Integrated Wealth Concepts is the fastest-growing registered investment advisor firm, based on an analysis of client assets and number of accounts over the past three years, according to financial resource company SmartAsset.
The Waltham, Mass.-based RIA had the largest increase in client assets and the tenth largest increase in client accounts from 2017 to 2020, according to SmartAsset.
The firm’s client assets grew from $550 million to nearly $3.5 billion during that three-year period, while its number of client accounts grew from 3,500 to almost 16,400, SmartAsset says.
In the last year alone, Integrated Wealth’s client assets grew by 158%, while its number of client accounts grew by 87%, SmartAsset adds.
Most of the 10 fastest-growing registered investment advisor firms were established within the past decade, according to SmartAsset.
Integrated Wealth, also known as Integrated Partners, was founded in 2016, making it the youngest RIA in the top 10, according to SmartAsset.
SmartAsset says five other RIAs in the top 10 were established in the past decade. These include AJ Wealth (2012), Financial Dimensions Group (founded in 1995 but registered as an RIA with the SEC in 2012), Mutual Advisors (2013), Integrated Advisors Network (2014), and Visionary Wealth Advisors (2014), according to SmartAsset.
SmartAsset’s analysis identified the 50 fastest-growing RIAs in the U.S. based on Securities and Exchange Commission data. The firm analyzed RIAs with at least $500 million in assets under management as of their December 2017 SEC filings. The firm further trimmed that by removing RIAs that have disclosures on their SEC Form ADV, as well as RIAs that don’t offer financial planning services or don’t serve individual investors.
To rank the RIAs, SmartAsset says it considered the following metrics: one- and three-year change in number of client accounts and one- and three-year change in assets under management.
SmartAsset says there are two family offices among the 50 fastest-growing RIAs: Oakmont Corporation – ranking third – and Dyson Capital Advisors – ranking 21st.
“Though each firm had fewer than 100 client accounts as of its most recent Form ADV filing in December 2020, the total number of accounts at both offices grew by upwards of 80% during the previous three years,” SmartAsset says.
“Additionally, from 2017 to 2020, AUM at Oakmont Corporation and Dyson Capital Advisors grew by about 142% and 82%, respectively,” it adds.
Overall, the number of RIAs in the U.S. is growing, as are the number of clients they serve and assets they manage, the study finds.
SmartAsset’s findings also shows that growth over the past three years has been slower among advisory firms in the South, based on the U.S. Census Bureau’s regional divisions. None of the top 10 fastest-growing RIAs is headquartered in the South, while only four of the top 50 are located there, SmartAsset says.
There were 13,494 RIAs in 2020, up 11% from 12,172 in 2017, according to SmartAsset, citing data from the Investment Advisor Association and the National Regulatory Services.
RIAs reported a total of 42.1 million clients and $97.2 trillion in regulatory assets under management in 2020 — roughly 18% and 37% more, respectively, than 2017, SmartAsset says, citing the same data.
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