Is Diversify Now the Largest Wealth Management Firm Based in Utah? Maybe So.
With its acquisition of Boston-based Harding Financial and Insurance, Salt Lake City-based Diversify Wealth Management now reports $11.2 billion in assets under management. This acquisition puts Diversify neck-and-neck with St. George-based Soltis Investment Advisors as the largest independent wealth firms in Utah.
26 November 2025 — With its recently announced acquisition of Boston, Massachusetts-based Harding Financial and Insurance, it appears that Salt Lake City-based Diversify Wealth Management is now the No. 1 independent wealth-management firm headquartered in Utah, reporting $11.2 billion in assets under management (AUM).
Or not.
Here’s the rest of the story.
A Little Background on Diversify
Founded in 2010 by Travis D. Parry and several Utah financial advisors, Diversify was built around a simple premise: independence, autonomy and a platform that removes the operational drag that slows advisor growth.
What began as a homegrown Utah advisory shop gradually expanded into a national, multi-office independent RIA (Registered Investment Advisory), one still privately held, still advisor-led, but a firm that now operated across wealth management, tax planning, insurance, and retirement services.
Over the past two years, Diversify has accelerated into full-scale national expansion, focusing on mid-sized advisory teams that can plug directly into its advisor-centric model.
The strategy has reshaped the firm’s growth curve, as well as its place in Utah’s wealth-management hierarchy.
The Harding Deal and Two Prior Additions
Earlier this month (November 18th to be precise), Diversify announced its addition of Harding, a Boston-based advisory team overseeing roughly $650 million in client assets.
And, as Ryan Smith, Diversify CEO, said:
"(Harding has) a very experienced team of advisors, who have built an amazing business. They were understandably very methodical in their decision-making process, and we could not be more excited to welcome them to the Diversify family."
This was the firm’s third major expansion move of 2025.
In June 2025, Diversify acquired Sandy, Utah-based Inventa Wealth Advisors, with its ~$450 million in AUM, a move that pushed Diversify's total AUM above $10 billion.
Three months later, Diversify added the $170 million in AUM from Boston Wealth Advisory Group when it joined forces with Diversify on 11 September 2025.
And now the Harding acquisition has vaulted Diversify to ~$11.2 billion in AUM and Assets Under Advisement (AUA).
So who else plays in this rarified air in Utah?
Utah’s Independent Wealth-Management Landscape: The Top Tier
When looking strictly at independent, privately held wealth-management firms headquartered in Utah, the picture becomes clearer, although not fully settled.
Here are the Top 5, using the largest sourceable AUM figure for each.
1. Diversify Wealth Management
AUM/AUA: $11.2 billion
Description: A rapidly expanding, advisor-led independent RIA with a growing national footprint across wealth, tax, and insurance services.
2. Soltis Investment Advisors (St. George, Utah)
Description: One of Utah’s oldest fee-only RIAs, serving individual investors, families, and large retirement plans.
3. North Capital (Salt Lake City)
AUM: ~$6.0 billion
Description: A privately owned, multi-office RIA serving private clients and institutions across the western U.S.
4. Sepio Capital (Cottonwood Heights, Utah)
AUM: ~$5.06 billion
Description: A privately owned, multi-office RIA serving private clients and institutions across the western U.S.
5. Crewe Advisors (Salt Lake City)
AUM: ~$3.0 billion
Description: A private wealth-management and investment-advisory firm serving high-net-worth and institutional clients, with M&A advisory offered via affiliates.
So ... Is Diversify No. 1?
Here’s the "truth."
Based upon its self-reported figures (from the Harding acquisition news release), Diversify now sits at $11.2 billion in AUM/AUA.
And although it's self-reported, its $11.2 billion figure is fully sourceable and recent.
Soltis is still right there, and may still be No. 1 depending on which metric is used.
Conversely, although Soltis announced “more than $11 billion” in August 2025, it did not provide an exact figure.
Additionally, its most recent discretionary AUM filing was lower.
As such, the inexactness makes a definitive ranking impossible by Utah Money Watch without more granular data.
What's most important?
Two Utah-based, privately held, independent wealth firms — Diversify and Soltis — are now operating at over $10 billion each ($11+ billion to be exact).
That's a pretty big deal, as no other Utah-headquartered firm is within $5 billion of that threshold.
My Bottom Line
Diversify has surged into the top tier and may be No. 1.
Today.
Conversely, Soltis has held the crown for years, a position it may still hold.
Honestly, I don't know.
What I do know is this:
Utah now has two homegrown independent wealth-management platforms operating at a national scale.
That said, the next milestone ... the race to $15 billion ... may be where the real separation begins to show.
Publisher's Note
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