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RIA Intel State Report

Utah RIA Landscape — 2025

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

Source: SEC Form ADV · Updated Q4 2024
Total Firms
178
Total AUM?
$151.7B
Median AUM
$307M
13F Filers
30
AUM Tier Distribution
Under $100M36
$100M–$500M91
$500M–$1B23
$1B–$5B25
$5B+3
State Snapshot
Total Firms178
Total AUM$151.7B
Median AUM$307M
13F Filers30
High Succession Risk13
Elevated Succession Risk17
Succession Risk Breakdown
High
13 firms (7%)
Elevated
17 firms (10%)
Moderate
28 firms (16%)
Lower
118 firms (67%)
Growth Leaders — Wealth Advisory Firms
FirmCityAUM3Y CAGRSuccession
SUNDANCE BAY INVESTMENT MANAGER, LLCSALT LAKE CITY$2.1B+66.2%Lower
CLIFFORD CAPITAL PARTNERS, LLCALPINE$497M+63.7%Moderate
ANDINA CAPITAL MANAGEMENT, LLCLOGAN$1.0B+48.7%Elevated
FORESIGHT WEALTH MANAGEMENT, LLCDRAPER$1.3B+48.4%Lower
THE CYNOSURE GROUPSALT LAKE CITY$6.6B+36.7%Elevated
CREWE ADVISORS LLCSALT LAKE CITY$2.5B+30.4%Lower
TOWER ARCH CAPITAL, L.P.DRAPER$1.9B+29.3%Lower
FIC-SALT LAKE, LLCSALT LAKE CITY$420M+28.6%Lower
M&A Opportunity Signals
🎯
28Acquisition candidates
Firms with elevated/high succession risk and AUM $100M–$5B
📈
13Growing 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
RankFirmAUMScore
1ANDINA CAPITAL MANAGEMENT, LLC$1.0B57.2
2IRON GATE GLOBAL ADVISORS, LLC$1.1B50.9
3ABG CONSULTANTS, LLC$576M43.7
4PHYSICIAN WEALTH ADVISORS, INC.$1.7B42.3
5CANNON TINGEY INVESTMENT ADVISORS INC$385M42.3
6BLUE BARN WEALTH, LLC$317M41.6
🔒

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 Utah. 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.