# Independent RIAs in Wisconsin

As of October 2, 2026, 307 independent wealth management RIAs based in Wisconsin reported $94.0 billion in regulatory assets under management; the largest by assets was Orgel Wealth Management, LLC, with $9.5 billion.

As of: 2026-10-02
Address: https://advisoriq.com/ria/states/wisconsin/

## Facts

- state: Wisconsin
- code: WI
- population: Independent wealth management RIAs: firms whose individual and high net worth clients hold at least half of their regulatory assets and that offer financial planning or portfolio management for individuals, leaving out broker-dealers, banks and their advisory arms. Asset managers, private fund managers and pension consultants are not in the directory.
- latest: independent: accounts: 233896, firms: 307, median_raum: 99441000, raum: 94018934018, advisory_employees: 1226, avg_account: 401968.969191435, band_100m_250m: 57, band_100m_250m_raum: 9092584910, band_10b_plus: 0, band_10b_plus_raum: 0, band_1b_5b: 21, band_1b_5b_raum: 34808329613, band_250m_500m: 30, band_250m_500m_raum: 10292502230, band_500m_1b: 27, band_500m_1b_raum: 18522999778, band_5b_10b: 2, band_5b_10b_raum: 17598699873, band_lt100m: 138, band_lt100m_raum: 3703817614, bd_affiliated_share: 0.00651465798045603, cfp_professionals: 359, clients: 106410, custody_share: 0.254071661237785, employees: 1775, fee_aum_pct_share: 0.93485342019544, fee_commissions_share: 0.0260586319218241, fee_fixed_share: 0.602605863192182, fee_hourly_share: 0.511400651465798, fee_other_share: 0.0944625407166124, fee_performance_share: 0.0390879478827362, fee_subscription_share: 0.00651465798045603, financial_planning_share: 0.798045602605863, firms_with_raum: 275, iars: 1323, mean_raum: 341887032.792727, new_firms: 30, p25_raum: 15352387, p75_raum: 290431512.5, p90_raum: 839059185.2, raum_discretionary: 87780619716, top100_share: 0.907881499950405, top10_share: 0.381811313699083, independent_sec: accounts: 217381, firms: 136, median_raum: 293636953, raum: 90097741114, advisory_employees: 1005, avg_account: 414469.254967085, band_100m_250m: 55, band_100m_250m_raum: 8875209620, band_10b_plus: 0, band_10b_plus_raum: 0, band_1b_5b: 21, band_1b_5b_raum: 34808329613, band_250m_500m: 30, band_250m_500m_raum: 10292502230, band_500m_1b: 27, band_500m_1b_raum: 18522999778, band_5b_10b: 2, band_5b_10b_raum: 17598699873, band_lt100m: 0, band_lt100m_raum: 0, bd_affiliated_share: 0.0147058823529412, cfp_professionals: 299, clients: 93398, custody_share: 0.463235294117647, employees: 1508, fee_aum_pct_share: 0.992647058823529, fee_commissions_share: 0.0441176470588235, fee_fixed_share: 0.647058823529412, fee_hourly_share: 0.551470588235294, fee_other_share: 0.0735294117647059, fee_performance_share: 0.0441176470588235, fee_subscription_share: 0.00735294117647059, financial_planning_share: 0.852941176470588, firms_with_raum: 135, iars: 1105, mean_raum: 667390674.918519, new_firms: 16, p25_raum: 174583901.5, p75_raum: 676636299, p90_raum: 1388817748.4, raum_discretionary: 84326543713, raum_growth_1y: 0.181210571187589, successions: 0, top100_share: 0.947393905602995, top10_share: 0.39842833201089, state: accounts: 16515, firms: 171, median_raum: 16678926.5, raum: 3921192904, advisory_employees: 221, avg_account: 237432.207326673, band_100m_250m: 2, band_100m_250m_raum: 217375290, band_10b_plus: 0, band_10b_plus_raum: 0, band_1b_5b: 0, band_1b_5b_raum: 0, band_250m_500m: 0, band_250m_500m_raum: 0, band_500m_1b: 0, band_500m_1b_raum: 0, band_5b_10b: 0, band_5b_10b_raum: 0, band_lt100m: 138, band_lt100m_raum: 3703817614, bd_affiliated_share: 0, cfp_professionals: 60, clients: 13012, custody_share: 0.087719298245614, employees: 267, fee_aum_pct_share: 0.888888888888889, fee_commissions_share: 0.0116959064327485, fee_fixed_share: 0.567251461988304, fee_hourly_share: 0.47953216374269, fee_other_share: 0.111111111111111, fee_performance_share: 0.0350877192982456, fee_subscription_share: 0.00584795321637427, financial_planning_share: 0.754385964912281, firms_with_raum: 140, iars: 218, mean_raum: 28008520.7428571, new_firms: 14, p25_raum: 5566711.75, p75_raum: 46049879, p90_raum: 71300000, raum_discretionary: 3454076003, top100_share: 0.971252684129615, top10_share: 0.239539282559102
- broker_dealer_affiliated_not_included: firms: 19, raum: 21076072620
- series: firms: segment: independent_sec, unit: count, points: as_of: 2018-10-01, value: 101; as_of: 2019-10-01, value: 102; as_of: 2020-10-01, value: 101; as_of: 2021-10-04, value: 107; as_of: 2022-10-03, value: 114; as_of: 2023-10-05, value: 110; as_of: 2024-10-01, value: 114; as_of: 2025-09-02, value: 125; as_of: 2026-10-02, value: 136, raum: segment: independent_sec, unit: usd, points: as_of: 2018-10-01, value: 46737085824; as_of: 2019-10-01, value: 44064293875; as_of: 2020-10-01, value: 52795599245; as_of: 2021-10-04, value: 59677876622; as_of: 2022-10-03, value: 69105078924; as_of: 2023-10-05, value: 57765823805; as_of: 2024-10-01, value: 67842527882; as_of: 2025-09-02, value: 76275765991; as_of: 2026-10-02, value: 90097741114, accounts: segment: independent_sec, unit: count, points: as_of: 2018-10-01, value: 112364; as_of: 2019-10-01, value: 125831; as_of: 2020-10-01, value: 137351; as_of: 2021-10-04, value: 148496; as_of: 2022-10-03, value: 167936; as_of: 2023-10-05, value: 166573; as_of: 2024-10-01, value: 186532; as_of: 2025-09-02, value: 200370; as_of: 2026-10-02, value: 217381, median_raum: segment: independent_sec, unit: usd, points: as_of: 2018-10-01, value: 247659655; as_of: 2019-10-01, value: 227100042; as_of: 2020-10-01, value: 275580756; as_of: 2021-10-04, value: 315413332; as_of: 2022-10-03, value: 329797657; as_of: 2023-10-05, value: 303682414; as_of: 2024-10-01, value: 355179562.5; as_of: 2025-09-02, value: 349682975.5; as_of: 2026-10-02, value: 293636953
- top_10: largest: rank: 1, crd: 168219, firm: Orgel Wealth Management, LLC, city: Altoona, value: 9548675912; rank: 2, crd: 127987, firm: Annex Wealth Management, LLC, city: Brookfield, value: 8050023961; rank: 3, crd: 106489, firm: North Star Asset Management Inc, city: Neenah, value: 3351878334; rank: 4, crd: 298451, firm: Resonant Capital Advisors, LLC, city: Madison, value: 2955062146; rank: 5, crd: 322789, firm: Gateway Wealth Partners, LLC, city: Appleton, value: 2278835584; rank: 6, crd: 173851, firm: Ellenbecker Investment Group, city: Waukesha, value: 2062688555; rank: 7, crd: 287465, firm: Operose Advisors LLC, city: Milwaukee, value: 2038167082; rank: 8, crd: 107847, firm: KLCM Advisors, Inc., city: Milwaukee, value: 1876936306; rank: 9, crd: 109721, firm: Iag Wealth Partners, LLC, city: Waukesha, value: 1868964951; rank: 10, crd: 106680, firm: Diversified Management Inc, city: Milwaukee, value: 1866259879, fastest-growing: rank: 1, crd: 322789, firm: Gateway Wealth Partners, LLC, city: Appleton, value: 0.823400448614158; rank: 2, crd: 284036, firm: Atlatl Advisers, city: Madison, value: 0.708075958704782; rank: 3, crd: 145946, firm: Wisconsin Wealth Advisors, LLC, city: Sun Prairie, value: 0.558341169329656; rank: 4, crd: 111272, firm: Liberty Financial Group, Inc., city: Elm Grove, value: 0.55252222665309; rank: 5, crd: 154854, firm: Drake & Associates, LLC, city: Waukesha, value: 0.450160952689628; rank: 6, crd: 108652, firm: Endowment Wealth Management, Inc., city: Appleton, value: 0.42474863165661; rank: 7, crd: 318985, firm: Calculated Wealth, city: Madison, value: 0.410967286913861; rank: 8, crd: 160109, firm: Walkner Condon Financial Advisors LLC, city: Verona, value: 0.407144570947776; rank: 9, crd: 314365, firm: Envision Financial LLC, city: Brookfield, value: 0.400515938620093; rank: 10, crd: 333435, firm: Walleye Partners LLC, city: Madison, value: 0.3759019220899, fastest-growing-3-year: rank: 1, crd: 158965, firm: Park Capital Management, LLC, city: Madison, value: 0.4162584294678; rank: 2, crd: 305824, firm: Madison Partners, city: Madison, value: 0.413362887996396; rank: 3, crd: 170627, firm: Buska Wealth Management, LLC, city: Wausau, value: 0.404056675145456; rank: 4, crd: 314365, firm: Envision Financial LLC, city: Brookfield, value: 0.39857187502675; rank: 5, crd: 310363, firm: Rosemeyer Management Group, city: Platteville, value: 0.393073428684534; rank: 6, crd: 154854, firm: Drake & Associates, LLC, city: Waukesha, value: 0.387838666846974; rank: 7, crd: 109993, firm: Oarsman Capital, Inc, city: Milwaukee, value: 0.384225983554862; rank: 8, crd: 287465, firm: Operose Advisors LLC, city: Milwaukee, value: 0.362532267861981; rank: 9, crd: 298451, firm: Resonant Capital Advisors, LLC, city: Madison, value: 0.299876846529251; rank: 10, crd: 165516, firm: Mbe Wealth Management, LLC, city: Tomah, value: 0.29528736726512, fastest-growing-5-year: rank: 1, crd: 149830, firm: McGlone Suttner Wealth Management, Inc., city: Appleton, value: 0.470053688709322; rank: 2, crd: 287465, firm: Operose Advisors LLC, city: Milwaukee, value: 0.431587892832752; rank: 3, crd: 305824, firm: Madison Partners, city: Madison, value: 0.40853504179762; rank: 4, crd: 158965, firm: Park Capital Management, LLC, city: Madison, value: 0.375217020519734; rank: 5, crd: 310363, firm: Rosemeyer Management Group, city: Platteville, value: 0.334900064675982; rank: 6, crd: 170627, firm: Buska Wealth Management, LLC, city: Wausau, value: 0.326593089438357; rank: 7, crd: 154854, firm: Drake & Associates, LLC, city: Waukesha, value: 0.300300453406292; rank: 8, crd: 298451, firm: Resonant Capital Advisors, LLC, city: Madison, value: 0.28601359158358; rank: 9, crd: 160109, firm: Walkner Condon Financial Advisors LLC, city: Verona, value: 0.251344485854675; rank: 10, crd: 168787, firm: Kerberrose Wealth Management, LLC, city: Shawano, value: 0.245317907136238, biggest-asset-gains: rank: 1, crd: 168219, firm: Orgel Wealth Management, LLC, city: Altoona, value: 1488450478; rank: 2, crd: 127987, firm: Annex Wealth Management, LLC, city: Brookfield, value: 1104286272; rank: 3, crd: 322789, firm: Gateway Wealth Partners, LLC, city: Appleton, value: 1029063168; rank: 4, crd: 298451, firm: Resonant Capital Advisors, LLC, city: Madison, value: 738379798; rank: 5, crd: 287465, firm: Operose Advisors LLC, city: Milwaukee, value: 442024648; rank: 6, crd: 107847, firm: KLCM Advisors, Inc., city: Milwaukee, value: 414939768; rank: 7, crd: 173851, firm: Ellenbecker Investment Group, city: Waukesha, value: 331411914; rank: 8, crd: 160109, firm: Walkner Condon Financial Advisors LLC, city: Verona, value: 298362882; rank: 9, crd: 109721, firm: Iag Wealth Partners, LLC, city: Waukesha, value: 283616884; rank: 10, crd: 337398, firm: Macco Financial Group, Inc., city: Green Bay, value: 277794920, most-clients: rank: 1, crd: 322789, firm: Gateway Wealth Partners, LLC, city: Appleton, value: 7432; rank: 2, crd: 127987, firm: Annex Wealth Management, LLC, city: Brookfield, value: 6802; rank: 3, crd: 290405, firm: N.E.W. Advisory Services, LLC, city: De Pere, value: 4862; rank: 4, crd: 168219, firm: Orgel Wealth Management, LLC, city: Altoona, value: 3976; rank: 5, crd: 158292, firm: Global View Capital Management LLC, city: Waukesha, value: 3819; rank: 6, crd: 106489, firm: North Star Asset Management Inc, city: Neenah, value: 3554; rank: 7, crd: 154854, firm: Drake & Associates, LLC, city: Waukesha, value: 3401; rank: 8, crd: 165516, firm: Mbe Wealth Management, LLC, city: Tomah, value: 2598; rank: 9, crd: 109721, firm: Iag Wealth Partners, LLC, city: Waukesha, value: 2356; rank: 10, crd: 173851, firm: Ellenbecker Investment Group, city: Waukesha, value: 2316, client-growth: rank: 1, crd: 154854, firm: Drake & Associates, LLC, city: Waukesha, value: 2.44230769230769; rank: 2, crd: 322789, firm: Gateway Wealth Partners, LLC, city: Appleton, value: 0.782254196642686; rank: 3, crd: 318985, firm: Calculated Wealth, city: Madison, value: 0.779816513761468; rank: 4, crd: 144260, firm: Global Value Investment Corporation, city: Milwaukee, value: 0.352112676056338; rank: 5, crd: 160109, firm: Walkner Condon Financial Advisors LLC, city: Verona, value: 0.27373417721519; rank: 6, crd: 298165, firm: Avaii Wealth Management, LLC, city: Appleton, value: 0.241038318912237; rank: 7, crd: 108652, firm: Endowment Wealth Management, Inc., city: Appleton, value: 0.236775818639799; rank: 8, crd: 324255, firm: Cornerstone Financial Group, city: Appleton, value: 0.231914893617021; rank: 9, crd: 111272, firm: Liberty Financial Group, Inc., city: Elm Grove, value: 0.195979899497488; rank: 10, crd: 310363, firm: Rosemeyer Management Group, city: Platteville, value: 0.173038229376258, most-accounts: rank: 1, crd: 127987, firm: Annex Wealth Management, LLC, city: Brookfield, value: 22003; rank: 2, crd: 168219, firm: Orgel Wealth Management, LLC, city: Altoona, value: 10680; rank: 3, crd: 322789, firm: Gateway Wealth Partners, LLC, city: Appleton, value: 10635; rank: 4, crd: 290405, firm: N.E.W. Advisory Services, LLC, city: De Pere, value: 9375; rank: 5, crd: 158292, firm: Global View Capital Management LLC, city: Waukesha, value: 8863; rank: 6, crd: 109721, firm: Iag Wealth Partners, LLC, city: Waukesha, value: 6310; rank: 7, crd: 305824, firm: Madison Partners, city: Madison, value: 6213; rank: 8, crd: 165516, firm: Mbe Wealth Management, LLC, city: Tomah, value: 5412; rank: 9, crd: 113020, firm: Advisors Management Group Inc, city: La Crosse, value: 4960; rank: 10, crd: 323125, firm: Goldstein Advisors, LLC, city: Madison, value: 4070, most-advisory-staff: rank: 1, crd: 158292, firm: Global View Capital Management LLC, city: Waukesha, value: 107; rank: 2, crd: 322789, firm: Gateway Wealth Partners, LLC, city: Appleton, value: 83; rank: 3, crd: 127987, firm: Annex Wealth Management, LLC, city: Brookfield, value: 74; rank: 4, crd: 168219, firm: Orgel Wealth Management, LLC, city: Altoona, value: 31; rank: 5, crd: 106489, firm: North Star Asset Management Inc, city: Neenah, value: 19; rank: 6, crd: 110194, firm: Winch Financial, city: Appleton, value: 17; rank: 6, crd: 305824, firm: Madison Partners, city: Madison, value: 17; rank: 8, crd: 160109, firm: Walkner Condon Financial Advisors LLC, city: Verona, value: 16; rank: 9, crd: 109721, firm: Iag Wealth Partners, LLC, city: Waukesha, value: 15; rank: 9, crd: 112995, firm: Midwest Professional Planners, Ltd., city: Wausau, value: 15, most-hnw-clients: rank: 1, crd: 127987, firm: Annex Wealth Management, LLC, city: Brookfield, value: 2891; rank: 2, crd: 322789, firm: Gateway Wealth Partners, LLC, city: Appleton, value: 1605; rank: 3, crd: 168219, firm: Orgel Wealth Management, LLC, city: Altoona, value: 1493; rank: 4, crd: 106489, firm: North Star Asset Management Inc, city: Neenah, value: 839; rank: 5, crd: 173851, firm: Ellenbecker Investment Group, city: Waukesha, value: 684; rank: 6, crd: 154854, firm: Drake & Associates, LLC, city: Waukesha, value: 645; rank: 7, crd: 109721, firm: Iag Wealth Partners, LLC, city: Waukesha, value: 547; rank: 8, crd: 290405, firm: N.E.W. Advisory Services, LLC, city: De Pere, value: 535; rank: 9, crd: 298451, firm: Resonant Capital Advisors, LLC, city: Madison, value: 416; rank: 10, crd: 107847, firm: KLCM Advisors, Inc., city: Milwaukee, value: 397, most-cfp-professionals: rank: 1, crd: 127987, firm: Annex Wealth Management, LLC, city: Brookfield, value: 33; rank: 2, crd: 322789, firm: Gateway Wealth Partners, LLC, city: Appleton, value: 19; rank: 3, crd: 305824, firm: Madison Partners, city: Madison, value: 14; rank: 4, crd: 168219, firm: Orgel Wealth Management, LLC, city: Altoona, value: 9; rank: 5, crd: 149830, firm: McGlone Suttner Wealth Management, Inc., city: Appleton, value: 7; rank: 6, crd: 140431, firm: Jacobson & Schmitt Advisors, LLC, city: Middleton, value: 6; rank: 6, crd: 143550, firm: Broadview Financial Management, LLC, city: Wauwatosa, value: 6; rank: 6, crd: 168429, firm: Milestone Investment Advisors, LLC, city: Middleton, value: 6; rank: 6, crd: 173851, firm: Ellenbecker Investment Group, city: Waukesha, value: 6; rank: 6, crd: 326519, firm: Form Wealth Advisors, LLC, city: Lake Geneva, value: 6, newest: rank: 1, crd: 338121, firm: Sentinel Advisory Group, LLC, city: Middleton, value: 320751824; rank: 2, crd: 132024, firm: Paladin Partners, city: Hartland, value: 198517308; rank: 3, crd: 313361, firm: Fiduciary Financial Planning Network, city: Onalaska, value: 175656748; rank: 4, crd: 293172, firm: Central Wealth Management LLC, city: Madison, value: 136834321; rank: 5, crd: 109303, firm: LaSalle Investment Advisors, Inc., city: Pewaukee, value: 133609468; rank: 6, crd: 340229, firm: Coast Advisory LLC, city: East Troy, value: 122463362; rank: 7, crd: 154016, firm: Professional Financial Management, Inc., city: Appleton, value: 115520555; rank: 8, crd: 281302, firm: Leach, Bickmore & Weiss Wealth Management, LLC, city: Madison, value: 115343421; rank: 9, crd: 168325, firm: Yahara Wealth Management LLC, city: Madison, value: 112048767; rank: 10, crd: 289217, firm: Sullivan Investment Management LLC, city: Wisconsin Rapids, value: 111800000
- cities: name: Milwaukee, independent_rias: 31, raum: 14282364434, url: https://advisoriq.com/ria/states/wisconsin/milwaukee/; name: Madison, independent_rias: 35, raum: 12265396597, url: https://advisoriq.com/ria/states/wisconsin/madison/; name: Brookfield, independent_rias: 17, raum: 11075103764, url: https://advisoriq.com/ria/states/wisconsin/brookfield/; name: Appleton, independent_rias: 21, raum: 7440459040, url: https://advisoriq.com/ria/states/wisconsin/appleton/; name: Waukesha, independent_rias: 8, raum: 5452014565, url: https://advisoriq.com/ria/states/wisconsin/waukesha/; name: Middleton, independent_rias: 11, raum: 3305151660, url: https://advisoriq.com/ria/states/wisconsin/middleton/; name: Mequon, independent_rias: 13, raum: 1621143850, url: https://advisoriq.com/ria/states/wisconsin/mequon/; name: Wausau, independent_rias: 8, raum: 1413297984, url: https://advisoriq.com/ria/states/wisconsin/wausau/; name: Pewaukee, independent_rias: 5, raum: 1158373860, url: https://advisoriq.com/ria/states/wisconsin/pewaukee/; name: Verona, independent_rias: 5, raum: 1041266061, url: https://advisoriq.com/ria/states/wisconsin/verona/; name: Green Bay, independent_rias: 9, raum: 643631852, url: https://advisoriq.com/ria/states/wisconsin/green-bay/; name: Hartland, independent_rias: 5, raum: 589182312, url: https://advisoriq.com/ria/states/wisconsin/hartland/; name: Elm Grove, independent_rias: 5, raum: 315490515, url: https://advisoriq.com/ria/states/wisconsin/elm-grove/; name: Eau Claire, independent_rias: 8, raum: 230772943, url: https://advisoriq.com/ria/states/wisconsin/eau-claire/
- iar_ce_status: in effect

## Notes

- Firms are placed in the state of their main office.
- History covers SEC-registered firms only, from October 2018.

## Sources

- SEC, Information About Registered Investment Advisers (ia100226.zip), checked 2026-10-07: https://www.sec.gov/files/investment/data/other/information-about-registered-investment-advisers-exempt-reporting-advisers/ia100226.zip
- IAPD compilation reports (IA_FIRM_STATE_Feed_10_07_2026.xml.gz), checked 2026-10-07: https://adviserinfo.sec.gov/compilation
- NASAA IAR CE map, checked 2026-10-05: https://www.nasaa.org/industry-resources/investment-advisers/investment-adviser-representative-continuing-education/iar-ce-map/

## Related

- [RIA market data by state](https://advisoriq.com/ria/states/)
- [Largest independent RIAs by assets under management in Wisconsin](https://advisoriq.com/ria/rankings/largest/wisconsin/)
- [Fastest-growing independent RIAs over one year in Wisconsin](https://advisoriq.com/ria/rankings/fastest-growing/wisconsin/)
- [Fastest-growing independent RIAs over three years in Wisconsin](https://advisoriq.com/ria/rankings/fastest-growing-3-year/wisconsin/)
- [Fastest-growing independent RIAs over five years in Wisconsin](https://advisoriq.com/ria/rankings/fastest-growing-5-year/wisconsin/)
- [IAR CE in Wisconsin](https://advisoriq.com/ce/iar/wisconsin/)

## Cite as

AdvisorIQ, as of 2026-10-02. https://advisoriq.com/ria/states/wisconsin/

License: https://advisoriq.com/license/