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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.

Methodology

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
5/5 Stars $269.0 million 283 5 $950,568
Accuvest Global Advisors
5/5 Stars $518.0 million 41 4 $12.6 million
ACM
4.5/5 Stars $301.4 million 2 2 $150.7 million
Allspring Funds Management
5/5 Stars $300.8 billion 8,076 2 $37.2 million
Anchor Bay Capital
4.5/5 Stars $208.5 million 206 3 $1.0 million
Ariel Investments
5/5 Stars $13.4 billion 181 7 $74.0 million
Arnold Weitz & CO
5/5 Stars $366.4 million 44 2 $8.3 million
Arroyo Investment Group
5/5 Stars $243.0 million 320 3 $759,519
Artisan Partners Limited Partnership
5/5 Stars $151.3 billion 253 121 $598.1 million
Atalanta Sosnoff Capital
5/5 Stars $4.2 billion 192 5 $21.9 million
Atalanta Sosnoff Management
5/5 Stars $2.9 billion 482 1 $5.9 million
Axiom Asset Management
4.5/5 Stars $728.1 million 612 5 $1.2 million
Axos Invest
5/5 Stars $143.0 million 17,074 13 $8,377
Azimut Genesis Advisors
5/5 Stars $392.5 million 226 3 $1.7 million
Baker Street Advisors
5/5 Stars $14.5 billion 504 12 $28.8 million
Banyan Tree Asset Management
5/5 Stars $1.1 billion 48 2 $22.1 million
BC Advisors
5/5 Stars $4.2 billion 112 3 $37.6 million
Brendel Financial Advisors
4.5/5 Stars $223.5 million 255 2 $876,291
Brick & Kyle Associates
5/5 Stars $397.7 million 340 3 $1.2 million
Broadmark Asset Management
5/5 Stars $311.1 million 2 4 $155.5 million
Callodine Capital Management
4.5/5 Stars $607.4 million 6 5 $101.2 million
Caruso Mclean & Co
5/5 Stars $232.7 million 131 5 $1.8 million
Champlain Investment Partners
5/5 Stars $17.3 billion 94 13 $184.3 million
Class VI Family Office
4.5/5 Stars $1.0 billion 153 6 $6.6 million
Concentus Wealth Advisors
5/5 Stars $799.9 million 300 7 $2.7 million
Congress Asset Management Company
5/5 Stars $12.1 billion 7,032 13 $1.7 million
Cook Pine Capital
5/5 Stars $409.2 million 5 4 $81.8 million
Cullinan Associates
5/5 Stars $1.9 billion 943 6 $2.0 million
Curran Wealth Management
5/5 Stars $633.3 million 350 3 $1.8 million
Davis Selected Advisers
5/5 Stars $22.9 billion 142 11 $161.6 million
Delta Asset Management
4.5/5 Stars $1.4 billion 562 6 $2.5 million
Dmkc Advisory Services
5/5 Stars $562.5 million 446 11 $1.3 million
Dolan Mceniry Capital Management
5/5 Stars $9.5 billion 4,433 13 $2.1 million
Dorsey, Wright & Associates
5/5 Stars $578.9 million 824 13 $702,544
Drexel Morgan & Co
5/5 Stars $439.6 million 11 2 $40.0 million
E. A. Horwitz
5/5 Stars $208.1 million 404 9 $515,002
Eukles Asset Management
5/5 Stars $337.2 million 449 6 $751,050
Eulav Asset Management
5/5 Stars $4.3 billion 7 5 $616.4 million
Feldstein, Steven DBA Steven Feldstein & Associates
5/5 Stars $120.0 million 525 1 $228,532
Financial Security Solutions, Corp
5/5 Stars $122.7 million 275 3 $446,295
Flagship Wealth Advisors
4.5/5 Stars $421.3 million 434 4 $970,705
Frontier Capital Management CO
5/5 Stars $10.1 billion 42 20 $240.5 million
Gamco Asset Management
5/5 Stars $10.4 billion 1,651 6 $6.3 million
Gerald Baker Financial Groupdba Baker Financial Services
5/5 Stars $741.0 million 357 4 $2.1 million
Harbor Investment Advisory
5/5 Stars $5.2 billion 3,169 29 $1.6 million
Harding Loevner
5/5 Stars $43.8 billion 4,631 3 $9.5 million
Harvey Investment Company
4.5/5 Stars $913.3 million 188 4 $4.9 million
Hesen & Haslam
4.5/5 Stars $193.9 million 291 2 $666,300
Homestead Advisers Corp
5/5 Stars $7.2 billion 2 11 $3.6 billion
Kelleher Financial Advisors
5/5 Stars $573.6 million 282 4 $2.0 million
Lebenthal Diversified Asset Management
5/5 Stars $643.9 million 83 1 $7.8 million
Legacy Consulting Group
5/5 Stars $316.6 million 171 5 $1.9 million
Lisanti Capital Growth
5/5 Stars $438.5 million 22 2 $19.9 million
LSV Asset Management
5/5 Stars $96.0 billion 264 13 $363.6 million
Madison Investment Advisors
5/5 Stars $13.2 billion 14,743 21 $897,879
Mainline West Fund Manager
5/5 Stars $1.8 billion 109 4 $16.2 million
Marketriders
5/5 Stars $556.0 million 334 2 $1.7 million
Mercadien Asset Management
5/5 Stars $243.0 million 137 5 $1.8 million
Monongahela Capital Management
5/5 Stars $835.9 million 509 9 $1.6 million
MTM Financial Group
5/5 Stars $488.2 million 1,249 7 $390,886
Muhlenkamp & CO
5/5 Stars $344.8 million 56 4 $6.2 million
New Vernon Wealth Management
5/5 Stars $551.9 million 172 1 $3.2 million
Orion Investment CO
5/5 Stars $464.5 million 603 4 $770,242
Orion Portfolio Solutions
5/5 Stars $53.8 billion 197,995 189 $271,948
Paskin & Berler Capital Advisors
5/5 Stars $354.4 million 67 1 $5.3 million
Payden & Rygel
5/5 Stars $142.3 billion 476 109 $298.9 million
Phillips and Company Advisors
5/5 Stars $1.4 billion 1,125 14 $1.3 million
Philosmith Capital Corporation
5/5 Stars $315.9 million 3 6 $105.3 million
Physicians Financial Services
5/5 Stars $363.7 million 215 2 $1.7 million
Ramirez Asset Management
5/5 Stars $9.1 billion 809 5 $11.3 million
RCM Robinson Capital Management
5/5 Stars $132.9 million 10 1 $13.3 million
Renaissance Investment Management
5/5 Stars $2.5 billion 1,192 7 $2.1 million
Retirement Plan Advisors
5/5 Stars $1.5 billion 7,669 43 $191,998
River Road Asset Management
5/5 Stars $7.7 billion 122 19 $62.9 million
Salem Partners Wealth Management
5/5 Stars $360.5 million 39 5 $9.2 million
Sendero Wealth Management
5/5 Stars $5.2 billion 325 14 $16.1 million
Shapiro Capital Management
5/5 Stars $3.7 billion 691 1 $5.3 million
Shelton Capital Management
5/5 Stars $4.8 billion 1,042 7 $4.6 million
Shufro, Rose & Co
5/5 Stars $2.0 billion 1,269 9 $1.6 million
Smartx Advisory Solutions
4.5/5 Stars $22.9 billion 60 1 $381.9 million
Southstate Advisory
5/5 Stars $3.4 billion 285 15 $12.0 million
Spirit of America Management Corp
5/5 Stars $568.7 million 40 12 $14.2 million
Stacey Braun Associates
5/5 Stars $4.2 billion 1,059 9 $3.9 million
Strategic Wealth Management Group
5/5 Stars $667.7 million 325 5 $2.1 million
Stratos Wealth Advisors
4.5/5 Stars $4.2 billion 5,130 66 $821,608
Sustainable Growth Advisers
5/5 Stars $23.9 billion 333 16 $71.9 million
TA Realty
5/5 Stars $2.1 billion 21 85 $100.6 million
Teton Advisors
5/5 Stars $456.9 million 15 1 $30.5 million
Texas Capital Bank Private Wealth Advisors
4.5/5 Stars $3.4 billion 709 45 $4.8 million
The Kocen Financial Group
5/5 Stars $140.3 million 225 5 $623,418
The Pinnacle Financial Group
5/5 Stars $1.2 billion 3,367 37 $357,559
The Wealth Group
4.5/5 Stars $247.9 million 368 7 $673,550
Timecapital Investor Advisory Services
5/5 Stars $240.9 million 238 2 $1.0 million
Townsquare Capital
4.5/5 Stars $8.8 billion 100 17 $87.8 million
W Advisors
5/5 Stars $185.6 million 95 2 $2.0 million
Welch & Forbes
5/5 Stars $7.9 billion 694 12 $11.4 million
Westend Advisors
5/5 Stars $1.5 billion 3,525 12 $413,372
Westfuller Advisors
4.5/5 Stars $1.4 billion 87 8 $16.5 million
Wright Investors Service
5/5 Stars $1.3 billion 126 8 $10.3 million
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2024 Annual Awards

Our 2024 Annual Awards recognize the best financial advisor firms in three categories. In addition to this page, click to visit:







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