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There's no rule-of-thumb for RIAs to follow in figuring out how many advisors they should employ for the amount of assets they manage.

That's why we've highlighted the 10 biggest firms with the lowest advisor-to-AUM ratio. This ranking is derived from the top 25 firms on Financial Planning’s annual, exclusive Top RIAs list. What can these ratios tell you about how these RIAs operate? They may provide insight into how firms provide hands-on client care. They can also be an indicator of profitability. Margins may be higher at firms that manage the most AUM with the fewest hands.

One firm has a single advisor to oversee $3.52 billion for its clients. By comparison, another employs 35 advisors, but that crew manages a hefty $13.58 billion. Please click on the box above to see the results.

Note: The FP50 is based on data provided by participating independent broker-dealers. Firms are ranked based on total revenue.

View the full list here.
Read the feature story here: RIA Leaders 2017: Is this decumulation?
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10. Dowling & Yahnke
Advisor-to-AUM Ratio (billion): 4.50: $1
AUM (billion): $3.33
# of Advisors: 15
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9. Ferguson Wellman Capital Management
Advisor-to-AUM Ratio (billion): 4.41: $1
AUM (billion): $4.31
# of Advisors: 19
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8. Pathstone Federal Street
Advisor-to-AUM Ratio (billion): 4.35: $1
AUM (billion): $8.28
# of Advisors: 36
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7. Athena Capital Advisors
Advisor-to-AUM Ratio (billion): 3.50: $1
AUM (billion): $5.99
# of Advisors: 21
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6. Seven Post Investment Office
Advisor-to-AUM Ratio (billion): 2.87: $1
AUM (billion): $4.17
# of Advisors: 12
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5. Oxford Financial Group
Advisor-to-AUM Ratio (billion): 2.58: $1
AUM (billion): $13.58
# of Advisors: 35
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4. Shepherd Kaplan
Advisor-to-AUM Ratio (billion): 2.16: $1
AUM (billion): $8.35
# of Advisors: 18
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3. Evanson Asset Management
Advisor-to-AUM Ratio (billion): 1.18: $1
AUM (billion): $3.40
# of Advisors: 4
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2. CV Advisors
Advisor-to-AUM Ratio (billions): 0.95: $1
AUM billion): $4.23
# of Advisors: 4
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1. Iron Capital Advisors
Advisor-to-AUM Ratio (billion): 0.28: $1
AUM (billion): $3.52
# of Advisors: 1
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