US SEC-Registered Investment Adviser Statistics by State, 2026

Counts of SEC-registered investment advisers, aggregate and median regulatory assets under management, and firm-size distribution, for each US state and territory, derived from the SEC Investment Adviser public roster with a report date of 1 July 2026. Coverage: 53 jurisdictions (50 states, DC, PR, VI). Methodology. Source: SEC Investment Adviser public roster, FOIA download, report date 2026-07-01 (`advisor_fee_benchmark/sources/sec/2026-07/IA_SEC_-_FIRM_ROSTER_FOIA_DOWNLOAD_-_34622660.CSV`, 17,074 lines / 16,935 firms after CRD de-duplication). Regulatory AUM is Form ADV Item 5.F.(2)(c). 615 firms reporting zero regulatory AUM are excluded from the AUM statistics but counted in `firm_count`. A firm is assigned to the state of its main office address. SEC-registered advisers only; state-registered advisers are out of scope. Firm counts were de-duplicated by CRD (zero duplicates found) and the aggregate table was independently recomputed by a second automated reviewer before publication. Even-count medians resolve half-to-even (banker's rounding). This moves four to six jurisdictions by one dollar versus truncation or half-up rounding, and is recorded because it is the kind of detail that makes an otherwise exact replication fail. How to read this responsibly. This is a point-in-time snapshot. The SEC roster changes daily as firms register, deregister and amend Form ADV. `median_firm_raum_usd` is the median over firms with non-zero regulatory AUM in that jurisdiction, so it is not comparable with `total_regulatory_aum_usd / firm_count`. Regulatory AUM is self-reported by each adviser on Form ADV and is not audited. Every row of this table is independently reproducible from the SEC roster by `tmp/build_advisor_statistics.py --compare`, which rebuilds it from the FOIA download and diffs it against the published version. It currently matches on 53 of 53 rows across all nine numeric fields. Cite as: Clear Money Guide, "US Financial Advisor Statistics 2026," computed from the SEC Investment Adviser public roster (report date 1 July 2026). Canonical page: https://clearmoneyguide.com/advisor-statistics/