New Hampshire RIA Landscape — 2025

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

Source: SEC Form ADV · Updated Q4 2024

Total Firms

99

Total AUM?

$52.3B

Median AUM

$265M

13F Filers

27

AUM Tier Distribution

Under $100M14

$100M–$500M62

$500M–$1B16

$1B–$5B6

$5B+1

State Snapshot

Total Firms99

Total AUM$52.3B

Median AUM$265M

13F Filers27

High Succession Risk25

Elevated Succession Risk12

Succession Risk Breakdown

High

25 firms (26%)

Elevated

12 firms (12%)

Moderate

21 firms (21%)

Lower

40 firms (41%)

Growth Leaders — Wealth Advisory Firms

Firm	City	AUM	3Y CAGR	Succession
LAKE STREET ADVISORS, LLC	PORTSMOUTH	$2.7B	+113.5%	Lower
CLARK ASSET MANAGEMENT, LLC	PORTSMOUTH	$778M	+60.2%	Lower
PAX ELLEVATE MANAGEMENT LLC	PORTSMOUTH	$462M	+54.5%	Lower
GRANITE FINANCIAL PARTNERS, LLC	MILFORD	$250M	+31.8%	Lower
AURELIUS FAMILY OFFICE, LLC	BEDFORD	$266M	+27.3%	Moderate
ARCADIA WEALTH MANAGEMENT, LLC	MANCHESTER	$446M	+27.0%	Lower
BROPHY WEALTH MANAGEMENT, LLC	BEDFORD	$513M	+24.4%	Moderate
MILESTONE FINANCIAL PLANNING, LLC	BEDFORD	$590M	+19.3%	Lower

M&A Opportunity Signals

🎯

36Acquisition candidates

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

📈

21Growing but vulnerable

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

📉

5Mid-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	HARBOR ADVISORY CORPORATION	$444M	45.8
2	ESSENTIAL PLANNING, LLC	$440M	45.6
3	HEPWORTH EQUITY PARTNERS, LLC	$120M	45
4	ELDRIDGE INVESTMENT ADVISORS INC	$791M	42.1
5	CREEGAN & NASSOURA FINANCIAL GROUP, LLC	$282M	42
6	LUMBARD & KELLNER, LLC	$357M	40.8

🔒

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 New Hampshire. 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.