FinCEN AML scope: Massachusetts's investment advisers
436 of Massachusetts's SEC-registered investment advisers clear FinCEN's three-part AML scope test, from the SEC's own roster dated 2026-08-03. See the exact filter and sources for how that population is defined.
What stands out in Massachusetts
A median Massachusetts firm in scope manages $706.4 million, the second-highest median AUM among the ten largest states, behind only New York. Its median staff of 9 also runs above the national median of 7, and 46.8% of its firms advise at least one private fund against a national 39.8%. Massachusetts firms in this population skew larger and more fund-exposed than most of the other nine states here.
Massachusetts's numbers, in full
- Firms in scope
- 436
- Median staff
- 9
- Fewer than 20 people
- 318 (72.9%)
- 5 people or fewer
- 139 (31.9%)
- Custody of client cash or securities
- 281 (64.4%)
- A related person holds custody
- 203 (46.6%)
- Advise at least one private fund
- 204 (46.8%)
- Median AUM
- $706.4 million
Firms in scope
Median staff
Fewer than 20 people
5 people or fewer
Custody of client cash or securities
A related person holds custody
Advise at least one private fund
Median AUM
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.