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Day brief
Advisor net flow finished at -$9B on September 4, 2026, driven down by massive advisory exits despite strong additions among active firms. SUMMIT FINANCIAL, LLC led headline movers by adding $3.9B in regulatory AUM, while U.S. CAPITAL WEALTH ADVISORS, LLC headlined departing firms with an $8.8B exit.
SUMMIT FINANCIAL, LLC topped all gainers with a 17.3% surge, lifting its assets from $22.5B to $26.3B. LEVEL FINANCIAL ADVISORS, INC. advanced $112.5M to finish at $975.2M, and SOUNDPATH RETIREMENT STRATEGIES, LLC grew $24.1M to $158.5M. Offsetting those gains, TRU INDEPENDENCE ASSET MANAGEMENT 2, LLC saw the steepest drop, losing $172.1M, or 65%, to fall to $92.7M.
Exits removed $13.7B across two firms, dominated by U.S. CAPITAL WEALTH ADVISORS, LLC at $8.8B and 20 GATES MANAGEMENT LLC at $5B. Newly registered firms added $927.1M in AUM across eight entrants, led by OLIVE PARTNERS MANAGEMENT with $465.2M, FUNDSMITH PARTNERS US LLC with $435.3M, and DANTES OUTLOOK with $26M.
Also tracked: advisors -51 · locations +11
Top 3 AUM gains · $4B tracked across 3 firms
Top 1 AUM drops · $172.1M tracked across 1 firms
Top 3 by reported AUM · $927.1M entered · 4 of 8 new names had AUM
Top 2 by last reported AUM · $13.7B left · 2 of 2 exits had AUM