SEC Form ADV, by state
The largest investment adviser firms in Pennsylvania
The current SEC Form ADV data lists 617 investment adviser firms headquartered in Pennsylvania, of which 77 (12.5%) answered yes to at least one disciplinary or legal question on Form ADV Item 11. Below are the 50 largest by regulatory assets under management, a gross size measure each firm reports itself. Size is not a quality score, and no public record reports any firm's investment returns.
| Firm | City | Regulatory AUM | Fee methods | Item 11 disclosure |
|---|---|---|---|---|
| VANGUARD GROUP INC | MALVERN | $11T | % of AUMother | yes, reported |
| VANGUARD CAPITAL MANAGEMENT, LLC | MALVERN | $8.4T | % of AUMother | yes, reported |
| VANGUARD PORTFOLIO MANAGEMENT, LLC | MALVERN | $2.7T | % of AUMother | yes, reported |
| MELLON INVESTMENTS CORPORATION | PITTSBURGH | $874B | % of AUMfixedother | yes, reported |
| ENVESTNET PMC | BERWYN | $615B | % of AUMfixedsubscriptionother | none reported |
| FEDERATED INVESTMENT MANAGEMENT COMPANY | PITTSBURGH | $590B | % of AUMother | none reported |
| VANGUARD ADVISERS, INC. | MALVERN | $345B | % of AUMfixed | yes, reported |
| VANGUARD GLOBAL ADVISERS, LLC | MALVERN | $250B | % of AUM | yes, reported |
| SEI INVESTMENTS MANAGEMENT CORP | OAKS | $216B | % of AUMfixedperformance | yes, reported |
| FEDERATED INVESTMENT COUNSELING | PITTSBURGH | $207B | % of AUMperformance | none reported |
| HARTFORD FUNDS | WAYNE | $152B | % of AUMother | none reported |
| NOMURA INVESTMENT MANAGEMENT BUSINESS TRUST | PHILADELPHIA | $144B | % of AUMfixedperformance | yes, reported |
| HAMILTON LANE | CONSHOHOCKEN | $142B | % of AUMfixedperformance | none reported |
| JANNEY MONTGOMERY SCOTT LLC | PHILADELPHIA | $110B | % of AUMfixedcommissionsother | yes, reported |
| LINCOLN FINANCIAL INVESTMENTS CORPORATION | RADNOR | $102B | % of AUM | none reported |
| BRANDYWINE GLOBAL INVESTMENT MANAGEMENT, LLC | PHILADELPHIA | $65B | % of AUMperformanceother | yes, reported |
| PENN MUTUAL ASSET MANAGEMENT, LLC | CONSHOHOCKEN | $42B | % of AUM | none reported |
| ABRDN INC. | PHILADELPHIA | $41B | % of AUMfixedperformanceother | none reported |
| MORGAN STANLEY AIP GP LP | WEST CONSHOHOCKEN | $41B | % of AUMfixedperformance | yes, reported |
| PACER ADVISORS, INC. | MALVERN | $39B | % of AUM | none reported |
| CLARK CAPITAL MANAGEMENT GROUP INC | PHILADELPHIA | $36B | % of AUM | none reported |
| EXETER PROPERTY GROUP, LLC | RADNOR | $35B | % of AUMperformance | none reported |
| PNC WEALTH MANAGEMENT | PITTSBURGH | $30B | % of AUM | yes, reported |
| ETF ARCHITECT | NEWTOWN SQUARE | $30B | % of AUMfixed | none reported |
| HIRTLE & CO., LLC | WEST CONSHOHOCKEN | $25B | % of AUMperformance | none reported |
| XPONANCE LLC | PHILADELPHIA | $24B | % of AUMfixedperformance | none reported |
| LINCOLN INVESTMENT | FORT WASHINGTON | $22B | % of AUMhourlyfixedcommissions | yes, reported |
| ENVESTNET PORTFOLIO SOLUTIONS, INC. | BERWYN | $17B | % of AUMfixedsubscriptionother | none reported |
| ENVESTNET RETIREMENT SOLUTIONS, LLC | BERWYN | $16B | % of AUMfixed | none reported |
| VENERABLE INVESTMENT ADVISERS, LLC | WEST CHESTER | $16B | % of AUM | none reported |
| FS/KKR ADVISOR, LLC | PHILADELPHIA | $16B | % of AUMperformanceother | none reported |
| MYCIO WEALTH PARTNERS, LLC | PHILADELPHIA | $16B | % of AUMhourlyfixed | none reported |
| FEDERATED EQUITY MANAGEMENT COMPANY OF PENNSYLVANIA | PITTSBURGH | $14B | % of AUM | none reported |
| CENTERSQUARE INVESTMENT MANAGEMENT LLC | CONSHOHOCKEN | $14B | % of AUMperformanceother | none reported |
| ALPHA ARCHITECT | NEWTOWN SQUARE | $14B | % of AUMfixed | none reported |
| CHARTWELL INVESTMENT PARTNERS, LLC | BERWYN | $13B | % of AUMfixed | none reported |
| CS MCKEE | WARRENDALE | $12B | % of AUMperformance | none reported |
| QRG CAPITAL MANAGEMENT, INC. | BERWYN | $11B | % of AUM | none reported |
| CBRE INVESTMENT MANAGEMENT LISTED REAL ASSETS LLC | RADNOR | $11B | % of AUMperformance | yes, reported |
| COOKE & BIELER, L.P. | PHILADELPHIA | $11B | % of AUMperformance | none reported |
| FRANKLIN PARK | BALA CYNWYD | $10B | % of AUMfixedperformance | none reported |
| CALLAN FAMILY OFFICE, LLC | RADNOR | $10B | % of AUMfixed | none reported |
| ARIN RISK ADVISORS LLC | CONSHOHOCKEN | $10B | % of AUMhourlyfixedperformance | none reported |
| CONRAD SIEGEL INVESTMENT ADVISORS | HARRISBURG | $10B | % of AUMhourlyfixed | none reported |
| CORNERSTONE ADVISORS ASSET MANAGEMENT, LLC | BETHLEHEM | $9.6B | % of AUMfixed | none reported |
| GARDNER RUSSO & QUINN LLC | LANCASTER | $9.4B | % of AUMperformance | none reported |
| FS REIT ADVISOR, LLC | PHILADELPHIA | $9.1B | % of AUMperformanceother | none reported |
| HORNOR, TOWNSEND & KENT, LLC | CONSHOHOCKEN | $9.0B | % of AUMhourlyfixedother | yes, reported |
| CAPITAL ANALYSTS | FORT WASHINGTON | $8.8B | % of AUMfixed | yes, reported |
| TIFF INVESTMENT MANAGEMENT | RADNOR | $8.6B | % of AUMfixedperformanceother | none reported |
Source: SEC Form ADV monthly data, firms reporting a Pennsylvaniaheadquarters address. Fee-method chips are the compensation arrangements each firm checked on Item 5.E; the disclosure column is the firm's own answer to Item 11. Click through to any firm for the full record and a link to its SEC detail page.
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