Research Report · 2026-06-30
Top Registered Investment Advisers by Non-Discretionary AUM
SEC-registered investment advisers ranked by latest reported non-discretionary regulatory assets under management.
Firms
1,000
Total AUM
$63.98T
Median AUM
$7.37B
Latest Filing
2026-06-30
| Rank↕ | Firm Name | CRD↕ | Non-Discretionary AUM↕ | AUM↕ | Employees↕ | Latest Filing | |
|---|---|---|---|---|---|---|---|
| 1 | MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED | 7691 | $1.34T | $1.78T | 32,960 | 2026-06-30 | → |
| 2 | CAPFINANCIAL PARTNERS, LLC | 175112 | $916.53B | $1.24T | 1,841 | 2026-05-31 | → |
| 3 | MORGAN STANLEY SMITH BARNEY LLC | 149777 | $527.37B | $1.96T | 29,481 | 2026-06-30 | → |
| 4 | EDWARD D. JONES & CO., L.P. | 250 | $519.33B | $1.01T | 36,317 | 2026-06-30 | → |
| 5 | UBS FINANCIAL SERVICES INC. | 8174 | $512.81B | $915.79B | 12,524 | 2026-06-30 | → |
| 6 | AMERIPRISE FINANCIAL SERVICES, LLC | 6363 | $304.18B | $660.47B | 14,056 | 2026-06-30 | → |
| 7 | VANGUARD ADVISERS, INC. | 106715 | $223.92B | $344.62B | 2,208 | 2026-05-31 | → |
| 8 | CAMBRIDGE ASSOCIATES, LLC | 104942 | $219.98B | $326.70B | 1,116 | 2026-04-30 | → |
| 9 | RAYMOND JAMES FINANCIAL SERVICES ADVISORS, INC | 149018 | $218.30B | $390.04B | 9,675 | 2026-06-30 | → |
| 10 | WELLS FARGO CLEARING SERVICES, LLC | 19616 | $192.59B | $671.42B | 18,895 | 2026-06-30 | → |
| 11 | GALLAGHER FIDUCIARY ADVISORS, LLC | 146509 | $181.96B | $194.82B | 235 | 2026-06-30 | → |
| 12 | BLACKROCK INVESTMENT MANAGEMENT, LLC | 108928 | $180.08B | $676.69B | 1,589 | 2026-06-30 | → |
| 13 | HSBC GLOBAL ASSET MANAGEMENT (USA) INC. | 105686 | $149.15B | $156.56B | 100 | 2026-06-30 | → |
| 14 | RAYMOND JAMES & ASSOCIATES, INC. | 705 | $122.28B | $500.96B | 16,780 | 2026-06-30 | → |
| 15 | GLOBAL RETIREMENT PARTNERS LLC | 172011 | $114.35B | $169.58B | 464 | 2026-06-30 | → |
| 16 | GC ADVISORS LLC | 148687 | $113.44B | $177.85B | 1,035 | 2026-06-30 | → |
| 17 | BAM CREDIT AND INSURANCE SOLUTIONS ADVISOR LLC | 312792 | $106.92B | $107.29B | 1,421 | 2026-03-31 | → |
| 18 | ROBERT W. BAIRD & CO. INCORPORATED | 8158 | $104.58B | $394.07B | 4,322 | 2026-04-30 | → |
| 19 | WELLINGTON MANAGEMENT COMPANY LLP | 106595 | $102.20B | $1.43T | 1,868 | 2026-03-31 | → |
| 20 | ONEDIGITAL INVESTMENT ADVISORS LLC | 106766 | $96.32B | $155.41B | 648 | 2026-04-30 | → |
| 21 | APG ASSET MANAGEMENT US, INC | 160795 | $87.36B | $141.33B | 183 | 2026-03-31 | → |
| 22 | CARLYLE INVESTMENT MANAGEMENT L.L.C. | 111128 | $83.06B | $283.81B | 1,040 | 2026-03-31 | → |
| 23 | GOLDMAN SACHS ASSET MANAGEMENT, L.P. | 107738 | $79.17B | $2.65T | 2,059 | 2026-05-31 | → |
| 24 | FIRST TRUST ADVISORS LP | 107027 | $76.55B | $309.24B | 542 | 2026-04-30 | → |
| 25 | RBC CAPITAL MARKETS, LLC | 31194 | $75.08B | $310.43B | 8,781 | 2026-06-30 | → |
| 26 | ALM FIRST FINANCIAL ADVISORS LLC | 108561 | $73.87B | $76.17B | 23 | 2026-03-31 | → |
| 27 | OSAIC WEALTH, INC. | 23131 | $73.81B | $234.86B | 8,979 | 2026-06-30 | → |
| 28 | JOBS PEAK ADVISORS, LLC | 286080 | $73.58B | $73.58B | 1 | 2026-03-31 | → |
| 29 | J.P. MORGAN SECURITIES LLC | 79 | $71.40B | $429.69B | 8,703 | 2026-06-30 | → |
| 30 | STIFEL, NICOLAUS & COMPANY, INCORPORATED | 793 | $70.69B | $197.53B | 6,478 | 2026-06-30 | → |
| 31 | TIAA-CREF TUITION FINANCING, INC. | 108580 | $70.51B | $70.51B | 65 | 2026-06-30 | → |
| 32 | IFM INVESTORS PTY LTD | 162754 | $65.21B | $152.93B | 717 | 2025-11-30 | → |
| 33 | WELLS FARGO ADVISORS FINANCIAL NETWORK, LLC | 11025 | $60.73B | $252.25B | 4,047 | 2026-06-30 | → |
| 34 | J.P. MORGAN PRIVATE INVESTMENTS INC. | 110186 | $57.05B | $469.98B | 758 | 2026-06-30 | → |
| 35 | USI ADVISORS, INC. | 108113 | $53.91B | $56.28B | 79 | 2026-03-31 | → |
| 36 | FRANKLIN TEMPLETON PRIVATE PORTFOLIO GROUP, LLC | 142219 | $52.46B | $139.88B | 15 | 2026-06-30 | → |
| 37 | CUSOURCE, LLC | 44970 | $52.37B | $52.37B | 7 | 2026-03-31 | → |
| 38 | STRATEGIC ADVISERS LLC | 104555 | $49.05B | $1.37T | 17,112 | 2026-03-31 | → |
| 39 | CETERA INVESTMENT ADVISERS LLC | 105644 | $47.67B | $256.81B | 10,251 | 2026-06-30 | → |
| 40 | BUCK GLOBAL, LLC | 108695 | $47.24B | $47.61B | 625 | 2025-03-31 | → |
| 41 | CONCORD ADVISORY GROUP LTD | 107291 | $46.19B | $46.19B | 34 | 2026-03-31 | → |
| 42 | FIDUCIENT ADVISORS LLC | 106720 | $45.08B | $97.54B | 210 | 2026-03-31 | → |
| 43 | MML INVESTORS SERVICES, LLC | 10409 | $44.96B | $115.64B | 6,976 | 2026-05-31 | → |
| 44 | PATHSTONE FAMILY OFFICE, LLC | 151736 | $44.72B | $110.30B | 704 | 2026-03-31 | → |
| 45 | CLEARBRIDGE INVESTMENTS, LLC | 137028 | $43.27B | $184.81B | 210 | 2026-01-31 | → |
| 46 | CANTERBURY CONSULTING INCORPORATED | 22875 | $41.73B | $45.88B | 64 | 2026-05-31 | → |
| 47 | PARAMETRIC PORTFOLIO ASSOCIATES LLC | 114310 | $40.89B | $684.78B | 1,109 | 2026-04-30 | → |
| 48 | COPENHAGEN INFRASTRUCTURE PARTNERS INC. | 321116 | $39.35B | $39.35B | 47 | 2026-03-31 | → |
| 49 | EQT PARTNERS INC. | 160179 | $38.59B | $39.20B | 192 | 2026-03-31 | → |
| 50 | HILLTOP SECURITIES ASSET MANAGEMENT, LLC | 110760 | $37.70B | $37.70B | 31 | 2026-03-31 | → |
| 51 | SEGAL ADVISORS, INC. | 114687 | $37.24B | $50.15B | 112 | 2026-03-31 | → |
| 52 | MASSACHUSETTS FINANCIAL SERVICES COMPANY | 110045 | $37.23B | $514.05B | 1,244 | 2026-03-31 | → |
| 53 | IFM INVESTORS (US) ADVISOR, LLC | 146366 | $35.67B | $40.23B | 157 | 2025-12-31 | → |
| 54 | VESTMARK ADVISORY SOLUTIONS, INC. | 221518 | $34.06B | $49.85B | 33 | 2026-03-31 | → |
| 55 | JANNEY MONTGOMERY SCOTT LLC | 463 | $33.90B | $110.11B | 2,404 | 2026-06-30 | → |
| 56 | GOVERNMENT PORTFOLIO ADVISORS LLC | 170384 | $33.77B | $35.09B | 10 | 2026-03-31 | → |
| 57 | FOCUS PARTNERS WEALTH, LLC | 159289 | $33.62B | $181.86B | 1,915 | 2026-04-30 | → |
| 58 | AON INVESTMENTS USA INC. | 105596 | $32.52B | $150.99B | 255 | 2026-03-31 | → |
| 59 | HARBOURVEST PARTNERS, LLC | 109846 | $32.22B | $191.18B | 1,204 | 2026-05-31 | → |
| 60 | WORLD INVESTMENT ADVISORS, LLC | 208512 | $31.94B | $56.28B | 413 | 2026-03-31 | → |
| 61 | PRINCIPAL REAL ESTATE INVESTORS, LLC | 109008 | $31.72B | $105.65B | 477 | 2026-05-31 | → |
| 62 | ICONIQ CAPITAL, LLC | 159198 | $31.71B | $117.53B | 513 | 2026-04-30 | → |
| 63 | EMPOWER ADVISORY GROUP, LLC | 112058 | $31.19B | $195.43B | 8,051 | 2026-06-30 | → |
| 64 | LOOMIS, SAYLES & COMPANY, L.P. | 105377 | $31.12B | $386.88B | 728 | 2026-03-31 | → |
| 65 | BC PARTNERS PE L.P. | 333698 | $31.07B | $31.07B | 50 | 2026-05-31 | → |
| 66 | PANTHEON VENTURES (US) LP | 153425 | $30.12B | $87.69B | 129 | 2026-03-31 | → |
| 67 | ADVANCED CAPITAL GROUP, INC. | 109673 | $28.27B | $29.99B | 22 | 2026-03-31 | → |
| 68 | EAGLE ASSET MANAGEMENT INC | 110653 | $28.27B | $60.65B | 77 | 2026-06-30 | → |
| 69 | WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | 116407 | $27.87B | $122.19B | 1,700 | 2026-06-30 | → |
| 70 | OSAIC FA, INC. | 3978 | $27.10B | $37.13B | 1,607 | 2025-01-31 | → |
| 71 | THE PALISADES GROUP, LLC | 165609 | $26.63B | $27.78B | 90 | 2026-05-31 | → |
| 72 | HALL CAPITAL PARTNERS LLC | 106759 | $26.31B | $50.30B | 175 | 2025-03-31 | → |
| 73 | CVC ADVISORS (U.S.) INC. | 174050 | $25.56B | $25.56B | 70 | 2026-03-31 | → |
| 74 | MORRISON US, LLC | 315983 | $25.20B | $27.97B | 20 | 2026-01-31 | → |
| 75 | J.P. MORGAN INVESTMENT MANAGEMENT INC. | 107038 | $25.04B | $3.52T | 3,194 | 2026-06-30 | → |
| 76 | ARES MANAGEMENT LLC | 130074 | $24.85B | $458.82B | 3,990 | 2026-05-31 | → |
| 77 | SYMETRA INVESTMENT MANAGEMENT COMPANY | 312176 | $24.81B | $88.78B | 101 | 2026-04-30 | → |
| 78 | SANTANDER ASSET MANAGEMENT SA SGIIC | 143883 | $24.45B | $159.86B | 231 | 2026-03-31 | → |
| 79 | NEW ENGLAND ASSET MANAGEMENT, INC. | 105900 | $24.41B | $111.72B | 122 | 2026-03-31 | → |
| 80 | UBS ASSET MANAGEMENT (AMERICAS) LLC | 106838 | $24.27B | $588.22B | 574 | 2026-03-31 | → |
| 81 | THE BALDWIN GROUP WEALTH ADVISORS, LLC | 312284 | $24.17B | $27.28B | 50 | 2026-04-30 | → |
| 82 | PEMBERTON CAPITAL ADVISORS LLP | 282621 | $24.17B | $25.06B | 146 | 2026-03-31 | → |
| 83 | EAGLE STRATEGIES LLC | 110826 | $24.12B | $25.40B | 2,804 | 2026-03-31 | → |
| 84 | CHARLES SCHWAB INVESTMENT MANAGEMENT, INC | 106753 | $23.99B | $1.72T | 946 | 2026-03-31 | → |
| 85 | BRIDGEPOINT LLC | 322260 | $23.98B | $24.18B | 21 | 2026-04-30 | → |
| 86 | LGT CAPITAL PARTNERS (USA) INC. | 160437 | $23.84B | $59.78B | 78 | 2026-04-30 | → |
| 87 | PATHWAY CAPITAL MANAGEMENT, LP | 108016 | $23.65B | $97.82B | 248 | 2026-06-30 | → |
| 88 | K1 INVESTMENT MANAGEMENT LLC | 161953 | $23.44B | $23.60B | 75 | 2026-03-31 | → |
| 89 | CERITY PARTNERS RETIREMENT PLAN ADVISORS LLC | 164198 | $23.23B | $40.25B | 193 | 2026-04-30 | → |
| 90 | MPC CAPITAL ADVISORS, LLC | 153586 | $22.48B | $22.57B | 9 | 2026-03-31 | → |
| 91 | OPPENHEIMER & CO. INC. | 249 | $22.48B | $36.71B | 2,806 | 2026-06-30 | → |
| 92 | MORGAN STANLEY INVESTMENT MANAGEMENT LIMITED | 105922 | $22.27B | $174.54B | 222 | 2026-06-30 | → |
| 93 | CVC SECONDARY PARTNERS (U.S.), LLC | 289554 | $22.19B | $22.19B | 45 | 2026-03-31 | → |
| 94 | EQUITABLE ADVISORS, LLC | 6627 | $21.39B | $42.48B | 5,674 | 2026-05-31 | → |
| 95 | HIGHLAND CONSULTING ASSOCIATES INC. | 109834 | $21.32B | $21.93B | 28 | 2026-03-31 | → |
| 96 | CITIGROUP GLOBAL MARKETS INC. | 7059 | $21.04B | $56.01B | 7,036 | 2026-06-30 | → |
| 97 | BLACKSTONE PROPERTY ADVISORS L.P. | 226598 | $19.69B | $77.40B | 575 | 2026-03-31 | → |
| 98 | PRIME CAPITAL INVESTMENT ADVISORS, LLC | 288712 | $19.58B | $39.14B | 460 | 2026-06-30 | → |
| 99 | STEPSTONE GROUP REAL ASSETS LP | 281695 | $19.25B | $41.48B | 94 | 2026-06-30 | → |
| 100 | PARTNERS CAPITAL INVESTMENT GROUP, LLP | 120663 | $19.09B | $50.51B | 190 | 2026-04-30 | → |
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