Research Report · 2026-06-30
Registered Investment Advisers Reporting Referral Compensation
SEC-registered investment advisers that report referral compensation arrangements, ranked by AUM.
Firms
782
Total AUM
$44.22T
Median AUM
$1.39B
Latest Filing
2026-06-30
| Rank↕ | Firm Name | CRD↕ | AUM↕ | AUM↕ | Employees↕ | Latest Filing | |
|---|---|---|---|---|---|---|---|
| 1 | BLACKROCK FUND ADVISORS | 105247 | $4.28T | $4.28T | 128 | 2026-05-31 | → |
| 2 | GOLDMAN SACHS ASSET MANAGEMENT, L.P. | 107738 | $2.65T | $2.65T | 2,059 | 2026-05-31 | → |
| 3 | MORGAN STANLEY SMITH BARNEY LLC | 149777 | $1.96T | $1.96T | 29,481 | 2026-06-30 | → |
| 4 | MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED | 7691 | $1.78T | $1.78T | 32,960 | 2026-06-30 | → |
| 5 | CHARLES SCHWAB INVESTMENT MANAGEMENT, INC | 106753 | $1.72T | $1.72T | 946 | 2026-03-31 | → |
| 6 | BLACKROCK FINANCIAL MANAGEMENT, INC | 107105 | $1.60T | $1.60T | 7,987 | 2026-06-30 | → |
| 7 | NORTHERN TRUST INVESTMENTS, INCORPORATED | 105780 | $1.25T | $1.25T | 662 | 2026-06-30 | → |
| 8 | CAPFINANCIAL PARTNERS, LLC | 175112 | $1.24T | $1.24T | 1,841 | 2026-05-31 | → |
| 9 | BLACKROCK ADVISORS, LLC | 106614 | $1.10T | $1.10T | 146 | 2026-05-31 | → |
| 10 | EDWARD D. JONES & CO., L.P. | 250 | $1.01T | $1.01T | 36,317 | 2026-06-30 | → |
| 11 | MANAGED ACCOUNT ADVISORS LLC | 142558 | $994.99B | $994.99B | 61 | 2026-06-30 | → |
| 12 | INVESCO CAPITAL MANAGEMENT LLC | 125601 | $941.02B | $941.02B | 222 | 2026-03-31 | → |
| 13 | LPL FINANCIAL LLC | 6413 | $819.12B | $819.12B | 41,879 | 2026-06-30 | → |
| 14 | ALLIANCEBERNSTEIN L.P. | 108477 | $763.40B | $763.40B | 4,204 | 2026-03-31 | → |
| 15 | INVESCO ADVISERS, INC. | 105360 | $749.52B | $749.52B | 2,804 | 2026-06-30 | → |
| 16 | APOLLO CAPITAL MANAGEMENT, L.P. | 143161 | $718.48B | $718.48B | 3,564 | 2026-05-31 | → |
| 17 | MORGAN STANLEY INVESTMENT MANAGEMENT INC. | 110353 | $702.25B | $702.25B | 670 | 2026-06-30 | → |
| 18 | PARAMETRIC PORTFOLIO ASSOCIATES LLC | 114310 | $684.78B | $684.78B | 1,109 | 2026-04-30 | → |
| 19 | BLACKROCK INVESTMENT MANAGEMENT, LLC | 108928 | $676.69B | $676.69B | 1,589 | 2026-06-30 | → |
| 20 | AMERIPRISE FINANCIAL SERVICES, LLC | 6363 | $660.47B | $660.47B | 14,056 | 2026-06-30 | → |
| 21 | GOLDMAN SACHS ASSET MANAGEMENT INTERNATIONAL | 107715 | $621.02B | $621.02B | 611 | 2026-05-31 | → |
| 22 | UBS ASSET MANAGEMENT (AMERICAS) LLC | 106838 | $588.22B | $588.22B | 574 | 2026-03-31 | → |
| 23 | COLUMBIA MANAGEMENT INVESTMENT ADVISERS, LLC | 108257 | $502.40B | $502.40B | 914 | 2026-05-31 | → |
| 24 | RAYMOND JAMES & ASSOCIATES, INC. | 705 | $500.96B | $500.96B | 16,780 | 2026-06-30 | → |
| 25 | JPMORGAN ASSET MANAGEMENT (UK) LIMITED | 135960 | $484.10B | $484.10B | 1,403 | 2026-04-30 | → |
| 26 | VANGUARD ASSET MANAGEMENT, LIMITED | 282598 | $482.96B | $482.96B | 960 | 2025-05-31 | → |
| 27 | J.P. MORGAN PRIVATE INVESTMENTS INC. | 110186 | $469.98B | $469.98B | 758 | 2026-06-30 | → |
| 28 | ARES MANAGEMENT LLC | 130074 | $458.82B | $458.82B | 3,990 | 2026-05-31 | → |
| 29 | J.P. MORGAN SECURITIES LLC | 79 | $429.69B | $429.69B | 8,703 | 2026-06-30 | → |
| 30 | PRINCIPAL GLOBAL INVESTORS, LLC | 109002 | $427.71B | $427.71B | 1,394 | 2026-05-31 | → |
| 31 | KOHLBERG KRAVIS ROBERTS & CO. L.P. | 144533 | $399.90B | $399.90B | 2,593 | 2026-06-30 | → |
| 32 | NEUBERGER BERMAN INVESTMENT ADVISERS LLC | 124687 | $398.65B | $398.65B | 1,542 | 2026-03-31 | → |
| 33 | BARINGS LLC | 106006 | $392.75B | $392.75B | 1,101 | 2026-05-31 | → |
| 34 | RAYMOND JAMES FINANCIAL SERVICES ADVISORS, INC | 149018 | $390.04B | $390.04B | 9,675 | 2026-06-30 | → |
| 35 | VANGUARD ADVISERS, INC. | 106715 | $344.62B | $344.62B | 2,208 | 2026-05-31 | → |
| 36 | RBC CAPITAL MARKETS, LLC | 31194 | $310.43B | $310.43B | 8,781 | 2026-06-30 | → |
| 37 | SAMSUNG ASSET MANAGEMENT COMPANY, LTD. | 158319 | $300.82B | $300.82B | 460 | 2026-04-30 | → |
| 38 | CETERA INVESTMENT ADVISERS LLC | 105644 | $256.81B | $256.81B | 10,251 | 2026-06-30 | → |
| 39 | WELLS FARGO ADVISORS FINANCIAL NETWORK, LLC | 11025 | $252.25B | $252.25B | 4,047 | 2026-06-30 | → |
| 40 | OSAIC WEALTH, INC. | 23131 | $234.86B | $234.86B | 8,979 | 2026-06-30 | → |
| 41 | DWS INTERNATIONAL GMBH | 105075 | $228.87B | $228.87B | 703 | 2026-05-31 | → |
| 42 | SEI INVESTMENTS MANAGEMENT CORP | 105146 | $216.43B | $216.43B | 434 | 2026-03-31 | → |
| 43 | COMMONWEALTH EQUITY SERVICES, LLC | 8032 | $212.66B | $212.66B | 4,200 | 2026-05-31 | → |
| 44 | NORTHERN TRUST GLOBAL INVESTMENTS LTD | 111900 | $208.39B | $208.39B | 115 | 2026-03-31 | → |
| 45 | OLIVE STREET INVESTMENT ADVISERS, LLC | 166710 | $203.76B | $203.76B | 232 | 2026-03-31 | → |
| 46 | HIGHTOWER ADVISORS, LLC | 145323 | $198.58B | $198.58B | 1,983 | 2026-05-31 | → |
| 47 | STIFEL, NICOLAUS & COMPANY, INCORPORATED | 793 | $197.53B | $197.53B | 6,478 | 2026-06-30 | → |
| 48 | INVESCO ASSET MANAGEMENT LTD. | 109985 | $187.60B | $187.60B | 930 | 2026-03-31 | → |
| 49 | MACQUARIE INVESTMENT MANAGEMENT GLOBAL LIMITED | 277065 | $187.35B | $187.35B | 227 | 2026-06-30 | → |
| 50 | RBC GLOBAL ASSET MANAGEMENT (UK) LIMITED | 168551 | $178.01B | $178.01B | 471 | 2026-04-30 | → |
| 51 | MORGAN STANLEY INVESTMENT MANAGEMENT LIMITED | 105922 | $174.54B | $174.54B | 222 | 2026-06-30 | → |
| 52 | BLACKROCK CAPITAL MANAGEMENT, INC. | 108069 | $172.62B | $172.62B | 79 | 2026-06-30 | → |
| 53 | EQUITABLE INVESTMENT MANAGEMENT GROUP, LLC | 156933 | $167.15B | $167.15B | 67 | 2026-03-31 | → |
| 54 | CIBC ASSET MANAGEMENT INC. | 106508 | $162.84B | $162.84B | 478 | 2026-06-30 | → |
| 55 | CERITY PARTNERS LLC | 151559 | $161.68B | $161.68B | 1,529 | 2026-06-30 | → |
| 56 | BOSTON MANAGEMENT AND RESEARCH | 104853 | $154.73B | $154.73B | 203 | 2026-03-31 | → |
| 57 | IFM INVESTORS PTY LTD | 162754 | $152.93B | $152.93B | 717 | 2025-11-30 | → |
| 58 | ICAPITAL ADVISORS, LLC | 177513 | $149.86B | $149.86B | 552 | 2026-05-31 | → |
| 59 | NOMURA INVESTMENT MANAGEMENT BUSINESS TRUST | 105390 | $144.04B | $144.04B | 778 | 2026-06-30 | → |
| 60 | NUVEEN ALTERNATIVES ADVISORS LLC | 160255 | $142.02B | $142.02B | 87 | 2026-04-30 | → |
| 61 | BLACKROCK ASSET MANAGEMENT NORTH ASIA LIMITED | 165482 | $140.25B | $140.25B | 508 | 2026-06-30 | → |
| 62 | GOLDMAN SACHS & CO. LLC | 361 | $133.64B | $133.64B | 2,268 | 2026-06-30 | → |
| 63 | THRIVENT FINANCIAL FOR LUTHERANS | 115785 | $128.73B | $128.73B | 4,220 | 2026-06-30 | → |
| 64 | LAZARD ASSET MANAGEMENT LLC | 122836 | $120.52B | $120.52B | 532 | 2026-03-31 | → |
| 65 | ICICI PRUDENTIAL ASSET MANAGEMENT COMPANY LIMITED | 312825 | $117.06B | $117.06B | 3,585 | 2026-06-30 | → |
| 66 | VISTA EQUITY PARTNERS MANAGEMENT, LLC | 156973 | $106.02B | $106.02B | 643 | 2026-03-31 | → |
| 67 | PRINCIPAL REAL ESTATE INVESTORS, LLC | 109008 | $105.65B | $105.65B | 477 | 2026-05-31 | → |
| 68 | RBC GLOBAL ASSET MANAGEMENT (U.S.) INC. | 107173 | $104.49B | $104.49B | 212 | 2026-05-31 | → |
| 69 | ROCKEFELLER FINANCIAL LLC | 291361 | $99.60B | $99.60B | 1,005 | 2026-03-31 | → |
| 70 | ARES CAPITAL MANAGEMENT LLC | 131619 | $97.62B | $97.62B | 634 | 2026-05-31 | → |
| 71 | EATON VANCE MANAGEMENT | 104859 | $97.02B | $97.02B | 219 | 2026-05-31 | → |
| 72 | BLUE OWL GPSC ADVISORS LLC | 293945 | $94.65B | $94.65B | 40 | 2026-04-30 | → |
| 73 | VANGUARD INVESTMENTS AUSTRALIA LIMITED | 282933 | $92.43B | $92.43B | 110 | 2025-05-31 | → |
| 74 | J.P. MORGAN PRIVATE WEALTH ADVISORS LLC | 108559 | $86.27B | $86.27B | 690 | 2025-01-31 | → |
| 75 | MERCER GLOBAL ADVISORS INC. | 147363 | $84.40B | $84.40B | 1,429 | 2026-05-31 | → |
| 76 | STONEPEAK PARTNERS LP | 159699 | $81.91B | $81.91B | 359 | 2026-04-30 | → |
| 77 | RUSSELL INVESTMENTS IMPLEMENTATION SERVICES, LLC | 329 | $81.09B | $81.09B | 569 | 2026-03-31 | → |
| 78 | KESTRA ADVISORY SERVICES, LLC | 283330 | $79.80B | $79.80B | 1,359 | 2026-06-30 | → |
| 79 | TRUIST ADVISORY SERVICES, INC. | 283390 | $77.39B | $77.39B | 2,461 | 2026-06-30 | → |
| 80 | INVESCO ASSET MANAGEMENT (JAPAN) LIMITED | 107155 | $76.06B | $76.06B | 116 | 2026-03-31 | → |
| 81 | RBC ROCHDALE, LLC | 117198 | $72.96B | $72.96B | 269 | 2026-05-31 | → |
| 82 | BLACKROCK (SINGAPORE) LIMITED | 164594 | $70.33B | $70.33B | 236 | 2026-06-30 | → |
| 83 | BETTERMENT LLC | 149117 | $69.52B | $69.52B | 794 | 2026-06-30 | → |
| 84 | RUSSELL INVESTMENT MANAGEMENT, LLC | 105734 | $68.60B | $68.60B | 569 | 2026-04-30 | → |
| 85 | BLUE OWL REAL ESTATE CAPITAL LLC | 165132 | $67.88B | $67.88B | 130 | 2026-05-31 | → |
| 86 | BLACKROCK CAPITAL INVESTMENT ADVISORS, LLC | 290336 | $66.93B | $66.93B | 39 | 2026-06-30 | → |
| 87 | TRANSAMERICA ASSET MANAGEMENT, INC. | 107376 | $65.94B | $65.94B | 53 | 2026-05-31 | → |
| 88 | WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC | 173961 | $65.60B | $65.60B | 388 | 2026-04-30 | → |
| 89 | BLUE OWL CREDIT ADVISORS LLC | 282575 | $64.86B | $64.86B | 250 | 2026-03-31 | → |
| 90 | USI ADVISORS, INC. | 108113 | $56.28B | $56.28B | 79 | 2026-03-31 | → |
| 91 | CITIGROUP GLOBAL MARKETS INC. | 7059 | $56.01B | $56.01B | 7,036 | 2026-06-30 | → |
| 92 | VERITAS CAPITAL FUND MANAGEMENT, L.L.C. | 157123 | $53.81B | $53.81B | 146 | 2026-03-31 | → |
| 93 | MACQUARIE INFRASTRUCTURE PARTNERS INC. | 146696 | $48.84B | $48.84B | 255 | 2026-06-30 | → |
| 94 | INVESCO MANAGEMENT S.A. | 143238 | $48.69B | $48.69B | 357 | 2026-03-31 | → |
| 95 | WEALTHFRONT ADVISERS LLC | 148456 | $47.73B | $47.73B | 432 | 2026-05-31 | → |
| 96 | AVANTAX ADVISORY SERVICES, INC. | 104556 | $46.11B | $46.11B | 2,278 | 2025-03-31 | → |
| 97 | NEWEDGE ADVISORS, LLC | 171351 | $43.21B | $43.21B | 1,073 | 2026-06-30 | → |
| 98 | WELLS FARGO INVESTMENT INSTITUTE, INC. | 133204 | $43.00B | $43.00B | 225 | 2026-03-31 | → |
| 99 | EQUITABLE ADVISORS, LLC | 6627 | $42.48B | $42.48B | 5,674 | 2026-05-31 | → |
| 100 | D.A. DAVIDSON & CO. | 199 | $41.84B | $41.84B | 990 | 2026-01-31 | → |
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