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RIA comparison · SEC Form ADV

Mercer Global Advisors Inc. vs Kestra Advisory Services, LLC

Two independent wealth managers side by side: assets, clients, staff, services and fees, from each firm’s own filing.

The short answer

Mercer Global Advisors Inc. is the larger of the two, with $84B in regulatory assets to $80B at Kestra Advisory Services, LLC, 6% more than its rival, by their latest Form ADV filings. Kestra Advisory Services, LLC reports more individual clients (115,285 vs 35,044), while Mercer Global Advisors Inc’s clients hold more on average (about $2.2 million each against $620,000). Mercer Global Advisors Inc. is based in Denver, Colorado and Kestra Advisory Services, LLC in Austin, Texas.

FigureMercer Global Advisors Inc.Kestra Advisory Services, LLC
Regulatory AUM$84B$80B
National rank#13#14
HeadquartersDenver, ColoradoAustin, Texas
Individual clients35,044115,285
High-net-worth clients18,39826,123
Average client assets$2.2 million$620,000
Accounts116,310192,439
Discretionary98% of AUM78% of AUM
Employees1,4291,359
Advisory staff6321,359
Clients per advisory employee5585
Offices269545
Form ADV filed2026-09-172026-09-22

Mercer Global Advisors Inc.

Full profile →

Services

  • Financial planning
  • Portfolio management for individuals and small businesses
  • Portfolio management for businesses and institutions
  • Pension consulting
  • Selecting other advisers
  • Periodicals or newsletters
  • Educational seminars and workshops
  • Other services

How it’s paid

  • A percentage of assets under management
  • Hourly charges
  • Fixed fees
  • Other

Kestra Advisory Services, LLC

Full profile →

Services

  • Financial planning
  • Portfolio management for individuals and small businesses
  • Portfolio management for businesses and institutions
  • Pension consulting
  • Selecting other advisers

How it’s paid

  • A percentage of assets under management
  • Hourly charges
  • Fixed fees

Questions

Which is bigger, Mercer Global Advisors Inc. or Kestra Advisory Services, LLC?

Mercer Global Advisors Inc., with $84B in regulatory assets under management against $80B at Kestra Advisory Services, LLC. Nationally they rank #13 and #14 among 5,657 independent wealth management RIAs.

How many clients do Mercer Global Advisors Inc. and Kestra Advisory Services, LLC have?

Mercer Global Advisors Inc. reports 35,044 individual clients (18,398 high-net-worth) with 632 advisory employees; Kestra Advisory Services, LLC reports 115,285 (26,123 high-net-worth) with 1,359 advisory employees.

How do Mercer Global Advisors Inc. and Kestra Advisory Services, LLC charge clients?

Only Mercer Global Advisors Inc. lists other forms of compensation on Form ADV. Fee schedules and minimums are in each firm’s Form ADV Part 2A brochure.

What services do Mercer Global Advisors Inc. and Kestra Advisory Services, LLC offer?

Mercer Global Advisors Inc. lists periodicals or newsletters; educational seminars and workshops; other services, which Kestra Advisory Services, LLC does not. Both offer financial planning; portfolio management for individuals and small businesses; portfolio management for businesses and institutions; pension consulting; selecting other advisers.

More comparisons

Where these numbers come from

Every figure is the firm’s own answer on its latest Form ADV, from the SEC’s registered-adviser list as of October 1, 2026: regulatory assets and accounts (Item 5.F), clients by type (5.D), employees (5.A and 5.B), compensation (5.E) and services (5.G). Average client assets divide the assets held for individual and high-net-worth clients by their number. Ranks compare each firm with all US-based independent wealth management RIAs, the same field as The Largest RIAs. Figures can lag recent deals and market moves.

Not an endorsement or a recommendation of either firm. Before hiring an adviser, read its Form ADV Part 2A brochure and check its record on the SEC’s adviser search: Mercer Global Advisors Inc. ↗, Kestra Advisory Services, LLC ↗. How to check a financial advisor →