Wealth manager, independent · Morristown, NJ
Private Advisor Group, LLC
SEC-registered investment adviser · CRD 155216 · SEC 801-72060
At a glance
Private Advisor Group, LLC is an SEC-registered investment adviser based in Morristown, New Jersey, with $58B in regulatory assets under management as of its Form ADV filed September 30, 2026. It reports 166,623 individual clients, 27,742 of them high-net-worth, holding an average of about $0.3 million each, and 930 employees. That ranks it 17th among the nation’s 5,657 independent wealth management RIAs and 2nd of 157 in New Jersey. It reports 2 custodians for its clients’ separately managed accounts: LPL Financial and Fidelity.
Up $13B from $44B in its previous filing; rank 25 → 17. This month’s movers →
Main office 973-538-7010privateadvisorgroup.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $58B
- Rank among independent wealth managers
- #17 of 5,657
- Rank among all SEC RIAs
- #391 of 17,210
- Rank in New Jersey
- #2 of 157
- Individual clients
- 166,623
- High-net-worth clients
- 27,742
- Accounts
- 170,206
- Discretionary
- 100% of AUM
- Employees
- 930
- Advisory staff
- 885
- Offices
- 570
Owners and executives on its Form ADV
- John P. HylandExecutive Chair
- Patrick J. SullivanExecutive Chair
- James D. SullivanManaging Director
- James J PerhacsManaging Director, Chief Operating Officer
- James A. HooksChief Compliance Officer, Managing Director
- Franklin R SmithChief Executive Officer
- Robert J. MooreExecutive Chair
- Adam J SchorrChief Financial Officer
Custody and brokerage
Broker-dealer
Hybrid RIA
Private Advisor Group, LLC is a hybrid RIA: 751 of its employees are also registered representatives of a broker-dealer. It names an affiliated broker-dealer: PAG Financial, LLC.
- PAG Financial, LLC ↗CRD 307279
An introducing broker-dealer: its trades clear through LPL Financial, which holds the brokerage accounts. Its annual audited report filed with the SEC, March 2026
Its Form ADV brochure (filed September 2026) names LPL Financial as the broker-dealer its advisers are registered with.
The majority of PAG’s IARs are also registered representatives of LPL (“Dually Registered Persons ”).
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| High-net-worth individuals | 27,742 | $30B | 51% |
| Individuals | 138,881 | $25B | 44% |
| Corporations or other businesses | 708 | $972M | 2% |
| Pension and profit sharing plans | 2,155 | $829M | 1% |
| Charitable organizations | 643 | $440M | <1% |
| State or municipal government entities | 69 | $433M | <1% |
| Insurance companies | 8 | $8M | <1% |
Disciplinary disclosures
Private Advisor Group, LLC answers yes to 8 disclosure items in Item 11 of Form ADV (criminal, regulatory or civil matters involving the firm or its advisory affiliates). Read the details on the SEC’s adviser search ↗
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
Form ADV and brochures on the SEC’s adviser search ↗privateadvisorgroup.com ↗
AtlasMembers
The full record on Private Advisor Group, LLC
Ten years of SEC filings, its owners and contacts, and how it stacks up against its peers. Atlas members see all of it.
- Assets, accounts, clients and staff, ten years of filings
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- Growth over one, three and five years
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- Rank against 77 peers of its type and size
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- Owners and executives, with titles and stakes
- 8 namedLocked
- Main office, fax and compliance officer
- Locked
- Filing changes this year, with alerts
- 7Locked
Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.
Similar-size RIAs in New Jersey
All of New Jersey →| Firm | Regulatory AUM | Clients |
|---|---|---|
| PathstoneEnglewood | $110B | 1,979 |
| Modera Wealth Management, LLCWestwood | $18B | 5,918 |
| Circle Wealth Management, LLCSummit | $14B | 349 |
| Advisors Capital Management, LLCRidgewood | $12B | 17,842 |
| Simon Quick Advisors, LLCMorristown | $9.0B | 994 |
| SAX Wealth Advisors, LLCParsippany | $3.6B | 1,596 |
Compare Private Advisor Group, LLC with
- Private Advisor Group, LLC vs Pathstone $110B · Englewood, NJ
- Private Advisor Group, LLC vs Cresset Asset Management, LLC $79B · Chicago, IL
- Private Advisor Group, LLC vs CIBC Private Wealth Advisors, Inc. $68B · Chicago, IL
- Private Advisor Group, LLC vs IEQ Capital, LLC $57B · Foster City, CA
- Private Advisor Group, LLC vs Savant Wealth Management $56B · Rockford, IL
Background
Questions
How much does Private Advisor Group, LLC manage?
Private Advisor Group, LLC reports $58B in regulatory assets under management across 170,206 accounts, 100% of it on a discretionary basis, on its Form ADV filed September 30, 2026.
How many clients does Private Advisor Group, LLC have?
It reports 166,623 individual clients: 27,742 high-net-worth individuals and 138,881 other individuals. Individuals account for about 95% of its regulatory assets.
Where is Private Advisor Group, LLC headquartered?
Its main office is in Morristown, New Jersey. It reports 570 offices in total and 930 employees, 885 of whom perform investment advisory functions.
How does Private Advisor Group, LLC charge clients?
On Form ADV it lists these forms of compensation: a percentage of assets under management; hourly charges; fixed fees; other. Fees and minimums are set out in its Form ADV Part 2A brochure, available on the SEC’s adviser search.
What custodian does Private Advisor Group, LLC use?
It reports 2 custodians for its clients’ separately managed accounts: LPL Financial and Fidelity. On Schedule D of its Form ADV filed September 30, 2026, it reports these amounts held: LPL Financial ($36B); Fidelity ($4.7B). Form ADV lists only custodians holding 10% or more of separately managed account assets.
Is Private Advisor Group, LLC a hybrid RIA with a broker-dealer?
Private Advisor Group, LLC is a hybrid RIA: 751 of its employees are also registered representatives of a broker-dealer. It names an affiliated broker-dealer: PAG Financial, LLC. PAG Financial, LLC clears through LPL Financial, according to its annual report filed with the SEC. Those representatives can also earn commissions on brokerage business through the broker-dealer, where different rules apply than for advisory accounts.
Is Private Advisor Group, LLC a fiduciary?
As an SEC-registered investment adviser, Private Advisor Group, LLC owes its advisory clients a fiduciary duty under the Investment Advisers Act of 1940, which includes duties of care and loyalty. 751 of its employees are also registered representatives of a broker-dealer, where different rules apply to brokerage recommendations.
Where these numbers come from
Every figure is Private Advisor Group, LLC’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). Custodians come from Schedule D 5.K(3) of its latest filing (2026-09-30), which lists those holding 10% or more of separately managed account assets and the amount at each. “Hybrid” means some employees are also registered representatives of a broker-dealer (Item 5.B(2)); affiliated broker-dealers are the related persons it lists in Item 7.A and Schedule D. Firm type comes from its own answers: broker-dealer firms are registered broker-dealers themselves (Item 6.A); private fund advisers manage mostly private funds (Item 7.B, 5.D); wealth managers manage at least half their assets for individuals (5.D). Its national rank compares it with every US-based independent wealth management RIA, the same field as The Largest RIAs. Figures are as of the firm’s last annual update, so they can lag recent deals and market moves. Regulatory AUM counts assets the firm continuously supervises and can differ from what a firm markets.
Not an endorsement or a recommendation. Before hiring any adviser, read its Form ADV Part 2A brochure and check its record on the SEC’s adviser search. How to check a financial advisor →