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RIA Intel State Report

California RIA Landscape — 2025

A data-driven overview of SEC-registered wealth advisory firms headquartered in California, including growth trends, succession risk analysis, and M&A opportunity signals.

Source: SEC Form ADV · Updated Q4 2024
Total Firms
2,462
Total AUM?
$1.70T
Median AUM
$97M
13F Filers
405
AUM Tier Distribution
Under $100M509
$100M–$500M1149
$500M–$1B332
$1B–$5B376
$5B+96
State Snapshot
Total Firms2,462
Total AUM$1.70T
Median AUM$97M
13F Filers405
High Succession Risk235
Elevated Succession Risk206
Succession Risk Breakdown
High
217 firms (22%)
Elevated
160 firms (16%)
Moderate
331 firms (33%)
Lower
292 firms (29%)
Growth Leaders — Wealth Advisory Firms
FirmCityAUM3Y CAGRSuccession
GOLDEN STATE EQUITY ADVISORS, LLCSOUTH COAST METRO$405M+146.2%Lower
PACIFIC POINTE ADVISORS LLCSANTA BARBARA$173M+138.3%Moderate
AMERICAN INFRASTRUCTURE PARTNERS, LLCFOSTER CITY$1.7B+110.1%Lower
FLIGHT DECK CAPITAL, LPSAN FRANCISCO$235M+106.8%Lower
CARBON COLLECTIVE INVESTING, LLCOAKLAND$233M+102.2%Lower
QUIET CAPITAL MANAGEMENT, LLCSAN FRANCISCO$2.5B+100.0%Lower
AIRE ADVISORS, LLCBEVERLY HILLS$1.0B+97.4%Elevated
PENSION ARCHITECTS ADVISORY GROUP, LLCPASADENA$716M+97.1%Lower
M&A Opportunity Signals
🎯
411Acquisition candidates
Firms with elevated/high succession risk and AUM $100M–$5B
📈
178Growing but vulnerable
Positive 3Y CAGR with high succession risk — attractive for acquirers
📉
66Mid-market shrinking
AUM $100M–$1B with negative 3Y CAGR and elevated+ succession risk
🔒 Top 25 Acquisition Targets — Ranked by Composite Score
RankFirmAUMScore
1G.W. SHERWOLD ASSOCIATES, INC.$572M60.4
2ALPHA ANALYTICS INVESTMENT GROUP LLC$235M51.6
3WEINBERGER ASSET MANAGEMENT, INC$444M50.9
4WIMMER ASSOCIATES I, LLC$441M46.1
5WP ADVISORS, LLC$506M46
6HOERTKORN RICHARD CHARLES$282M45.7
🔒

Acquisition Target Rankings

Full ranked list of 25 acquisition targets with composite scores based on succession risk, growth trajectory, and peer benchmarking.

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Methodology. This report covers SEC-registered investment advisers classified as wealth advisory firms (filter: is_wealth_advisory = true) headquartered in California. AUM figures are drawn from the most recent Form ADV filing. Succession risk tiers are computed using a proprietary 5-pillar model incorporating founder tenure, ownership concentration, AUM dependency, team depth, and filing recency. Growth CAGR is calculated from the three most recent annual filings where available. Acquisition scores blend succession risk (40%), AUM growth trajectory (35%), and national peer rank (25%). Data sourced from SEC EDGAR. This page is for informational purposes only and does not constitute investment advice.