Registered Investment Advisers (RIAs): Breakdown of Top 5 States

Below, we examine the top five US states with the highest number of registered investment advisers (RIAs) as of August 2020:

1. California tops the list with the most number of RIAs in the United States, 4,493+. 
2. New York comes in second, with 3,464+ RIAs. 
3. Texas places third, with roughly 1,875+ RIAs. 
4. Florida comes in fourth, with 1,349+ RIAs. 
5. Massachusetts caps off our list, with an estimated 1,201+ RIAs in operation today.  

These 5 states make up more than 1/3 of all RIAs active today.

RIAs make up a broad range of groups throughout the financial landscape - including wealth advisers, hedge funds, retail investment advisories, private equity firms, multi-family offices and numerous other groups that manage institutional capital. From data we have gathered at FINTRX, we estimate there to be about 34,924 registered investment advisers currently, with over 405,000 contacts. RIAs throughout the United States are proving their ability to manage risk and volatility while still producing fruitful returns for clients. Although significant uncertainty may remain, the figures above suggest these key industry players are making every effort to remain proactive, agile and resilient throughout these times. 

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