Research Report · 2026-05-31
Top 100 Registered Investment Advisers by Employees
The largest SEC-registered investment advisers ranked by latest reported employee count from ADV Part 1 filings.
Firms
100
Total AUM
$62.62T
Median AUM
$178.40B
Latest Filing
2026-05-31
| Rank↕ | Firm Name | CRD↕ | Employees↕ | AUM↕ | Employees↕ | Latest Filing | |
|---|---|---|---|---|---|---|---|
| 1 | LPL FINANCIAL LLC | 6413 | 41,879 | $819.12B | 41,879 | 2026-05-31 | → |
| 2 | EDWARD D. JONES & CO., L.P. | 250 | 36,317 | $1.01T | 36,317 | 2026-05-31 | → |
| 3 | MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED | 7691 | 32,960 | $1.78T | 32,960 | 2026-05-31 | → |
| 4 | MORGAN STANLEY SMITH BARNEY LLC | 149777 | 29,481 | $1.96T | 29,481 | 2026-05-31 | → |
| 5 | WELLS FARGO CLEARING SERVICES, LLC | 19616 | 18,895 | $671.42B | 18,895 | 2026-05-31 | → |
| 6 | STRATEGIC ADVISERS LLC | 104555 | 17,112 | $1.37T | 17,112 | 2026-03-31 | → |
| 7 | RAYMOND JAMES & ASSOCIATES, INC. | 705 | 16,780 | $500.96B | 16,780 | 2026-03-31 | → |
| 8 | FIDELITY PERSONAL AND WORKPLACE ADVISORS LLC | 288590 | 15,424 | $818.78B | 15,424 | 2025-03-31 | → |
| 9 | AMERIPRISE FINANCIAL SERVICES, LLC | 6363 | 14,056 | $660.47B | 14,056 | 2026-04-30 | → |
| 10 | FIFTH THIRD SECURITIES, INC. | 628 | 13,533 | $10.92B | 13,533 | 2026-05-31 | → |
| 11 | UBS FINANCIAL SERVICES INC. | 8174 | 12,524 | $915.79B | 12,524 | 2026-03-31 | → |
| 12 | CETERA INVESTMENT ADVISERS LLC | 105644 | 10,251 | $256.81B | 10,251 | 2026-04-30 | → |
| 13 | RAYMOND JAMES FINANCIAL SERVICES ADVISORS, INC | 149018 | 9,675 | $390.04B | 9,675 | 2026-04-30 | → |
| 14 | OSAIC WEALTH, INC. | 23131 | 8,979 | $234.86B | 8,979 | 2026-05-31 | → |
| 15 | RBC CAPITAL MARKETS, LLC | 31194 | 8,781 | $310.43B | 8,781 | 2026-05-31 | → |
| 16 | J.P. MORGAN SECURITIES LLC | 79 | 8,703 | $429.69B | 8,703 | 2026-05-31 | → |
| 17 | EMPOWER ADVISORY GROUP, LLC | 112058 | 8,051 | $195.43B | 8,051 | 2026-05-31 | → |
| 18 | BLACKROCK FINANCIAL MANAGEMENT, INC | 107105 | 7,987 | $1.60T | 7,987 | 2026-05-31 | → |
| 19 | STATE FARM INVESTMENT MANAGEMENT CORP. | 3487 | 7,930 | $12.94B | 7,930 | 2026-04-30 | → |
| 20 | CITIGROUP GLOBAL MARKETS INC. | 7059 | 7,036 | $56.01B | 7,036 | 2026-05-31 | → |
| 21 | MML INVESTORS SERVICES, LLC | 10409 | 6,976 | $115.64B | 6,976 | 2026-05-31 | → |
| 22 | MILLENNIUM MANAGEMENT LLC | 158117 | 6,670 | $720.85B | 6,670 | 2026-03-31 | → |
| 23 | STIFEL, NICOLAUS & COMPANY, INCORPORATED | 793 | 6,478 | $197.53B | 6,478 | 2026-05-31 | → |
| 24 | MITSUBISHI UFJ TRUST AND BANKING CORPORATION | 296868 | 6,300 | $384.05B | 6,300 | 2026-04-30 | → |
| 25 | EQUITABLE ADVISORS, LLC | 6627 | 5,674 | $42.48B | 5,674 | 2026-05-31 | → |
| 26 | LPL ENTERPRISE, LLC | 8733 | 5,215 | $24.94B | 5,215 | 2026-03-31 | → |
| 27 | FISHER ASSET MANAGEMENT, LLC | 107342 | 4,369 | $386.67B | 4,369 | 2026-04-30 | → |
| 28 | ROBERT W. BAIRD & CO. INCORPORATED | 8158 | 4,322 | $394.07B | 4,322 | 2026-04-30 | → |
| 29 | THRIVENT FINANCIAL FOR LUTHERANS | 115785 | 4,220 | $128.73B | 4,220 | 2026-03-31 | → |
| 30 | ALLIANCEBERNSTEIN L.P. | 108477 | 4,204 | $763.40B | 4,204 | 2026-03-31 | → |
| 31 | COMMONWEALTH EQUITY SERVICES, LLC | 8032 | 4,200 | $212.66B | 4,200 | 2026-05-31 | → |
| 32 | WELLS FARGO ADVISORS FINANCIAL NETWORK, LLC | 11025 | 4,047 | $252.25B | 4,047 | 2026-05-31 | → |
| 33 | PFS INVESTMENTS INC. | 10111 | 3,992 | $15.54B | 3,992 | 2026-03-31 | → |
| 34 | ARES MANAGEMENT LLC | 130074 | 3,990 | $458.82B | 3,990 | 2026-05-31 | → |
| 35 | THRIVENT INVESTMENT MANAGEMENT INC. | 18387 | 3,901 | $20.77B | 3,901 | 2026-04-30 | → |
| 36 | T. ROWE PRICE ASSOCIATES, INC. | 105496 | 3,760 | $2.20T | 3,760 | 2026-03-31 | → |
| 37 | ICICI PRUDENTIAL ASSET MANAGEMENT COMPANY LIMITED | 312825 | 3,722 | $113.23B | 3,722 | 2025-06-30 | → |
| 38 | APOLLO CAPITAL MANAGEMENT, L.P. | 143161 | 3,564 | $718.48B | 3,564 | 2026-05-31 | → |
| 39 | APOLLO CREDIT MANAGEMENT, LLC | 156115 | 3,564 | $29.97B | 3,564 | 2026-03-31 | → |
| 40 | APOLLO REAL ESTATE FUND ADVISER, LLC | 169120 | 3,564 | $4.27B | 3,564 | 2026-03-31 | → |
| 41 | APOLLO MANAGER, LLC | 327828 | 3,564 | $3.56B | 3,564 | 2026-03-31 | → |
| 42 | APOLLO INVESTMENT MANAGEMENT, L.P. | 130610 | 3,564 | $3.32B | 3,564 | 2026-03-31 | → |
| 43 | APOLLO CAPITAL CREDIT ADVISER, LLC | 286485 | 3,564 | $2.35B | 3,564 | 2026-03-31 | → |
| 44 | ARIS MANAGEMENT, LLC | 317315 | 3,564 | $2.08B | 3,564 | 2026-03-31 | → |
| 45 | APOLLO S3 RIC MANAGEMENT, L.P. | 330339 | 3,564 | $423.8M | 3,564 | 2026-03-31 | → |
| 46 | CAMBRIDGE INVESTMENT RESEARCH ADVISORS, INC. | 134139 | 3,527 | $138.69B | 3,527 | 2026-05-31 | → |
| 47 | POINT72 ASSET MANAGEMENT, L.P. | 283077 | 3,345 | $274.10B | 3,345 | 2026-05-31 | → |
| 48 | CITADEL ADVISORS LLC | 148826 | 3,284 | $570.62B | 3,284 | 2026-05-31 | → |
| 49 | J.P. MORGAN INVESTMENT MANAGEMENT INC. | 107038 | 3,194 | $3.52T | 3,194 | 2026-05-31 | → |
| 50 | OPPENHEIMER & CO. INC. | 249 | 2,806 | $36.71B | 2,806 | 2026-05-31 | → |
| 51 | INVESCO ADVISERS, INC. | 105360 | 2,804 | $749.52B | 2,804 | 2026-03-31 | → |
| 52 | EAGLE STRATEGIES LLC | 110826 | 2,804 | $25.40B | 2,804 | 2026-03-31 | → |
| 53 | KOHLBERG KRAVIS ROBERTS & CO. L.P. | 144533 | 2,516 | $381.60B | 2,516 | 2026-03-31 | → |
| 54 | TRUIST ADVISORY SERVICES, INC. | 283390 | 2,461 | $77.39B | 2,461 | 2026-04-30 | → |
| 55 | BALYASNY ASSET MANAGEMENT L.P. | 138111 | 2,434 | $248.14B | 2,434 | 2026-03-31 | → |
| 56 | JANNEY MONTGOMERY SCOTT LLC | 463 | 2,404 | $110.11B | 2,404 | 2026-03-31 | → |
| 57 | AVANTAX ADVISORY SERVICES, INC. | 104556 | 2,278 | $46.11B | 2,278 | 2025-03-31 | → |
| 58 | GOLDMAN SACHS & CO. LLC | 361 | 2,268 | $133.64B | 2,268 | 2026-03-31 | → |
| 59 | SBI FUNDS MANAGEMENT LIMITED | 142968 | 2,229 | $174.93B | 2,229 | 2025-06-30 | → |
| 60 | VANGUARD ADVISERS, INC. | 106715 | 2,208 | $344.62B | 2,208 | 2026-05-31 | → |
| 61 | OSAIC ADVISORY SERVICES, LLC | 171070 | 2,180 | $15.48B | 2,180 | 2026-05-31 | → |
| 62 | U.S. BANCORP INVESTMENTS, INC. | 17868 | 2,148 | $22.94B | 2,148 | 2026-03-31 | → |
| 63 | PARK AVENUE SECURITIES LLC | 46173 | 2,073 | $19.58B | 2,073 | 2026-04-30 | → |
| 64 | ANDERSEN TAX LLC | 124205 | 2,061 | $6.35B | 2,061 | 2026-03-31 | → |
| 65 | GOLDMAN SACHS ASSET MANAGEMENT, L.P. | 107738 | 2,059 | $2.65T | 2,059 | 2026-05-31 | → |
| 66 | PGIM, INC. | 105676 | 1,990 | $1.13T | 1,990 | 2026-04-30 | → |
| 67 | HIGHTOWER ADVISORS, LLC | 145323 | 1,983 | $198.58B | 1,983 | 2026-05-31 | → |
| 68 | PACIFIC INVESTMENT MANAGEMENT COMPANY LLC | 104559 | 1,968 | $3.67T | 1,968 | 2026-05-31 | → |
| 69 | GOLDMAN SACHS WEALTH SERVICES, L.P. | 106693 | 1,923 | $31.69B | 1,923 | 2026-05-31 | → |
| 70 | FOCUS PARTNERS WEALTH, LLC | 159289 | 1,915 | $181.86B | 1,915 | 2026-04-30 | → |
| 71 | MARINER, LLC | 140195 | 1,889 | $125.41B | 1,889 | 2026-03-31 | → |
| 72 | WELLINGTON MANAGEMENT COMPANY LLP | 106595 | 1,868 | $1.43T | 1,868 | 2026-03-31 | → |
| 73 | CAPFINANCIAL PARTNERS, LLC | 175112 | 1,841 | $1.24T | 1,841 | 2026-05-31 | → |
| 74 | OSAIC INSTITUTIONS, INC. | 35371 | 1,839 | $6.49B | 1,839 | 2026-05-31 | → |
| 75 | BROOKFIELD ASSET MANAGEMENT PIC US, LLC | 151599 | 1,790 | $105.30B | 1,790 | 2026-04-30 | → |
| 76 | FIRST COMMAND ADVISORY SERVICES | 281958 | 1,787 | $24.43B | 1,787 | 2026-03-31 | → |
| 77 | RATHBONES INVESTMENT MANAGEMENT LIMITED | 124925 | 1,715 | $135.09B | 1,715 | 2026-03-31 | → |
| 78 | PNC WEALTH MANAGEMENT | 129052 | 1,713 | $30.27B | 1,713 | 2026-05-31 | → |
| 79 | THE VANGUARD GROUP, INC. | 105958 | 1,702 | $11.09T | 1,702 | 2026-05-31 | → |
| 80 | WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | 116407 | 1,700 | $122.19B | 1,700 | 2026-04-30 | → |
| 81 | THE VARIABLE ANNUITY LIFE INSURANCE COMPANY | 104561 | 1,700 | $32.94B | 1,700 | 2026-05-31 | → |
| 82 | FINANCIAL ENGINES ADVISORS L.L.C. | 104510 | 1,679 | $326.29B | 1,679 | 2026-03-31 | → |
| 83 | CREATIVE PLANNING, LLC | 105348 | 1,650 | $295.57B | 1,650 | 2026-03-31 | → |
| 84 | VALIC FINANCIAL ADVISORS, INC. | 42803 | 1,647 | $29.22B | 1,647 | 2026-05-31 | → |
| 85 | OSAIC FA, INC. | 3978 | 1,607 | $37.13B | 1,607 | 2025-01-31 | → |
| 86 | BLACKROCK INVESTMENT MANAGEMENT, LLC | 108928 | 1,589 | $676.69B | 1,589 | 2026-05-31 | → |
| 87 | BAILLIE GIFFORD OVERSEAS LTD | 110296 | 1,583 | $144.00B | 1,583 | 2026-05-31 | → |
| 88 | TWO SIGMA INVESTMENTS, LP | 137137 | 1,555 | $232.82B | 1,555 | 2026-03-31 | → |
| 89 | NEUBERGER BERMAN INVESTMENT ADVISERS LLC | 124687 | 1,542 | $398.65B | 1,542 | 2026-03-31 | → |
| 90 | CORIENT PRIVATE WEALTH LLC | 319448 | 1,537 | $165.25B | 1,537 | 2026-03-31 | → |
| 91 | CERITY PARTNERS LLC | 151559 | 1,529 | $161.68B | 1,529 | 2026-05-31 | → |
| 92 | PRINCIPAL SECURITIES, INC. | 1137 | 1,464 | $17.02B | 1,464 | 2026-03-31 | → |
| 93 | RBC PRIVATE COUNSEL (USA) INC. | 109648 | 1,455 | $7.89B | 1,455 | 2026-05-31 | → |
| 94 | M HOLDINGS SECURITIES, INC. | 43285 | 1,442 | $3.21B | 1,442 | 2026-03-31 | → |
| 95 | MERCER GLOBAL ADVISORS INC. | 147363 | 1,429 | $84.40B | 1,429 | 2026-05-31 | → |
| 96 | FIDELITY MANAGEMENT & RESEARCH COMPANY LLC | 108281 | 1,427 | $5.69T | 1,427 | 2026-03-31 | → |
| 97 | BAM CREDIT AND INSURANCE SOLUTIONS ADVISOR LLC | 312792 | 1,421 | $107.29B | 1,421 | 2026-03-31 | → |
| 98 | CAPITAL RESEARCH AND MANAGEMENT COMPANY | 110885 | 1,417 | $3.75T | 1,417 | 2026-05-31 | → |
| 99 | CWM, LLC | 155344 | 1,416 | $50.58B | 1,416 | 2026-05-31 | → |
| 100 | BROOKFIELD ASSET MANAGEMENT PIC CANADA, LP | 151605 | 1,413 | $152.13B | 1,413 | 2026-04-30 | → |
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