Clients per advisor for Institution firms in Pennsylvania

In Pennsylvania, there are 27 institution-scale financial advisory firms, reflecting a robust presence of large, multifaceted organizations often linked to banks, broker-dealers, or insurance companies. Advisors at these firms typically manage around 90 clients each, aligning closely with the broader pattern seen in similar firms nationwide. This client load suggests a balance between personalized attention and scalable service models, indicating that Pennsylvania’s institutional advisors may offer a mix of relationship-driven and efficient advisory approaches. For clients, this means options range from more individualized service to models designed for broader accessibility and potentially lower fees.

Firm	Client/advisor ratio	Clients	Advisors	Staff
Equitable Advisors	Very Low 16	71,990	4,585	5,674
Primerica Advisors	Very Low 18	67,586	3,710	3,992
LPL Enterprise	Very Low 34	102,071	3,023	5,215
Thrivent Investment Management	Very Low 41	124,646	3,050	3,901
STIFEL	Very Low 69	230,676	3,326	6,478
Merrill	Very Low 70	1,791,731	25,612	32,960
RBC Capital Markets	Low 73	275,938	3,801	8,781
OSAIC	Low 73	569,367	7,827	8,979
Fisher Investments	Low 73	199,061	2,723	4,369
Raymond James Financial	Low 76	493,979	6,494	9,675
Cetera	Low 77	801,652	10,350	10,350
LPL Financial	Typical 90	1,962,908	21,907	41,879
Wells Fargo Clearing	Typical 90	1,298,616	14,470	18,895
J.P. Morgan Securities	Typical 90	1,234,172	13,660	13,660
Cambridge Investment Research Advisors	Typical 91	355,872	3,909	3,909
Mass Mutual Investors Services	Typical 92	448,837	4,903	6,976
Robert Baird & Co.	High 92	236,131	2,571	4,322
Raymond James & Associates	High 94	513,125	5,437	16,780
Ameriprise	High 107	1,373,063	12,784	14,056
Morgan Stanley	High 114	2,644,338	23,144	29,481
UBS Financial Services	High 116	1,098,059	9,492	12,524
Wells Fargo Advisors	Very High 122	455,837	3,737	4,047
Fidelity	Very High 140	2,390,975	17,080	17,112
Charles Schwab	Very High 143	955,800	6,702	30,690
Edward Jones	Very High 170	4,030,222	23,701	36,317
Vanguard Advisers	Very High 352	791,495	2,247	2,247
Edelman Financial Engines	Very High 692	477,170	690	1,679

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Clients per advisor for Institution firms serving clients in Pennsylvania