A percentile score of operating efficiency for more than 7,000 RIAs based on their productivity, complexity and growth. Each compared only with firms its size.
See my firm's scoreHow it works
No cost, no obligation. Individual firm scores are never published.
In every size band from $100M to $10B, the top quarter of firms produces four to seven times the output per advisor of the bottom quarter.
Size alone can't explain the spread: the comparison is only ever between firms of similar size. What does is whether a firm adds assets faster than it adds people, and that comes down less to software than to an operating model built around how advisors actually work.
Output per advisor is the largest input to the productivity component, the base of every firm's score.
Your firm has already been scored. See which quarter it's in.
See my firm's scoreThe scale runs 1 to 99, so no firm shows 0 or 100. Higher means more output for the operational load carried.
Compared only with firms of similar size. Every firm is ranked within one of seven AUM cohorts, never against the whole market. A 49 is a position, not a grade: not 49% efficient, and not comparable across cohorts. Sample shown; illustrative figures, not a real firm.
Productivity is the base; the other two adjust how much credit it earns. A firm producing at scale under a hard book ranks above one producing the same at ease, and neither adjustment can lift a firm that is not producing. The three do not average into the score.
AUM per advisor, per employee and per office. The base of the score.
How hard the book is to run: clients per advisor, HNW concentration, custodians and offices. A credit, not a penalty.
Whether the firm is still scaling, and whether assets are outgrowing headcount.
What it does not measure. Technology, profitability, advice quality, client outcomes, or leadership. A low score is not evidence of a badly run firm, and a high score is not evidence of a well run one.
A one-page profile with your score and the three components. A supplement listing every input behind them. A short guide to how the index works. Sample shown; not a real firm.
Your percentile against firms your size, the firm data behind it, and the components with their largest contributors.
Sample profile
Every input behind the profile: its value, its rank within your cohort, and its weight. The page to check your own numbers against.
Sample supplement
What the index measures, how the components combine, why firms are compared only to their size, and what it does not measure.
Methodology summaryShare your name and firm. We'll send a preview of your firm's score and a link to schedule a complimentary fifteen-minute walkthrough of every input with our research team. If anything is wrong, we'll correct it.
No cost, no obligation.
Individual firm scores are not published, only used to rank each firm within its AUM cohort.
How the index works is published and open to your suggestions.
If any data is wrong, tell us. We'll correct it and rescore your cohort.
If you are a U.S. domiciled SEC registered adviser with $100M or more in reported AUM, it should be. Request your score above and we'll confirm it when we reach out to schedule your walkthrough.
Nothing, and there isn't one. The index is research: it exists so firms can see where they stand and so the method can be improved. Your score, the walkthrough and any corrections are free, and nothing is owed afterwards.
No. Individual scores are not published. Your result is shared and discussed only with you. Your firm's inputs do form part of the cohort every firm its size is ranked against, but the score itself is never disclosed.
No. It is a relative measure of operating characteristics within a peer cohort at a point in time, not a rating, endorsement, audit or assessment of investment performance or advisory quality.
Form ADV filings and selected third-party sources, compiled in August 2026. Firms file on their own schedules, so the age of the data varies by firm.
Some of it may be: advisers amend Form ADV on different schedules and report headcount inconsistently. The walkthrough is where we review every input with you. Where one is wrong we correct it, rescore your firm and, because the score is relative, rescore your cohort.
By judgment. They were not fitted to outcomes or validated against valuations or profitability. They are disclosed to each firm during its review but not published. We welcome suggestions to improve the inputs and calculation methodology.
At least once a year, and each edition is dated to the data it was built from. A score can move between editions for four reasons, and only the first is something you did: your operations changed, your peers improved or slipped, firms entered or left your size cohort, or your Form ADV filing changed. Read the direction over several editions, not a single move.
After thirty years in wealth management and financial technology, one question from firms now comes up more than any other: how efficiently are we operating relative to firms our size?
It comes from leaders working to scale profitably, deliver a signature experience for advisors and clients, and compound enterprise value, whether they sell someday or never.
Operating efficiency is discussed constantly and measured almost never. This index seeks to measure it and give firms a framework to improve it. We built the index with a small research team and welcome your suggestions to enhance the inputs and methodology.
Consultants, industry researchers and press: the methodology is published, and I'm glad to discuss the findings and how they might support your work. Use the contact form above or message me on LinkedIn.
The Operating Efficiency Index is an Amplify Technology, LLC research initiative published at RIA Benchmark.