Best Hybrid Financial Advisor Firms 2024
January 23, 2024
The investor.com 2024 Annual Awards draw upon our proprietary database of 17,000+ registered investment advisory (RIA) firms in the U.S.
Every month, we collect publicly accessible data from the Securities and Exchange Commission (SEC) IAPD Database; RIA firms are required to file this information annually. We then filter for data points that are incorporated into our proprietary Trust Algorithm. Research for this list spanned more than six months and represents consideration of thousands of data points.
What’s a ‘hybrid’ firm?
Some firms are registered investment advisors, aka RIAs. Other firms are a combo: They’re both RIAs and broker-dealers.
For people seeking financial advice, the big difference between hybrid and non-hybrid firms is that advisors at hybrid firms are not always held to a fiduciary standard. Here at investor.com we are big fans of fiduciary advisors. In fact, the two other categories in our inaugural Annual Awards 2024 for Best Financial Advisor Firms specifically exclude hybrid firms because of the potential for conflicts of interest.
But some of the largest financial advisor firms in the U.S. are hybrid firms, so we chose to help Americans find the best possible hybrid firms out there. The winners below have a strong ethical history and are well-established businesses. If you’re planning to work with a hybrid firm, one of these may be a great fit for you.
Methodology: To qualify for the Best Hybrid Financial Advisor Firm award, firms had to meet the following criteria:
- Be dually registered: To win our “best hybrid firm” award, the firm must be registered as a registered investment advisor (RIA) and a broker-dealer. That is, they need to be a hybrid firm. Sort of a no-brainer, right?
- Have a reputable history: All of these firms report minimal disciplinary marks against them and zero conflicts of interest* (other than the two conflicts we allowed for this award: broker-dealer and soft dollar benefits).
- Be an established business: We limit this award to companies that have been in business for a minimum of 5 years and have at least $100 million in assets under management.
Data as of Dec. 3, 2023
*Data covers the following conflicts of interest: attorney conflict, broker-dealer conflict (allowed for this category), commissions compensation conflict, insurance agency conflict, insurance affiliation conflict, private investment management, proprietary investments, soft-dollar benefit conflict (allowed for this category). See our Trust Algorithm page for more on the conflicts and disciplinary history we track.
Click any column header to sort the table, or click any firm to see a detailed review.
| Company | Overall | Assets Under Management | Total Clients | Total Advisors | Average Client Balance |
|
Access Financial Group
|
|
$269.0 million | 283 | 5 | $950,568 |
|
Accuvest Global Advisors
|
|
$518.0 million | 41 | 4 | $12.6 million |
|
ACM
|
|
$301.4 million | 2 | 2 | $150.7 million |
|
Allspring Funds Management
|
|
$300.8 billion | 8,076 | 2 | $37.2 million |
|
Anchor Bay Capital
|
|
$208.5 million | 206 | 3 | $1.0 million |
|
Ariel Investments
|
|
$13.4 billion | 181 | 7 | $74.0 million |
|
Arnold Weitz & CO
|
|
$366.4 million | 44 | 2 | $8.3 million |
|
Arroyo Investment Group
|
|
$243.0 million | 320 | 3 | $759,519 |
|
Artisan Partners Limited Partnership
|
|
$151.3 billion | 253 | 121 | $598.1 million |
|
Atalanta Sosnoff Capital
|
|
$4.2 billion | 192 | 5 | $21.9 million |
|
Atalanta Sosnoff Management
|
|
$2.9 billion | 482 | 1 | $5.9 million |
|
Axiom Asset Management
|
|
$728.1 million | 612 | 5 | $1.2 million |
|
Axos Invest
|
|
$143.0 million | 17,074 | 13 | $8,377 |
|
Azimut Genesis Advisors
|
|
$392.5 million | 226 | 3 | $1.7 million |
|
Baker Street Advisors
|
|
$14.5 billion | 504 | 12 | $28.8 million |
|
Banyan Tree Asset Management
|
|
$1.1 billion | 48 | 2 | $22.1 million |
|
BC Advisors
|
|
$4.2 billion | 112 | 3 | $37.6 million |
|
Brendel Financial Advisors
|
|
$223.5 million | 255 | 2 | $876,291 |
|
Brick & Kyle Associates
|
|
$397.7 million | 340 | 3 | $1.2 million |
|
Broadmark Asset Management
|
|
$311.1 million | 2 | 4 | $155.5 million |
|
Callodine Capital Management
|
|
$607.4 million | 6 | 5 | $101.2 million |
|
Caruso Mclean & Co
|
|
$232.7 million | 131 | 5 | $1.8 million |
|
Champlain Investment Partners
|
|
$17.3 billion | 94 | 13 | $184.3 million |
|
Class VI Family Office
|
|
$1.0 billion | 153 | 6 | $6.6 million |
|
Concentus Wealth Advisors
|
|
$799.9 million | 300 | 7 | $2.7 million |
|
Congress Asset Management Company
|
|
$12.1 billion | 7,032 | 13 | $1.7 million |
|
Cook Pine Capital
|
|
$409.2 million | 5 | 4 | $81.8 million |
|
Cullinan Associates
|
|
$1.9 billion | 943 | 6 | $2.0 million |
|
Curran Wealth Management
|
|
$633.3 million | 350 | 3 | $1.8 million |
|
Davis Selected Advisers
|
|
$22.9 billion | 142 | 11 | $161.6 million |
|
Delta Asset Management
|
|
$1.4 billion | 562 | 6 | $2.5 million |
|
Dmkc Advisory Services
|
|
$562.5 million | 446 | 11 | $1.3 million |
|
Dolan Mceniry Capital Management
|
|
$9.5 billion | 4,433 | 13 | $2.1 million |
|
Dorsey, Wright & Associates
|
|
$578.9 million | 824 | 13 | $702,544 |
|
Drexel Morgan & Co
|
|
$439.6 million | 11 | 2 | $40.0 million |
|
E. A. Horwitz
|
|
$208.1 million | 404 | 9 | $515,002 |
|
Eukles Asset Management
|
|
$337.2 million | 449 | 6 | $751,050 |
|
Eulav Asset Management
|
|
$4.3 billion | 7 | 5 | $616.4 million |
|
Feldstein, Steven DBA Steven Feldstein & Associates
|
|
$120.0 million | 525 | 1 | $228,532 |
|
Financial Security Solutions, Corp
|
|
$122.7 million | 275 | 3 | $446,295 |
|
Flagship Wealth Advisors
|
|
$421.3 million | 434 | 4 | $970,705 |
|
Frontier Capital Management CO
|
|
$10.1 billion | 42 | 20 | $240.5 million |
|
Gamco Asset Management
|
|
$10.4 billion | 1,651 | 6 | $6.3 million |
|
Gerald Baker Financial Groupdba Baker Financial Services
|
|
$741.0 million | 357 | 4 | $2.1 million |
|
Harbor Investment Advisory
|
|
$5.2 billion | 3,169 | 29 | $1.6 million |
|
Harding Loevner
|
|
$43.8 billion | 4,631 | 3 | $9.5 million |
|
Harvey Investment Company
|
|
$913.3 million | 188 | 4 | $4.9 million |
|
Hesen & Haslam
|
|
$193.9 million | 291 | 2 | $666,300 |
|
Homestead Advisers Corp
|
|
$7.2 billion | 2 | 11 | $3.6 billion |
|
Kelleher Financial Advisors
|
|
$573.6 million | 282 | 4 | $2.0 million |
|
Lebenthal Diversified Asset Management
|
|
$643.9 million | 83 | 1 | $7.8 million |
|
Legacy Consulting Group
|
|
$316.6 million | 171 | 5 | $1.9 million |
|
Lisanti Capital Growth
|
|
$438.5 million | 22 | 2 | $19.9 million |
|
LSV Asset Management
|
|
$96.0 billion | 264 | 13 | $363.6 million |
|
Madison Investment Advisors
|
|
$13.2 billion | 14,743 | 21 | $897,879 |
|
Mainline West Fund Manager
|
|
$1.8 billion | 109 | 4 | $16.2 million |
|
Marketriders
|
|
$556.0 million | 334 | 2 | $1.7 million |
|
Mercadien Asset Management
|
|
$243.0 million | 137 | 5 | $1.8 million |
|
Monongahela Capital Management
|
|
$835.9 million | 509 | 9 | $1.6 million |
|
MTM Financial Group
|
|
$488.2 million | 1,249 | 7 | $390,886 |
|
Muhlenkamp & CO
|
|
$344.8 million | 56 | 4 | $6.2 million |
|
New Vernon Wealth Management
|
|
$551.9 million | 172 | 1 | $3.2 million |
|
Orion Investment CO
|
|
$464.5 million | 603 | 4 | $770,242 |
|
Orion Portfolio Solutions
|
|
$53.8 billion | 197,995 | 189 | $271,948 |
|
Paskin & Berler Capital Advisors
|
|
$354.4 million | 67 | 1 | $5.3 million |
|
Payden & Rygel
|
|
$142.3 billion | 476 | 109 | $298.9 million |
|
Phillips and Company Advisors
|
|
$1.4 billion | 1,125 | 14 | $1.3 million |
|
Philosmith Capital Corporation
|
|
$315.9 million | 3 | 6 | $105.3 million |
|
Physicians Financial Services
|
|
$363.7 million | 215 | 2 | $1.7 million |
|
Ramirez Asset Management
|
|
$9.1 billion | 809 | 5 | $11.3 million |
|
RCM Robinson Capital Management
|
|
$132.9 million | 10 | 1 | $13.3 million |
|
Renaissance Investment Management
|
|
$2.5 billion | 1,192 | 7 | $2.1 million |
|
Retirement Plan Advisors
|
|
$1.5 billion | 7,669 | 43 | $191,998 |
|
River Road Asset Management
|
|
$7.7 billion | 122 | 19 | $62.9 million |
|
Salem Partners Wealth Management
|
|
$360.5 million | 39 | 5 | $9.2 million |
|
Sendero Wealth Management
|
|
$5.2 billion | 325 | 14 | $16.1 million |
|
Shapiro Capital Management
|
|
$3.7 billion | 691 | 1 | $5.3 million |
|
Shelton Capital Management
|
|
$4.8 billion | 1,042 | 7 | $4.6 million |
|
Shufro, Rose & Co
|
|
$2.0 billion | 1,269 | 9 | $1.6 million |
|
Smartx Advisory Solutions
|
|
$22.9 billion | 60 | 1 | $381.9 million |
|
Southstate Advisory
|
|
$3.4 billion | 285 | 15 | $12.0 million |
|
Spirit of America Management Corp
|
|
$568.7 million | 40 | 12 | $14.2 million |
|
Stacey Braun Associates
|
|
$4.2 billion | 1,059 | 9 | $3.9 million |
|
Strategic Wealth Management Group
|
|
$667.7 million | 325 | 5 | $2.1 million |
|
Stratos Wealth Advisors
|
|
$4.2 billion | 5,130 | 66 | $821,608 |
|
Sustainable Growth Advisers
|
|
$23.9 billion | 333 | 16 | $71.9 million |
|
TA Realty
|
|
$2.1 billion | 21 | 85 | $100.6 million |
|
Teton Advisors
|
|
$456.9 million | 15 | 1 | $30.5 million |
|
Texas Capital Bank Private Wealth Advisors
|
|
$3.4 billion | 709 | 45 | $4.8 million |
|
The Kocen Financial Group
|
|
$140.3 million | 225 | 5 | $623,418 |
|
The Pinnacle Financial Group
|
|
$1.2 billion | 3,367 | 37 | $357,559 |
|
The Wealth Group
|
|
$247.9 million | 368 | 7 | $673,550 |
|
Timecapital Investor Advisory Services
|
|
$240.9 million | 238 | 2 | $1.0 million |
|
Townsquare Capital
|
|
$8.8 billion | 100 | 17 | $87.8 million |
|
W Advisors
|
|
$185.6 million | 95 | 2 | $2.0 million |
|
Welch & Forbes
|
|
$7.9 billion | 694 | 12 | $11.4 million |
|
Westend Advisors
|
|
$1.5 billion | 3,525 | 12 | $413,372 |
|
Westfuller Advisors
|
|
$1.4 billion | 87 | 8 | $16.5 million |
|
Wright Investors Service
|
|
$1.3 billion | 126 | 8 | $10.3 million |
2024 Annual Awards
Our 2024 Annual Awards recognize the best financial advisor firms in three categories. In addition to this page, click to visit:
- Best Financial Advisor Firms Serving Everyday Americans
- Best Financial Advisors for High Net Worth Clients