Wednesday, October 21, 2026The Morning EditionOpen AtlasSign inJoin free
FinancialADVSR

Est. 2026The front page of wealth managementNew York

The Morning EditionFree · 6:30 AM ETSubscribe
IN SpaceX’s AI segment now drives more than half its revenue. Here’s what advisors should watch nextFP Why AI might recommend your competitor instead of youFP Why clients are choosing phased retirement — and what advisors should know4K SPARK Forum Offering Scholarships for Retirement Plan AdvisorsFP What Schwab's new ETF platform fees mean for clients, advisorsWM RIA Platform Leaders Ask ‘What’s the Advantage in Having Your Own Form ADV?’IN Fake e-vite phishing scams put high-net-worth clients at riskRB Rick Wurster says Schwab is tackling its forced rationing of long/short SMAs with proprietary 'offering' to stretch balance sheet, but it may be more about a fee upside, a long/short manager saysIN Fintech bytes: 55ip, Vise, Syntax push tax-smart tools for RIAsWM $20B Modera Wealth Management Launches AI Operating Platform

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

RIAs in Indiana

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

Indiana is home to 117 wealth-focused RIAs managing $131B, 24th of 51 states and DC. The largest is Oxford Financial Group, LTD in Carmel, with $23B.

Wealth-focused RIAs
117
24th of 51
Their assets
$131B
26th of 51
$1B+ firms
23
Median $383M
All SEC RIAs
144
3,009 employees

Largest independent wealth managers in Indiana

Largest independent wealth managers headquartered in Indiana
#FirmHeadquartersRegulatory AUMIndividual clientsEmployees
1Oxford Financial Group, LTDSEC recordCarmel$23B589156
2Sapient Capital LLCSEC recordIndianapolis$14B98059
3Valeo Financial Advisors, LLCSEC recordCarmel$13B3,021178
4SYM Financial AdvisorsSEC recordWinona Lake$5.8B1,80184
5CX Institutional, LLCSEC recordAuburn$4.5B4,553130
6Creative Financial Designs, Inc.SEC recordKokomo$2.9B10,477170
7Bedel Financial Consulting IncSEC recordIndianapolis$2.9B1,16228
8Phillips FinancialSEC recordFort Wayne$2.6B88832
9Elser Financial Planning, Inc.SEC recordIndianapolis$2.1B57815
10Invst, LLCSEC recordIndianapolis$1.6B2,19365
11LJI Wealth Management, LLCSEC recordIndianapolis$1.4B1,49013
12Wealth Advisors GroupSEC recordFort Wayne$1.3B1,01316
13Wallington Asset ManagementSEC recordIndianapolis$1.3B30617
14Pettinga Financial Advisors, LLCSEC recordEvansville$1.3B66811
15DeerfieldSEC recordIndianapolis$1.2B31014

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 Indiana?

144 SEC-registered investment advisers have their main office in Indiana, and 117 of them are wealth-focused, managing at least half of their assets for individuals and high-net-worth clients. That ranks Indiana 24th 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 Indiana?

Oxford Financial Group, LTD, based in Carmel, is the largest independent wealth manager headquartered in Indiana, with $23B in regulatory assets under management and 589 individual clients on its latest Form ADV.

How much do Indiana RIAs manage?

Wealth-focused RIAs based in Indiana report $131B in regulatory assets under management, 26th among the states. 23 of them manage $1 billion or more; the median manages $383M.

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