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RIA comparison · SEC Form ADV

Summit Trail Advisors, LLC vs RWA Wealth Partners

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

The short answer

Summit Trail Advisors, LLC and RWA Wealth Partners are almost exactly the same size, with $20B and $20B in regulatory assets (Summit Trail Advisors, LLC slightly ahead), by their latest Form ADV filings. RWA Wealth Partners reports more individual clients (5,951 vs 639), while Summit Trail Advisors, LLC’s clients hold more on average (about $26 million each against $3.1 million). Summit Trail Advisors, LLC is based in New York, New York and RWA Wealth Partners in Boston, Massachusetts.

FigureSummit Trail Advisors, LLCRWA Wealth Partners
Regulatory AUM$20B$20B
National rank#48#49
HeadquartersNew York, New YorkBoston, Massachusetts
Individual clients6395,951
High-net-worth clients5883,545
Average client assets$26 million$3.1 million
Accounts9,77819,649
Discretionary55% of AUM98% of AUM
Employees94178
Advisory staff3163
Clients per advisory employee2194
Offices176
Form ADV filed2026-09-042026-05-27

Summit Trail Advisors, LLC

Full profile →

Services

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

How it’s paid

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

RWA Wealth Partners

Full profile →

Services

  • Financial planning
  • Portfolio management for individuals and small businesses
  • Other services

How it’s paid

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

Questions

Which is bigger, Summit Trail Advisors, LLC or RWA Wealth Partners?

Summit Trail Advisors, LLC, with $20B in regulatory assets under management against $20B at RWA Wealth Partners. Nationally they rank #48 and #49 among 5,657 independent wealth management RIAs.

How many clients do Summit Trail Advisors, LLC and RWA Wealth Partners have?

Summit Trail Advisors, LLC reports 639 individual clients (588 high-net-worth) with 31 advisory employees; RWA Wealth Partners reports 5,951 (3,545 high-net-worth) with 63 advisory employees.

How do Summit Trail Advisors, LLC and RWA Wealth Partners charge clients?

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

What services do Summit Trail Advisors, LLC and RWA Wealth Partners offer?

Summit Trail Advisors, LLC lists portfolio management for businesses and institutions; pension consulting; selecting other advisers, which RWA Wealth Partners does not. Both offer financial planning; portfolio management for individuals and small businesses; 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: Summit Trail Advisors, LLC ↗, RWA Wealth Partners ↗. How to check a financial advisor →