FinCEN AML scope: New York’s investment advisers
1,497 of New York’s SEC-registered investment advisers clear FinCEN’s three-part AML scope test, from the SEC’s own roster dated 2026-11-02. 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 39.8%. A median New York firm in scope manages $886.5 million, roughly twice the national median of $429.6 million, and only 25.1% of New York firms have 5 people or fewer, well under the national 41.4%. 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
- 1,497
- Median staff
- 11
- Fewer than 20 people
- 1,033 (69.0%)
- 5 people or fewer
- 375 (25.1%)
- Custody of client cash or securities
- 995 (66.5%)
- A related person holds custody
- 1,007 (67.3%)
- Advise at least one private fund
- 1,144 (76.4%)
- Median AUM
- $886.5 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.