How many RIAs are in Maryland?

230 RIAs registered with the SEC list a main office in Maryland in the SEC's Form ADV data as of Sep 1, 2026. That count excludes state-registered RIAs, which generally manage under $100 million and file with the state rather than the SEC, and firms whose address is suppressed on Form ADV.

What is the largest RIA in Maryland?

By regulatory assets under management as filed on Form ADV, the largest SEC-registered RIA headquartered in Maryland is T. Rowe Price Associates, Inc. in Baltimore, at $2.20T. Regulatory AUM counts all assets a firm manages, so the largest filer in a state is often an asset manager rather than a wealth manager.

How many Maryland RIAs manage more than $1 billion?

73 of the 230 SEC-registered RIAs headquartered in Maryland report regulatory assets under management of $1 billion or more. The median firm in the state reports $459.3M.

Where does this data come from?

From the SEC's monthly Form ADV data file for SEC-registered investment advisers (ia09012026-registered.zip, data as of Sep 1, 2026). Each figure is as the firm itself reported it on Form ADV Item 5; the SEC does not verify it. Every row links to the firm's record on the SEC's Investment Adviser Public Disclosure site.

Back to the map

Top RIAs in Maryland

Every SEC-registered RIA with a main office in Maryland, by regulatory AUM, from Form ADV

230 RIAs registered with the SEC are headquartered in Maryland, the 18th most of any state, managing $3.10T in regulatory assets as of Sep 1, 2026. The largest by regulatory AUM is T. Rowe Price Associates, Inc. in Baltimore at $2.20T. 73 firms report $1 billion or more.

230

SEC-registered RIAs

$3.10T

Regulatory AUM

Firms at $1B and above

$459.3M

Median firm AUM

Data as of Sep 1, 2026, file ia09012026-registered.zip. Retrieved Sep 10, 2026.

01 · The firms

Every SEC-registered RIA in Maryland, by regulatory AUM

The default sort is regulatory assets under management as each firm filed it, which puts asset managers and wealth managers on one list. The toggle for firms where individuals and high-net-worth individuals hold the majority of assets is what separates them, using the firm's own Form ADV Item 5.D figures.

All 230 firms, by regulatory AUM as filed.

#	Firm	City	Regulatory AUM	Advisory staff	Accounts	Individual + HNW clients	Retail share	Filed
1	T. Rowe Price Associates, Inc.CRD 105496	Baltimore	$2.20T	545	6,889	861	0%	Jul 2026
2	T.rowe Price Investment Management, Inc.CRD 314590	Baltimore	$204.2B	105	72	0	0%	Jul 2026
3	Brown AdvisoryCRD 110181	Baltimore	$124.3B	272	26,390	3,229	39%	Mar 2026
4	Proshare Advisors LLCCRD 134155	Bethesda	$85.3B	35	145	n.d.	0%	Mar 2026
5	PNC Capital Advisors LLCCRD 151829	Baltimore	$50.9B	22	624	0	0%	Mar 2026
6	Chevy Chase Trust CompanyCRD 110742	Bethesda	$44.9B	42	5,097	1,177	28%	Mar 2026
7	ASB Capital Management LLCCRD 110995	Bethesda	$36.7B	33	84	1	0%	Apr 2026
8	1919 Investment Counsel, LLCCRD 133370	Baltimore	$26.0B	52	5,169	4,866	76%	Aug 2026
9	Arlington Capital PartnersCRD 160265	Bethesda	$18.2B	31	5	n.d.	0%	Mar 2026
10	Durable Capital Partners LPCRD 305221	Bethesda	$17.6B	14	5	n.d.	0%	Jul 2026
11	Ullico Investment Advisors, Inc.CRD 106628	Bethesda	$13.9B	58	25	0	0%	Aug 2026
12	JMI Management, L.P.CRD 158344	Baltimore	$13.6B	44	20	n.d.	0%	Jun 2026
13	Artemis Real Estate PartnersCRD 160668	Chevy Chase	$11.4B	61	31	n.d.	0%	Mar 2026
14	RealtermCRD 322689	Annapolis	$10.9B	109	16	n.d.	0%	May 2026
15	Brown Advisory Investment Solutions Group LLCCRD 124612	Baltimore	$9.8B	18	510	n.d.	7%	Apr 2026
16	D.F. Dent and Company, Inc.CRD 105179	Baltimore	$7.9B	16	1,171	1,011	58%	Jun 2026
17	Midcap Financial Services Capital Management, LLCCRD 285820	Bethesda	$7.3B	122	12	n.d.	0%	May 2026
18	Harbor Investment Advisory, LLCCRD 151085	Lutherville	$6.9B	30	3,540	3,357	42%	Aug 2026
19	T. Rowe Price (Canada), Inc.CRD 107290	Baltimore	$6.6B	9	32	0	0%	Jul 2026
20	Greenspring Advisors, LLCCRD 132669	Towson	$6.5B	39	7,119	1,697	67%	Jun 2026
21	T. Rowe Price Advisory Services, Inc.CRD 108958	Owings Mills	$5.9B	66	13,518	13,517	100%	Aug 2026
22	Profund Advisors LLCCRD 109585	Bethesda	$5.2B	35	118	n.d.	0%	Mar 2026
23	Asset Strategy Consultants LLCCRD 110800	Hunt Valley	$5.2B	11	48	14	2%	Jun 2026
24	Pennington Partners & Co., LLCCRD 282688	Bethesda	$5.1B	10	1,026	102	90%	Apr 2026
25	Prosperity - AN Eisneramper CompanyCRD 133777	Owings Mills	$5.0B	60	7,473	2,369	99%	Aug 2026
26	Impactassets Capital Partners PB LLCCRD 317840	Bethesda	$4.9B	15	7	n.d.	0%	Jun 2026
27	G10 LLCCRD 322876	Hunt Valley	$4.9B	14	179	84	2%	Jul 2026
28	Heritage Investors Management CorpCRD 110420	Bethesda	$4.6B	8	1,465	682	87%	Aug 2026
29	Verdence Capital Advisors, LLCCRD 288512	Hunt Valley	$4.6B	29	7,802	1,798	94%	May 2026
30	Hull Street EnergyCRD 291881	Bethesda	$4.6B	20	12	n.d.	0%	Jun 2026
31	Brown Capital Management, LLCCRD 105633	Baltimore	$4.5B	13	33	1	0%	Jul 2026
32	Innovation X AdvisorsCRD 322292	Rockville	$4.5B	3	19	n.d.	0%	Mar 2026
33	Campbell & Company Investment Adviser LLCCRD 134332	Baltimore	$4.3B	28	11	n.d.	0%	Mar 2026
34	New Century Advisors, LLCCRD 122478	Chevy Chase	$4.3B	10	42	7	0%	Mar 2026
35	Founders Financial Securities, LLCCRD 137945	Towson	$4.1B	101	19,082	9,590	89%	Apr 2026
36	FCPCRD 161468	Chevy Chase	$3.5B	28	13	n.d.	0%	May 2026
37	LaSalle Investment Management SecuritiesCRD 111179	Baltimore	$3.3B	25	25	0	1%	Mar 2026
38	XML Financial GroupCRD 284987	Bethesda	$3.3B	26	5,987	2,890	97%	Jun 2026
39	PotomacCRD 105413	Bethesda	$3.3B	27	2,385	1,257	5%	May 2026
40	Abrams Bison Investments, L.L.C.CRD 137183	Bethesda	$3.0B	6	3	n.d.	0%	May 2026
41	Adams Diversified Equity Fund, Inc.CRD 281263	Baltimore	$3.0B	10	1	n.d.	0%	Mar 2026
42	Baltimore-Washington Financial AdvisorsCRD 159388	Columbia	$3.0B	13	5,301	5,272	99%	Mar 2026
43	Greenhouse Funds LllpCRD 169840	Baltimore	$2.9B	5	12	n.d.	0%	May 2026
44	Patient Capital Management, LLCCRD 307336	Baltimore	$2.5B	4	7	2	4%	Mar 2026
45	Rock Springs CapitalCRD 168648	Baltimore	$2.4B	8	6	n.d.	0%	Mar 2026
46	FBB Capital PartnersCRD 108967	Bethesda	$2.4B	15	3,187	1,004	99%	Aug 2026
47	Access Holdings Management Company LLCCRD 297197	Baltimore	$2.3B	23	27	n.d.	0%	Mar 2026
48	Cornerstone AdvisoryCRD 142359	Hunt Valley	$2.2B	9	3,135	808	90%	Mar 2026
49	Enlightenment CapitalCRD 166422	Chevy Chase	$2.1B	13	16	0	0%	Apr 2026
50	Albion RiverCRD 322098	Rockville	$2.1B	4	2	n.d.	0%	May 2026

02 · By city

Where in Maryland the firms sit

Main-office city as filed. Up to the twenty-five cities with the most firms.

Bethesda50 · $280.9B
Baltimore36 · $2.67T
Hunt Valley17 · $24.4B
Rockville17 · $12.9B
Chevy Chase16 · $28.0B
Annapolis14 · $16.4B
Towson13 · $15.9B
Columbia8 · $6.2B
Frederick6 · $1.5B
Timonium6 · $3.8B
Ellicott City5 · $1.7B
Gaithersburg5 · $1.2B
Owings Mills5 · $12.3B
Lutherville3 · $9.2B
Bel Air2 · $1.3B
Ashton1 · $942.8M
Bowie1 · $466.8M
Cabin John1 · $407.8M
California1 · $657.2M
Chester1 · $490.8M
Cockeysville1 · $0
Dunkirk1 · $189.6M
Easton1 · $431.9M
Germantown1 · $156.2M
Glen Echo1 · $326.6M

03 · Questions

Questions people ask about RIAs in Maryland

How many RIAs are in Maryland?: 230 RIAs registered with the SEC list a main office in Maryland in the SEC's Form ADV data as of Sep 1, 2026. That count excludes state-registered RIAs, which generally manage under $100 million and file with the state rather than the SEC, and firms whose address is suppressed on Form ADV.
What is the largest RIA in Maryland?: By regulatory assets under management as filed on Form ADV, the largest SEC-registered RIA headquartered in Maryland is T. Rowe Price Associates, Inc. in Baltimore, at $2.20T. Regulatory AUM counts all assets a firm manages, so the largest filer in a state is often an asset manager rather than a wealth manager.
How many Maryland RIAs manage more than $1 billion?: 73 of the 230 SEC-registered RIAs headquartered in Maryland report regulatory assets under management of $1 billion or more. The median firm in the state reports $459.3M.
Where does this data come from?: From the SEC's monthly Form ADV data file for SEC-registered investment advisers (ia09012026-registered.zip, data as of Sep 1, 2026). Each figure is as the firm itself reported it on Form ADV Item 5; the SEC does not verify it. Every row links to the firm's record on the SEC's Investment Adviser Public Disclosure site.

Definitions and source

What each column means, in the SEC's words

Regulatory assets under management Form ADV Item 5.F(2)(c): If yes, what is the amount of your regulatory assets under management and total number of accounts? Total, discretionary plus non-discretionary.
Total accounts Form ADV Item 5.F(2)(f): Total number of accounts, discretionary plus non-discretionary.
Employees Form ADV Item 5.A: Approximately how many employees do you have? Include full- and part-time employees but do not include any clerical workers.
Advisory employees Form ADV Item 5.B(1): Approximately how many of the employees reported in 5.A. perform investment advisory functions (including research)?
Broker-dealer registered representatives Form ADV Item 5.B(2): Approximately how many of the employees reported in 5.A. are registered representatives of a broker-dealer?
Individual and high-net-worth clients Form ADV Item 5.D(a), 5.D(b): Number of clients and amount of regulatory assets under management for individuals (other than high net worth individuals) and for high net worth individuals.
Commissions Form ADV Item 5.E(5): You are compensated for your investment advisory services by (check all that apply): (5) Commissions.
Private funds Form ADV Item 7.B: Are you an adviser to any private fund?

Source: U.S. Securities and Exchange Commission, Form ADV data, Information About Registered Investment Advisers and Exempt Reporting Advisers, file ia09012026-registered.zip (data as of Sep 1, 2026), retrieved Sep 10, 2026. Figures are as self-reported by each firm on Form ADV Item 5; the SEC does not verify them. Neither the SEC nor the state securities authorities have approved the information filed on Form ADV, and we can not guarantee its accuracy.

Winthrop & Co. is compensated by firms when an advisor joins through us. The advisor never pays. Firms on this page are listed by arithmetic on the SEC's file, not by any relationship with us, and none is ranked, labelled or recommended.