3 Largest Registered Investment Advisors (RIAs) in Texas

2. Victory Capital Management = ~$157B+ in AUM

Established in 2013, Victory Capital Management is a San Antonio, Texas-based global asset management firm with additional offices in Cleveland, Cincinnati and Rocky River, OH; San Francisco, CA; Denver, CO; Birmingham, MI; New York, NY; Boston, MA; and Des Moines, IA. The firm operates a next-generation business model that combines boutique investment qualities with the benefits of a fully integrated, centralized operating and distribution platform. Victory Capital provides specialized investment strategies to institutions, intermediaries, retirement platforms and individual investors - offering an array of investment approaches designed to drive strong outcomes. This includes actively managed mutual funds and separately managed accounts, rules-based and active ETFs, multi-asset class strategies, custom solutions and a 529 College Savings Plan. Victory Capital Management's investment model provides a diversified suite of products across asset classes, investment return streams, product types and business channels.

Quick Hitters:

- Founded: 2013
- Headquarters: San Antonio, Texas
- Discretionary Assets: ~$153B+
- Non-Discretionary Assets: $3.89B+
- Total AUM: ~$157B+
- Specialties: Domestic equity, international equity, fixed income and mixed asset class services 

3. TPG Global Advisors, LLC = ~$86B+ in AUM

Founded in 1992, TPG Global Advisors, LLC is a global investment firm headquartered in San Francisco, California, and Fort Worth, Texas, with approximately $86 billion in assets under management and 14 additional offices around the world. For over 25 years, the firm has built an ecosystem made up of hundreds of portfolio companies and a value-added network of professionals, executives and advisors. Dedicated to delivering differentiated returns for investors and their beneficiaries, TPG's investment strategy embraces change, takes on complexity and creates unique opportunities. This ecosystem drives insight and engagement, which are critical to the firm's approach to investing, value creation and culture. 

Quick Hitters:

- Founded: 1992
- Headquarters: Fort Worth, Texas (San Francisco, CA; amongst other locations)
- Discretionary Assets: ~$86B+
- Non-Discretionary Assets: $0
- Total AUM: ~$86B+
- Specialties: Private equity, growth equity, real estate, credit and public equity 

RIA Review:

In general terms, a registered investment advisor (RIA) is a firm advising or managing the wealth of high-net-worth individuals or institutions. Directly regulated by the Securities Exchange Commission (SEC), RIAs offer a wide range of financial services — from wealth and investment management to direct lending and personal finance education, etc. An important distinction regarding RIAs is the fiduciary obligation to always act in the best interest of their clients.

For more information on RIAs, check out our recent blog post: Exploring the Registered Investment Advisor (RIA) Channel, or visit the FINTRX Resource Library below.