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RIAs by state · SEC data as of October 1, 2026

RIAs in California

The SEC-registered investment advisers based in California, what they manage, and the largest independent wealth managers.

California is home to 1,008 wealth-focused RIAs managing $1.91T, 1st of 51 states and DC. The largest is Edelman Financial Engines in Santa Clara, with $326B.

Wealth-focused RIAs
1,008
1st of 51
Their assets
$1.91T
4th of 51
$1B+ firms
194
Median $321M
All SEC RIAs
1,843
95,912 employees

Largest independent wealth managers in California

Largest independent wealth managers headquartered in California
#FirmHeadquartersRegulatory AUMIndividual clientsEmployees
1Edelman Financial EnginesSEC recordSanta Clara$326B477,1701,679
2IEQ Capital, LLCSEC recordFoster City$57B2,300266
3Beacon Pointe Advisors, LLCSEC recordNewport Beach$55B29,565780
4EP Wealth AdvisorsSEC recordTorrance$45B19,618618
5LidoSEC recordLOS Angeles$43B13,043437
6Jordan Park Group LLCSEC recordSAN Francisco$23B163153
7SeiaSEC recordLOS Angeles$23B9,520241
8Baker Street Advisors, LLCSEC recordSAN Francisco$21B50463
9Comprehensive Financial Management LLCSEC recordLOS Gatos$19B1338
10Aspiriant, LLCSEC recordLOS Angeles$18B2,310218
11Mission Wealth Management, LPSEC recordSanta Barbara$17B5,299220
12Alphacore Capital LLCSEC recordLa Jolla$13B3,985124
13Perigon Wealth Management, LLCSEC recordSAN Francisco$11B5,421159
14Pure Financial Advisors, LLCSEC recordSAN Diego$11B7,503204
15Parallel Advisors, LLCSEC recordSAN Francisco$10B4,169137

Ranked by regulatory assets under management on each firm’s latest Form ADV. Excludes broker-dealers’ advisory arms and managed-account platforms. Nationally: the 100 largest RIAs.

Questions

How many RIAs are there in California?

1,843 SEC-registered investment advisers have their main office in California, and 1,008 of them are wealth-focused, managing at least half of their assets for individuals and high-net-worth clients. That ranks California 1st of 51 states and DC, according to Financial ADVSR’s count of SEC data as of October 1, 2026.

What is the largest RIA in California?

Edelman Financial Engines, based in Santa Clara, is the largest independent wealth manager headquartered in California, with $326B in regulatory assets under management and 477,170 individual clients on its latest Form ADV.

How much do California RIAs manage?

Wealth-focused RIAs based in California report $1.91T in regulatory assets under management, 4th among the states. 194 of them manage $1 billion or more; the median manages $321M.

How we built this

The SEC publishes a list of every registered investment adviser, drawn from each firm’s Form ADV. We used the list current through October 1, 2026, kept the 16,943 advisers the SEC shows as approved, and placed each in the state of its main office; 14,641 are based in the United States. Regulatory assets under management come from Item 5.F, client counts from Item 5.D.

Wealth-focused RIAs manage at least half of their assets for individuals and high-net-worth clients, the same test as our RIA Custody Tracker; there are 8,130 in the US. Rankings and each state’s largest-firms list show independent wealth managers only: wealth-focused firms that offer financial planning, are not themselves broker-dealers, and hold less than half their assets in wrap programs they sponsor or manage. That leaves out wirehouse and broker-dealer advisory arms and managed-account platforms, which still count in each state’s totals.

What it doesn’t show

  • State-registered advisers, most of which manage less than $100 million, register with their state regulator and aren’t in SEC data.
  • A firm counts only in its main office state, though many have offices in several.
  • Figures are as of each adviser’s latest annual Form ADV update, usually its December 31 fiscal year-end, so they lag recent deals.
  • Firms that file under more than one registration (an RIA and a separate institutional arm, for example) appear as separate advisers.

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

Other states