Over the past several years, the RIA industry has seen a dramatic rise in mergers and acquisitions, resulting in significant consolidation across the channel. This trend has been driven by private equity investment, advisor succession planning, and the increasing need for scale in areas like compliance, technology, and operations.
As a result, RIA aggregators have emerged as dominant players, rapidly expanding and reshaping the independent wealth management landscape.
At Dakota, we’ve been navigating the RIA space since 2006. Over time, we’ve compiled data on more than 4,000 RIAs into Dakota Marketplace – the same platform our investment sales team and over 1,300 fundraisers use daily. Within Dakota Marketplace, you’ll find centralized home office contacts for the top aggregators, along with detailed information on their underlying advisory teams, often referred to as child accounts.
For investment sales professionals, understanding who these aggregators are, how they’re structured, and how to approach them is critical. These firms oversee large pools of assets and often centralize investment decisions making them some of the most important buyers in the market.
In this article, we’ll highlight the top RIA aggregators you should know, explore what’s fueling their growth, and share best practices for effectively engaging with them in your investment sales efforts.
Headquarters: New York City, NY
AUM: $122.85B
Cerity Partners is a leading RIA providing multi-family office services to high-net-worth individuals, corporations, and nonprofits. Headquartered in New York City, the firm manages over $122 billion in assets and delivers comprehensive wealth management and investment advisory solutions. Cerity Partners takes a strategic approach to portfolio construction, with a strong emphasis on private market investments, including private equity, private debt, venture capital, and private real estate. Known for its rigorous due diligence and client-first philosophy, the firm aims to build long-term partnerships by offering personalized guidance, institutional-level expertise, and a commitment to helping clients achieve their financial goals.
Headquarters: New York City, NY
AUM: $164.79B
Hightower Advisors is a national RIA specializing in multi-family office services, headquartered in New York City with a presence in 33 states and more than 140 advisors. Managing over $164 billion in assets, Hightower operates under a unique partnership model that balances advisor independence with firm-wide collaboration and shared resources. The firm offers a broad investment platform that includes mutual funds, separately managed accounts (SMAs), ETFs, and alternative investments. Backed by centralized research and partnerships with firms like Fiducient Advisors, Hightower delivers tailored portfolio solutions, empowering its advisor teams with institutional-level insights and support to better serve their clients.
Headquarters: Minneapolis, MN
AUM: $94.63B
Wealth Enhancement Group is a growing RIA offering multi-family office services, headquartered in the Minneapolis metro area with over 115 offices nationwide. Managing $94.63 billion in assets, the firm provides strategic investment solutions across equities, fixed income, alternatives, and inflation-sensitive assets, favoring managers with value and momentum styles. Wealth Enhancement Group serves more than 45,500 households and has expanded significantly through acquisitions, including Equius Partners and Infinity Wealth Alliance. While exploring liquid alternatives and interval funds, the firm maintains a disciplined, conservative stance by limiting exposure to private investments, emphasizing thoughtful portfolio construction and long-term client partnerships.
Headquarters: Cleveland, OH
AUM: $29.63B
MAI Capital Management is a Cleveland-based RIA specializing in multi-family office services, with a legacy dating back to 1973. Managing $29.63 billion in assets, MAI serves high-net-worth individuals, ultra-high-net-worth families, institutional investors, and financial advisors. The firm delivers a full range of wealth management services, including investment advisory, financial planning, and estate strategies. MAI Capital integrates platforms like iCapital to provide clients with access to a broad spectrum of alternative investments, enabling customized portfolio solutions. With a client-centric approach and deep investment expertise, MAI Capital Management is focused on long-term partnerships and personalized financial outcomes.
Headquarters: Los Angeles, CA
AUM: $35.75B
EP Wealth Advisors is a Torrance, CA-based RIA specializing in multi-family office services, managing $35.57 billion in assets. Affiliated with AMG, the firm is actively expanding through RIA acquisitions, with a strong presence on the West Coast. EP Wealth emphasizes mutual funds and an internally managed large-cap equity strategy featuring brands like Apple, Pepsi, and Colgate. The firm requires new strategies to have at least $200–$250 million in assets and a three-year track record, favoring active management in mid, small, and international equities. EP also utilizes Envestnet for UMA solutions and allocates to liquid alternatives.
Headquarters: New York City, NY
AUM: $400B
Focus Financial Partners is a New York City-based RIA platform specializing in wealth management and financial advisory services. Managing over $400 billion in client assets, the firm supports a network of more than 65 independent RIAs across the U.S. and Canada. Now backed by CD&R and Stone Point Capital, Focus recently restructured into five dedicated “Focus Partners” hubs, including Focus Partners Wealth, Advisor Solutions, Kovitz, SCS Financial, and Cardinal Point. This strategic organization allows each unit to deliver specialized services, ranging from family office and OCIO to cross-border planning, while advancing succession planning, operational support, and long-term growth for its partner firms.
Headquarters: Tampa, FL
AUM: $8.67B
Dynasty Financial Partners is an RIA headquartered in St. Petersburg, FL, serving the Tampa metro area. Specializing in multi-family office services, Dynasty supports a network of 53 partner firms and 300 advisors, collectively managing over $85 billion in assets. The firm offers a full-service wealth management and technology platform designed for independent advisory teams, with strategic partnerships including Envestnet Direct for SMAs and FolioDynamix for UMA capabilities. Dynasty also collaborates with iCapital to provide access to private funds and operates the Dynasty Select platform for alternative asset managers. Backed by Charles Schwab and Abry Partners, Dynasty continues to expand its innovative, advisor-focused offering.
Headquarters: New York City, NY
AUM: $70.03B
Rockefeller Capital Management is a premier RIA specializing in multi-family office services, headquartered in New York City. Founded in 2018, the firm manages over $149 billion in client assets and operates more than 50 offices across the U.S., with an international presence in London. Rockefeller offers a full range of services including global family office, asset management, and strategic advisory through its dedicated divisions: Rockefeller Asset Management and Rockefeller Strategic Advisory. With an AUM of $70.03 billion, the firm delivers tailored investment solutions focused on achieving optimal risk-adjusted returns, reflecting a legacy of trust, innovation, and client-centric service.
Headquarters: Chicago, IL
AUM: $74.80B
William Blair is a Chicago-based RIA managing approximately $74.8 billion in client assets, with a strong emphasis on Private Wealth Management. Operating as a global boutique, the firm delivers integrated services across investment banking, investment management, and wealth advisory. William Blair's team of 100 advisors spans key markets including Chicago, Baltimore, Boston, New York, Atlanta, and San Francisco. The firm combines robust in-house research with partnerships through Envestnet and CAIS, and provides custody services via Fidelity. With a growing focus on alternative investments and a flexible approach to investment structures, William Blair is strategically positioned for continued innovation and market expansion.
Headquarters: Raleigh, NC
AUM: $1.08T
CAPTRUST Advisors is an RIA specializing in Multi Family Office services. The firm is situated within the Raleigh metro area. With a substantial $1.08T AUM, CAPTRUST manages $630B in client assets under advisement and $98B in clients under management across institutional and high net worth advisory businesses.
Known for providing objective fiduciary advice, CAPTRUST operates with a national presence and offers a diverse range of services including advising DC plans, Endowments, Foundations, and Pensions. The firm emphasizes a comprehensive research process and utilizes a recommended list for investment decisions. Alternatives play a significant role in their business strategy.
Headquarters: Denver, CO
AUM: $60.26B
Mercer Advisors is a Denver-based RIA specializing in multi-family office services, managing approximately $60.26 billion in assets. The firm delivers personalized investment strategies for clients with $5–7 million in assets, emphasizing a factor-based investment approach and strong tax efficiency. Powered by the Envestnet platform, Mercer’s investment models include allocations to DFA strategies, liquid alternatives, and private funds for accredited investors. Mercer Advisors has expanded significantly through acquisitions, including Cordasco Financial Network in Philadelphia and Naples, strengthening its nationwide presence. With a commitment to integrated wealth management, Mercer offers comprehensive solutions tailored to high-net-worth client goals and outcomes.
Best Practices for Navigating RIA Aggregators
When selling to RIA aggregators, it's essential to understand their structure and decision-making processes. Each aggregator typically has a centralized home office research team responsible for curating approved lists of investment strategies, maintaining select lists and model portfolios, and managing access to alternative investments. These teams play a key role in gatekeeping investment opportunities on behalf of their advisory network and clients.
However, many of these platforms also consist of individual underlying RIA teams or “child accounts” that conduct their own due diligence across asset classes. These teams can serve as important advocates for getting your strategy evaluated and ultimately placed on the platform.
In Dakota Marketplace, we’ve listed both the centralized home office research contacts for each aggregator, as well as the underlying advisory teams. This visibility allows investment sales professionals to identify and prioritize the right points of contact, whether targeting the home office or starting with teams that can influence adoption from the ground up.
For all key contact information at these RIAs, book a demo of Dakota Marketplace here!
