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

RIAs in Pennsylvania

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

Pennsylvania is home to 364 wealth-focused RIAs managing $1.56T, 5th of 51 states and DC. The largest is Vanguard Advisers, Inc. in Malvern, with $345B.

Wealth-focused RIAs
364
5th of 51
Their assets
$1.56T
5th of 51
$1B+ firms
98
Median $423M
All SEC RIAs
555
28,188 employees

Largest independent wealth managers in Pennsylvania

Largest independent wealth managers headquartered in Pennsylvania
#FirmHeadquartersRegulatory AUMIndividual clientsEmployees
1Vanguard Advisers, Inc.SEC recordMalvern$345B791,4952,208
2Mycio Wealth Partners, LLCSEC recordPhiladelphia$16B92367
3Great Valley Advisor Group, LLCSEC recordBerwyn$11B36,836325
4Callan Family Office, LLCSEC recordRadnor$10B17049
5Wealthcare Advisory Partners LLCSEC recordWest Chester$8.3B10,696243
6Confluence Financial PartnersSEC recordMcMurray$7.8B5,14871
7Hbks Wealth AdvisorsSEC recordErie$7.7B7,344109
8Miller Investment Management, LPSEC recordWest Conshohocken$7.1B15518
9Prowell Financial Management, LLCSEC recordExton$6.9B574
10Greycourt & Co., Inc.SEC recordPittsburgh$6.6B3637
11PitcairnSEC recordConshohocken$5.9B33062
12Waldron Private WealthSEC recordBridgeville$5.5B51770
13Legacy Advisors, LLCSEC recordPlymouth Meeting$5.2B30650
14JFS Wealth Advisors, LLCSEC recordHermitage$4.7B2,21689
15Wharton Business Group, LLCSEC recordMalvern$4.6B1005

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 Pennsylvania?

555 SEC-registered investment advisers have their main office in Pennsylvania, and 364 of them are wealth-focused, managing at least half of their assets for individuals and high-net-worth clients. That ranks Pennsylvania 5th 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 Pennsylvania?

Vanguard Advisers, Inc., based in Malvern, is the largest independent wealth manager headquartered in Pennsylvania, with $345B in regulatory assets under management and 791,495 individual clients on its latest Form ADV.

How much do Pennsylvania RIAs manage?

Wealth-focused RIAs based in Pennsylvania report $1.56T in regulatory assets under management, 5th among the states. 98 of them manage $1 billion or more; the median manages $423M.

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