Updated July 23, 2026. Quick answer: Michigan has 298 SEC-registered investment adviser firms (#14 nationally) managing $562.8 billion in total regulatory assets (#24 nationally) as of the July 1, 2026 SEC roster. The median Michigan firm manages $373 million, against a national median of $460 million.
Michigan financial advisor statistics (2026)
| Measure | Michigan |
|---|---|
| SEC-registered advisor firms | 298 |
| National rank by firm count | #14 |
| Total regulatory AUM | $562.8 billion |
| National rank by AUM | #24 |
| Median firm regulatory AUM | $373 million |
| Share of all US firms | 2.0% |
Michigan advisor firms by size
| Firm size (regulatory AUM) | Firms |
|---|---|
| Under $100M | 9 |
| $100M-$1B | 220 |
| $1B-$10B | 56 |
| Over $10B | 8 |
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Cite this page: Clear Money Guide, “Michigan Financial Advisor Statistics 2026,” computed from the SEC Investment Adviser public roster (report date July 1, 2026). Free to cite with a link to this page.
Methodology
Figures are computed from the official SEC Investment Adviser firm roster (FOIA download, report date July 1, 2026), deduplicated by CRD number (zero duplicates found). “Regulatory AUM” is Form ADV Item 5.F.(2)(c) – total regulatory assets under management; 615 firms reporting $0 RAUM are excluded from AUM statistics. State assignment uses each firm’s main-office address; SEC-registered firms only (state-registered advisers are not included). Every figure was independently recomputed by a second automated reviewer before publication. Full details: how Clear Money Guide computes its numbers. This page was materially reviewed on July 23, 2026, and is educational – not personalized financial, tax, legal, or investment advice. See our Editorial Policy, Corrections, Affiliate Disclosure, and Disclaimer.