RIA custodians · Form ADV filings, October 2025 to September 2026
UBS
The wealth-focused RIAs that custody with UBS: how many, how big, where they are and the largest of them. Every $1 billion+ RIA using UBS in the RIA database. News and coverage: UBS hub.
- RIAs using it
- 70 1% · 15th of 23
- Assets held
- $53B 14th of 23
- Median firm
- $599M 27 firms $1B+
- Only custodian
- 31% 22 firms
RIAs by size
Regulatory assets under management of each RIA naming UBS.
Largest independent RIAs using UBS
| # | Firm | Headquarters | Regulatory AUM | Held at UBS | Individual clients | Employees |
|---|---|---|---|---|---|---|
| 1 | Mmbg Investment Advisors Co.SEC record | Miami, FL | $3.0B | $397M | 137 | 14 |
| 2 | Sierra Capital LLCSEC record | Miami, FL | $1.6B | $150M | 76 | 8 |
| 3 | Virtus Family OfficeSEC record | EL Paso, TX | $727M | $379M | 144 | 5 |
| 4 | Fifth Force ManagementSEC record | Dallas, TX | $407M | $42M | 0 | 4 |
| 5 | Mbia Capital AdvisorsSEC record | Cincinnati, OH | $290M | $82M | 257 | 5 |
| 6 | Westbourne Investments, Inc.SEC record | Alexandria, VA | $276M | $23M | 173 | 7 |
| 7 | Anchor Capital Management, LLCSEC record | Ithaca, NY | $61M | $4M | 69 | 3 |
Ranked by regulatory assets under management. “Held at” is the separately managed account assets each firm reports at UBS; many firms split assets across custodians.
Where they are
Also custody with
Questions
How many RIAs use UBS?
70 wealth-focused SEC-registered RIAs name UBS as a custodian on Form ADV, about 1% of those that report one, ranking it 15th 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 UBS hold?
The RIAs that use UBS report $53B held there in separately managed accounts, 14th among custodians. The median firm keeps $135M at UBS and manages $599M in all.
What is the largest RIA that uses UBS?
Among independent wealth managers, Mmbg Investment Advisors Co. of Miami, FL is the largest firm naming UBS, with $3.0B in regulatory assets under management, $397M of it reported at UBS.
Do RIAs that use UBS also use other custodians?
31% of them name UBS as their only custodian. The most common second custodian is Charles Schwab, named by 21 of UBS’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.