Cary Street Partners Recognized as Virginia’s Fastest Growing RIA in CityWire’s 50 Growers Across America 2025

In this special report, CityWire lists and briefly chronicles the RIAs that have grown the fastest in each of the 50 states.

Originally founded as an investment bank, top Virginia grower Cary Street Partners – our runner-up in 2024 – comprises an in-house RIA, in-house broker-dealer, asset management business and insurance arm.

After making its first wealth acquisitions in 2007, the firm has grown into a frequent acquirer of RIAs and recruiter of advisors from wirehouses and banks, amassing 20 offices across seven states. The firm snapped up $200m Keene & Dorchak in Fort Worth, Texas, in April, and added a former Osaic advisor based in Sarasota, Fla., the next month.

Chief executive Joe Schmuckler said, “obviously we’re seeing growth through the M&A work and our recruiting.” But “the bigger story here is that our teams are leaning into all of the initiatives the firm has laid out that reflect what leading firms are doing to drive innovation in their business.”

“That’s everything from leaning into our investment services, what we call our Portfolio Advisory Group, and working closely with our consultative services,” Schmuckler said. “Our marketing efforts have been significantly ramped up, a lot of investment in social media, our website, SEO recognition.”

Cary Street’s recent growth has enamored at least one institutional investor; in April, the company sold a controlling interest to middle-market private equity firm CIVC Partners.

Schmuckler said the CIVC deal “confirms the story behind the data,” and will help Cary Street be a more competitive buyer in the RIA marketplace, without being “promiscuous about it.”

Echoing several other executives at top growers, Schmuckler said Cary Street this year is working to lean into AI.

“We have some pretty strong views about where this all could be going,” he said. “I think it could be quite disruptive actually to the traditional financial advisor model.”

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