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RIA comparison · SEC Form ADV

Pathstone vs Private Advisor Group, 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 $58B at Private Advisor Group, LLC, 91% more than its rival, by their latest Form ADV filings. Private Advisor Group, LLC reports more individual clients (166,623 vs 1,979), while Pathstone’s clients hold more on average (about $46 million each against $330,000). Both are based in New Jersey: Pathstone in Englewood and Private Advisor Group, LLC in Morristown.

FigurePathstonePrivate Advisor Group, LLC
Regulatory AUM$110B$58B
National rank#12#17
HeadquartersEnglewood, New JerseyMorristown, New Jersey
Individual clients1,979166,623
High-net-worth clients1,83427,742
Average client assets$46 million$330,000
Accounts27,165170,206
Discretionary59% of AUM100% of AUM
Employees704930
Advisory staff365885
Clients per advisory employee5188
Offices19570
Form ADV filed2026-03-312026-09-30

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

Private Advisor Group, LLC

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

Questions

Which is bigger, Pathstone or Private Advisor Group, LLC?

Pathstone, with $110B in regulatory assets under management against $58B at Private Advisor Group, LLC. Nationally they rank #12 and #17 among 5,657 independent wealth management RIAs.

How many clients do Pathstone and Private Advisor Group, LLC have?

Pathstone reports 1,979 individual clients (1,834 high-net-worth) with 365 advisory employees; Private Advisor Group, LLC reports 166,623 (27,742 high-net-worth) with 885 advisory employees.

How do Pathstone and Private Advisor Group, LLC charge clients?

Only Pathstone lists performance-based fees on Form ADV. Only Private Advisor Group, LLC lists other forms of compensation. Fee schedules and minimums are in each firm’s Form ADV Part 2A brochure.

What services do Pathstone and Private Advisor Group, LLC offer?

Pathstone lists portfolio management for pooled investment vehicles, which Private Advisor Group, LLC does not. Private Advisor Group, LLC lists pension consulting; periodicals or newsletters, which Pathstone does not. Both offer financial planning; portfolio management for individuals and small businesses; portfolio management for businesses and institutions; selecting other advisers; educational seminars and workshops; other services.

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 ↗, Private Advisor Group, LLC ↗. How to check a financial advisor →