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

RIAs in Rhode Island

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

Rhode Island is home to 41 wealth-focused RIAs managing $36B, 38th of 51 states and DC. The largest is Parsons Capital Management Inc in Providence, with $2.4B.

Wealth-focused RIAs
41
38th of 51
Their assets
$36B
37th of 51
$1B+ firms
7
Median $394M
All SEC RIAs
49
1,187 employees

Largest independent wealth managers in Rhode Island

Largest independent wealth managers headquartered in Rhode Island
#FirmHeadquartersRegulatory AUMIndividual clientsEmployees
1Parsons Capital Management IncSEC recordProvidence$2.4B69522
2Young Richard C & Co LTDSEC recordNewport$1.8B79814
3Capital Wealth Management, LLCSEC recordWest Warwick$1.1B60316
4Strategicpoint Investment Advisors LLCSEC recordProvidence$915M70612
5Newman Dignan & Sheerar, IncSEC recordProvidence$731M5189
6SK Wealth Management, LLCSEC recordProvidence$639M3196
7Mystic Asset ManagementSEC recordWarwick$615M1313
8Sowa Financial GroupSEC recordLincoln$517M5728
9Lincoln Capital CorporationSEC recordEast Greenwich$418M2656
10Hall Capital Management Company, Inc.SEC recordBarrington$412M5199
11Wealth Management Resources, Inc.SEC recordSmithfield$385M5909
12Axis Wealth Partners, LLCSEC recordEast Providence$377M7819
13Financial Independence, LLCSEC recordWarwick$288M2787
14First Financial Advisory Services IncSEC recordWesterly$278M5167
15Forbes Financial Planning, Inc.SEC recordEast Greenwich$241M8713

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 Rhode Island?

49 SEC-registered investment advisers have their main office in Rhode Island, and 41 of them are wealth-focused, managing at least half of their assets for individuals and high-net-worth clients. That ranks Rhode Island 38th 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 Rhode Island?

Parsons Capital Management Inc, based in Providence, is the largest independent wealth manager headquartered in Rhode Island, with $2.4B in regulatory assets under management and 695 individual clients on its latest Form ADV.

How much do Rhode Island RIAs manage?

Wealth-focused RIAs based in Rhode Island report $36B in regulatory assets under management, 37th among the states. 7 of them manage $1 billion or more; the median manages $394M.

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.

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