FinCEN AML scope: Florida’s investment advisers
720 of Florida’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 Florida
46.4% of Florida's firms have 5 people or fewer, the highest concentration of small firms among the ten largest states, well above the national 41.3%. Florida's median AUM of $345.9 million sits below the national median of $431.1 million, and 84.9% of its firms have fewer than 20 people. This is a state of lean shops, not large ones, and every one of them still owes the same program as a 200-person firm.
Florida’s numbers, in full
- Firms in scope
- 720
- Median staff
- 6
- Fewer than 20 people
- 611 (84.9%)
- 5 people or fewer
- 334 (46.4%)
- Custody of client cash or securities
- 394 (54.7%)
- A related person holds custody
- 257 (35.7%)
- Advise at least one private fund
- 286 (39.7%)
- Median AUM
- $345.9 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.