Top 50 Asset Manager RIAs
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Some of the top companies on this list may balk at being identified as asset managers. They see the services they offer to their ultra-high-net-worth clients as more akin to those of the wealth management universe. We've included them here because their role is primarily to build and manage their investors' portfolios. You generally won't find CFPs or attorneys on staff to produce financial plans or trust and estate programs for clients; you are more likely to find plenty of CFAs who help build portfolios. Using data gleaned from ADV files on record with the SEC, Registered Rep.'s partner, Meridian-IQ, sought to filter out wealth management RIAs. Firms with no more than 50 employees who work as broker/dealer reps were included in the list since some RIAs are hybrids that offer commission-based services for clients. The list doesn't rank by size of retail clients, but the fact that a company is serving that market segment to some degree suggests that its retail assets under management are significant. After all, nearly every RIA on the list has more than $1 billion in AUM.
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| Business Name | City | # Employees Give Advice | Individual Clients* | High Net Worth* | Total Accounts | Total Aum $ ml) |
|---|---|---|---|---|---|---|---|
| 1. | Veritable LP | Newtown Square, PA | 11-50 | Up To 10% | 51-75% | 2,642 | 10,058 |
| 2. | Gilder Gagnon Howe & Co. LLC | New York, NY | 11-50 | 51-75% | 26-50% | 5,846 | 5,562 |
| 3. | Curian Capital LLC | Denver, CO | 6-10 | More than 75% | Up to 10% | 50,059 | 5,383 |
| 4. | Litman/Gregory Asset Management LLC | Orinda, CA | 11-50 | Up To 10% | More Than 75% | 934 | 4,859 |
| 5. | Bel Air Investment Advisors LLC | Los Angeles, CA | 11-50 | Up To 10% | More Than 75% | 4,124 | 4,921 |
| 6. | Windhaven Investment Management, Inc. | Boston, MA | 11-50 | 11-25% | 51-75% | 7,028 | 4,693 |
| 7. | Rothschild Asset Management Inc. | New York, NY | 11-50 | More Than 75% | Up To 10% | 1,160 | 4,331 |
| 8. | Wasmer Schroeder & Co Inc. | Naples,FL | 11-50 | Up To 10% | 51-75% | 1,386 | 3,756 |
| 9. | R H Bluestein & Co. | Birmingham, MI | 6-10 | Up To 10% | More Than 75% | 1,436 | 3,394 |
| 10. | Symmetry Partners | Glastonbury, CT | 11-50 | 51-75% | 11-25% | 18,620 | 3,343 |
| 11. | Buckingham Asset Management, LLC | St Louis, MO | 11-50 | 11-25% | 51-75% | 7,202 | 3,038 |
| 12. | Dana Investment Advisors Inc. | Brookfield, WI | 11-50 | 11-25% | Up To 10% | 2,499 | 2,740 |
| 13. | KCM Investment Advisors | San Rafael, CA | 6-10 | Up To 10% | 51-75% | 1,819 | 2,591 |
| 14. | Manning & Napier Advisory Advantage Corporation | Fairport, NY | 11-50 | More Than 75% | 11-25% | 4,408 | 2,521 |
| 15. | Ingalls & Snyder LLC | New York, NY | 11-50 | 11-25% | 26-50% | 3,686 | 2,500 |
| 16. | CCM Investment Advisers, LLC | Columbia, SC | 1-5 | 26-50% | Up To 10% | 670 | 2,281 |
| 17. | Evanson Asset Management, LLC | N/A | 1-5 | Up To 10% | More Than 75% | 2,970 | 2,185 |
| 18. | Seaward Management | Boston, MA | 6-10 | Up To 10% | More Than 75% | 1,351 | 2,017 |
| 19. | Thomas Weisel Partners LLC | San Francisco, CA | 11-50 | Up To 10% | More Than 75% | 1,304 | 1,944 |
| 20. | Wilkinson O'Grady & Co. Inc. | New York, NY | 6-10 | 11-25% | 51-75% | 529 | 1,829 |
| 21. | Clifford Swan Investment Counsel LLC | Pasadena, CA | 11-50 | 26-50% | 51-75% | 2,136 | 1,816 |
| 22. | Wilbanks, Smith & Thomas Asset Management, LLC | Norfolk, VA | 6-10 | 26-50% | 26-50% | 2,569 | 1,784 |
| 23. | A. R. Schmeidler & Co., Inc. | New York, NY | 11-50 | 26-50% | 26-50% | 1,492 | 1,526 |
| 24. | Cumberland Advisors | Sarasota, FL | 6-10 | Up To 10% | More Than 75% | 1,394 | 1,504 |
| 25. | EFG Capital Asset Management LLC | Miami, FL | 11-50 | Up To 10% | 51-75% | 383 | 1,480 |
| 26. | Sol Capital Management Co. | Rockville, MD | 1-5 | 11-25% | 26-50% | 537 | 1,424 |
| 27. | Highland Capital Management, LLC | Memphis, TN | 6-10 | 26-50% | 26-50% | 576 | 1,413 |
| 28. | Adviser Investments | Newton, MA | 11-50 | 51-75% | 11-25% | 4,544 | 1,338 |
| 29. | Smith Shellnut Wilson | Madison, MO | 6-10 | 51-75% | Up To 10% | 432 | 1,334 |
| 30. | Adhesion Wealth Advisor Solutions | Charlotte, NC | 1-5 | More Than 75% | 11-25% | 5,503 | 1,305 |
| 31. | Gagnon Securities, LLC | New York, NY | 11-50 | 26-50% | 26-50% | 1,000 | 1,293 |
| 32. | Palladium Registered Investment Advisors | Norfolk, VA | 6-10 | 26-50% | 26-50% | 1,322 | 1,286 |
| 33. | Essex Financial Services, Inc. | Essex, CT | 11-50 | 51-75% | 26-50% | 2,659 | 1,265 |
| 34. | Hillview Capital Advisors, LLC | Radnor, PA | 6-10 | Up To 10% | More Than 75% | 996 | 1,242 |
| 35. | Cincinnati Asset Management Inc. | Cincinnati, OH | 6-10 | 51-75% | Up To 10% | 2,700 | 1,241 |
| 36. | Northeast Investment Management Inc. | Boston, MA | 6-10 | 51-75% | 26-50% | 1,238 | 1,224 |
| 37. | Highline Wealth Management, LLC | Bethesda, MD | 6-10 | Up To 10% | More Than 75% | 1,622 | 1,113 |
| 38. | Talon Asset Management, LLC | Chicago, IL | 11-50 | Up To 10% | More Than 75% | 662 | 1,105 |
| 39. | Tower Wealth Managers, Inc. | Prairie Village, KS | 1-5 | 26-50% | 26-50% | 1,616 | 1,102 |
| 40. | Steele Capital Management, Inc. | Dubuque, IA | 6-10 | 26-50% | 11-25% | 3,190 | 1,099 |
| 41. | Aris Wealth Services Inc. | State College, PA | 6-10 | More Than 75% | 11-25% | 4,120 | 1,097 |
| 42. | Avatar Associates | New York, NY | 6-10 | 26-50% | 11-25% | 4,600 | 1,069 |
| 43. | Scharf Investments, LLC | Scotts Valley, CA | 6-10 | Up To 10% | More Than 75% | 1,260 | 1,056 |
| 44. | Hays Advisory LLC | Brentwood, TN | 6-10 | 51-75% | 26-50% | 4,332 | 1,026 |
| 45. | True North Advisors, LLC | Dallas, TX | 11-50 | 26-50% | 26-50% | 3,433 | 1,017 |
| 46. | Apex Capital Management Inc. | Dayton, OH | 6-10 | 11-25% | 26-50% | 592 | 1,010 |
| 47. | Grimes & Company, Inc. | Westborough, MA | 6-10 | 11-25% | 51-75% | 1,364 | 1,005 |
| 48. | ZWJ Investment Counsel Inc. | Atlanta, GA | 6-10 | 26-50% | 51-75% | 1,237 | 989 |
| 49. | Willis Investment Counsel Inc. | Gainesville, GA | 1-5 | Up to 10% | 26-50% | 212 | 980 |
| 50. | Telemus Investment Management | Southfield, MI | 11-50 | 26-50% | 51-75% | 2,089 | 977 |
| *As a percentage of total clients. All data effective May 25, 2011. Source: Meridian AIQ. Note: Penton Media, publisher of Registered Rep., is an investor in Meridian. |
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