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Est. 2026The front page of wealth managementNew York

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RB An Amazon intern in 2020, Nevis CEO Mark Swan is the unlikely dream weaver for Focus Financial and other big RIA rollups with 'nightmare' integration issues -- with help from Schwab, Fidelity, OpenAI and AnthropicWM The Diamond Podcast for Financial Advisors: How Smart Money Evaluates Wealth Management FirmsWM Cerulli: $5B+ Fee-Only Independent RIAs Face 'Shrinking Footprint'FP Why fee-based models are the future of advisor compensationIN Inheritance conflict is the rule, not the exception, Wells Fargo findsIN Private equity leads public pension returns for 14th straight yearIN Medicare gaps leave retirees dangerously exposed to health care costsIN Taxable accounts surpass retirement savings as US households diversify portfoliosIN What a former RIA founder wants advisors to know about AIWM FINNY AI Partners with Visionary Square on Prospecting
Registered RIAs
17,210
Regulatory AUM
$177.9T
Use more than one custodian
4,024
Hybrid
3,733

Where their clients’ assets sit. Select a custodian to filter the list.

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517 firms manage $33.3 trillionNorthern Trust

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  1. 006
    Pacific Investment Management Company LLCNewport Beach, CA · 41,699 clientsAsset managerHybridPimco Canada Corp., Pimco Europe Gmbh
    BNY 44%State Street 28%Northern Trust 28%
    $3.7T
  2. 007
    J.P. Morgan Investment Management Inc.New York, NY · 128,965 clientsAsset managerHybridJ.P. Morgan Institutional Investments Inc., J.P. Morgan Securities LLC
    J.P. Morgan 31%State Street 25%BNY 23%
    $3.5T
  3. 010
    T. Rowe Price Associates, Inc.Baltimore, MD · 6,887 clientsAsset managerHybridT. Rowe Price Investment Services, Inc.
    State Street 58%Northern Trust 23%
    $2.2T
  4. 015
    Blackrock Financial Management, IncNew York, NY · 1,309 clientsAsset managerHybridBlackrock Asset Management Deutschland AG, Blackrock Execution Services
    BNY 32%
    $1.6T
  5. 016
    Wellington Management Company LLPBoston, MA · 1,559 clientsAsset managerHybridWellington Funds Distributors Inc.
    State Street 35%BNY 26%Northern Trust 23%
    $1.4T
  6. 019
    Northern Trust Investments, IncorporatedChicago, IL · 41,027 clientsAsset managerHybridNorthern Trust Securities LLP, Northern Trust Securities, Inc.
    Northern Trust 100%
    $1.2T
  7. 023
    Dimensional Fund Advisors LPAustin, TX · 2,311 clientsAsset managerHybridDFA Securities LLC, Dimensional Fund Advisors Canada ULC
    State Street 51%BNY 31%
    $1.0T
  8. 028
    Mellon Investments CorporationPittsburgh, PA · 3,942 clientsAsset managerHybridBNY Mellon Asset Management Canada Limited, BNY Mellon Capital Markets, LLC, clears through Pershing
    BNY 61%State Street 23%
    $874B
  9. 039
    Goldman Sachs Asset Management InternationalLondon, United Kingdom · 2,494 clientsPrivate fund adviserHybridFolio Investments, Inc., Goldman Sachs & Co. LLC
    J.P. Morgan 39%Northern Trust 32%
    $621B
  10. 046
    MFS Investment ManagementBoston, MA · 355 clientsAsset managerHybridMFS Fund Distributors, Inc., MFS International (hong Kong) Limited
    State Street 29%Brown Brothers Harriman & 25%
    $514B
  11. 050
    Jpmorgan Asset Management (UK) LimitedLondon, United Kingdom · 542 clientsPrivate fund adviserAffiliated broker-dealerJ.P. Morgan Securities LLC, J.P. Morgan Securities PLC
    J.P. Morgan 47%Northern Trust 27%State Street 26%
    $484B
  12. 051
    Allspring Global Investments, LLCCharlotte, NC · 10,401 clientsAsset managerHybridAllspring Funds Distributor, LLC
    Northern Trust 36%State Street 25%
    $476B
  13. 054
    Dodge & COXSAN Francisco, CA · 740 clientsAsset managerHybrid
    Northern Trust 43%BNY 36%
    $467B
  14. 055
    Ares Management LLCLOS Angeles, CA · 702 clientsPrivate fund adviserHybridAres Management Capital Markets LLC, Aspida Financial Distributors, LLC
    BNY 63%Citi 23%
    $459B
  15. 062
    Neuberger Berman Investment Advisers LLCNew York, NY · 43,954 clientsAsset managerHybridNeuberger Berman BD LLC
    Fidelity 50%
    $399B
  16. 066
    Loomis, Sayles & Company, L.P.Boston, MA · 24,675 clientsAsset managerHybridLoomis Sayles Distributors, L.P., Natixis Distribution, LLC
    BNY 42%Northern Trust 34%State Street 24%
    $387B
  17. 069
    Dimensional Fund Advisors LTDLondon, United Kingdom · 100 clientsAsset managerHybridDFA Securities LLC, Dimensional Fund Advisors Canada ULC
    State Street 46%BNY 39%
    $365B
  18. 070
    DFA Australia LimitedSydney, Australia · 100 clientsAsset managerAffiliated broker-dealerDFA Securities LLC, Dimensional Fund Advisors Canada ULC
    State Street 46%BNY 39%
    $362B
  19. 071
    Arrowstreet Capital, Limited PartnershipBoston, MA · 162 clientsPrivate fund adviser
    State Street 49%Northern Trust 26%
    $351B
  20. 072
    Fiam LLCSmithfield, RI · 596 clientsAsset managerHybridDigital Brokerage Services LLC, Fidelity Brokerage Services LLC, clears through National Financial Services (Fidelity)
    Brown Brothers Harriman & 39%
    $348B
  21. 075
    Nisa Investment Advisors, LLCSt. Louis, MO · 440 clientsAsset manager
    Northern Trust 32%BNY 28%State Street 26%
    $344B
  22. 085
    American Century Investment Management IncKansas City, MO · 716 clientsAsset managerHybridAmerican Century Investment Services, Inc.
    State Street 52%
    $306B
  23. 090
    Victory Capital Management Inc.SAN Antonio, TX · 18,120 clientsAsset managerHybridVictory Capital Services, Inc., clears through Pershing
    BNY 57%State Street 24%
    $283B
  24. 098
    L&g - Asset Management, AmericaChicago, IL · 195 clientsAsset manager
    Citi 73%
    $267B
  25. 111
    Manulife Investment Management (US) LLCBoston, MA · 4,861 clientsAsset managerHybridJohn Hancock Distributors LLC, John Hancock Investment Management Distributors LLC
    State Street 66%
    $228B
  26. 113
    Mercer Investments LLCBoston, MA · 1,407 clientsAsset managerHybridMMA Securities LLC, MMC Securities LLC, clears through Pershing
    Northern Trust 57%Fidelity 43%
    $226B
  27. 118
    Jennison AssociatesNew York, NY · 6,083 clientsAsset managerHybridPrudential Investment Management Services LLC
    BNY 38%Northern Trust 33%State Street 28%
    $215B
  28. 125
    Northern Trust Global Investments LTDLondon, United Kingdom · 76 clientsPrivate fund adviserAffiliated broker-dealerNorthern Trust Securities LLP, Northern Trust Securities, Inc.
    Northern Trust 37%BNY 32%
    $208B
  29. 129
    T.rowe Price Investment Management, Inc.Baltimore, MD · 64 clientsAsset managerAffiliated broker-dealerT. Rowe Price Investment Services, Inc.
    Northern Trust 48%
    $204B
  30. 132
    DWS Investment Management Americas, Inc.New York, NY · 159 clientsAsset managerHybridDWS Distributors, Inc., Deutsche Bank AG
    J.P. Morgan 52%BNY 29%
    $200B
  31. 138
    Harbourvest Partners, LLCBoston, MA · 316 clientsPrivate fund adviserHybrid
    Northern Trust 100%
    $191B
  32. 139
    Invesco Asset Management LTD.Henley-On-Thames, United Kingdom · 206 clientsPrivate fund adviserAffiliated broker-dealerInvesco Capital Markets, Inc., Invesco Distributors, Inc.
    Northern Trust 30%HSBC Bank PLC 23%
    $188B
  33. 140
    Macquarie Investment Management Global LimitedSydney, Australia · 223 clientsAsset managerAffiliated broker-dealerMacquarie Asset Management Japan Co., LTD., Macquarie Bank Limited
    State Street 71%
    $187B
  34. 144
    Artisan Partners Limited PartnershipMilwaukee, WI · 249 clientsAsset managerHybridApel Financial Distribution Services LTD, Artisan Partners Distributors LLC
    BNY 56%Northern Trust 24%
    $184B
  35. 150
    GC Advisors LLCChicago, IL · 144 clientsPrivate fund adviserHybrid
    BNY 56%
    $178B
  36. 152
    Acadian Asset ManagementBoston, MA · 350 clientsAsset managerHybrid
    State Street 32%BNY 22%
    $177B
  37. 158
    Insight InvestmentNew York, NY · 1,876 clientsAsset managerHybridBNY Mellon Asset Management Canada Limited, BNY Mellon Capital Markets, LLC, clears through Pershing
    BNY 69%Northern Trust 31%
    $171B
  38. 165
    GQG PartnersFort Lauderdale, FL · 6,445 clientsAsset managerHybrid
    J.P. Morgan 36%Northern Trust 30%State Street 23%
    $164B
  39. 171
    Mackay Shields LLCNew York, NY · 354 clientsAsset managerHybridNylife Distributors LLC, Nylife Securities LLC, clears through National Financial Services (Fidelity)
    BNY 66%
    $160B
  40. 173
    Payden & RygelLOS Angeles, CA · 482 clientsAsset managerHybridPayden & Rygel Distributors
    BNY 38%State Street 29%
    $158B

RIAs by state