Benchmarks · United States · Under $100M AUM
What is an RIA under $100M worth?
At the smallest size the Sica Fletcher SCF Index publishes (about $100M of AUM, $3M of revenue or $1M of EBITDA), practices have traded at 0.9–1.3% of AUM, 2.5–3.0× revenue and 4.8–5.7× EBITDA. Firms in this tier are smaller than the smallest size the index publishes.
At those AUM percentages, the median firm in this tier nationally, with $42.7M of AUM, would come to $384K–$555K.
That is one of seven methods. The other six need your revenue, profit and client figures, which Form ADV doesn't carry.
Across the national tier
The spread of firms this size.
AUM
Filed
$42.7M · $11.9M–$72.1M
$354K$90.6M
Clients
Filed
49 · 19–136
6320
AUM per client
Derived from two filed figures
$549K · $148K–$1.58M
$2K$3.74M
Staff
Total employees, filed
2 · 1–5
110
Clients per staff member
Derived from two filed figures
21 · 7–54
1.9123
Each line runs from the 10th to the 90th percentile; the bar is the middle half and the tick is the median, shown first, then the middle half. AUM per client and clients per staff member are derived from two filed figures.
6 firms nationally did not file a staff count.
6 firms nationally did not file a client or staff count.
What's on file
How firms this size are set up.
Five or more advisory staff
Item 5.B(1)
Two or more offices besides the main one
Item 1.F(5)
Two or more qualified custodians
Item 9.F
Has custody of client assets
Item 9
Each share counts only the firms that filed that item.
Published multiples for this size
Two publishers, two different ranges.
| Publisher | Measure and size | Range | Edition | In ValuationMCP |
|---|---|---|---|---|
| Sica Fletcher SCF Index | Share of AUM · ≈$100M AUM | 0.9–1.3% | 2024 | Prices the valuation |
| Sica Fletcher SCF Index | Revenue · ≈$3M revenue | 2.5–3.0× | 2024 | Prices the valuation |
| Sica Fletcher SCF Index | EBITDA · ≈$1M EBITDA | 4.8–5.7× | 2024 | Prices the valuation |
| CT Acquisitions | SDE · Under $100M AUM | 4.5–7.0× | Jul 2026 | Shown for comparison |
| CT Acquisitions | Recurring revenue · Under $100M AUM | 1.5–2.7× | Jul 2026 | Shown for comparison |
Published ranges for firms of a size, not deal comparables. Within each SCF size, niche and specialist RIAs sit at the top of the range and retirement-plan advisors at the bottom. Other publishers are shown for comparison and never enter a valuation.
Retirement plans in the United States
For advisors who serve plans.
Defined-contribution plans' Form 5500 filings, filing year 2024. A percentile is a position in this group of plans, never a judgement on any one plan's fees.
Plan filings
93,209
Median participants
121
Median service-provider pay
$57K
Schedule C, 45,439 plans reported it
Form 5500 via 5500mcp.ai · refreshed 3 Sep 2026
Pick a state
Under $100M by state
RIAs serving individuals with Under $100M of AUM, by the state on their Form ADV, as of 3 Nov 2026. Each tile opens that state's page. 263 firms in this tier aren't matched to any state (no state on file, a territory or abroad), so they appear only in the national tier.
Most firms at Under $100M
- What is an RIA under $100M worth in New York?221 firms
- What is an RIA under $100M worth in California?43 firms
- What is an RIA under $100M worth in Florida?27 firms
- What is an RIA under $100M worth in Texas?25 firms
- What is an RIA under $100M worth in Massachusetts?11 firms
- What is an RIA under $100M worth in Illinois?10 firms
Other sizes
- $100M–$250M3,572 firms
- $250M–$500M2,362 firms
- $500M–$1B1,591 firms
- $1B–$5B1,638 firms
- $5B and up785 firms
FAQ
Questions owners ask
Is this an appraisal of my firm?
No. It shows public filings and published ranges for firms like yours. A valuation needs your own revenue, profit and client figures; ValuationMCP runs seven methods on them and shows the range.
Why aren't revenue and profit shown?
Form ADV doesn't ask for them. They come from your own systems, which are read only when you start a pull.
How current is this?
The Form ADV figures are as of 3 Nov 2026, and this page refreshes them weekly. The SCF Index is checked weekly for a new edition, and a new edition is reviewed before ValuationMCP prices from it.
Get your firm's number in Claude.
Seven methods on your own figures, with the range and the source of every input.
Sources: U.S. SEC Form ADV, via advmcp.ai, as of 3 Nov 2026 · U.S. Department of Labor Form 5500, via 5500mcp.ai, refreshed 3 Sep 2026 · Sica Fletcher, RIA Valuation Multiples (SCF Index), 2024 edition · CT Acquisitions — RIA and Wealth Management M&A Multiples 2026, Jul 2026