Largely fueled by mergers and acquisitions, the size of RIAs as measured by assets under management has grown significantly. As of December 31, 2020, there were 749 RIAs with $1B+ in AUM, up 17% from 2019. Today, there are over 130+ firms with $5B+ in AUM. To shine a light on the growing RIA landscape, FINTRX explores three of the largest registered investment advisors (RIAs) based in Colorado.
1. Janus Capital Management, LLC = ~$236B+ in AUM
Janus Capital Management, LLC was formed in 2017 from the merger of two complementary businesses that trace their roots back much further. Henderson Global Investors, which was established in the UK in 1934, largely offered bottom-up, analysis-based strategies. US-domiciled Janus Capital Group was founded in 1969, also with a strong research-based approach to security selection. The core client bases of each group were regionally distinct, and the merger of equals formed a truly global platform. Today, Janus Capital Management is a Denver, Colorado-based global asset manager helping individual, intermediary, and institutional clients achieve their long-term financial goals. As a global asset manager with over 340 investment professionals and expertise across all major asset classes, Janus seeks to benefit clients through the connections they make. The firm has significant assets under management, a broad spectrum of investment capabilities, and a distribution team with a wide reach. These capabilities are important at a time of such change at an industry, regulatory, and client level.
The outlook for markets in the foreseeable future suggests returns are likely to be relatively lower and more volatile than they have been in the past decade. In this environment, the value of active management is often crucial. Its global network of distribution and investment specialists connects its capabilities with an in-depth understanding of client needs. They then deliver tailored solutions designed to meet requirements in different markets. Janus Capital Management remains focused on acting responsibly, not only in terms of how they engage with clients but also in managing its impact on the environment and contributing to the communities in which they work.
- Founded: 2017 (with roots tracing back to 1969)
- Headquarters: Denver, CO
- Discretionary Assets: ~$236B+
- Non-Discretionary Assets: $0
- Total AUM: ~$236B+
- Specialties: Equities, fixed income, quantitative equities, multi-asset, and alternative investment solutions
2. Advised Assets Group, LLC (AAG) = ~$62.27B+ in AUM
Founded in 2000, Advised Assets Group, LLC (AAG) is an Englewood, Colorado-based investment advisory firm offering portfolio management and financial planning services to retirement plan sponsors, plan participants, and account holders in the United States. Its parent company is Great-West Life & Annuity Insurance Company. It also works closely with Empower Retirement to provide asset management services. Advised Assets Group offers a wide range of investment strategies to help plan sponsors and individuals meet their distinct financial goals. All programs help clients with retirement and asset allocation planning. When analyzing investments, AAG primarily looks at quantitative data. Advisors may also use qualitative analysis conducted by other investment professionals. The firm uses resources such as financial publications, annual reports, press releases and SEC filings to inform its investment decisions. While specific investment and retirement strategies will vary from client to client, AAG advises for the retirement accumulation phase and the 'in-retirement' phase.
- Founded: 2000
- Headquarters: Englewood, CO
- Discretionary Assets: ~$58.48B+
- Non-Discretionary Assets: ~$3.7B+
- Total AUM: ~$62.27B+
- Specialties: Retirement planning; asset allocation services using mutual funds and exchange-traded funds (ETFs), managed portfolios from third-party investment managers and financial planning
3. Public Trust Advisors, LLC = ~$48.9B+ in AUM
Founded in 2011, Public Trust Advisors, LLC is a Denver, Colorado-based investment advisor specializing in managing and servicing the investment needs of local governments nationwide. With coverage spanning the nation, Public Trust works closely with thousands of local governments to help develop and implement comprehensive and highly communicative investment strategies that best meet client needs. The firm offers public-sector clients high quality, cost-efficient investment management services that rely on market experience and proven processes. Public Trust works to safeguard the public's funds while minimizing market risk and maximizing both liquidity and yield. Nearly 5,000 public entities around the globe use its local government investment pool and separately managed account services. Public Trust also provides back-office technology, distribution and marketing, enhanced investment strategies, and exceptional client service.
- Founded: 2011
- Headquarters: Denver, CO
- Discretionary Assets: ~$43B+
- Non-Discretionary Assets: ~$5.8B+
- Total AUM: ~$48.9B+
- Specialties: Local government investment pool services; separately managed account services; fixed income investment advisory services; fund administration
A registered investment advisor (RIA) is any firm advising or managing the wealth of high-net-worth individuals or institutions. Directly regulated by the Securities Exchange Commission (SEC), RIAs offer a wide range of financial services — from wealth and investment management to direct lending and personal finance education, etc. An important distinction regarding RIAs is the fiduciary obligation to always act in the best interest of their clients.
For more information on RIAs, check out our recent blog post: Exploring the Registered Investment Advisor (RIA) Channel, or visit the FINTRX Resource Library below.
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