FinCEN AML scope: Colorado’s investment advisers
253 of Colorado’s SEC-registered investment advisers clear FinCEN’s three-part AML scope test, from the SEC’s own roster dated 2026-10-02. See the exact filter and sources for how that population is defined.
What stands out in Colorado
A median Colorado firm in scope manages $315.3 million, the lowest median AUM among the ten largest states, and 44.7% of its firms have 5 people or fewer, the second-highest concentration of small firms in this group, both against a national median of $431.1 million and a national 5-or-fewer share of 41.3%. Colorado's in-scope firms run leaner than almost anywhere else on this list.
Colorado’s numbers, in full
- Firms in scope
- 253
- Median staff
- 6
- Fewer than 20 people
- 219 (86.6%)
- 5 people or fewer
- 113 (44.7%)
- Custody of client cash or securities
- 164 (64.8%)
- A related person holds custody
- 63 (24.9%)
- Advise at least one private fund
- 77 (30.4%)
- Median AUM
- $315.3 million
This page is independent research, not legal advice, computed from the SEC’s own public roster of investment advisers. See the method and sources. Verify anything load-bearing against the Federal Register text itself before acting on it. The custody figures above count roster disclosures only. Whether a qualified custodian’s own AML program covers the adviser is a separate question, answered on its own page.