Falists tracks 29,400 SEC-registered investment advisers across 2,958 U.S. cities. Combined disclosed assets under management exceed $164.66T, with a median firm size of $128.2M — meaning most advisers are boutique or regional, while a smaller set of corporate platforms hold the majority of assets.
102% of firms charge AUM-based fees, making it the dominant compensation model. 45% offer financial planning services, and 85% list a public website on Form ADV. The typical advisory team has 18.7 investment adviser representatives, though 24% operate as one-person shops.
Analysis derived from public SEC Form ADV data. Not investment advice. Run npm run generate-analysis with OPENAI_API_KEY for AI-enhanced summaries.
source & further reading
falists.co — original article