The year 2020 has no doubt been a struggle for many businesses, investment advisors included, but Financial Advisor magazine's latest RIA surveys shows that many advisors entered the year in a position of strength.
FA's annual RIA survey looked at more than 700 RIA firms across the nation and, as part of the polling, gathered data on how RIAs grew their assets from 2018 to 2019.
The survey found that the 10 firms with the highest growth rates at the conclusion of 2019 represented a varied mix of advisors—a group that included firms from across the nation, with varying levels of assets under management.
Many of the firms more than doubled their AUMs in 2019.
The following, in ascending order, are FA's 10 top fastest-growing U.S. RIAs:
10. AE Wealth Management
Topeka, Kan.
2019 clients: 42,476
2019 assets ($MM): 8,583.74
Asset growth 2018-19: 83.06%
Asset growth per client: 22.82%
9. Pinnacle Wealth Planning Services
Mansfield, Ohio
2019 clients: 723
2019 assets ($MM): 1,361.98
Asset growth 2018-19: 90.42%
Asset growth per client: 59.08%
8. LeafHouse Financial
Austin, Texas
2019 clients: 1,609
2019 assets ($MM): 9,578.84
Asset growth 2018-19: 91.18%
Asset growth per client: 37.24%
7. BFSG
Irvine, Calif.
2019 clients: 660
2019 assets ($MM): 854.14
Asset growth 2018-19: 92.02%
Asset growth per client: 31.51%
6. Boston Private Wealth
Boston
2019 clients: 3,126
2019 assets ($MM): 13,315.70
Asset growth 2018-19: 96.13%
Asset growth per client: 53.34%
5. TC Wealth Partners
Downers Grove, Ill.
2019 clients: 657
2019 assets ($MM): 901.16
Asset growth 2018-19: 124.19%
Asset growth per client: 59.35%
4. Allworth Financial
Sacremento, Calif.
2019 clients: 11,208
2019 assets ($MM): 8,095.77
Asset growth 2018-19: 134.41%
Asset growth per client: 36.97%
3. Inspire Investing
Hollister, Calif.
2019 clients: 640
2019 assets ($MM): 634.58
Asset growth 2018-19: 152.03%
Asset growth per client: 122.11%
2. Arlington Partners*
Birmingham, Ala.
2019 clients: 122
2019 assets ($MM): 5,421.91
Asset growth 2018-19: 280.42%
Asset growth per client: 218.05%
*Reflects several clients' liquidity event.
1. DBR & Co.**
Pittsburgh
2019 clients: 873
2019 assets ($MM): 6,676.59
Asset growth 2018-19: 1541.80%
Asset growth per client: 1225.85%
**Reflects the addition of a large fiduciary retirement plan business.
More information about Financial Advisor's 2020 RIA survey is available here.
