10 Fast-Growing Midsize RIAs: SmartAsset

The independent wealth management industry in the U.S. has grown significantly during the past decade, and many financial advisors expect growth to continue, according to a recent report from SmartAsset, an online destination for consumer-focused financial information and advice.

Nine in 10 firms polled by Schwab Advisor Services earlier this year said they expect growth over the next five years, with average net new assets increasing by 17% annually over this period.

A good number of wealth management firms will start out on this growth cycle already managing billions in assets.

SmartAsset analyzed data from the Securities and Exchange Commission on 728 RIAs to determine their current assets under management and the size of their client base.

Researchers eliminated RIAs that took part in mergers or acquisitions during the time period of the research, March 2019 to March 2022. They also eliminated firms with disclosures on their form ADV and those that did not offer financial planning services or had less than $500 million in AUM.

We took the top 50 firms in SmartAsset’s fastest-growing RIA list and ranked them by AUM. Check them out in the gallery above.