Nevada RIA Landscape — 2025

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

Source: SEC Form ADV · Updated Q4 2024

Total Firms

84

Total AUM?

$46.8B

Median AUM

$210M

13F Filers

13

AUM Tier Distribution

Under $100M21

$100M–$500M45

$500M–$1B9

$1B–$5B6

$5B+3

State Snapshot

Total Firms84

Total AUM$46.8B

Median AUM$210M

13F Filers13

High Succession Risk13

Elevated Succession Risk9

Succession Risk Breakdown

High

13 firms (16%)

Elevated

9 firms (11%)

Moderate

18 firms (22%)

Lower

43 firms (52%)

Growth Leaders — Wealth Advisory Firms

Firm	City	AUM	3Y CAGR	Succession
FORTHRIGHT CAPITAL ADVISORY LLC	LAS VEGAS	$65M	+65.1%	Moderate
THE AMERIFLEX GROUP, INC.	LAS VEGAS	$9.4B	+61.4%	Moderate
BIDART & ROSS INC	RENO	$229M	+45.5%	Lower
RAREVIEW CAPITAL LLC	LAS VEGAS	$424M	+45.5%	Lower
EVOLUTION CAPITAL MANAGEMENT LLC	CRYSTAL BAY	$646M	+41.3%	Lower
WCG WEALTH ADVISORS, LLC	LAS VEGAS	$5.4B	+33.6%	Moderate
DIGITAL ALPHA ADVISORS, LLC	HENDERSON	$2.4B	+32.3%	Lower
BELPOINTE ASSET MANAGEMENT LLC	RENO	$6.0B	+26.8%	Moderate

M&A Opportunity Signals

🎯

22Acquisition candidates

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

📈

11Growing but vulnerable

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

📉

2Mid-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	THE INVESTMENT COUNSEL COMPANY OF NEVADA	$1.8B	47.8
2	INVESTMENT MANAGEMENT CONSULTANTS	$382M	41
3	RB CAPITAL MANAGEMENT, LLC	$817M	40.3
4	SUMMIT PORTFOLIO MANAGEMENT LLC	$170M	39.6
5	HALLADOR INVESTMENT ADVISORS, INC.	$315M	39.4
6	AMERICAN WEALTH MANAGEMENT	$761M	38.3

🔒

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 Nevada. 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.