Financial advisor jobs, SEC- and state-registered adviser firms compared, with firm counts by state.
RIA firm database
The Investment Adviser Association (IAA) and Comply counted 16,544 SEC-registered investment advisers in 2025, from the Forms ADV on file with the SEC on April 6, 2026. In the SEC's Form ADV file of 2026-10-02, ~15,000 SEC-registered adviser firms have a main office in the 50 states or DC. That count runs low, because the SEC withholds the main office address of ~1,400 firms whose office is a private residence, and without a state they can't be counted. State-registered advisers are not in the SEC file at all, and NASAA counted 16,575 of them at the end of 2024. Each row of the database is one adviser firm, with its Form ADV identifiers, assets and headcount, the email it publishes on its own website, the page where we found it and the date we last verified it. You can order it now, nationwide or by state.
What's in the list
| Column | What it holds | Format |
|---|---|---|
| firm_name, legal_name | The business name and legal name the firm files on Form ADV | text |
| crd_number, sec_number | The firm's CRD number and its SEC file number | CRD number; SEC file number (801-…) |
| address, city, state, zip | The main office on Form ADV. Firms whose main office is a private residence are left out | main office; state as 2 letters, ZIP as 5 digits |
| phone | The main office number the firm gives on Form ADV | text |
| website | The firm's own site, from Form ADV or found by us | URL |
| email, email_type | An email the firm publishes on its own website, marked role (info@, compliance@) or personal (a named inbox at the firm's own domain). No free-mail addresses | email address; type is role or personal |
| email_status | valid, catch-all or unknown. Catch-all means the mailbox can't be confirmed; invalid emails are removed | valid, catch-all or unknown |
| email_source_url | The page or official register where the email was published | URL |
| email_last_verified | Date of the latest verification check | date, ISO 8601 (year-month-day) |
| regulatory_aum | Regulatory assets under management, Form ADV Item 5F | whole US dollars, Form ADV Item 5F |
| employees, advisory_employees | Employees other than clerical staff, and those who do investment advisory work, Form ADV Items 5A and 5B | whole numbers, Form ADV Item 5A and 5B |
| adv_filing_date | Date of the firm's latest Form ADV filing in the SEC file | date, ISO 8601 (year-month-day) |
One row per SEC-registered adviser firm with a main office in the 50 states or DC.
The data dictionary in every download describes each column in full.
In the public register
SEC-registered adviser firms in the register~15,000
Rounded count in SEC Form ADV, file of 2026-10-02: SEC-registered firms with a main office in the 50 states or DC. It runs low, because the SEC withholds the address of firms whose office is a private residence.
States and DC51
States plus DC with at least one entry in the register.
Register file date2026-10-02
The date of the public file we counted.
RIA firms by state
New York has the most SEC-registered adviser firms, ahead of California, Florida and Texas, and those four states hold nearly half of the register. Per resident, Connecticut (13.7 per 100,000) and New York (13.0) are far ahead of Massachusetts (8.8), the next state. Use this table to size a state before you order it.
| State | In the public register | Per 100,000 residents | Share of US total |
|---|---|---|---|
| New York | ~2,600 | 13.0 | 17% |
| California | ~1,900 | 4.8 | 13% |
| Florida | ~1,100 | 4.6 | 7.3% |
| Texas | ~1,100 | 3.4 | 7.3% |
| Illinois | ~680 | 5.4 | 4.6% |
| Massachusetts | ~630 | 8.8 | 4.2% |
| Pennsylvania | ~560 | 4.3 | 3.8% |
| Connecticut | ~510 | 13.7 | 3.4% |
| Ohio | ~400 | 3.4 | 2.7% |
| New Jersey | ~390 | 4.1 | 2.6% |
| Colorado | ~360 | 6.0 | 2.4% |
| Georgia | ~330 | 2.9 | 2.2% |
| Michigan | ~310 | 3.0 | 2.1% |
| Virginia | ~300 | 3.4 | 2% |
| North Carolina | ~290 | 2.6 | 1.9% |
| Minnesota | ~280 | 4.7 | 1.9% |
| Washington | ~270 | 3.4 | 1.8% |
| Maryland | ~230 | 3.6 | 1.5% |
| Tennessee | ~230 | 3.1 | 1.5% |
| Arizona | ~210 | 2.8 | 1.4% |
| Missouri | ~200 | 3.1 | 1.3% |
| Wisconsin | ~200 | 3.3 | 1.3% |
| Oregon | ~160 | 3.7 | 1.1% |
| Utah | ~150 | 4.3 | 1% |
| Indiana | ~150 | 2.1 | 0.98% |
| Kansas | ~130 | 4.5 | 0.9% |
| South Carolina | ~120 | 2.1 | 0.78% |
| Alabama | ~90 | 1.8 | 0.62% |
| Iowa | ~90 | 2.8 | 0.61% |
| Kentucky | ~90 | 1.8 | 0.57% |
| Oklahoma | ~80 | 2.0 | 0.57% |
| Louisiana | ~80 | 1.8 | 0.55% |
| New Hampshire | ~80 | 5.5 | 0.53% |
| Nevada | ~80 | 2.3 | 0.52% |
| Nebraska | ~70 | 3.5 | 0.48% |
| District of Columbia | ~60 | 8.5 | 0.4% |
| Arkansas | ~60 | 1.8 | 0.38% |
| Idaho | ~50 | 2.7 | 0.36% |
| Rhode Island | ~50 | 4.4 | 0.33% |
| Delaware | ~40 | 3.7 | 0.26% |
| Mississippi | ~30 | 1.2 | 0.23% |
| Vermont | ~30 | 5.1 | 0.22% |
| Maine | ~30 | 2.3 | 0.22% |
| New Mexico | ~30 | 1.2 | 0.17% |
| Wyoming | ~30 | 4.2 | 0.17% |
| Montana | ~20 | 2.1 | 0.16% |
| Hawaii | ~20 | 1.4 | 0.13% |
| South Dakota | ~10 | 1.5 | 0.09% |
| West Virginia | ~10 | 0.7 | 0.08% |
| Alaska | 9 | 1.2 | 0.06% |
| North Dakota | 9 | 1.1 | 0.06% |
Counts are rounded.
These are register counts, rounded, by the state of each firm's main office. Branch offices are not counted. The database may hold fewer rows, because our checks leave out firms we can't confirm as current.
By assets under management
Most SEC-registered firms manage between $100 million and $1 billion. Firms under $100 million, 8.2% of the register, can still register with the SEC under one of its exemptions, and the band includes firms that report no assets, such as pension consultants. The figures are regulatory assets under management from Form ADV Item 5F.
| Regulatory assets under management | Firms |
|---|---|
| Under $100 million | ~1,200 |
| $100 million to $500 million | ~6,600 |
| $500 million to $1 billion | ~2,300 |
| $1 billion to $10 billion | ~3,700 |
| $10 billion to $100 billion | ~940 |
| $100 billion or more | ~220 |
Counts are rounded.
Every row will carry the firm's regulatory_aum, so you can keep the size bands you sell to.
Free sample
Leave your email. Our first email asks you to confirm your address, then we send you 25 rows from this list, usually within one business day.
How delivery works
Checkout
You choose nationwide or your states and pay by card. Your card is held, not charged.
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We update your list from the latest public sources and verify its emails, so you receive a fresh list.
Checks
We remove everyone on our suppression list and check the file before it goes out.
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We email you your files. Delivered within 24 hours, usually much sooner. Nationwide files are verified and sent within 48 hours.
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The 30 days of the bounce refund start when we email your file (guarantee terms). How it works · Pricing
Where the data comes from
The database starts from the SEC's monthly Form ADV data for registered investment advisers, file of 2026-10-02. We take the firms with an approved SEC registration and a main office in the 50 states or DC, match each one to its own website, and record the emails published there, with the page URL. For each order we check each email with the receiving mail server before it goes into your file.
Full methodologySEC Form ADV
Questions about the RIA list
Can I buy the RIA database now?
Yes. Choose nationwide or up to 10 states in the order panel on this page. It costs $499 nationwide, and state files start from $39. Delivered within 24 hours, usually much sooner. Nationwide files are verified and sent within 48 hours.
Does it include state-registered advisers?
No. The database covers SEC-registered firms only, because they come from one federal file. Smaller advisers, generally those with less than $100 million under management, register with their state securities regulator instead. NASAA counted 16,575 state-registered advisers at the end of 2024, and none of them are in the SEC file.
Do you include broker-dealers or individual reps?
No. Each row is an adviser firm. The database has no rows for individual advisers or brokers and uses no data from FINRA BrokerCheck. A firm that is also registered as a broker-dealer is included as an adviser, from its Form ADV.
Where do the assets figures come from?
From Form ADV Part 1A, Item 5F, where each firm reports its regulatory assets under management. The figures are self-reported and are usually as of the firm's last fiscal year end, so they can be up to a year old. Two advisers can report the same assets, for example a fund's adviser and its sub-adviser, so adding firms' figures together overstates the money they manage.
Is this a list of registered investment advisors?
Yes, of SEC-registered ones with a US main office. The SEC publishes the underlying Form ADV data each month. What we add is the firm's website, the emails it publishes there with their source pages, and an email check, in one file with a column for each field.
Is this a financial advisor directory for finding an advisor?
No. It is a business file for companies that sell to adviser firms, such as custodians, software vendors, asset managers and service firms. To check an adviser you are thinking of hiring, use the SEC's free Investment Adviser Public Disclosure site.
How many RIAs are there in the US?
About 16,500 SEC-registered advisers in 2025 and about 16,600 state-registered ones at the end of 2024. The IAA Snapshot counted 16,544 SEC-registered advisers in 2025, and NASAA counted 16,575 state-registered advisers at the end of 2024. The RIA statistics page compares firm counts with the number of people working as financial advisors.
Can I send email to adviser firms legally?
In the US, CAN-SPAM allows commercial email to businesses if you identify yourself, include a postal address and an opt-out, and honor opt-outs. This is general information, not legal advice. Read is buying an email list legal?
Sources
- SEC, Information About Registered Investment Advisers and Exempt Reporting Advisers, Form ADV data file ia100226.zip (file of 2026-10-02), https://www.sec.gov/data-research/sec-markets-data/information-about-registered-investment-advisers-exempt-reporting-advisers (accessed 2026-10-03)
- Investment Adviser Association and Comply, Investment Adviser Industry Snapshot 2026 (data for 2025, Forms ADV on file as of 2026-04-06), https://www.investmentadviser.org/wp-content/uploads/2026/06/Snapshot-2026.pdf (accessed 2026-10-03)
- NASAA, Investment Adviser Section 2025 Annual Report (September 2025; counts as of 2024-12-31), https://www.nasaa.org/wp-content/uploads/2025/09/IA-Section-2025-Report-FINAL.pdf (accessed 2026-10-03)