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Industry Statistics: State-by-State

The Investment Advisory Profession, State by State

Following are 2024 statistics on the number of investment advisory firms, their employees, their clients, and their assets under management in each U.S. state and territory.

Puerto Rico

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Notes:
SEC registered, SEC exempt reporting, state registered, and state exempt reporting advisers
Excludes advisers with restricted/limited status
SEC registered and exempt reporting advisers by address
For state advisers by state(s) of license, though employees, clients, and assets by address for state advisers with multiple state licenses by address
For SEC exempt reporting advisers, clients are number of funds managed and assets are gross assets of private funds. Employees are not available.

Source: Form ADV Part 1

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