Inside the Producing Advisor Population
A breakdown of the over 320K producing advisors tracked by FINTRX. A deep dive by channel, registration, career stage, credentials, gender, mobility, and geography.
Updated
How FINTRX Tracks Producing Advisors
The Producing Advisor designation in FINTRX identifies registered reps actively managing a personal book of client assets. This proprietary designation goes beyond job titles, confirming that a rep directly allocates client capital, makes investment decisions, and oversees financial relationships.
Having this intelligence allows you to accurately segment the market and create territories, target your outreach to true decision makers, improve conversion rates, and ultimately win more business.
The Producing Advisor Market in Five Numbers
Four in ten registered reps are producing advisors.
Of 804,621 registered reps tracked by FINTRX, 321,449 manage client relationships and make investment decisions.
Channel drives the producer rate.
Nearly three of four reps at independent BDs are producers, compared with one in three at bank BDs.
1 in 5 producers are female.
Women are 20.6% of producing advisors (65,862) but 26.6% of all registered reps.
Producers are the majority owners at indy RIAs.
Among independent RIA producers with an ownership stake, 61.3% own a majority of their firm, versus 32.6% of non-producer owners.
Most producers are dually registered.
221,526 producing advisors are registered as both a broker-dealer rep and an investment adviser rep.
Four in Ten Registered Reps Are Producers
FINTRX tracks 804,621 registered reps, of whom 321,449 are producing advisors. That’s 40.0%, so about six in ten registered reps don’t manage client relationships or make investment decisions.
The rest hold a license but sit in compliance, operations, supervision, or support roles, or have stepped away from client work entirely. If your data doesn’t separate the two, a large share of your calls, campaigns, and event invites reach people who can’t make or influence a decision.
Producer Rates by Channel
Nearly three of four reps at independent BDs are producers, versus one in three at bank BDs. Independent channels (IBD plus independent RIA) hold half of all producing advisors.
Each bar shows 100% of the channel’s registered reps. Select a channel for detail.
The producer rate is the share of a channel’s registered reps who are producing advisors. Independent BDs have the highest rate at 72.7%, with 85,892 producers out of 118,203 registered reps. Bank BDs have the lowest at 32.4%, with 26,891 producers out of 82,941. Insurance BDs (47.1%) and wirehouses (57.5%) fall in between. By headcount, independent BDs (26.7%) and independent RIAs (23.6%) together account for half of all producing advisors.
For teams that target by channel, the producer rate shows how much of a firm’s registered headcount is client-facing. A bank BD list that isn’t filtered for producers would be about two-thirds non-producers.
View data table
| Channel | Producing advisors | All reps | Producer rate | Share of producers |
|---|---|---|---|---|
| Independent BD | 85,892 | 118,203 | 72.7% | 26.7% |
| Non-Independent Retail RIA | 27,888 | 43,039 | 64.8% | 8.7% |
| Independent RIA | 75,777 | 118,551 | 63.9% | 23.6% |
| Wirehouse | 47,985 | 83,439 | 57.5% | 14.9% |
| Insurance BD | 51,477 | 109,287 | 47.1% | 16.0% |
| Bank BD | 26,891 | 82,941 | 32.4% | 8.4% |
Most Producers Are Dually Registered
68.9% are dually registered (221,526), 18.4% are RIA-only (59,046), and 12.7% are BD-only (40,841). 18,688 are hybrid reps (5.8%).
Dually registered advisors are registered with both a broker-dealer and an investment adviser, so they can offer commission-based brokerage and fee-based advisory services. RIA-only advisors are registered solely as investment adviser representatives, and BD-only reps are registered solely with a broker-dealer. Hybrid reps are dually registered advisors whose brokerage and advisory registrations are typically held with separate firms.
Licensing
Licensing tracks registration type: 69.7% of producing advisors hold a Series 7 and 34.1% hold a Series 65.
Series 66 holders are not included in this cut, so fee-based licensing is understated.Producers Skew a Decade Older
Producing advisors skew about a decade older than non-producers, and the share of reps who produce climbs steadily with every age band.
Select an age band for detail.
The two views answer different questions. Age distribution compares how each group is spread across age bands: each teal column is the share of all producers in that band, and each gray column is the share of all non-producers. Producer rate by age shows, within each band, what share of registered reps are producers.
The median producing advisor falls in the 46 to 50 band, while the median non-producer falls in 36 to 40. Non-producers peak at 25 to 30 (23.7% of them), consistent with careers starting in support and associate roles, while producers peak at 41 to 45. Only 22.6% of reps aged 25 to 30 are producers, but by 61 to 65 that rises to 64.8%, and past 70 nearly four in five reps still registered are producers.
View data table
| Age band | Producing advisors | % of producers | Non-producing reps | % of non-producers | Producer rate |
|---|---|---|---|---|---|
| 25–30 | 17,989 | 7.4% | 61,603 | 23.7% | 22.6% |
| 31–35 | 25,041 | 10.4% | 38,825 | 15.0% | 39.2% |
| 36–40 | 28,755 | 11.9% | 31,739 | 12.2% | 47.5% |
| 41–45 | 32,067 | 13.3% | 32,535 | 12.5% | 49.6% |
| 46–50 | 30,954 | 12.8% | 28,696 | 11.1% | 51.9% |
| 51–55 | 28,403 | 11.8% | 25,055 | 9.6% | 53.1% |
| 56–60 | 27,758 | 11.5% | 19,924 | 7.7% | 58.2% |
| 61–65 | 22,788 | 9.4% | 12,355 | 4.8% | 64.8% |
| 66–70 | 15,432 | 6.4% | 5,539 | 2.1% | 73.6% |
| 71–75 | 7,590 | 3.1% | 2,136 | 0.8% | 78.0% |
| 76+ | 4,700 | 1.9% | 1,273 | 0.5% | 78.7% |
Independent RIA Ownership Figures
17.3% of indy RIA producing advisors, roughly one in six, own a majority of their firm. Among indy RIA producers with any stake, 61.3% are majority owners versus 32.6% of non-producer owners.
Distribution of ownership stakes among owners in each group. Select a band for counts.
Each pair of bars shows the share of owners in that group who hold a stake of that size. Nearly half of producer owners (47.9%) hold 75% or more of their firm, compared with 23.5% of non-producer owners. Non-producer owners cluster at the other end, where 44.3% hold less than 5%.
Producing advisors don’t just work at independent RIAs; they own them. 21,336 indy RIA producers hold an ownership stake (28.2% of 75,777), compared with 15,551 non-producers (36.4% of 42,774).
Credentials Run From Client-Facing to Investment Roles
Nine in ten CPWA holders are producing advisors, edging out the CFP at 84.5%, and producers are about 14 times more likely than non-producers to hold one.
72,957 producers hold a CFP, 22.7% of the producing base versus 2.8% of non-producers, an 8x gap. CIMA lands in the middle at 65.5%, since a meaningful share of holders sit in investment consulting, research, and home office roles rather than client-facing seats. The CFA sits at the other end of the spectrum as the one credential held more often by non-producers than producers.
Two measures appear here. The bars show what share of each credential’s holders are producing advisors. The panel below shows how common the credential is within each group, which accounts for the dataset containing more non-producers than producers.
The most producer-heavy credential in the dataset. It is built for advisors serving high-net-worth clients directly.
View data table
| Designation | Producing advisors | All holders | % of holders who produce | % of producers | % of non-producers |
|---|---|---|---|---|---|
| CPWA | 3,322 | 3,668 | 90.6% | 1.0% | 0.07% |
| CFP | 72,957 | 86,349 | 84.5% | 22.7% | 2.8% |
| CIMA | 5,141 | 7,844 | 65.5% | 1.6% | 0.6% |
| CPA | 8,600 | 16,732 | 51.4% | 2.7% | 1.7% |
| CFA | 9,337 | 27,154 | 34.4% | 2.9% | 3.7% |
Where Producing Advisors Are Based
California leads with 33,940 producing advisors (10.6%), followed by Florida at 25,679, New York at 24,412, Texas at 23,977, and Illinois at 13,606. The top four states hold 33.6% of all producing advisors, and the top ten hold 55.5%.
A few rankings stand out: Florida edges New York for second, Michigan outranks Georgia and Massachusetts, and Colorado places ahead of Arizona, Virginia, and Washington.
Producer rates follow a different pattern. Smaller markets lead: Alaska and Hawaii are at 67.4% and West Virginia at 65.0%, against 40.9% across all states. New York has the most registered reps of any state, 131,931, but the lowest producer rate at 18.5%, followed by Rhode Island at 21.5%.
Switch between producer counts and producer rate, then select a state on the map or in the list.
View data table
| State | Producing advisors | Share of producers | Total reps | Producer rate |
|---|---|---|---|---|
| California | 33,940 | 10.6% | 73,987 | 45.9% |
| Florida | 25,679 | 8.0% | 54,673 | 47.0% |
| New York | 24,412 | 7.6% | 131,931 | 18.5% |
| Texas | 23,977 | 7.5% | 57,533 | 41.7% |
| Illinois | 13,606 | 4.2% | 37,093 | 36.7% |
| Pennsylvania | 13,412 | 4.2% | 30,863 | 43.5% |
| New Jersey | 12,427 | 3.9% | 27,669 | 44.9% |
| Ohio | 11,696 | 3.6% | 24,139 | 48.5% |
| North Carolina | 9,757 | 3.0% | 24,565 | 39.7% |
| Michigan | 9,440 | 2.9% | 15,907 | 59.3% |
| Georgia | 8,865 | 2.8% | 18,688 | 47.4% |
| Massachusetts | 8,762 | 2.7% | 23,765 | 36.9% |
| Colorado | 8,450 | 2.6% | 21,314 | 39.7% |
| Arizona | 7,674 | 2.4% | 18,146 | 42.3% |
| Virginia | 7,435 | 2.3% | 13,521 | 55.0% |
| Washington | 7,429 | 2.3% | 13,232 | 56.1% |
| Minnesota | 7,304 | 2.3% | 16,931 | 43.1% |
| Wisconsin | 6,397 | 2.0% | 12,404 | 51.6% |
| Missouri | 6,225 | 1.9% | 14,158 | 44.0% |
| Maryland | 5,724 | 1.8% | 11,145 | 51.4% |
| Tennessee | 5,589 | 1.7% | 10,765 | 51.9% |
| Indiana | 5,462 | 1.7% | 10,132 | 53.9% |
| Connecticut | 5,392 | 1.7% | 13,728 | 39.3% |
| South Carolina | 4,278 | 1.3% | 7,605 | 56.3% |
| Oregon | 3,550 | 1.1% | 5,929 | 59.9% |
| Utah | 3,532 | 1.1% | 9,412 | 37.5% |
| Iowa | 3,387 | 1.1% | 7,775 | 43.6% |
| Kansas | 3,360 | 1.0% | 6,275 | 53.5% |
| Louisiana | 3,153 | 1.0% | 5,067 | 62.2% |
| Kentucky | 3,007 | 0.9% | 7,834 | 38.4% |
| Alabama | 2,878 | 0.9% | 4,956 | 58.1% |
| Nebraska | 2,373 | 0.7% | 6,282 | 37.8% |
| Oklahoma | 2,301 | 0.7% | 4,636 | 49.6% |
| Nevada | 2,058 | 0.6% | 3,773 | 54.5% |
| New Hampshire | 2,050 | 0.6% | 5,507 | 37.2% |
| Arkansas | 1,617 | 0.5% | 2,920 | 55.4% |
| Idaho | 1,607 | 0.5% | 2,559 | 62.8% |
| Rhode Island | 1,345 | 0.4% | 6,259 | 21.5% |
| Hawaii | 1,164 | 0.4% | 1,728 | 67.4% |
| Mississippi | 1,117 | 0.3% | 1,759 | 63.5% |
| Maine | 1,044 | 0.3% | 1,885 | 55.4% |
| Montana | 963 | 0.3% | 1,673 | 57.6% |
| Delaware | 947 | 0.3% | 2,107 | 45.0% |
| New Mexico | 840 | 0.3% | 1,610 | 52.2% |
| South Dakota | 822 | 0.3% | 1,427 | 57.6% |
| District of Columbia | 787 | 0.2% | 2,065 | 38.1% |
| West Virginia | 739 | 0.2% | 1,137 | 65.0% |
| North Dakota | 662 | 0.2% | 1,071 | 61.8% |
| Vermont | 600 | 0.2% | 1,007 | 59.6% |
| Wyoming | 457 | 0.1% | 851 | 53.7% |
| Alaska | 368 | 0.1% | 546 | 67.4% |
Women Are Underrepresented Among Producers
Women are 20.6% of producing advisors (65,862) but 26.6% of all registered reps. Put another way, 31.5% of women in the dataset are producers versus 44.0% of men, which points to women being concentrated in support and non-producing roles.
The left panel shows representation: women make up 26.6% of all registered reps but 20.6% of producing advisors. The right panel shows the producer rate by gender: 31.5% of women in the dataset are producers, compared with 44.0% of men.
Source: FINTRX, October 2026Producers Move Half as Often
Only 9.0% of producers joined a new firm in the last year (28,785), versus 17.7% of non-producers, so producers move about half as often.
Producer relationships tend to be durable, with 38.4% at their current firm for 10 years or more. When producers do change firms, they typically bring client relationships and assets with them, so the 28,785 who moved in the last year represent the most time-sensitive outreach opportunities for wholesalers and recruiters.
Source: FINTRX, October 2026Frequently Asked Questions
How many financial advisors are there in the U.S.?
FINTRX tracks 804,621 registered representatives as of October 2026. Of those, 321,449, or 40.0%, are producing advisors who manage client relationships and make investment decisions. The rest hold a license but work in compliance, operations, supervision or support roles.
What is a producing advisor?
A producing advisor is a registered rep who works directly with clients and manages or influences their investment decisions. FINTRX flags producers at the contact level, so teams can separate them from licensed reps in non-client-facing roles.
What is the difference between an RIA and a broker-dealer?
A registered investment adviser (RIA) provides investment advice for a fee and registers with the SEC or a state securities regulator. A broker-dealer buys and sells securities for clients and registers with the SEC and FINRA. Dually registered advisors work under both. Among producing advisors, 68.9% are dually registered, 18.4% are RIA-only and 12.7% are BD-only.
Which channel has the most producing advisors?
Independent broker-dealers, with 85,892 producers (26.7% of all producing advisors) and the highest producer rate at 72.7%. Independent RIAs follow with 75,777. Together the two independent channels hold 50.3% of all producing advisors.
How old are most financial advisors?
The median producing advisor falls in the 46 to 50 age band, while the median non-producer falls in the 36 to 40 band. 20.9% of producers are over 60, compared with 8.2% of non-producers.
What percentage of financial advisors are women?
Women make up 20.6% of producing advisors and 26.6% of all registered reps. 31.5% of women in the dataset are producers, compared with 44.0% of men.
Which states have the most financial advisors?
By branch office location, California has the most producing advisors (33,940), followed by Florida (25,679), New York (24,412) and Texas (23,977).
How do I find a list of RIAs or financial advisors?
FINRA BrokerCheck and the SEC’s Investment Adviser Public Disclosure (IAPD) site let you look up individual reps and firms. FINTRX builds on that regulatory data with searchable lists of RIAs, broker-dealers, wealth teams and producing advisors, with contact-level data and filters for channel, state, credential and registration type.
FINTRX is the leading private wealth intelligence platform, purpose-built for firms that need to find, understand, and engage with the registered investment advisor, broker-dealer, and family office channels, with contact-level intelligence on registered reps, wealth teams, and the firms they work for.
This report covers the 804,621 registered representatives tracked in the FINTRX database as of October 22nd, 2026, of whom 321,449 are identified as producing advisors. Channel figures reflect each rep’s current firm classification.
Age bands cover 241,477 producers, about 75% of the producing base, since not every record carries an age and reps under 25 fall outside the bands. The first band spans ages 25 through 30; every band after spans five years. Non-producer counts are each band’s full-dataset total minus producers. Licensing figures cover the Series 7 and Series 65; Series 66 holders were not included, so fee-based licensing is understated.
Geography is based on branch office state. 1,389 producing advisors located in U.S. territories, abroad, or without a branch state are excluded from state rankings.
Intelligence to Connect with 320K+ Producing Advisors and Decision-Makers
FINTRX identifies producing advisors at the contact level, so your team spends its time with the advisors who manage client assets and make allocation decisions.
- Build territories around producers and their assets, not raw headcount
- Target advisors by what they already own with 13F stock & ETF holdings, AUM, and custodian data
- Get alerted when producers change firms so your wholesalers are the ones to reach out first
- Sync advisor-level data into Salesforce or HubSpot
The result is fewer wasted touches and more time spent with the advisors who move assets.
Data compiled by FINTRX from publicly available sources and proprietary research. Provided for informational purposes only; not investment advice. Accuracy not guaranteed.