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Inside the Top 50 Fee-Only RIA Firms

Top 50 Fee-Only RIA Firms Top 50 Fee-Only RIA Firms

Here are Financial Planning Magazine's top 50 fee-only RIA firms for 2012.


In FP's annual listing of the top RIAs, we track the top 50 fee-only firms by assets under management. We left off firms with B-D affiliations or large stakes held by banks or other outside institutions, given the conflicts these arrangements often present.

50. R.M. Davis 50. R.M. Davis

Location: Portland, Maine


AUM (billions): $2.137


Accounts: 3,412


Employees: 35


Investment Advisors: 11-50


Custodian/ Clearing Firm: Schwab


Website: rmdavis.com

49. Mill Creek Capital Advisors 49. Mill Creek Capital Advisors

Location: Conshohocken, Pa.


AUM (billions): $2.251


Accounts: 174


Employees: 15


Investment Advisors: 11-50


Custodian/ Clearing Firm: N/A


Website: millcreekcap.com

48. Karpus Investment Management 48. Karpus Investment Management

Location: Pittsford, N.Y.


AUM (billions): $2.255


Accounts: 1,967


Employees: 35


Investment Advisors: 11-50


Custodian/ Clearing Firm: N/A


Website: karpus.com

47. Douglas C. Lane & Associates 47. Douglas C. Lane & Associates

Location: New York


AUM (billions): $2.256


Accounts: 3,224


Employees: 31


Investment Advisors: 6-10


Custodian/ Clearing Firm: Schwab, Fidelity


Website: dclainc.com

46. Homrich Berg 46. Homrich Berg

Location: Atlanta


AUM (billions): $2.267


Accounts: 3,523


Employees: 53


Investment Advisors: 11-50


Custodian/ Clearing Firm: Schwab, TD Ameritrade, Fidelity


Website: homrichberg.com

45. Atherton Lane Advisers 45. Atherton Lane Advisers

Location: Menlo Park, Calif.


AUM (billions): $2.290


Accounts: 691


Employees: 33


Investment Advisors: 11-50


Custodian/ Clearing Firm: Schwab


Website: athertonlane.com

44. Evanson Asset Managment 44. Evanson Asset Managment

Location: Carmel, Calif.


AUM (billions): $2.327


Accounts: 3,373


Employees: 4


Investment Advisors: 1-5


Custodian/ Clearing Firm: Schwab, Vanguard, Fidelity, Aegon, TD Ameritrade


Website: evansonasset.com

43. Silver Bridge 43. Silver Bridge

Location: Boston


AUM (billions): $2.340


Accounts: 1,984


Employees: 47


Investment Advisors: 11-50


Custodian/ Clearing Firm: N/A


Website: silverbridgeadv.com

42. Northeast Financial Consultants 42. Northeast Financial Consultants

Location: Westport, Conn.


AUM (billions): $2.351


Accounts: 1,535


Employees: 4


Investment Advisors: 1-5


Custodian/ Clearing Firm: Fidelity, Commonwealth Financial Network, Schwab


Website: None

41. RegentAtlantic Capital 41. RegentAtlantic Capital

Location: Morristown, N.J.


AUM (billions): $2.370


Accounts: 5,147


Employees: 32


Investment Advisors: 11-50


Custodian/ Clearing Firm: Schwab, Fidelity, TD Ameritrade


Website: regentatlantic.com

40. Tolleson Private Wealth Management 40. Tolleson Private Wealth Management

Location: Dallas


AUM (billions): $2.411


Accounts: 2,220


Employees: 40


Investment Advisors: 11-50


Custodian/ Clearing Firm: Pershing, Schwab


Website: tollesonwealth.com

39. KCM Investment Advisors 39. KCM Investment Advisors

Location: San Rafael, Calif


AUM (billions): $2.447


Accounts: 1,829


Employees: 10


Investment Advisors: 6-10


Custodian/ Clearing Firm: Schwab, TD Ameritrade


Website: kcmadvisors.com

38. Alaska Permanent Capital Management 38. Alaska Permanent Capital Management

Location: Anchorage, Alaska


AUM (billions): $2.463


Accounts: 346


Employees: 13


Investment Advisors: 6-10


Custodian/ Clearing Firm: Schwab


Website: apcm.net

37. Cornerstone Advisors 37. Cornerstone Advisors

Location: Bellevue, Wash.


AUM (billions): $2.500


Accounts: 1,967


Employees: 50-500


Investment Advisors: 11-50


Custodian/ Clearing Firm: Schwab


Website: buildbeyond.com

36. Washington Capital Management 36. Washington Capital Management

Location: Seattle


AUM (billions): $2.510


Accounts: 182


Employees: 48


Investment Advisors: 11-50


Custodian/ Clearing Firm: N/A


Website: wcmadvisors.com

35. CCM Investment Advisers 35. CCM Investment Advisers

Location: Columbia, S.C.


AUM (billions): $2.544


Accounts: 698


Employees: 15


Investment Advisors: 6-10


Custodian/ Clearing Firm: N/A


Website: ccminc.com

34. Geneva Capital Management 34. Geneva Capital Management

Location: Milwaukee


AUM (billions): $2.609


Accounts: 561


Employees: 21


Investment Advisors: 6-10


Custodian/ Clearing Firm: Schwab


Website: genevacapitalmanagement.com

33. BPS Capital Management 33. BPS Capital Management

Location: Bloomington, Minn.


AUM (billions): $2.650


Accounts: 73


Employees: 8


Investment Advisors: 1-5


Custodian/ Clearing Firm: N/A


Website: bpscapital.com

32. Savant Capital Management 32. Savant Capital Management

Location: Rockford, Ill.


AUM (billions): $2.651


Accounts: 2,754


Employees: 86


Investment Advisors: 11-50


Custodian/ Clearing Firm: TD Ameritrade, Schwab, Fidelity, Vanguard


Website: savantcapital.com

31. Strategic Investment Counsel 31. Strategic Investment Counsel

Location: Dallas


AUM (billions): $2.722


Accounts: 47


Employees: 4


Investment Advisors: 1-5


Custodian/ Clearing Firm: TD Ameritrade


Website: strinco.com

30. NEPC 30. NEPC

Location: Cambridge, Mass


AUM (billions): $2.750


Accounts: 6


Employees: 188


Investment Advisors: 51-250


Custodian/ Clearing Firm: N/A


Website: nepc.com

29. Gofen and Glossberg 29. Gofen and Glossberg

Location: Chicago


AUM (billions): $2.774


Accounts: 2.675


Employees: 27


Investment Advisors: 11-50


Custodian/ Clearing Firm: Schwab


Website: gofen.com

28. ICG Advisors 28. ICG Advisors

Location: Los Angeles


AUM (billions): $2.817


Accounts: 62


Employees: 18


Investment Advisors: 11-50


Custodian/ Clearing Firm: N/A


Website: icgadvisors.com

27. Seven Post Private Investment Office 27. Seven Post Private Investment Office

Location: San Francisco


AUM (billions): $2.818


Accounts: 394


Employees: 10


Investment Advisors: 6-10


Custodian/ Clearing Firm: N/A


Website: sevenpost.com

26. Altair Advisors 26. Altair Advisors

Location: Chicago


AUM (billions): $2.834


Accounts: 382


Employees: 32


Investment Advisors: 11-50


Custodian/ Clearing Firm: Schwab


Website: altairadvisers.com

25. Bartlett & Co. 25. Bartlett & Co.

Location: Cincinnati


AUM (billions): $2.875


Accounts: 2,528


Employees: 45


Investment Advisors: 11-50


Custodian/ Clearing Firm: N/A


Website: bartlett1898.com

24. Churchill Management Group 24. Churchill Management Group

Location: Los Angeles


AUM (billions): $2.909


Accounts: 7,157


Employees: 37


Investment Advisors: 11-50


Custodian/ Clearing Firm: TD Ameritrade, Schwab


Website: churchillmangement.com

23. Ferguson Wellman Capital Management 23. Ferguson Wellman Capital Management

Location: Portland, Ore.


AUM (billions): $2.915


Accounts: 1,851


Employees: 39


Investment Advisors: 11-50


Custodian/ Clearing Firm: Schwab


Website: fergusonwellman.com

22. Spruce Private Investors 22. Spruce Private Investors

Location: Stamford, Conn.


AUM (billions): $2,930


Accounts: 216


Employees: 17


Investment Advisors: 1-5


Custodian/ Clearing Firm: N/A


Website: spruceinvest.com

21. Strategic Capital Advisers 21. Strategic Capital Advisers

Location: Denver


AUM (billions): $2.982


Accounts: 163


Employees: 6


Investment Advisors: 6-10


Custodian/ Clearing Firm: Schwab


Website: scadv.com

20. Wetherby Asset Managment 20. Wetherby Asset Managment

Location: San Francisco


AUM (billions): $3.013


Accounts: 3,140


Employees: 56


Investment Advisors: 11-50


Custodian/ Clearing Firm: Schwab


Website: wetherby.com

19. Symmetry Partners 19. Symmetry Partners

Location: Glastonbury, Conn.


AUM (billions): $3.232


Accounts: 25,679


Employees: 70


Investment Advisors: 6-10


Custodian/ Clearing Firm: TD Ameritrade, Trust Company of America


Website: symmetrypartners.com

18. Fairpointe Capital 18. Fairpointe Capital

Location: Chicago


AUM (billions): $3.398


Accounts: 116


Employees: 11


Investment Advisors: 1-5


Custodian/ Clearing Firm: N/A


Website: fairpointecapital.com

17. Cornerstone Investment Partners 17. Cornerstone Investment Partners

Location: Atlanta


AUM (billions): $3.607


Accounts: 763


Employees: 18


Investment Advisors: 6-10


Custodian/ Clearing Firm: N/A


Website: cornerstone-ip.com

16. Ballentine Partners 16. Ballentine Partners

Location: Waltham, Mass.


AUM (billions): $3.621


Accounts: 2,497


Employees: 30


Investment Advisors: 11-50


Custodian/ Clearing Firm: Fidelity, Schwab


Website: ballentinepartners.com

15. Baker Street Advisors 15. Baker Street Advisors

Location: San Francisco


AUM (billions): $3.621


Accounts: 990


Employees: 25


Investment Advisors: 6-10


Custodian/ Clearing Firm: Schwab, Fidelity


Website: bakerstreetadvisors.com

14. Gresham Partners 14. Gresham Partners

Location: Chicago


AUM (billions): $3.664


Accounts: 1,289


Employees: 27


Investment Advisors: 6-10


Custodian/ Clearing Firm: Fidelity


Website: greshampartners.com

13. Williams Jones & Associates 13. Williams Jones & Associates

Location: New York


AUM (billions): $3.698


Accounts: 2,637


Employees: 25


Investment Advisors: 6-10


Custodian/ Clearing Firm: Schwab


Website: williamsjones.com

12. Fiduciary Counselling 12. Fiduciary Counselling

Location: St Paul, Minn.


AUM (billions): $3.724


Accounts: 1,149


Employees: 72


Investment Advisors: 1-5


Custodian/ Clearing Firm: Schwab


Website: fidcouns.com

11. Klingenstein Fields & Co. 11. Klingenstein Fields & Co.

Location: New York


AUM (billions): $3.877


Accounts: 1,707


Employees: 35


Investment Advisors: 11-50


Custodian/ Clearing Firm: Schwab


Website: klingenstein.com

10. Mercer Global Advisors 10. Mercer Global Advisors

Location: Santa Barbara, Calif.


AUM (billions): $3.880


Accounts: 14,559


Employees: 88


Investment Advisors: 11-50


Custodian/ Clearing Firm: Schwab, TD Ameritrade

Website: merceradvisors.com

9. Creative Planning 9. Creative Planning

Location: Leawood, Kan.


AUM (billions): $4.569


Accounts: 13,599


Employees: 45


Investment Advisors: 11-50


Custodian/ Clearing Firm: TD Ameritrade, Schwab


Website: thinkingbeyond.com

8. Appleton Partners 8. Appleton Partners

Location: Boston


AUM (billions): $4.891


Accounts: 2,759


Employees: 31


Investment Advisors: 11-50


Custodian/ Clearing Firm: Fidelity


Website: appletonpartners.com

7. Luminous Capital 7. Luminous Capital

Location: Los Angeles


AUM (billions): $5.341


Accounts: 2,365


Employees: 29


Investment Advisors: 11-50


Custodian/ Clearing Firm: Schwab, Fidelity


Website: luminouscap.com

6. myCIO Wealth Partners 6. myCIO Wealth Partners

Location: Philadelphia


AUM (billions): $5.544


Accounts: 4,057


Employees: 29


Investment Advisors: 29


Custodian/ Clearing Firm: 11-50


Website: myciowp.com

5. Everett Harris & Co. 5. Everett Harris & Co.

Location: Los Angeles


AUM (billions): $5.568


Accounts: 1,201


Employees: 17


Investment Advisors: 6-10


Custodian/ Clearing Firm: Schwab


Website: everettharris.com

4. Ronald Blue & Co. 4. Ronald Blue & Co.

Location: Atlanta


AUM (billions): $6.440


Accounts: 15,721


Employees: 281


Investment Advisors: 51-250


Custodian/ Clearing Firm: Schwab, Fidelity


Website: ronblue.com

3. Aspiriant 3. Aspiriant

Location: Los Angeles


AUM (billions): $6.767


Accounts: 5,122


Employees: 114


Investment Advisors: 51-250


Custodian/ Clearing Firm: Schwab


Website: aspiriant.com

2. Shepherd Kaplan 2. Shepherd Kaplan

Location: Boston


AUM (billions): $7.735


Accounts: 1,485


Employees: 40


Investment Advisors: 11-50


Custodian/ Clearing Firm: Schwab, Fidelity


Website: sk-llc.com

1. Oxford Financial Group 1. Oxford Financial Group

Location: Carmel, Ind.


AUM (billions): $10.007


Accounts: 5,800


Employees: 120


Investment Advisors: 11-50


Custodian/ Clearing Firm: Schwab, Fidelity


Website: ofgltd.com

Two questions lie at the heart of the rapidly evolving registered investment advisory space: Which of the country's 15,016 RIA firms can legitimately call themselves independent? And what, precisely, does independence mean anyway? Here are Financial Planning's top 50 fee-only RIA firms for 2012.

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