RIAs With the Highest Account Values – 2024 Study

Registered investment advisories (RIAs) cater to diverse client needs. Depending on their target market and specialties, some firms may focus on clients with different asset levels, which could affect the average number and size of accounts under management. Measuring these average account numbers and values, along with the total AUMs, could help industry stakeholders understand the strategies and operations of different firms.

With this in mind, SmartAsset ranked 6,461 RIAs based on their average account value based on Securities and Exchange Commission (SEC) data from November 2024.

Key Findings 

• The number one firm has one account with nearly $2.7 billion. Arkadios Wealth Advisors, based in Atlanta, GA, claimed the number one spot in this year's ranking. The firm describes itself as an elite private-wealth firm, employing 153 people, not including clerical workers, 137 of which are registered to perform investment advisory functions.
• The average account value is nearly $3.3 million. This is up from $2.7 million last year. The median account value is currently $426,662, up from $386,646 last year. This is only a 10.3% increase in median value, while the S&P 500 is up roughly 30% over the same time period.
• RIAs have a median 696 accounts this year. Edelman Financial Engines, based in Santa Clara, CA, has the most accounts under management at just over 1.56 million. This is roughly 2.5 times the number of accounts managed by Commonwealth Financial Network, based in Waltham, MA, which has about 623,000 accounts. 
• The number of firms with over $100 million average account value grew by 33%. Last year, 21 firms had average account balances over $100 million – up to 28 firms this year. On average, these firms have about 90 employees each, with a median of 16.

Top 30 RIAs With the Highest Average Account Value

RIAs are ranked based on the average regulatory AUM per client account, including both discretionary and non-discretionary AUM.

1. ARKADIOS WEALTH ADVISORS
   • Main location: Atlanta, GA
   • Average account value: $2,681,123,534
   • Total regulatory AUM: $2,681,123,534
   • Total number of regulatory AUM accounts: 1
   • Discretionary AUM: $2,681,123,534
   • Number of discretionary AUM accounts: 1
   • Non-discretionary AUM: $0
   • Number of non-discretionary AUM accounts: 0
   • Number of full- and part-time employees: 153
2. SAMMONS FINANCIAL GROUP ASSET MANAGEMENT, LLC
   • Main location: West Des Moines, IA
   • Average account value: $1,419,842,346
   • Total regulatory AUM: $11,358,738,764
   • Total number of regulatory AUM accounts: 8
   • Discretionary AUM: $11,358,738,764
   • Number of discretionary AUM accounts: 8
   • Non-discretionary AUM: $0
   • Number of non-discretionary AUM accounts: 0
   • Number of full- and part-time employees: 15
3. PROMANAGE, LLC
   • Main location: Chicago, IL
   • Average account value: $891,752,571
   • Total regulatory AUM: $5,350,515,424
   • Total number of regulatory AUM accounts: 6
   • Discretionary AUM: $5,350,515,424
   • Number of discretionary AUM accounts: 6
   • Non-discretionary AUM: $0
   • Number of non-discretionary AUM accounts: 0
   • Number of full- and part-time employees: 12
4. HH CAPITAL MANAGEMENT, INC.
   • Main location: Hermosa Beach, CA
   • Average account value: $825,539,718
   • Total regulatory AUM: $825,539,718
   • Total number of regulatory AUM accounts: 1
   • Discretionary AUM: $0
   • Number of discretionary AUM accounts: 0
   • Non-discretionary AUM: $825,539,718
   • Number of non-discretionary AUM accounts: 1
   • Number of full- and part-time employees: 1
5. MIO PARTNERS, INC.
   • Main location: New York, NY
   • Average account value: $810,123,415
   • Total regulatory AUM: $47,797,281,465
   • Total number of regulatory AUM accounts: 59
   • Discretionary AUM: $47,797,281,465
   • Number of discretionary AUM accounts: 59
   • Non-discretionary AUM: $0
   • Number of non-discretionary AUM accounts: 0
   • Number of full- and part-time employees: 225
6. JASPER RIDGE PARTNERS, L.P.
   • Main location: Fort Worth, TX
   • Average account value: $653,661,716
   • Total regulatory AUM: $35,297,732,645
   • Total number of regulatory AUM accounts: 54
   • Discretionary AUM: $35,011,889,553
   • Number of discretionary AUM accounts: 53
   • Non-discretionary AUM: $285,843,092
   • Number of non-discretionary AUM accounts: 1
   • Number of full- and part-time employees: 115
7. MILLBURN RIDGEFIELD CORPORATION
   • Main location: New York, NY
   • Average account value: $621,890,078
   • Total regulatory AUM: $6,840,790,863
   • Total number of regulatory AUM accounts: 11
   • Discretionary AUM: $6,840,790,863
   • Number of discretionary AUM accounts: 11
   • Non-discretionary AUM: $0
   • Number of non-discretionary AUM accounts: 0
   • Number of full- and part-time employees: 54
8. COMPREHENSIVE FINANCIAL MANAGEMENT LLC
   • Main location: Los Gatos, CA
   • Average account value: $555,822,942
   • Total regulatory AUM: $16,674,688,257
   • Total number of regulatory AUM accounts: 30
   • Discretionary AUM: $16,674,688,257
   • Number of discretionary AUM accounts: 30
   • Non-discretionary AUM: $0
   • Number of non-discretionary AUM accounts: 0
   • Number of full- and part-time employees: 36
9. CAMBRIDGE ASSOCIATES, LLC
   • Main location: Boston, MA
   • Average account value: $507,131,660
   • Total regulatory AUM: $281,965,202,879
   • Total number of regulatory AUM accounts: 556
   • Discretionary AUM: $85,911,452,755
   • Number of discretionary AUM accounts: 191
   • Non-discretionary AUM: $196,053,750,124
   • Number of non-discretionary AUM accounts: 365
   • Number of full- and part-time employees: 1098
10. BT FAMILY OFFICE, LLC
    • Main location: Atlanta, GA
    • Average account value: $450,464,891
    • Total regulatory AUM: $2,702,789,348
    • Total number of regulatory AUM accounts: 6
    • Discretionary AUM: $0
    • Number of discretionary AUM accounts: 0
    • Non-discretionary AUM: $2,702,789,348
    • Number of non-discretionary AUM accounts: 6
    • Number of full- and part-time employees: 4

11. VALUE ALIGNED RESEARCH ADVISORS, LLC
    • Main location: Princeton, NJ
    • Average account value: $395,868,567
    • Total regulatory AUM: $395,868,567
    • Total number of regulatory AUM accounts: 1
    • Discretionary AUM: $395,868,567
    • Number of discretionary AUM accounts: 1
    • Non-discretionary AUM: $0
    • Number of non-discretionary AUM accounts: 0
    • Number of full- and part-time employees: 4
12. HOMESTEAD ADVISERS CORP.
    • Main location: Arlington, VA
    • Average account value: $360,420,370
    • Total regulatory AUM: $7,208,407,391
    • Total number of regulatory AUM accounts: 20
    • Discretionary AUM: $7,208,407,391
    • Number of discretionary AUM accounts: 20
    • Non-discretionary AUM: $0
    • Number of non-discretionary AUM accounts: 0
    • Number of full- and part-time employees: 41
13. FINANCIAL INTEGRITY ADVISORS, LLC
    • Main location: Philadelphia, PA
    • Average account value: $334,452,290
    • Total regulatory AUM: $13,712,543,894
    • Total number of regulatory AUM accounts: 41
    • Discretionary AUM: $3,798,699
    • Number of discretionary AUM accounts: 23
    • Non-discretionary AUM: $13,708,745,195
    • Number of non-discretionary AUM accounts: 18
    • Number of full- and part-time employees: 3
14. IMPERIAL CAPITAL PARTNERS
    • Main location: Fort Lauderdale, FL
    • Average account value: $279,238,382
    • Total regulatory AUM: $6,980,959,545
    • Total number of regulatory AUM accounts: 25
    • Discretionary AUM: $6,980,959,545
    • Number of discretionary AUM accounts: 25
    • Non-discretionary AUM: $0
    • Number of non-discretionary AUM accounts: 0
    • Number of full- and part-time employees: 8
15. HALL CAPITAL PARTNERS LLC
    • Main location: San Francisco, CA
    • Average account value: $270,445,977
    • Total regulatory AUM: $50,302,951,631
    • Total number of regulatory AUM accounts: 186
    • Discretionary AUM: $23,993,299,754
    • Number of discretionary AUM accounts: 93
    • Non-discretionary AUM: $26,309,651,877
    • Number of non-discretionary AUM accounts: 93
    • Number of full- and part-time employees: 175
16. KAYNE ANDERSON CAPITAL ADVISORS LP
    • Main location: Houston, TX
    • Average account value: $260,017,836
    • Total regulatory AUM: $31,722,176,000
    • Total number of regulatory AUM accounts: 122
    • Discretionary AUM: $31,722,176,000
    • Number of discretionary AUM accounts: 122
    • Non-discretionary AUM: $0
    • Number of non-discretionary AUM accounts: 0
    • Number of full- and part-time employees: 301
17. CAMBRIDGE ASSOCIATES LIMITED, LLC
    • Main location: Boston, MA
    • Average account value: $228,498,359
    • Total regulatory AUM: $5,255,462,250
    • Total number of regulatory AUM accounts: 23
    • Discretionary AUM: $307,434,984
    • Number of discretionary AUM accounts: 2
    • Non-discretionary AUM: $4,948,027,266
    • Number of non-discretionary AUM accounts: 21
    • Number of full- and part-time employees: 15
18. EAST END ADVISORS, LLC
    • Main location: New York, NY
    • Average account value: $170,184,796
    • Total regulatory AUM: $6,467,022,245
    • Total number of regulatory AUM accounts: 38
    • Discretionary AUM: $1,220,649,968
    • Number of discretionary AUM accounts: 19
    • Non-discretionary AUM: $5,246,372,277
    • Number of non-discretionary AUM accounts: 19
    • Number of full- and part-time employees: 16
19. GREYCOURT & CO., INC.
    • Main location: Pittsburgh, PA
    • Average account value: $159,099,665
    • Total regulatory AUM: $5,091,189,265
    • Total number of regulatory AUM accounts: 32
    • Discretionary AUM: $200,733,208
    • Number of discretionary AUM accounts: 1
    • Non-discretionary AUM: $4,890,456,057
    • Number of non-discretionary AUM accounts: 31
    • Number of full- and part-time employees: 42
20. BRICK CAPITAL MANAGEMENT INC
    • Main location: East Lansing, MI
    • Average account value: $148,590,909
    • Total regulatory AUM: $3,269,000,000
    • Total number of regulatory AUM accounts: 22
    • Discretionary AUM: $0
    • Number of discretionary AUM accounts: 0
    • Non-discretionary AUM: $3,269,000,000
    • Number of non-discretionary AUM accounts: 22
    • Number of full- and part-time employees: 1
21. MURPHY CLARKE WILLIAMS & STONE LLC
    • Main location: Coral Gables, FL
    • Average account value: $130,706,596
    • Total regulatory AUM: $130,706,596
    • Total number of regulatory AUM accounts: 1
    • Discretionary AUM: $130,706,596
    • Number of discretionary AUM accounts: 1
    • Non-discretionary AUM: $0
    • Number of non-discretionary AUM accounts: 0
    • Number of full- and part-time employees: 2
22. WE FAMILY OFFICES
    • Main location: Coral Gables, FL
    • Average account value: $128,790,889
    • Total regulatory AUM: $13,909,416,024
    • Total number of regulatory AUM accounts: 108
    • Discretionary AUM: $0
    • Number of discretionary AUM accounts: 0
    • Non-discretionary AUM: $13,909,416,024
    • Number of non-discretionary AUM accounts: 108
    • Number of full- and part-time employees: 59
23. OHANA ADVISORS
    • Main location: San Rafael, CA
    • Average account value: $125,249,690
    • Total regulatory AUM: $2,129,244,734
    • Total number of regulatory AUM accounts: 17
    • Discretionary AUM: $1,257,194,801
    • Number of discretionary AUM accounts: 10
    • Non-discretionary AUM: $872,049,933
    • Number of non-discretionary AUM accounts: 7
    • Number of full- and part-time employees: 12
24. PERMCAP INVESTMENT OFFICE
    • Main location: Charleston, SC
    • Average account value: $106,259,106
    • Total regulatory AUM: $4,462,882,442
    • Total number of regulatory AUM accounts: 42
    • Discretionary AUM: $2,591,077,089
    • Number of discretionary AUM accounts: 37
    • Non-discretionary AUM: $1,871,805,353
    • Number of non-discretionary AUM accounts: 5
    • Number of full- and part-time employees: 16
25. SK ADVISOR NETWORK, LLC
    • Main location: Plano, TX
    • Average account value: $105,438,390
    • Total regulatory AUM: $105,438,390
    • Total number of regulatory AUM accounts: 1
    • Discretionary AUM: $105,438,390
    • Number of discretionary AUM accounts: 1
    • Non-discretionary AUM: $0
    • Number of non-discretionary AUM accounts: 0
    • Number of full- and part-time employees: 2
26. POMONA WEALTH MANAGEMENT, LLC
    • Main location: Richland, WA
    • Average account value: $105,438,390
    • Total regulatory AUM: $105,438,390
    • Total number of regulatory AUM accounts: 1
    • Discretionary AUM: $105,438,390
    • Number of discretionary AUM accounts: 1
    • Non-discretionary AUM: $0
    • Number of non-discretionary AUM accounts: 0
    • Number of full- and part-time employees: 1
27. SUMMIT ROCK ADVISORS, LP
    • Main location: New York, NY
    • Average account value: $105,306,330
    • Total regulatory AUM: $21,482,491,277
    • Total number of regulatory AUM accounts: 204
    • Discretionary AUM: $12,184,704,172
    • Number of discretionary AUM accounts: 155
    • Non-discretionary AUM: $9,297,787,105
    • Number of non-discretionary AUM accounts: 49
    • Number of full- and part-time employees: 84
28. PINE RIDGE ADVISERS LLC
    • Main location: New York, NY
    • Average account value: $104,604,576
    • Total regulatory AUM: $3,451,950,996
    • Total number of regulatory AUM accounts: 33
    • Discretionary AUM: $3,451,950,996
    • Number of discretionary AUM accounts: 33
    • Non-discretionary AUM: $0
    • Number of non-discretionary AUM accounts: 0
    • Number of full- and part-time employees: 12
29. REGIS MANAGEMENT, A MERCER ADVISORS COMPANY
    • Main location: Denver, CO
    • Average account value: $95,630,631
    • Total regulatory AUM: $2,868,918,920
    • Total number of regulatory AUM accounts: 30
    • Discretionary AUM: $2,868,918,920
    • Number of discretionary AUM accounts: 30
    • Non-discretionary AUM: $0
    • Number of non-discretionary AUM accounts: 0
    • Number of full- and part-time employees: 13
30. FIDUCIARYVEST, LLC
    • Main location: Atlanta, GA
    • Average account value: $82,873,258
    • Total regulatory AUM: $4,640,902,467
    • Total number of regulatory AUM accounts: 56
    • Discretionary AUM: $300,925,854
    • Number of discretionary AUM accounts: 38
    • Non-discretionary AUM: $4,339,976,613
    • Number of non-discretionary AUM accounts: 18
    • Number of full- and part-time employees: 10

Data and Methodology

This study considered regulatory assets under management in discretionary and non-discretionary accounts. Account types may include individual trusts, estates, 401(k) plans and IRAs, but do not include business organizations. Firms were included if they were headquartered in the U.S., offer financial planning services, have reported regulatory AUM and monitor securities portfolios. Firms were excluded if they had any disclosures on their ADV, or if they were headquartered from their personal residence. Then, firms were ranked based on average value of their total regulatory assets under management per account. Data was available for 6,461 RIAs.

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