4.3%	$389.1 million
9	McKinley Carter Wealth Services, Inc.	Wheeling	-8.9%	$2.5 billion

Top 100 in West Virginia

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

Fastest-growing wealth firms over three years, including broker-dealer firms in West Virginia, top 10
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	United Brokerage Services 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.	Parkersburg	17.5%	$229.4 million
5	Fort Henry Capital, LLC	Wheeling	12.7%	$194.7 million
6	Security Capital Management 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.	Wheeling	12.2%	$982.7 million
7	Ironwood Wealth Management, Inc.	Hurricane	7.1%	$189.7 million
8	McKinley Carter Wealth Services, Inc.	Wheeling	6.6%	$1.9 billion

Top 100 in West Virginia

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

Fastest-growing wealth firms over five years, including broker-dealer firms in West Virginia, top 10
Rank	Firm	City	Growth	Starting value
1	United Brokerage Services 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.	Parkersburg	12.8%	$203.4 million
2	NTV Asset Management, LLC	Charleston	12.4%	$646.9 million
3	Fort Henry Capital, LLC	Wheeling	8.6%	$184.3 million
4	Security Capital Management 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.	Wheeling	6.8%	$999.2 million
5	McKinley Carter Wealth Services, Inc.	Wheeling	4.9%	$1.8 billion
6	Ironwood Wealth Management, Inc.	Hurricane	3.6%	$195.0 million

Top 100 in West Virginia

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 West Virginia, top 10
Rank	Firm	City	Increase
1	Commonwealth Financial Services	Vienna	$220.0 million
2	NTV Asset Management, LLC	Charleston	$195.8 million
3	Security Capital Management 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.	Wheeling	$190.7 million
4	Hoxton Planning & Management, LLC	Shepherdstown	$100.0 million
5	Huffman & Ross Wealth Management LLC	Morgantown	$80.8 million
6	Fort Henry Capital, LLC	Wheeling	$38.2 million
7	Ironwood Wealth Management, Inc.	Hurricane	$20.3 million

Top 100 in West Virginia

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

Wealth firms with the most clients, including broker-dealer firms in West Virginia, top 10
Rank	Firm	City	Most clients
1	United Brokerage Services 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.	Parkersburg	2,781
2	Security Capital Management 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.	Wheeling	2,399
3	Commonwealth Financial Services	Vienna	2,272
4	McKinley Carter Wealth Services, Inc.	Wheeling	1,290
5	Fort Henry Capital, LLC	Wheeling	476
6	Vandalia Wealth	Charleston	469
7	Huffman & Ross Wealth Management LLC	Morgantown	414
8	Hoxton Planning & Management, LLC	Shepherdstown	395
9	NTV Asset Management, LLC	Charleston	377
10	Rohr Capital Management	Parkersburg	366

Top 100 in West Virginia

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 West Virginia, top 10
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	Security Capital Management 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.	Wheeling	3.7%	2,314
7	Ironwood Wealth Management, Inc.	Hurricane	-0.7%	278
8	United Brokerage Services 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.	Parkersburg	-26.7%	3,793
9	McKinley Carter Wealth Services, Inc.	Wheeling	-31.1%	1,871

Top 100 in West Virginia

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

Wealth firms with the most accounts, including broker-dealer firms in West Virginia, top 10
Rank	Firm	City	Most accounts
1	Commonwealth Financial Services	Vienna	5,003
2	McKinley Carter Wealth Services, Inc.	Wheeling	3,994
3	Security Capital Management 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.	Wheeling	2,399
4	United Brokerage Services 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.	Parkersburg	1,390
5	Hoxton Planning & Management, LLC	Shepherdstown	1,377
6	NTV Asset Management, LLC	Charleston	1,013
7	Ironwood Wealth Management, Inc.	Hurricane	676
8	Huffman & Ross Wealth Management LLC	Morgantown	655
9	Rohr Capital Management	Parkersburg	511
10	Fort Henry Capital, LLC	Wheeling	476

Top 100 in West Virginia

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

Wealth firms with the most advisory staff, including broker-dealer firms in West Virginia, top 10
Rank	Firm	City	Most advisory staff
1	United Brokerage Services 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.	Parkersburg	55
2	McKinley Carter Wealth Services, Inc.	Wheeling	27
3	Vandalia Wealth	Charleston	15
4	Security Capital Management 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.	Wheeling	14
5	Commonwealth Financial Services	Vienna	13
6	NTV Asset Management, LLC	Charleston	5
7	Hoxton Planning & Management, LLC	Shepherdstown	4
8	Ironwood Wealth Management, Inc.	Hurricane	3
8	Freedom Financial Advisors, LLC	South Charleston	3
10	4 Seasons Advisors	Princeton	2

Top 100 in West Virginia

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 West Virginia, top 10
Rank	Firm	City	Most high net worth clients
1	McKinley Carter Wealth Services, Inc.	Wheeling	659
2	Security Capital Management 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.	Wheeling	613
3	Commonwealth Financial Services	Vienna	226
4	Huffman & Ross Wealth Management LLC	Morgantown	204
5	Hoxton Planning & Management, LLC	Shepherdstown	172
6	NTV Asset Management, LLC	Charleston	97
7	Fort Henry Capital, LLC	Wheeling	86
8	Ironwood Wealth Management, Inc.	Hurricane	79
9	United Brokerage Services 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.	Parkersburg	49
10	Vandalia Wealth	Charleston	25

Top 100 in West Virginia

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

Wealth firms with the most CFP professionals, including broker-dealer firms in West Virginia, top 10
Rank	Firm	City	Most CFP professionals
1	McKinley Carter Wealth Services, Inc.	Wheeling	12
2	Commonwealth Financial Services	Vienna	7
3	United Brokerage Services 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.	Parkersburg	4
3	Vandalia Wealth	Charleston	4
5	Security Capital Management 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.	Wheeling	3
5	Hoxton Planning & Management, LLC	Shepherdstown	3
7	Fort Henry Capital, LLC	Wheeling	2
8	Mission: Advice	Shepherdstown	1
8	Retirement Planning Consultants Inc	South Charleston	1
8	Blackwater Financial	Fairmont	1

Top 100 in West Virginia

Newest wealth firms, including broker-dealer firms

Newest wealth firms, including broker-dealer firms in West Virginia, top 10
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 wealth firms based in West Virginia, 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	8
October 1, 2019	7
October 1, 2020	7
October 4, 2021	7
October 3, 2022	8
October 5, 2023	9
October 1, 2024	9
September 2, 2025	10
October 2, 2026	10

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	$3.8 billion
October 1, 2019	$3.2 billion
October 1, 2020	$3.9 billion
October 4, 2021	$4.7 billion
October 3, 2022	$5.7 billion
October 5, 2023	$5.7 billion
October 1, 2024	$6.5 billion
September 2, 2025	$7.7 billion
October 2, 2026	$7.8 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	10,005
October 1, 2019	8,066
October 1, 2020	9,553
October 4, 2021	11,828
October 3, 2022	13,561
October 5, 2023	16,951
October 1, 2024	15,457
September 2, 2025	20,030
October 2, 2026	17,452

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	$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	$481.9 million

The market in West Virginia now

Headline figures

Headline figures, as of October 2, 2026
Measure	All wealth firms	SEC-registered	State-registered
Firms	33	10	23
Regulatory assets under management	$8.1 billion	$7.8 billion	$334.1 million
Accounts	19,046	17,452	1,594
Clients	12,334	11,149	1,185
Employees	244	215	29
Advisory employees	167	140	27
Investment adviser representatives	182	150	32
Median RAUM	$34.9 million	$481.9 million	$8.0 million
Average RAUM	$289.9 million	$778.4 million	$18.6 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	18	0	18
RAUM of firms under $100 million	$334.1 million	$0	$334.1 million
Firms $100 million to $250 million	3	3	0
RAUM of firms $100 million to $250 million	$692.7 million	$692.7 million	$0
Firms $250 million to $500 million	2	2	0
RAUM of firms $250 million to $500 million	$650.8 million	$650.8 million	$0
Firms $500 million to $1 billion	2	2	0
RAUM of firms $500 million to $1 billion	$1.6 billion	$1.6 billion	$0
Firms $1 billion to $5 billion	3	3	0
RAUM of firms $1 billion to $5 billion	$4.9 billion	$4.9 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	95.9%	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: all wealth firmsAs of October 2, 2026.
Measure	Bar	Value
Charge a percentage of assets		97.0%
Charge hourly fees		54.5%
Charge subscription fees		0.0%
Charge fixed fees		63.6%
Receive commissions		6.1%
Charge performance-based fees		3.0%
Other compensation		0.0%

How advisers are paid, as of October 2, 2026
Measure	All wealth firms	SEC-registered	State-registered
Charge a percentage of assets	97.0%	100.0%	95.7%
Charge hourly fees	54.5%	60.0%	52.2%
Charge subscription fees	0.0%	0.0%	0.0%
Charge fixed fees	63.6%	80.0%	56.5%
Receive commissions	6.1%	0.0%	8.7%
Charge performance-based fees	3.0%	0.0%	4.3%
Other compensation	0.0%	0.0%	0.0%

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	18.2%	50.0%	4.3%

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	3.0%	10.0%	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	All wealth firms	SEC-registered	State-registered
New registrations	4	1	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	10	18
Discretionary RAUM	$6.7 billion	$6.4 billion	$289.4 million
CFP professionals	38	35	3
25th percentile RAUM	$2.5 million	$256.8 million	$822,591
75th percentile RAUM	$256.8 million	$1.1 billion	$30.8 million
90th percentile RAUM	$1.0 billion	$1.5 billion	$51.8 million
Average account size	$426,221	$446,008	$209,574
Offer financial planning	90.9%	90.0%	91.3%
RAUM growth, one year	No data	1.1%	No data

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

Cities

Wheeling 5 independent RIAs, $2.7 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.