Top RIAs in Pennsylvania
Every SEC-registered RIA with a main office in Pennsylvania, by regulatory AUM, from Form ADV
564 RIAs registered with the SEC are headquartered in Pennsylvania, the 7th most of any state, managing $27.20T in regulatory assets as of Oct 2, 2026. The largest by regulatory AUM is Vanguard Group Inc in Malvern at $11.09T. 197 firms report $1 billion or more.
Data as of Oct 2, 2026, file ia100226.zip. Retrieved Oct 14, 2026.
01 · The firms
Every SEC-registered RIA in Pennsylvania, 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 564 firms in the state, by regulatory AUM as filed. Fifty at a time; the rest expand below.
| # | Firm | City | Regulatory AUM | Advisory staff | Accounts | Individual + HNW clients | Retail share | Filed |
|---|---|---|---|---|---|---|---|---|
| 1 | Vanguard Group IncCRD 105958 | Malvern | $11.09T | 19 | 228 | 0 | 0% | Sep 2026 |
| 2 | Vanguard Capital Management, LLCCRD 338002 | Malvern | $8.44T | 235 | 128 | 0 | 0% | Sep 2026 |
| 3 | Vanguard Portfolio Management, LLCCRD 338003 | Malvern | $2.66T | 105 | 101 | 0 | 0% | Sep 2026 |
| 4 | Mellon Investments CorporationCRD 105764 | Pittsburgh | $873.9B | 61 | 3,942 | 3,492 | 2% | Sep 2026 |
| 5 | Envestnet PMCCRD 111694 | Berwyn | $614.9B | 178 | 2,241,364 | 2,219,224 | 94% | Jun 2026 |
| 6 | Federated Investment Management CompanyCRD 105138 | Pittsburgh | $590.1B | 106 | 71 | n.d. | 0% | May 2026 |
| 7 | Vanguard Advisers, Inc.CRD 106715 | Malvern | $344.6B | 1,903 | 791,528 | 791,495 | 96% | Sep 2026 |
| 8 | Vanguard Global Advisers, LLCCRD 164593 | Malvern | $249.7B | 314 | 78 | 0 | 0% | Sep 2026 |
| 9 | SEI Investments Management CorpCRD 105146 | Oaks | $216.4B | 226 | 112,627 | 111,685 | 24% | Sep 2026 |
| 10 | Federated Investment CounselingCRD 105325 | Pittsburgh | $207.2B | 141 | 8,721 | 6,612 | 2% | Sep 2026 |
| 11 | Hartford FundsCRD 147746 | Wayne | $152.1B | 34 | 91 | 0 | 0% | Jun 2026 |
| 12 | Nomura Investment Management Business TrustCRD 105390 | Philadelphia | $144.0B | 219 | 290 | 32 | 1% | Sep 2026 |
| 13 | Hamilton LaneCRD 107876 | Conshohocken | $141.8B | 257 | 232 | 0 | 0% | Jun 2026 |
| 14 | Janney Montgomery Scott LLCCRD 463 | Philadelphia | $110.1B | 1,614 | 243,808 | 239,764 | 89% | Jun 2026 |
| 15 | Lincoln Financial Investments CorporationCRD 108881 | Radnor | $102.1B | 18 | 129 | n.d. | 0% | Sep 2026 |
| 16 | Brandywine Global Investment Management, LLCCRD 110783 | Philadelphia | $65.4B | 56 | 977 | 755 | 0% | Sep 2026 |
| 17 | Penn Mutual Asset Management, LLCCRD 107518 | Conshohocken | $42.3B | 30 | 35 | n.d. | 0% | Apr 2026 |
| 18 | Pacer Advisors, Inc.CRD 137381 | Malvern | $41.8B | 5 | 71 | n.d. | 0% | Aug 2026 |
| 19 | Abrdn Inc.CRD 111069 | Philadelphia | $41.5B | 55 | 147 | n.d. | 0% | Mar 2026 |
| 20 | Morgan Stanley AIP GP LPCRD 117050 | West Conshohocken | $40.9B | 169 | 199 | 16 | 1% | Aug 2026 |
| 21 | Clark Capital Management Group IncCRD 104796 | Philadelphia | $35.7B | 20 | 36,013 | 35,290 | 70% | May 2026 |
| 22 | Exeter Property Group, LLCCRD 161935 | Radnor | $35.1B | 101 | 16 | 0 | 0% | Mar 2026 |
| 23 | PNC Wealth ManagementCRD 129052 | Pittsburgh | $30.3B | 825 | 164,103 | 160,885 | 97% | Sep 2026 |
| 24 | ETF ArchitectCRD 171412 | Newtown Square | $29.7B | 6 | 222 | 116 | 3% | Mar 2026 |
| 25 | Hirtle & Co., LLCCRD 105403 | West Conshohocken | $25.4B | 48 | 1,739 | 1,454 | 20% | Mar 2026 |
| 26 | Xponance LLCCRD 111126 | Philadelphia | $24.3B | 15 | 131 | 7 | 0% | Sep 2026 |
| 27 | Lincoln InvestmentCRD 519 | Fort Washington | $22.0B | 874 | 199,383 | 138,132 | 99% | Jul 2026 |
| 28 | Envestnet Portfolio Solutions, Inc.CRD 109662 | Berwyn | $17.3B | 178 | 60,663 | 60,222 | 98% | Jun 2026 |
| 29 | Envestnet Retirement Solutions, LLCCRD 171570 | Berwyn | $16.3B | 15 | 4,876 | 0 | 0% | Jun 2026 |
| 30 | Venerable Investment Advisers, LLCCRD 330755 | West Chester | $16.3B | 3 | 21 | n.d. | 0% | Jul 2026 |
| 31 | Fs/Kkr Advisor, LLCCRD 292803 | Philadelphia | $16.1B | 192 | 3 | 0 | 0% | Jun 2026 |
| 32 | Mycio Wealth Partners, LLCCRD 134436 | Philadelphia | $15.8B | 46 | 8,391 | 923 | 98% | Jul 2026 |
| 33 | Federated Equity Management Company of PennsylvaniaCRD 128610 | Pittsburgh | $14.3B | 15 | 14 | n.d. | 0% | Sep 2026 |
| 34 | Centersquare Investment Management LLCCRD 290078 | Conshohocken | $13.7B | 57 | 138 | n.d. | 0% | Mar 2026 |
| 35 | Alpha ArchitectCRD 153905 | Newtown Square | $13.5B | 5 | 135 | 116 | 6% | Aug 2026 |
| 36 | Chartwell Investment Partners, LLCCRD 170335 | Berwyn | $13.0B | 19 | 340 | 49 | 0% | May 2026 |
| 37 | Conrad Siegel Investment AdvisorsCRD 123560 | Harrisburg | $12.1B | 23 | 1,218 | 395 | 8% | Sep 2026 |
| 38 | CS McKeeCRD 306128 | Warrendale | $11.7B | 19 | 554 | 0 | 0% | May 2026 |
| 39 | QRG Capital Management, Inc.CRD 305277 | Berwyn | $11.4B | 12 | 27,393 | 26,605 | 92% | Jun 2026 |
| 40 | CBRE Investment Management Listed Real Assets LLCCRD 106256 | Radnor | $10.8B | 30 | 50 | n.d. | 0% | Mar 2026 |
| 41 | Great Valley Advisor Group, LLCCRD 123913 | Berwyn | $10.6B | 192 | 37,014 | 36,836 | 87% | Sep 2026 |
| 42 | Cooke & Bieler, L.P.CRD 113859 | Philadelphia | $10.6B | 14 | 209 | 110 | 4% | Mar 2026 |
| 43 | Franklin ParkCRD 126508 | Bala Cynwyd | $10.2B | 29 | 52 | 0 | 0% | Mar 2026 |
| 44 | Callan Family Office, LLCCRD 317446 | Radnor | $10.2B | 15 | 2,697 | 170 | 70% | Mar 2026 |
| 45 | Arin Risk Advisors LLCCRD 151491 | Conshohocken | $10.2B | 5 | 21 | 5 | 0% | Mar 2026 |
| 46 | Cornerstone Advisors Asset Management, LLCCRD 138638 | Bethlehem | $9.6B | 26 | 1,912 | 534 | 16% | Mar 2026 |
| 47 | Gardner Russo & Quinn LLCCRD 106114 | Lancaster | $9.4B | 8 | 1,346 | 1,143 | 49% | Mar 2026 |
| 48 | FS Reit Advisor, LLCCRD 306352 | Philadelphia | $9.1B | 3 | 1 | 0 | 0% | Jun 2026 |
| 49 | Hornor, Townsend & Kent, LLCCRD 4031 | Conshohocken | $9.0B | 426 | 28,369 | 27,999 | 91% | Sep 2026 |
| 50 | Capital AnalystsCRD 162200 | Fort Washington | $8.8B | 667 | 23,420 | 15,611 | 96% | Jul 2026 |
02 · By city
Where in Pennsylvania the firms sit
Main-office city as filed. Up to the twenty-five cities with the most firms.
Counting the firms in a state is the easy part. Which of them fits a given practice depends on custody, the platform's all-in cost and what an advisor wants to own, which is the subject of how to choose an independent RIA platform and what an independent RIA platform actually costs. Advisors who looked at this channel and chose a broker-dealer instead are covered in the destination profiles.
- Philadelphia54 · $546.3B
- Pittsburgh54 · $1.77T
- Radnor27 · $200.6B
- Wayne27 · $198.4B
- Conshohocken22 · $238.4B
- Berwyn16 · $689.9B
- Newtown16 · $9.9B
- Lancaster15 · $18.6B
- Malvern14 · $22.83T
- West Conshohocken14 · $98.3B
- West Chester13 · $34.8B
- Newtown Square12 · $58.7B
- Allentown9 · $4.1B
- Canonsburg9 · $2.8B
- Yardley9 · $4.0B
- Bethlehem8 · $14.8B
- Blue Bell8 · $4.8B
- Erie8 · $9.1B
- Harrisburg8 · $15.0B
- Wyomissing8 · $3.1B
- Bala Cynwyd7 · $16.4B
- Chadds Ford7 · $5.3B
- King Of Prussia7 · $8.0B
- Leola7 · $8.9B
- Wexford7 · $4.5B
03 · Questions
Questions people ask about RIAs in Pennsylvania
- How many RIAs are in Pennsylvania?
- 564 RIAs registered with the SEC list a main office in Pennsylvania in the SEC's Form ADV data as of Oct 2, 2026. That count excludes state-registered RIAs, which generally manage under $100 million and register with their state, and firms whose address is suppressed on Form ADV.
- What is the largest RIA in Pennsylvania?
- By regulatory assets under management as filed on Form ADV, the largest SEC-registered RIA headquartered in Pennsylvania is Vanguard Group Inc in Malvern, at $11.09T. Regulatory AUM counts all assets a firm manages, so the largest filer in a state is often an institutional asset manager.
- How many Pennsylvania RIAs manage more than $1 billion?
- 197 of the 564 SEC-registered RIAs headquartered in Pennsylvania report regulatory assets under management of $1 billion or more. The median firm in the state reports $506.1M.
- Where does this data come from?
- From the SEC's monthly Form ADV data file for SEC-registered investment advisers (ia100226.zip, data as of Oct 2, 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: SEC and FINRA public filings (Form ADV, BrokerCheck, IAPD). 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.
The firm pays Winthrop & Co., and the advisor never pays. Firms on this page are ordered by the figures in their own SEC filings.