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RIA Intel State Report

Massachusetts RIA Landscape — 2025

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

Source: SEC Form ADV · Updated Q4 2024
Total Firms
783
Total AUM?
$3.48T
Median AUM
$347M
13F Filers
124
AUM Tier Distribution
Under $100M122
$100M–$500M322
$500M–$1B125
$1B–$5B160
$5B+54
State Snapshot
Total Firms783
Total AUM$3.48T
Median AUM$347M
13F Filers124
High Succession Risk86
Elevated Succession Risk78
Succession Risk Breakdown
High
86 firms (11%)
Elevated
78 firms (10%)
Moderate
172 firms (22%)
Lower
431 firms (56%)
Growth Leaders — Wealth Advisory Firms
FirmCityAUM3Y CAGRSuccession
CAPSHIFT ADVISORS, LLCWEST NEWTON$495M+94.9%Lower
SANDIA INVESTMENT MANAGMENT LPBOSTON$625M+76.2%Lower
MAYFLOWER FINANCIAL ADVISORS, LLCBOSTON$4.8B+63.5%Lower
PALLAS CAPITAL ADVISORS, LLCBRAINTREE$4.3B+60.5%Lower
PATHLIGHT CAPITAL LPBOSTON$2.5B+49.5%Lower
SILVERARC CAPITAL MANAGEMENT, LLCBOSTON$1.0B+47.8%Lower
LANDON CAPITAL PARTNERS, LLCBOSTON$158M+46.0%Lower
SIGNATOR INVESTORS, INC.BOSTON$6.6B+45.3%Moderate
M&A Opportunity Signals
🎯
149Acquisition candidates
Firms with elevated/high succession risk and AUM $100M–$5B
📈
66Growing but vulnerable
Positive 3Y CAGR with high succession risk — attractive for acquirers
📉
20Mid-market shrinking
AUM $100M–$1B with negative 3Y CAGR and elevated+ succession risk
🔒 Top 25 Acquisition Targets — Ranked by Composite Score
RankFirmAUMScore
1HARBOR ISLAND CAPITAL LLC$278M46.3
2FIRST NATIONAL ADVISORS LLC$1.4B45.6
3BEATON MANAGEMENT CO INC$394M44.4
4RF&L WEALTH MANAGEMENT, LLC$325M44.3
5TIMBER CREEK CAPITAL MANAGEMENT, LLC$637M43.8
6LENK LADNER INVESTMENT SOLUTIONS LLC$311M43.7
🔒

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 Massachusetts. 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.