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

RIAs in Virginia

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

Virginia is home to 206 wealth-focused RIAs managing $187B, 13th of 51 states and DC. The largest is Cary Street Partners in Richmond, with $10B.

Wealth-focused RIAs
206
13th of 51
Their assets
$187B
22nd of 51
$1B+ firms
42
Median $377M
All SEC RIAs
297
7,451 employees

Largest independent wealth managers in Virginia

Largest independent wealth managers headquartered in Virginia
#FirmHeadquartersRegulatory AUMIndividual clientsEmployees
1Cary Street PartnersSEC recordRichmond$10B6,641182
2Cassaday & Company, Inc.SEC recordMcLean$7.1B3,14297
3AndersenSEC recordMcLean$6.3B5502,061
4Heritage Wealth AdvisorsSEC recordRichmond$4.9B38436
5The Ascent Group, LLCSEC recordVirginia Beach$4.8B4,17744
6Spire Wealth Management, LLCSEC recordMcLean$4.5B6,151145
7Wealthcare Capital Management LLCSEC recordRichmond$3.9B5,63854
8The Burney CompanySEC recordReston$3.6B1,88046
9Bogart Wealth, LLCSEC recordMcLean$3.2B1,44250
10West Financial Services, Inc.SEC recordMcLean$2.8B94039
11Rembert Pendleton JacksonSEC recordVienna$2.7B1,43420
12Glassman Wealth Services, LLCSEC recordVienna$2.6B35921
13Financial Security Advisory IncSEC recordVirginia Beach$1.9B3,09937
14Kanawha Capital Management, LLCSEC recordRichmond$1.8B56011
15Azzad Asset Management, Inc.SEC recordFalls Church$1.8B1,49418

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 Virginia?

297 SEC-registered investment advisers have their main office in Virginia, and 206 of them are wealth-focused, managing at least half of their assets for individuals and high-net-worth clients. That ranks Virginia 13th 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 Virginia?

Cary Street Partners, based in Richmond, is the largest independent wealth manager headquartered in Virginia, with $10B in regulatory assets under management and 6,641 individual clients on its latest Form ADV.

How much do Virginia RIAs manage?

Wealth-focused RIAs based in Virginia report $187B in regulatory assets under management, 22nd among the states. 42 of them manage $1 billion or more; the median manages $377M.

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