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RIA comparison · SEC Form ADV

Pathstone 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

Pathstone is the larger of the two, with $110B in regulatory assets to $80B at Kestra Advisory Services, LLC, 38% more than its rival, by their latest Form ADV filings. Kestra Advisory Services, LLC reports more individual clients (115,285 vs 1,979), while Pathstone’s clients hold more on average (about $46 million each against $620,000). Pathstone is based in Englewood, New Jersey and Kestra Advisory Services, LLC in Austin, Texas.

FigurePathstoneKestra Advisory Services, LLC
Regulatory AUM$110B$80B
National rank#12#14
HeadquartersEnglewood, New JerseyAustin, Texas
Individual clients1,979115,285
High-net-worth clients1,83426,123
Average client assets$46 million$620,000
Accounts27,165192,439
Discretionary59% of AUM78% of AUM
Employees7041,359
Advisory staff3651,359
Clients per advisory employee585
Offices19545
Form ADV filed2026-03-312026-09-22

Pathstone

Full profile →

Services

  • Financial planning
  • Portfolio management for individuals and small businesses
  • Portfolio management for pooled investment vehicles
  • Portfolio management for businesses and institutions
  • Selecting other advisers
  • Educational seminars and workshops
  • Other services

How it’s paid

  • A percentage of assets under management
  • Hourly charges
  • Fixed fees
  • Performance-based fees

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, Pathstone or Kestra Advisory Services, LLC?

Pathstone, with $110B in regulatory assets under management against $80B at Kestra Advisory Services, LLC. Nationally they rank #12 and #14 among 5,657 independent wealth management RIAs.

How many clients do Pathstone and Kestra Advisory Services, LLC have?

Pathstone reports 1,979 individual clients (1,834 high-net-worth) with 365 advisory employees; Kestra Advisory Services, LLC reports 115,285 (26,123 high-net-worth) with 1,359 advisory employees.

How do Pathstone and Kestra Advisory Services, LLC charge clients?

Only Pathstone lists performance-based fees on Form ADV. Fee schedules and minimums are in each firm’s Form ADV Part 2A brochure.

What services do Pathstone and Kestra Advisory Services, LLC offer?

Pathstone lists portfolio management for pooled investment vehicles; educational seminars and workshops; other services, which Kestra Advisory Services, LLC does not. Kestra Advisory Services, LLC lists pension consulting, which Pathstone does not. Both offer financial planning; portfolio management for individuals and small businesses; portfolio management for businesses and institutions; 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: Pathstone ↗, Kestra Advisory Services, LLC ↗. How to check a financial advisor →