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

2,517

Total AUM?

$1.24T

Median AUM

$91M

13F Filers

400

AUM Tier Distribution

Under $100M517

$100M–$500M1174

$500M–$1B347

$1B–$5B380

$5B+99

State Snapshot

Total Firms2,517

Total AUM$1.24T

Median AUM$91M

13F Filers400

High Succession Risk233

Elevated Succession Risk204

Succession Risk Breakdown

High

75 firms (8%)

Elevated

76 firms (8%)

Moderate

208 firms (21%)

Lower

641 firms (64%)

Growth Leaders — Wealth Advisory Firms

Firm	City	AUM	3Y CAGR	Succession
GOLDEN STATE EQUITY ADVISORS, LLC	SOUTH COAST METRO	$405M	+146.2%	Lower
PACIFIC POINTE ADVISORS LLC	SANTA BARBARA	$173M	+138.3%	Moderate
AMERICAN INFRASTRUCTURE PARTNERS, LLC	FOSTER CITY	$1.7B	+110.1%	Lower
FLIGHT DECK CAPITAL, LP	SAN FRANCISCO	$235M	+106.8%	Lower
CARBON COLLECTIVE INVESTING, LLC	OAKLAND	$233M	+102.2%	Lower
QUIET CAPITAL MANAGEMENT, LLC	SAN FRANCISCO	$5.4B	+100.0%	Lower
AIRE ADVISORS, LLC	BEVERLY HILLS	$1.0B	+97.4%	Elevated
PENSION ARCHITECTS ADVISORY GROUP, LLC	PASADENA	$716M	+97.1%	Lower

M&A Opportunity Signals

🎯

406Acquisition candidates

Firms with elevated/high succession risk and AUM $100M–$5B

📈

175Growing but vulnerable

Positive 3Y CAGR with high succession risk — attractive for acquirers

📉

65Mid-market shrinking

AUM $100M–$1B with negative 3Y CAGR and elevated+ succession risk

🔒 Top 25 Acquisition Targets — Ranked by Composite Score

Rank	Firm	AUM	Score
1	G.W. SHERWOLD ASSOCIATES, INC.	$572M	61.4
2	ALPHA ANALYTICS INVESTMENT GROUP LLC	$235M	51.4
3	WEINBERGER ASSET MANAGEMENT, INC	$444M	49.6
4	SUMMIT FINANCIAL ADVISORS, LLC	$519M	48.2
5	BRIAN D. LOWDER, INC.	$388M	46.1
6	HOERTKORN RICHARD CHARLES	$282M	45.2

🔒

Acquisition Target Rankings

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

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.