Pennsylvania Lowest-Fee RIAs for $10 Million Portfolios (as of June 2026)

“

Elm Wealth was founded in 2011 by Victor Haghani, a founding partner of the former hedge fund Long-Term Capital Management. Elm charges a flat 0.12% annual fee to all clients regardless of account size, which is among the lowest standalone investment-management fees of any RIA; the fee is inclusive of operating expenses and carries no incentive or other charges. Elm is a 'robo advisor', investing clients through a rules-based strategy, building separately managed accounts from ETFs and index funds across roughly fifteen asset classes and rebalancing toward a target allocation using value and momentum signals. Elm charges a $5,000 fee per engagement for an optional financial planning analysis. Elm also runs the Elm Market Navigator ETF (NYSE: ELM) and a private offshore fund, and has disclosed two SEC settlements, in 2018 and 2023.

”

“

myCIO Wealth Partners was founded in 2005 and is owned by its partners along with Affiliated Managers Group (NYSE: AMG), a publicly traded asset management company that holds a minority equity stake. The large majority of the firm's assets are managed on a non-discretionary basis. myCIO builds portfolios mainly from mutual funds, ETFs, sub-advisors, and independent managers, and on a limited basis individual securities, and also offers outsourced Chief Investment Officer services to families and institutions. The firm's principals sponsor several affiliated private funds that invest in outside hedge funds; myCIO earns administrative fees of roughly 0.25% to 0.50% on client assets placed in these funds, in addition to the fees of the underlying managers.

”

“

Sage Financial Group was formed in 1991 and is owned by principals Alan Cohn, Stephen Cohn, Mitchell Bednoff, and John Sion. The firm builds portfolios primarily from mutual funds, ETFs, and exchange traded notes, and may allocate a portion of client assets to unaffiliated independent managers, whose fees are charged separately and in addition to Sage's. The firm's principals also sponsor a series of affiliated Sage real estate and Opportunity Zone private funds and may recommend that qualified clients invest; because the principals can earn fund-level management and performance fees that exceed Sage's standard advisory fee, this presents a disclosed conflict of interest. Estate planning is offered through a partnership with an outside attorney as part of the firm's family office services.

”

“

Wharton Business Group was founded in 2009 and is owned by Alera Group, an insurance and wealth management firm. Wharton builds client portfolios from a mix of individual stocks and bonds, mutual funds, and ETFs, and also provides retirement plan consulting to employer-sponsored plans. Certain of the firm's representatives are licensed insurance agents and may earn commissions on insurance products they sell to clients, a disclosed conflict of interest. The firm's principals also serve as general partners of several private ventures, including whiskey investment partnerships, which clients may invest in only on a non-discretionary basis.

”

“

Aufman Associates has provided financial counseling and investment advisory services since the early 1970s, operating as an independent firm since 1983, and is owned by its senior members. Rather than picking individual securities, the firm builds diversified portfolios by selecting outside active and passive fund managers, favoring low-cost funds with no sales charges and long track records. Fees are charged on 'productive assets,' which exclude residences, personal property, bank accounts, insurance values, and business interests. For certain clients, the firm also provides bill-paying services.

”

“

Gibson Capital was founded in 1989 by Roger Gibson and is now owned by a group of next-generation principals, with no single person holding 25% or more of the firm following a succession plan begun in 2020. The firm is fee-only and uses a strategic asset allocation approach, implementing portfolios through low-cost mutual funds, ETFs, and outside separate account managers rather than picking individual stocks or bonds. Gibson's standard fee schedule is not negotiable. The firm maintains separate, lower fee schedules for charitable accounts and for qualified retirement plans.

”

“

Formed in 1982, Prudent Management Associates is an independent firm owned by Keystone Development Services (the Snitzer family), Marshall Blume Associates, and Kantwell Partners. The firm builds risk-controlled portfolios using low-cost, no-load mutual funds, and ETFs in limited cases; it does not invest directly in individual stocks or bonds, alternatives, or derivatives. PMA receives no 12b-1 fees, soft dollars, or compensation from fund families, and is paid only by clients. Beyond the advisory fee, clients bear Fidelity custody fees (up to 0.0375% annually) and the underlying fund expenses, which averaged about 0.21% at year-end 2025.

”

“

Hunter Associates has been in business since 1992 and is owned by Hunter Associates Holdings. The firm directly invests across stocks, bonds, funds, ETFs, and options, and also offers a Manager of Managers program that allocates to outside asset managers. Hunter Associates is dually registered as a broker-dealer (FINRA member) and operates an insurance agency, so certain representatives can earn separate commissions on brokerage and insurance transactions, a conflict the firm discloses. Its affiliate, Hunter Private Capital Advisors, manages private funds that the firm may recommend to clients. Clients who opened accounts before January 1, 2023 are generally grandfathered into lower fees.

”

“

McGowan & Co. is a Pennsylvania LLP that has been in business since 1997 and is owned by Brian McGowan, Jr. and Brendan McGowan. The firm directly selects securities, including stocks, bonds, ETFs, mutual funds, and options, and manages the large majority of its accounts on a non-discretionary basis, confirming proposed changes with clients before trading. The principals also own an affiliated CPA and accounting firm, McGowan and Co., LLC; compensation from that firm is not offset against advisory fees, a disclosed conflict. In limited cases, a member of the firm may serve as a client's trustee, executor, or power of attorney. Fees are billed quarterly in arrears.

”

“

A registered investment adviser since 2022, Petredis Investment Advisors is owned by members of the Petredis family along with Alexandra Cameron and Athena Mallios. The firm directly allocates client assets among individual equities and bonds, ETFs, mutual funds, and, where appropriate, alternative investments; it does not use third-party managers. Services are offered through a wrap fee program in which Petredis acts as both sponsor and portfolio manager, bundling portfolio management, transaction, and custody costs into a single fee. Accounts custody at TradePMR, which clears through First Clearing (Wells Fargo). Clients depositing assets may participate in a TradePMR 'asset match' program carrying a five-year earn-out and an early-removal fee, which the firm notes is a conflict of interest. Petredis also receives non-cash compensation, such as meals and entertainment, from product sponsors.

”