FinCEN AML scope: New York’s investment advisers
1,506 of New York’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 New York
76.4% of New York's firms advise at least one private fund, the highest share of the ten largest states, and nearly double the national rate of 39.9%. A median New York firm in scope manages $879.0 million, roughly twice the national median of $431.1 million, and only 25.0% of New York firms have 5 people or fewer, well under the national 41.3%. New York looks less like the rest of this list and more like the industry's center of gravity.
New York’s numbers, in full
- Firms in scope
- 1,506
- Median staff
- 11
- Fewer than 20 people
- 1,039 (69.0%)
- 5 people or fewer
- 376 (25.0%)
- Custody of client cash or securities
- 1,001 (66.5%)
- A related person holds custody
- 1,012 (67.2%)
- Advise at least one private fund
- 1,151 (76.4%)
- Median AUM
- $879.0 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.