RIA Industry Spotlight: 3 Women-Owned Firms with $1B+ in AUM

Utilizing FINTRX's comprehensive private wealth data intelligence platform, we have compiled the RIA Industry Spotlight series to provide insights into the diverse range of firms operating in the RIA landscape. By tapping into FINTRX's robust database of RIA profiles, we can better understand the trends shaping this segment of the wealth management space. In this edition, we turn our attention to three women-owned firms, each with over $1 billion in assets under management (AUM)...

1. Bedel Financial Consulting, Inc.

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Bedel Financial Consulting Inc. is a prominent women-owned firm with over $1.8 billion in assets under management. Founded by Elaine Bedel in 1989, Bedel Financial Consulting has built a stellar reputation for providing an array of services including retirement planning, investment management, tax planning, estate planning, risk management and charitable giving strategies. to high-net-worth individuals, families, businesses and charitable organizations. Throughout its history, Bedel has received numerous accolades for its excellence in wealth management and has been recognized as one of the Top 25 Woman-Owned RIAs in the country. The firm utilizes multiple custodians including Charles Schwab and Fidelity.

- Founded: 1989
- Headquarters: Indianapolis, IN
- Total Employees: 26
- Total Reps: 15
- Estimated AUM: $1.81B+
- Discretionary AUM: $1.8B+
- Non-Discretionary AUM: $1.1M+
- Client Base: Individual & Family; Institutional
- Fee Structure: Percentage of AUM; Fixed Fees
- Specialties: Financial Planning Services; Portfolio Management for Individuals, Businesses or Institutions; Pension Consulting

2. Elser Financial Planning, Inc.

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Founded in 2007 and headquartered in Indianapolis, IN, Elser Financial Planning, Inc. is a women-owned financial powerhouse, boasting an impressive $1.3 billion in AUM. Under the leadership of Susan Elser, CFP, the firm has earned a sterling reputation for providing comprehensive financial planning and investment advisory services to high-net-worth individuals, businesses, and corporations. Elser Financial offers fee-only, client-centric wealth management, guiding clients through meticulous goal evaluation, tax-efficient investment strategies, portfolio rebalancing and proactive scenario analysis. Their expertise extends to building tax-efficient, globally-diversified and cost-effective portfolios, all aligned with clients’ unique risk profiles. Beyond investment management, the firm excels in estate and legacy planning, charitable giving and insurance consultations. Elser Financial Planning uses Charles Schwab as its sole custodian and houses all assets with the group.

- Founded: 2007
- Headquarters: Indianapolis, IN
- Total Employees: 12
- Total Reps: 8
- Assets Under Management (AUM): $1.38B+
- Discretionary AUM: $660.7M
- Non-Discretionary AUM: $719.2M
- Client Base: Individual & Family; Institutional
- Fee Structure: Percentage of AUM; Hourly Charges; Fixed Fees
- Specialties: Financial Planning Services; Portfolio Management for Individuals/Small Businesses

3. Key Financial, Inc.

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Based in West Chester, PA, Key Financial, Inc. is a distinguished woman-owned firm led by CEO, President, and principal owner Patricia Brennan. With over 25 years of visionary leadership, Patricia has overseen the firm’s growth to an estimated $1.75 billion in assets under management. Key Financial is renowned for its top-tier investment and portfolio management services, catering to high-net-worth individuals and families. Key Financial has earned recognition via industry accolades such as Forbes Best-In-State Wealth Advisors, Forbes Top Women Wealth Advisors and  Barron’s Top 100 Women Advisors, among others. The firm prioritizes client-centric service, partnering with Pershing LLC as their sole custodian to safeguard client assets.

- Founded: 1985
- Headquarters: West Chester, PA
- Total Employees: 32
- Total Reps: 11
- Estimated AUM: $1.75B+
- Discretionary AUM: $1.495B
- Non-Discretionary AUM: $257.5M
- Client Base: Individual & Family
- Fee Structure: Percentage of AUM; Fixed Fees; Commissions; Other
- Specialties: Financial Planning Services; Portfolio Management for Individuals/Small Businesses; Educational Seminars/Workshops

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