RIA Leaders 2023: Download FP's list of the 150 largest fee-only RIAs

The 150 largest fee-only registered investment advisory firms have more than $812 billion in combined assets under management across nearly 750,000 client accounts.

As part of the upcoming print edition of Financial Planning's annual RIA Leaders issue, data partner COMPLY used Form ADV filings with the Securities and Exchange Commission to rank RIAs that meet a six-part formula, eliminating any firms that take any type of commissions. This listing of the 150 fee-only RIAs with the most assets under management represents one method  discerning the biggest firms in the channel. Other definitions of "fee-only," a more general approach to measuring RIAs or an identification of the fastest growing firms result in vastly different rankings.    

Follow this link to see FP's list, and see other RIA Leaders 2023 coverage here:

• Schwab and Fidelity referrals give certain RIAs business, deal others out
• RIA Leaders: Referrals from Schwab and Fidelity
• 11 more views on RIA referrals from Schwab, Fidelity, rivals and experts
• No Fidelity RIA referrals for Goldman PFM after Creative Planning deal
• These are the 20 largest fee-only RIAs, ranked by AUM
• These are the 10 largest fee-only RIAs, ranked by advisor headcount

Note: FP's data partner for the RIA Leaders feature, COMPLY, produced the rankings by applying the following six criteria to firms' required SEC Form ADV filings in July 2023:

• Firms must have zero registered representatives of a broker-dealer.
• At least 50% of the firm's clients must be individuals or high net worth individuals.
• Firms must not list commissions as a compensation arrangement.
• Firms must have more than zero financial planning clients.
• Firms must not list commission-taking businesses in "other business activities."
• Firms cannot be affiliated under common ownership with commission-taking businesses.