| State/top 3 firms | # of fee-only RIAs | Total assets ($M)/market share | Discretionary assets ($M)/ market share | Nondiscretionary assets ($M)/market share | ||
|---|---|---|---|---|---|---|
| 1 | CA | California | 357 | $271,694.9 | $222,410.8 | $49,284.1 |
| 1 | $36,253,881,136.0 | Hall Capital Partners | 13.3% | 5.4% | 49.2% | |
| 2 | $14,175,031,522.0 | Comprehensive Financial Management | 5.2% | 6.4% | 0.0% | |
| 3 | $11,669,979,000.0 | Aspiriant | 4.3% | 4.5% | 3.6% | |
| 2 | NY | New York | 127 | $167,378.0 | $124,021.5 | $43,356.4 |
| 1 | $19,032,237,664.0 | Silvercrest Asset Management Group | 11.4% | 11.5% | 11.0% | |
| 2 | $15,886,200,000.0 | Bbr Partners | 9.5% | 11.1% | 4.9% | |
| 3 | $13,920,631,060.0 | Tiedemann Advisors | 8.3% | 9.3% | 5.4% | |
| 3 | MA | Massachusetts | 119 | $121,351.0 | $105,937.8 | $15,413.2 |
| 1 | $9,650,758,503.0 | Appleton Partners | 8.0% | 9.1% | 0.0% | |
| 2 | $7,242,359,482.0 | Loring, Wolcott & Coolidge Fiduciary Advisors | 6.0% | 6.7% | 1.2% | |
| 3 | $6,789,176,351.0 | Boston Private Wealth | 5.6% | 6.0% | 2.5% | |
| 4 | TX | Texas | 139 | $84,044.6 | $73,675.4 | $10,369.2 |
| 1 | $20,001,675,594.0 | Jasper Ridge Partners | 23.8% | 26.2% | 6.9% | |
| 2 | $3,857,118,299.0 | Rgt Wealth Advisors | 4.6% | 4.8% | 3.1% | |
| 3 | $3,385,226,552.0 | South Texas Money Management | 4.0% | 4.5% | 0.5% | |
| 5 | IL | Illinois | 85 | $66,978.3 | $46,154.2 | $20,824.1 |
| 1 | $10,892,864,000.0 | Brownson, Rehmus & Foxworth | 16.3% | 0.0% | 52.3% | |
| 2 | $5,382,962,097.0 | Savant Capital Management | 8.0% | 11.7% | 0.0% | |
| 3 | $4,404,369,221.0 | Altair Advisers | 6.6% | 2.6% | 15.3% | |
| 6 | OH | Ohio | 90 | $66,863.1 | $59,552.2 | $7,310.9 |
| 1 | $11,524,531,262.0 | Bahl & Gaynor Inc | 17.2% | 18.0% | 10.7% | |
| 2 | $10,661,232,987.0 | Johnson Investment Counsel | 15.9% | 17.9% | 0.0% | |
| 3 | $2,731,503,548.0 | Truepoint | 4.1% | 4.5% | 0.4% | |
| 7 | PA | Pennsylvania | 100 | $54,722.4 | $47,076.5 | $7,645.9 |
| 1 | $5,623,049,466.0 | Mill Creek Capital Advisors | 10.3% | 10.8% | 7.1% | |
| 2 | $2,439,958,910.0 | Miller Investment Management | 4.5% | 3.0% | 13.3% | |
| 3 | $2,328,322,693.0 | Wharton Business Group | 4.3% | 4.5% | 3.0% | |
| 8 | VA | Virginia | 89 | $46,682.1 | $39,721.1 | $6,961.0 |
| 1 | $3,518,350,523.0 | Sullivan, Bruyette, Speros & Blayney | 7.5% | 8.8% | 0.5% | |
| 2 | $2,848,662,345.0 | Wilbanks, Smith & Thomas Asset Management | 6.1% | 7.0% | 0.7% | |
| 3 | $2,159,257,350.0 | Palladium Registered Investment Advisors | 4.6% | 5.4% | 0.4% | |
| 9 | GA | Georgia | 65 | $44,908.6 | $38,583.1 | $6,325.5 |
| 1 | $5,457,259,462.0 | Homrich Berg | 12.2% | 12.8% | 8.5% | |
| 2 | $3,494,180,457.0 | Signaturefd | 7.8% | 7.2% | 11.4% | |
| 3 | $3,335,519,000.0 | Brightworth | 7.4% | 8.6% | 0.0% | |
| 10 | FL | Florida | 94 | $43,319.9 | $28,444.0 | $14,875.9 |
| 1 | $7,402,699,857.0 | We Family Offices | 17.1% | 0.0% | 49.8% | |
| 2 | $5,064,489,201.0 | Cv Advisors | 11.7% | 1.8% | 30.6% | |
| 3 | $1,974,181,688.0 | Water Oak Advisors | 4.6% | 6.4% | 1.0% | |
| 11 | WA | Washington | 69 | $43,244.2 | $38,726.9 | $4,517.3 |
| 1 | $5,299,273,672.0 | Brighton Jones | 12.3% | 13.3% | 3.0% | |
| 2 | $3,405,849,216.0 | Cornerstone Advisors | 7.9% | 8.8% | 0.0% | |
| 3 | $2,636,476,973.0 | Badgley Phelps Wealth Managers | 6.1% | 6.3% | 4.1% | |
| 12 | NJ | New Jersey | 69 | $39,964.5 | $30,285.6 | $9,678.9 |
| 1 | $8,534,379,588.0 | Pathstone | 21.4% | 12.3% | 49.6% | |
| 2 | $3,597,790,767.0 | Regentatlantic | 9.0% | 11.7% | 0.4% | |
| 3 | $2,975,554,906.0 | Massey Quick Simon & Co. | 7.4% | 6.6% | 10.1% | |
| 13 | CO | Colorado | 67 | $35,022.1 | $29,692.3 | $5,329.8 |
| 1 | $10,687,217,357.0 | Mercer Global Advisors | 30.5% | 34.8% | 6.8% | |
| 2 | $1,992,744,728.0 | Iwp Wealth Management | 5.7% | 0.7% | 33.4% | |
| 3 | $1,569,961,106.0 | Colorado Financial Management | 4.5% | 5.3% | 0.1% | |
| 14 | MO | Missouri | 23 | $33,395.2 | $18,547.5 | $14,847.7 |
| 1 | $20,257,468,937.0 | Moneta Group Investment Advisors | 60.7% | 49.7% | 74.4% | |
| 2 | $3,670,437,507.0 | Plancorp | 11.0% | 18.9% | 1.1% | |
| 3 | $2,428,409,909.0 | Matter Family Office | 7.3% | 0.5% | 15.8% | |
| 15 | MI | Michigan | 60 | $32,201.8 | $27,069.8 | $5,132.0 |
| 1 | $2,712,917,102.0 | Zhang Financial | 8.4% | 5.1% | 26.2% | |
| 2 | $2,512,170,637.0 | Advance Capital Management | 7.8% | 9.2% | 0.6% | |
| 3 | $2,485,893,458.0 | Mainstay Capital Management | 7.7% | 8.5% | 3.7% | |
| 16 | MD | Maryland | 54 | $27,670.8 | $23,374.4 | $4,296.4 |
| 1 | $3,679,834,880.0 | Wms Partners | 13.3% | 11.2% | 24.7% | |
| 2 | $2,321,727,367.0 | Heritage Investors Management Corp | 8.4% | 9.9% | 0.4% | |
| 3 | $1,954,331,836.0 | Pinnacle Advisory Group | 7.1% | 8.4% | 0.0% | |
| 17 | MN | Minnesota | 46 | $26,807.2 | $20,812.1 | $5,995.1 |
| 1 | $5,751,115,655.0 | Fiduciary Counselling | 21.5% | 11.9% | 54.7% | |
| 2 | $3,237,445,009.0 | Meristem Family Wealth | 12.1% | 7.2% | 28.8% | |
| 3 | $1,869,377,862.0 | Accredited Investors Wealth Management | 7.0% | 8.6% | 1.3% | |
| 18 | NC | North Carolina | 60 | $23,385.0 | $20,882.0 | $2,503.0 |
| 1 | $1,624,180,633.0 | Colony Family Offices | 6.9% | 7.6% | 1.9% | |
| 2 | $1,584,499,773.0 | Biltmore Family Office | 6.8% | 4.3% | 27.8% | |
| 3 | $1,377,889,908.0 | Smith, Salley & Associates | 5.9% | 6.6% | 0.0% | |
| 19 | WI | Wisconsin | 45 | $22,149.7 | $20,914.4 | $1,235.4 |
| 1 | $4,191,363,849.0 | Orgel Wealth Management | 18.9% | 20.0% | 0.0% | |
| 2 | $1,577,049,019.0 | North Star Asset Management | 7.1% | 7.4% | 2.1% | |
| 3 | $1,404,184,629.0 | Pegasus Partners | 6.3% | 6.3% | 7.2% | |
| 20 | OR | Oregon | 40 | $20,735.7 | $20,068.4 | $667.3 |
| 1 | $4,965,805,899.0 | Ferguson Wellman Capital Management | 23.9% | 24.7% | 0.0% | |
| 2 | $3,962,352,799.0 | Becker Capital Management | 19.1% | 19.7% | 0.0% | |
| 3 | $1,340,404,949.0 | Vista Capital Partners | 6.5% | 6.7% | 0.0% | |
| 21 | KS | Kansas | 31 | $19,968.8 | $17,928.8 | $2,040.0 |
| 1 | $8,613,083,544.0 | Fci Advisors | 43.1% | 41.8% | 55.0% | |
| 2 | $1,530,433,045.0 | Meritage Portfolio Management | 7.7% | 8.2% | 2.6% | |
| 3 | $1,376,475,446.0 | Rocky Mountain Advisers | 6.9% | 7.7% | 0.0% | |
| 22 | CT | Connecticut | 39 | $19,446.9 | $16,566.9 | $2,880.0 |
| 1 | $3,440,594,013.0 | Bradley Foster & Sargent | 17.7% | 20.7% | 0.1% | |
| 2 | $2,661,623,147.0 | Northeast Financial | 13.7% | 15.3% | 4.6% | |
| 3 | $1,589,986,385.0 | Beirne Wealth Consulting Services | 8.2% | 2.1% | 42.9% | |
| 23 | IN | Indiana | 37 | $19,084.1 | $16,948.9 | $2,135.2 |
| 1 | $3,750,482,809.0 | Valeo Financial Advisors | 19.7% | 15.0% | 56.6% | |
| 2 | $1,613,067,772.0 | Donaldson Capital Management | 8.5% | 9.1% | 3.4% | |
| 3 | $1,521,447,216.0 | Goelzer Investment Management | 8.0% | 8.4% | 4.7% | |
| 24 | TN | Tennessee | 44 | $15,812.3 | $13,900.3 | $1,912.0 |
| 1 | $1,225,200,390.0 | Legacy Wealth Management | 7.7% | 8.2% | 4.1% | |
| 2 | $927,944,531.0 | Reliant Investment Management | 5.9% | 5.1% | 11.2% | |
| 3 | $918,444,748.0 | Capwealth Advisors | 5.8% | 6.4% | 1.5% | |
| 25 | AZ | Arizona | 41 | $13,952.3 | $12,582.6 | $1,369.8 |
| 1 | $2,464,227,049.0 | Tci Wealth Advisors | 17.7% | 19.1% | 4.1% | |
| 2 | $1,451,242,875.0 | Dynamic Wealth Advisors | 10.4% | 10.3% | 11.1% | |
| 3 | $1,088,194,136.0 | Wall Capital Group | 7.8% | 2.8% | 53.8% | |
| 26 | ME | Maine | 11 | $10,531.0 | $10,057.6 | $473.4 |
| 1 | $3,938,594,864.0 | R M Davis | 37.4% | 39.1% | 2.0% | |
| 2 | $3,640,289,611.0 | H.M. Payson | 34.6% | 32.2% | 84.3% | |
| 3 | $1,087,176,244.0 | Vigilant Capital Management | 10.3% | 10.8% | 0.0% | |
| 27 | NE | Nebraska | 13 | $7,619.9 | $7,234.7 | $385.1 |
| 1 | $4,235,258,988.0 | Bridges Investment Management | 55.6% | 57.0% | 28.7% | |
| 2 | $963,416,713.0 | Lutz Financial | 12.6% | 11.8% | 28.7% | |
| 3 | $405,294,758.0 | Cambridge Advisors | 5.3% | 5.3% | 6.5% | |
| 28 | SC | South Carolina | 26 | $7,550.1 | $6,605.4 | $944.7 |
| 1 | $1,044,694,378.0 | Abacus Planning Group | 13.8% | 15.8% | 0.0% | |
| 2 | $769,376,576.0 | Colonial Trust Advisors | 10.2% | 10.5% | 8.1% | |
| 3 | $717,528,882.0 | Dividend Assets Capital | 9.5% | 10.8% | 0.5% | |
| 29 | AL | Alabama | 14 | $6,531.1 | $6,233.8 | $297.3 |
| 1 | $1,817,958,121.0 | Welch Hornsby | 27.8% | 29.2% | 0.0% | |
| 2 | $1,431,562,472.0 | The Welch Group | 21.9% | 23.0% | 0.0% | |
| 3 | $1,425,254,932.0 | Arlington Partners | 21.8% | 20.4% | 51.4% | |
| 30 | VT | Vermont | 10 | $6,499.1 | $5,660.8 | $838.3 |
| 1 | $3,425,674,102.0 | Manchester Capital Management | 52.7% | 46.7% | 93.1% | |
| 2 | $922,510,777.0 | Maple Capital Management | 14.2% | 16.1% | 1.6% | |
| 3 | $522,576,489.0 | Pathway Financial Advisors | 8.0% | 9.2% | 0.0% | |
| 31 | OK | Oklahoma | 12 | $6,488.4 | $5,859.3 | $629.1 |
| 1 | $2,055,168,990.0 | Exencial Wealth Advisors | 31.7% | 31.3% | 34.9% | |
| 2 | $1,191,482,234.0 | Tom Johnson Investment Management | 18.4% | 20.3% | 0.0% | |
| 3 | $662,679,901.0 | Full Sail Capital | 10.2% | 10.8% | 4.8% | |
| 32 | RI | Rhode Island | 12 | $6,306.0 | $5,617.3 | $688.7 |
| 1 | $1,191,268,867.0 | Parsons Capital Management | 18.9% | 21.2% | 0.0% | |
| 2 | $1,049,145,017.0 | Matheys Lane Capital Management | 16.6% | 10.6% | 65.6% | |
| 3 | $836,734,347.0 | Endurance Wealth Management | 13.3% | 13.4% | 12.6% | |
| 33 | LA | Louisiana | 14 | $5,890.6 | $4,917.4 | $973.2 |
| 1 | $1,532,189,675.0 | Waters, Parkerson & Co. | 26.0% | 29.1% | 10.4% | |
| 2 | $1,152,862,375.0 | Resource Management | 19.6% | 23.4% | 0.0% | |
| 3 | $617,575,329.0 | Crescent Capital Consulting | 10.5% | 6.6% | 29.9% | |
| 34 | IA | Iowa | 16 | $4,862.4 | $4,662.6 | $199.8 |
| 1 | $2,017,235,841.0 | Foster Group | 41.5% | 43.3% | 0.0% | |
| 2 | $432,992,725.0 | Syverson Strege | 8.9% | 7.3% | 45.3% | |
| 3 | $277,832,364.0 | Boyle Capital | 5.7% | 5.4% | 12.1% | |
| 35 | UT | Utah | 17 | $4,203.3 | $3,384.1 | $819.2 |
| 1 | $978,577,639.0 | Albion Financial Group | 23.3% | 26.5% | 9.8% | |
| 2 | $401,794,521.0 | Truenorth Wealth | 9.6% | 2.0% | 40.8% | |
| 3 | $343,818,665.0 | Capita Financial Network | 8.2% | 10.2% | 0.0% | |
| 36 | NH | New Hampshire | 17 | $4,144.2 | $3,996.3 | $147.9 |
| 1 | $650,733,868.0 | Harvest Capital Management | 15.7% | 16.3% | 0.0% | |
| 2 | $620,031,231.0 | Granite Investment Advisors | 15.0% | 14.9% | 17.3% | |
| 3 | $414,521,805.0 | Cmh Wealth Management | 10.0% | 10.4% | 0.0% | |
| 37 | ID | Idaho | 11 | $3,291.7 | $2,388.3 | $903.4 |
| 1 | $637,867,573.0 | Rathbone Warwick Investment Management | 19.4% | 23.4% | 8.8% | |
| 2 | $539,138,079.0 | Buffington Mohr Mcneal | 16.4% | 21.9% | 1.9% | |
| 3 | $497,220,386.0 | Aspen Capital Management | 15.1% | 0.0% | 55.0% | |
| 38 | AK | Alaska | 4 | $3,248.6 | $3,081.5 | $167.1 |
| 1 | $2,536,504,107.0 | Alaska Permanent Capital Management | 78.1% | 78.3% | 74.0% | |
| 2 | $361,068,662.0 | Apcm Wealth Management For Individuals | 11.1% | 11.7% | 0.0% | |
| 3 | $187,000,000.0 | Foundations Asset Management | 5.8% | 4.8% | 23.9% | |
| 39 | NV | Nevada | 11 | $3,246.2 | $2,806.4 | $439.8 |
| 1 | $1,408,485,773.0 | The Wealth Consulting Group | 43.4% | 46.1% | 25.8% | |
| 2 | $431,402,391.0 | Buckley Wealth Management | 13.3% | 14.7% | 4.2% | |
| 3 | $246,815,458.0 | Arista Wealth Management | 7.6% | 7.3% | 9.2% | |
| 40 | AR | Arkansas | 9 | $2,774.0 | $2,658.9 | $115.1 |
| 1 | $467,142,352.0 | The Arkansas Financial Group | 16.8% | 17.6% | 0.0% | |
| 2 | $463,469,114.0 | Smith Capital Management | 16.7% | 17.3% | 3.5% | |
| 3 | $462,810,348.0 | Greenwood Gearhart | 16.7% | 17.4% | 0.0% | |
| 41 | MS | Mississippi | 9 | $2,683.5 | $2,652.8 | $30.7 |
| 1 | $650,915,136.0 | Medley & Brown | 24.3% | 24.5% | 0.0% | |
| 2 | $640,984,315.0 | Ccg Asset Management | 23.9% | 24.2% | 0.0% | |
| 3 | $483,547,892.0 | Financial Concepts | 18.0% | 18.2% | 0.0% | |
| 42 | DE | Delaware | 11 | $2,423.0 | $2,210.1 | $212.9 |
| 1 | $650,000,000.0 | Lau Associates | 26.8% | 29.4% | 0.0% | |
| 2 | $395,445,707.0 | Schiavi + Dattani | 16.3% | 15.5% | 24.6% | |
| 3 | $228,861,727.0 | Westover Capital Advisors | 9.4% | 10.4% | 0.0% | |
| 43 | KY | Kentucky | 10 | $1,969.6 | $1,816.1 | $153.5 |
| 1 | $312,586,803.0 | Alphamark Advisors | 15.9% | 17.2% | 0.0% | |
| 2 | $290,300,000.0 | Landmark Financial Advisors | 14.7% | 15.1% | 10.0% | |
| 3 | $239,104,398.0 | Saling Wealth Advisors | 12.1% | 12.4% | 8.6% | |
| 44 | HI | Hawaii | 4 | $1,943.1 | $1,801.1 | $141.9 |
| 1 | $1,432,707,520.0 | Cadinha & Co | 73.7% | 79.5% | 0.0% | |
| 2 | $278,865,319.0 | The Rice Partnership | 14.4% | 14.2% | 16.8% | |
| 3 | $118,138,233.0 | 3D Wealth Advisors | 6.1% | 0.0% | 83.2% | |
| 45 | DC | District of Columbia | 3 | $1,835.7 | $1,663.8 | $171.9 |
| 1 | $1,509,940,951.0 | Farr Miller & Washington | 82.3% | 90.5% | 2.7% | |
| 2 | $167,268,009.0 | Bryspen, Incorporated | 9.1% | 0.0% | 97.3% | |
| 3 | $158,513,000.0 | Geometric Wealth Advisors | 8.6% | 9.5% | 0.0% | |
| 46 | WV | West Virginia | 3 | $1,276.8 | $1,079.2 | $197.6 |
| 1 | $1,003,834,374.0 | Mckinley Carter Wealth Services | 78.6% | 74.9% | 98.8% | |
| 2 | $139,915,220.0 | Fort Henry Capital | 11.0% | 12.7% | 1.2% | |
| 3 | $133,050,836.0 | Ironwood Wealth Management | 10.4% | 12.3% | 0.0% | |
| 47 | MT | Montana | 2 | $1,135.2 | $257.9 | $877.3 |
| 1 | $996,006,543.0 | Bitterroot Capital Advisors | 87.7% | 46.0% | 100.0% | |
| 2 | $139,157,511.0 | Loveless Wealth Management | 12.3% | 54.0% | 0.0% | |
| 48 | NM | New Mexico | 6 | $1,020.8 | $978.1 | $42.7 |
| 1 | $293,447,262.0 | Universal Advisory Services | 28.7% | 27.8% | 51.5% | |
| 2 | $235,984,199.0 | Spence Asset Management | 23.1% | 22.3% | 41.5% | |
| 3 | $158,724,841.0 | Portfolio Wealth Advisors | 15.5% | 16.2% | 0.0% | |
| 49 | SD | South Dakota | 3 | $854.6 | $839.6 | $15.0 |
| 1 | $390,000,000.0 | Compass Financial Group | 45.6% | 44.7% | 100.0% | |
| 2 | $339,993,853.0 | Elgethun Capital Management | 39.8% | 40.5% | 0.0% | |
| 3 | $124,569,085.0 | Kahler Financial Group, Inc. | 14.6% | 14.8% | 0.0% | |
| 50 | ND | North Dakota | 2 | $233.3 | $211.4 | $21.9 |
| 1 | $122,475,734.0 | Johnson Wealth Management | 52.5% | 51.4% | 63.4% | |
| 2 | $110,858,143.0 | Wealth Forward | 47.5% | 48.6% | 36.6% | |
| 51 | WY | Wyoming | 1 | $114.8 | $114.8 | $0.0 |
| 1 | $114,827,080.0 | Cypress Capital Management | 100.0% | 100.0% | #DIV/0! |
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