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		$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: