In terms of function and practice, registered investment advisory firms (RIAs) are similar to brokerage firms. One of the primary differences lies in their respective regulatory oversight and regulatory obligations. There is also usually a different forum for resolving disputes. For example, financial advisors registered through a FINRA registered broker-dealer are regulated by FINRA and any disputes arising from a financial advisors servicing of an investor’s account is generally arbitrated through FINRA dispute resolution, whereas RIAs are not currently regulated by FINRA and usually have their own dispute resolution clause – generally requiring claims to be filed through AAA (American Arbitration Association) or JAMS.
Even though RIAs are not usually regulated by FINRA, this does not mean that there are not extremely large RIAs out there.
Financial Advisor Magazine recently released its 2011 rankings for registered investment advisory and as you can see from the data below, there are many large RIA’s out there:
Firm Name Location Year End 2010 Assets ($MM)
- Hall Capital Partners San Francisco, CA $21,584.26
- Gen Spring Family Offices Palm Beach Gardens, FL $19,903.75
- StanCorp Investment Advisors Portland, OR $17,219.95
- Oxford Financial Group Indianapolis, IN $10,440.61
- Convergent Wealth Advisors Potomac, MD $10,391.93
- Moneta Group Clayton, MO $10,187.30
- Mariner Wealth Advisors Leawood, KS $8,210.21
- Plante Moran Financial Advisors Southfield, MI $6,714.32
- Edelman Financial Services Fairfax, VA $5,959.95
- Johnson Investment Counsel Cincinnati, OH $5,835.94
- Ronald Blue & Co. Roswell, GA $5,833.87
- Pennant Management Milwaukee, WI $5,608.13
- BBR Partners New York, NY $5,391.60
- myCIO Wealth Partners Philadelphia, PA $5,315.26
- Aspiriant Los Angeles, CA $4,558.69
- Geneva Investment Management Chicago, IL $4,452.54
- Federal Street Advisors Boston, MA $4,157.79
- United Capital Financial Advisors Newport Beach, CA $4,127.45
- Beacon Pointe Advisors Newport Beach, CA $4,016.08
- The Presidio Group San Francisco, CA $3,632.23
- Ballentine Partners Waltham, MA $3,461.31
- Clarfeld Financial Advisors Tarrytown, NY $3,440.90
- RSM McGladrey Minneapolis, MN $3,385.96
- Symmetry Partners Glastonbury, CT $3,343.00
- GW & Wade Wellesley, MA $3,320.87
- Cornerstone Advisors Asset Bethlehem, PA $3,317.34
- Welch & Forbes Boston, MA $3,157.75
- Bahl & Gaynor Investment Counsel Cincinnati, OH $3,027.41
- Massey, Quick & Co. Morristown, NJ $2,987.60
- Gresham Partners Chicago, IL $2,938.62
- Altair Advisors Chicago, IL $2,642.51
- Evercore Wealth Management New York, NY $2,534.14
- Hewins Financial Advisors San Mateo, CA $2,355.81
- Bingham Osborn & Scarborough San Francisco, CA $2,195.14
- R.M. Davis Portland, ME $2,180.85
- Signature Norfolk, VA $2,157.52
- Harris SBSB McLean, VA $2,130.00
- Homrich Berg Atlanta, GA $2,099.26
- RegentAtlantic Capital Morristown, NJ $2,070.55
- Heck Capital Advisors Rhinelander, WI $2,011.50
- Mill Creek Capital Advisors Conshohocken, PA $2,001.54
- MAI Wealth Advisors Cleveland, OH $1,995.06
- Savant Capital Management Rockford, IL $1,949.85
- South Texas Money Management San Antonio, TX $1,927.30
- Creative Planning Leawood, KS $1,917.53
- Highmount Capital New York, NY $1,877.22
- Telemus Capital Partners Southfield, MI $1,875.27
- Signature Estate & Investment Los Angeles, CA $1,852.79
- Molewski Financial Partners Bethlehem, PA $1,822.14
- Clifford Swan Investment Counsel Pasadena, CA $1,815.77
The foregoing information has been provided by The White Law Group. The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida. The firm represents individuals in claims against their financial professional and has often litigated matters involving RIAs.
If you are concerned about your investments with an RIA, please feel free to call the securities attorneys of The White Law Group at 312/238-9650 for a free consultation.
For more information on The White Law Group, visit http://whitesecuritieslaw.com.
Tags: Chicago registered investment advisor, Convergent Wealth Advisors, Gen Spring Family Offices, Hall Capital Partners, Illinois registered investment advisor, Illinois RIA, investment advisor fraud attorney, investment advisor fraud lawyer, investment advisor litigation attorney, investment advisor litigation lawyer, Oxford Financial Group, RIA fraud attorney, RIA fraud lawyer, RIA litigation attorney, RIA litigation lawyer, StanCorp Investment Advisors Last modified: December 8, 2022