RIA custodians · Form ADV filings, October 2025 to September 2026

SEI

The wealth-focused RIAs that custody with SEI: how many, how big, where they are and the largest of them. Every $1 billion+ RIA using SEI in the RIA database. News and coverage: SEI hub.

RIAs using it: 167
Assets held: $55B
Median firm: $269M
Only custodian: 40%

RIAs by size

Under $250M7746%
$250M–$1B6438%
$1B–$5B2113%
$5B+53%

Regulatory assets under management of each RIA naming SEI.

Largest independent RIAs using SEI

Largest independent wealth management RIAs naming SEI as a custodian
#	Firm	Headquarters	Regulatory AUM	Held at SEI	Individual clients	Employees
1	Independent Financial Partners SEC record	Tampa, FL	$16B	$647M	52,539	328
2	Choate Investment Advisors SEC record	Boston, MA	$10B	$9.0B	614	34
3	Rubinbrown Advisors LLC SEC record	St. Louis, MO	$3.9B	$166M	1,151	30
4	Diversified, LLC SEC record	Wilmington, DE	$2.8B	$1.9B	1,982	53
5	Everhart Advisors SEC record	Dublin, OH	$2.5B	$1.8B	2,268	59
6	TLG Advisors, Inc.SEC record	Summit, NJ	$2.3B	$257M	5,018	290
7	Ciccarelli Advisory Services Inc SEC record	Naples, FL	$1.6B	$358M	3,553	16
8	Retirement Investment Advisors Inc SEC record	Oklahoma City, OK	$1.5B	$1.5B	1,399	15
9	Martel Wealth Advisors, LLC SEC record	Vancouver, WA	$1.5B	$133M	998	13
10	United Advisor Group SEC record	Cincinnati, OH	$1.4B	$530M	6,395	69
11	Chatterton & Associates SEC record	Anaheim, CA	$1.3B	$1.3B	1,542	31
12	Lexaurum Advisors SEC record	Overland Park, KS	$1.3B	$102M	2,189	50
13	Cedar Mountain Advisors, LLC SEC record	Lake Oswego, OR	$1.2B	$84M	832	10
14	TCP Asset Management, LLC SEC record	Upper Arlington, OH	$1.2B	$122M	2,221	43
15	Vantage Wealth Management, LLC SEC record	SAN Mateo, CA	$1.1B	$1.1B	635	9
16	Investmark Advisory Group LLCSEC record	Shelton, CT	$930M	$240M	598	10
17	Syverson StregeSEC record	West DES Moines, IA	$911M	$374M	523	15
18	Formidable Asset Management, LLCSEC record	Cincinnati, OH	$903M	$68M	877	21
19	Helmstar Wealth ManagementSEC record	Boise, ID	$786M	$752M	523	12
20	Tilson Financial Group IncSEC record	New Providence, NJ	$751M	$96M	410	9
21	Bluechip Wealth Advisors LLCSEC record	Milton, GA	$666M	$157M	372	8
22	Collaborative WealthSEC record	Lake Mary, FL	$653M	$142M	915	13
23	The Enterprise Investment CompanySEC record	Farmington Hills, MI	$607M	$5M	795	7
24	AIS PlanningSEC record	St. Cloud, MN	$591M	$558M	496	13
25	Pinnacle Wealth AdvisorsSEC record	Clackamas, OR	$550M	$177M	810	21

Ranked by regulatory assets under management. “Held at” is the separately managed account assets each firm reports at SEI; many firms split assets across custodians.

Where they are

Also custody with

Questions

How many RIAs use SEI?

167 wealth-focused SEC-registered RIAs name SEI as a custodian on Form ADV, about 2% of those that report one, ranking it 8th of the 23 custodians we track, according to Financial ADVSR’s review of filings from October 2025 to September 2026.

How much RIA money does SEI hold?

The RIAs that use SEI report $55B held there in separately managed accounts, 12th among custodians. The median firm keeps $142M at SEI and manages $269M in all.

What is the largest RIA that uses SEI?

Among independent wealth managers, Independent Financial Partners of Tampa, FL is the largest firm naming SEI, with $16B in regulatory assets under management, $647M of it reported at SEI.

Do RIAs that use SEI also use other custodians?

40% of them name SEI as their only custodian. The most common second custodian is Charles Schwab, named by 76 of SEI’s RIAs.

How we built this

Every SEC-registered adviser lists, in Schedule D, Section 5.K(3) of Form ADV, each custodian that holds 10% or more of its separately managed account assets, with the amount held. We took each adviser’s latest filing from October 2025 to September 2026 and kept the 9,157 wealth-focused firms, which manage at least half of their assets for individuals and high-net-worth clients; 8,572 of them report custodians. Custodian legal entities are grouped by parent, so Schwab’s entities count as one custodian and Fidelity’s RIA custody and clearing businesses as another. A custodian’s own affiliated advisers aren’t counted toward it. The firm counts match our RIA Custody Tracker.

Largest-firm tables show independent wealth managers only, the same test as the Largest RIAs: firms that offer financial planning, aren’t broker-dealers themselves and hold less than half their assets in wrap programs they sponsor or manage. Firm size and headquarters come from the SEC’s registered-adviser list.

What it doesn’t show

Custodians holding less than 10% of a firm’s separately managed account assets aren’t listed, so smaller relationships are missed.
Assets held cover separately managed accounts only, not pooled funds, and are as of each firm’s fiscal year-end.
Broker-dealer clearing firms appear alongside RIA custodians because advisers list them the same way; Fidelity and Pershing pages show the split.
State-registered advisers, most with under $100 million, aren’t in SEC data.

The data is free to use with credit to Financial ADVSR. Questions or corrections: contact the editors.