Top 20 Fastest-Growing RIAs: M&A and Recruiting

AdvizorPro identified 20 registered investment advisers whose assets under management rose at the fastest compound annual rate over the past year. The primary drivers of growth were mergers and acquisitions, advisor recruiting and internal rollups.

The rankings compare each firm’s most recent Form ADV AUM figures with those filed about a year earlier to calculate compound annual growth rates. Firms with less than $500 million in AUM and firms that do not focus on retail wealth management were excluded. Because many RIAs file Form ADV once a year in March, current AUM and headcounts may differ from the figures used in the analysis.

Deal activity and platform consolidations contributed substantial AUM movement. Several firms expanded by acquiring smaller advisory practices or folding branded advisory units into larger parent companies. Internal rollups inside networks such as Osaic, Focus Financial Partners and Cetera accounted for notable increases in reported AUM. Market appreciation raised dollar totals for some firms that retained client assets.

The top-20 list includes standalone retail advisors, newer firms that have scaled quickly through acquisitions and hiring, and RIA units of dually registered broker-dealers. Named firms on the list include Modern Wealth Management, Elevation Point, Arax Advisory Partners and Arkadios Capital.

Some entries are divisions or affiliates of the same parent company and operate under different brand names than those on their Form ADV filings. That can create differences between the number of investment adviser representatives reported and total employee counts, and a parent firm’s total AUM may exceed the AUM shown for any single affiliate. Several firms on the list recorded more than 100% compound annual AUM growth over the last year.

Recruiting and platform support have helped some advisors accelerate asset growth. Jodie Papike, CEO of recruiting firm Cross-Search, noted that many RIAs provide technology and marketing teams that take responsibility for building an advisor’s business and help incoming teams scale.

AdvizorPro’s rankings reflect a snapshot of rapid change in the wealth management industry. The composition of fastest-growing firms can shift as additional deals close, recruiting cycles finish and market values change.