BrightScope Announces New York City's Top 25 Registered Investment Advisor Firms By Assets Under Management Hot

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"This list is the first in a series that BrightScope will regularly release to highlight data contained within its Advisor Pages, a breakthrough way for people to discover, research, and select a financial advisor," says a BrightScope press release. The list of the top 25 New York RIAs is below.


"It was previously virtually impossible for the average investor to access all of the information Advisor Pages displays with just a few mouse clicks," according to Mike Alfred, the CEO of BrightScope. "As a leading financial data firm already well-established in the retirement industry, in the last few months we have made significant advancement by increasing the level of transparency into the larger wealth management marketplace, furthering our mission to help protect and advance the financial futures of America's workers."


BrightScope is aggregating "hard-to-discover" publicly available information on advisors to create a free, easy-to-use database that is searchable.


BrightScope's Advisor Pages provides investors information to help decide which advisory firms best meets their needs, by pulling together data on locations, qualifications, amount and types of assets under management, specialties, legal disputes, formal complaints and more.


BrightScope's business model is to charge $100 a month to RIAs that want to change certain data elements about their firm that are post to Advisors Pages. The model has provoked some criticism.


After BrightScope launched Advisor Pages last May, Investment News wrote a detailed story critical of the data. BrightScope co-founder Ryan Alfred fired back with a blog post defending the company's data on advisors and its business model.  


BrightScope's main business has been to rate corporate 401(k) plans. That business has also provoked some advisors who complain BrightScope data on plans is often out of date.


Top 25 RIAs by AUM, according to BrightScope

1. Silvercrest Asset Management Group LLC - $9.6B

2. Atalanta Sosnoff Management, LLC - $6.2B

3. Pinnacle Associates, Ltd. - $5.0B

4. Schafer Cullen Capital Management Inc - $4.6B

5. KLS Professional Advisors Group, LLC - $4.1B

6. Williams, Jones, & Associates - $3.5B

7. Wilkinson OGrady & Co. Inc. - $2.1B

8. Highmount Capital - $1.8B

9. W.P. Stewart & Co, Ltd. - $1.6B

10. Carret Asset Management, LLC - $1.3B

11. Neville, Rodie & Shaw Inc - $1.2B

12. Bridgewater Advisors Inc. - $899.8M

13. Chesapeake Asset Management LLC - $863.4M

14. Zephyr Management, L.P. - $724.0M

15. Altfest Personal Wealth Management - $686.4M

16. Train, Babcock Advisors LLC - $683.8M

17. Trevor Stewart Burton & Jacobsen Inc - $563.1M

18. Veris Wealth Partners, LLC - $465.2M

19. Atrato Advisors LLC - $350.0M

20. Berson & Corrado Investment Advisors, LLC - $284.7M

21. Payne Capital Management, LLC - $199.7M

22. Entrust Capital Inc. - $199.3M

23. Weiser Capital Management, LLC - $167.0M

24. Leeb Capital Management, Inc. - $120.4M

25. BH Asset Management, LLC - $104.0M

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