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

RIAs in Iowa

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

Iowa is home to 78 wealth-focused RIAs managing $236B, 28th of 51 states and DC. The largest is Avantax Planning Partners, Inc. in Dubuque, with $7.6B.

Wealth-focused RIAs
78
28th of 51
Their assets
$236B
18th of 51
$1B+ firms
15
Median $335M
All SEC RIAs
89
10,628 employees

Largest independent wealth managers in Iowa

Largest independent wealth managers headquartered in Iowa
#FirmHeadquartersRegulatory AUMIndividual clientsEmployees
1Avantax Planning Partners, Inc.SEC recordDubuque$7.6B7,515261
2Foster Group, Inc.SEC recordWest DES Moines$4.8B1,95693
3BFC Planning, Inc.SEC recordCedar Rapids$3.8B11,327200
4Steele Capital Management, Inc.SEC recordDubuque$3.5B1,52115
5Accel Wealth ManagementSEC recordWaverly$1.1B1,29019
6Northwest Wealth Management, LLCSEC recordSpencer$1.0B2,08526
7Legacy Financial GroupSEC recordDES Moines$1.0B1,45018
8Syverson StregeSEC recordWest DES Moines$911M52315
9Dmkc Advisory Services, LLCSEC recordDES Moines$903M47313
10RDA Financial NetworkSEC recordAkron$675M1,51417
11West Financial Advisors, L.L.C.SEC recordDES Moines$674M3058
12Independent Wealth Network, Inc.SEC recordUrbandale$518M1,44537
13Wealthspan Partners, LLCSEC recordDavenport$451M5266
14Nikulski Financial, Inc.SEC recordBettendorf$449M46810
15Quad-Cities Investment Group, LLCSEC recordDavenport$426M5938

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 Iowa?

89 SEC-registered investment advisers have their main office in Iowa, and 78 of them are wealth-focused, managing at least half of their assets for individuals and high-net-worth clients. That ranks Iowa 28th 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 Iowa?

Avantax Planning Partners, Inc., based in Dubuque, is the largest independent wealth manager headquartered in Iowa, with $7.6B in regulatory assets under management and 7,515 individual clients on its latest Form ADV.

How much do Iowa RIAs manage?

Wealth-focused RIAs based in Iowa report $236B in regulatory assets under management, 18th among the states. 15 of them manage $1 billion or more; the median manages $335M.

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