# Financial advisors in Puerto Rico

> AdvisorCensus lists 188 investment advisory firms with a principal office in Puerto Rico, drawn from Form ADV filings as of October 2026. Metro areas in the state are listed first; firms are listed alphabetically, and you can sort by years registered or assets band using the controls below. Firms may request removal from the directory, so this count can differ from the number of firms that file Form ADV.

Source: Form ADV filings as of October 2026. Rebuilt monthly. HTML page: https://advisorcensus.com/advisors/pr/page/3

## At a glance

- Investment advisory firms: 188
- Registration: SEC-registered investment adviser: 50, State-registered investment adviser: 34, Exempt reporting adviser: 104
- How firms are compensated (Form ADV Item 5.E; shares of the firms that file it): Fee-only (AdvisorCensus test) 18 (21%); Percentage of assets 77 (92%); Hourly charges 17 (20%); Subscription fees (newsletter or periodical) 2 (2%); Fixed fees 35 (42%); Commissions 3 (4%); Performance-based fees 29 (35%); Other 13 (15%); No compensation arrangements reported 104
- Regulatory assets under management (Item 5.F): Under $25 million 10 (5%); $25 million to $100 million 15 (8%); $100 million to $500 million 19 (10%); $500 million to $1 billion 9 (5%); $1 billion to $5 billion 16 (9%); Over $5 billion 1 (1%); Not reported 118 (63%)
- Years registered: Under 5 years 126 (67%); 5 to 9 years 35 (19%); 10 to 19 years 17 (9%); 20 years or more 5 (3%); Not reported 5 (3%)

## Firms (page 3 of 4, 101 to 150 of 188, sorted by name)

| Firm | CRD | City | Registration | Assets band | Years registered | Compensation |
| --- | --- | --- | --- | --- | --- | --- |
| [Lyon Bern, LLC](https://advisorcensus.com/firm/lyon-bern-llc-san-juan-pr-301277) ([md](https://advisorcensus.com/firm/lyon-bern-llc-san-juan-pr-301277.md)) | 301277 | San Juan, PR | State-registered investment adviser | $25 million to $100 million | 6 | % of assets, Hourly, Fixed fee |
| [M31 Capital Management, LLC](https://advisorcensus.com/firm/m31-capital-management-llc-san-juan-pr-321850) ([md](https://advisorcensus.com/firm/m31-capital-management-llc-san-juan-pr-321850.md)) | 321850 | San Juan, PR | Exempt reporting adviser | Not reported | 4 | Not reported |
| [Mainstreet Advisors, LLC](https://advisorcensus.com/firm/mainstreet-advisors-llc-san-juan-pr-310795) ([md](https://advisorcensus.com/firm/mainstreet-advisors-llc-san-juan-pr-310795.md)) | 310795 | San Juan, PR | State-registered investment adviser | Under $25 million | 5 | % of assets, Hourly, Subscription, Fixed fee, Commissions |
| [Manchester Management PR, LLC](https://advisorcensus.com/firm/manchester-management-pr-llc-san-juan-pr-286047) ([md](https://advisorcensus.com/firm/manchester-management-pr-llc-san-juan-pr-286047.md)) | 286047 | San Juan, PR | Exempt reporting adviser | Not reported | 9 | Not reported |
| [Marking, LLC](https://advisorcensus.com/firm/marking-llc-san-juan-pr-304737) ([md](https://advisorcensus.com/firm/marking-llc-san-juan-pr-304737.md)) | 304737 | San Juan, PR | Exempt reporting adviser | Not reported | Not reported | Not reported |
| [Mascap Management LLC](https://advisorcensus.com/firm/mascap-management-llc-san-juan-pr-326612) ([md](https://advisorcensus.com/firm/mascap-management-llc-san-juan-pr-326612.md)) | 326612 | San Juan, PR | Exempt reporting adviser | Not reported | 0 | Not reported |
| [McKenzie Investment Advisors LLC](https://advisorcensus.com/firm/mckenzie-investment-advisors-llc-guaynabo-pr-313635) ([md](https://advisorcensus.com/firm/mckenzie-investment-advisors-llc-guaynabo-pr-313635.md)) | 313635 | Guaynabo, PR | State-registered investment adviser | Not reported | 4 | % of assets, Fixed fee |
| [Merchant Banking Advisors, Inc.](https://advisorcensus.com/firm/merchant-banking-advisors-inc-299733) ([md](https://advisorcensus.com/firm/merchant-banking-advisors-inc-299733.md)) | 299733 | Not reported, Not reported | State-registered investment adviser | Not reported | 7 | Commissions |
| [Metro Capital MGMT LLC](https://advisorcensus.com/firm/metro-capital-mgmt-llc-san-juan-pr-339191) ([md](https://advisorcensus.com/firm/metro-capital-mgmt-llc-san-juan-pr-339191.md)) | 339191 | San Juan, PR | Exempt reporting adviser | Not reported | 0 | Not reported |
| [MGU Advisory, LLC](https://advisorcensus.com/firm/mgu-advisory-llc-san-juan-pr-306250) ([md](https://advisorcensus.com/firm/mgu-advisory-llc-san-juan-pr-306250.md)) | 306250 | San Juan, PR | Exempt reporting adviser | Not reported | Not reported | Not reported |
| [Mission Prime LLC](https://advisorcensus.com/firm/mission-prime-llc-guaynabo-pr-318328) ([md](https://advisorcensus.com/firm/mission-prime-llc-guaynabo-pr-318328.md)) | 318328 | Guaynabo, PR | SEC-registered investment adviser | $1 billion to $5 billion | 4 | % of assets, Fixed fee |
| [Mobility Partners LLC](https://advisorcensus.com/firm/mobility-partners-llc-san-juan-pr-330961) ([md](https://advisorcensus.com/firm/mobility-partners-llc-san-juan-pr-330961.md)) | 330961 | San Juan, PR | Exempt reporting adviser | Not reported | 0 | Not reported |
| [Moonsail Capital LLC](https://advisorcensus.com/firm/moonsail-capital-llc-san-juan-pr-291230) ([md](https://advisorcensus.com/firm/moonsail-capital-llc-san-juan-pr-291230.md)) | 291230 | San Juan, PR | Exempt reporting adviser | Not reported | 8 | Not reported |
| [Morro Venture Partners LLC](https://advisorcensus.com/firm/morro-venture-partners-llc-san-juan-pr-298911) ([md](https://advisorcensus.com/firm/morro-venture-partners-llc-san-juan-pr-298911.md)) | 298911 | San Juan, PR | Exempt reporting adviser | Not reported | 7 | Not reported |
| [Morro Ventures Caribbean](https://advisorcensus.com/firm/morro-ventures-caribbean-san-juan-pr-338367) ([md](https://advisorcensus.com/firm/morro-ventures-caribbean-san-juan-pr-338367.md)) | 338367 | San Juan, PR | Exempt reporting adviser | Not reported | 0 | Not reported |
| [Negron-Ramos LLC](https://advisorcensus.com/firm/negron-ramos-llc-san-juan-pr-332437) ([md](https://advisorcensus.com/firm/negron-ramos-llc-san-juan-pr-332437.md)) | 332437 | San Juan, PR | State-registered investment adviser | Not reported | 1 | % of assets, Hourly, Fixed fee |
| [Newbird Management LLC](https://advisorcensus.com/firm/newbird-management-llc-guaynabo-pr-340782) ([md](https://advisorcensus.com/firm/newbird-management-llc-guaynabo-pr-340782.md)) | 340782 | Guaynabo, PR | Exempt reporting adviser | Not reported | 0 | Not reported |
| [Nichols Group LLC](https://advisorcensus.com/firm/nichols-group-llc-134513) ([md](https://advisorcensus.com/firm/nichols-group-llc-134513.md)) | 134513 | Not reported, Not reported | State-registered investment adviser | $25 million to $100 million | 0 | % of assets |
| [Olive Hospitality Group LLC](https://advisorcensus.com/firm/olive-hospitality-group-llc-san-juan-pr-334597) ([md](https://advisorcensus.com/firm/olive-hospitality-group-llc-san-juan-pr-334597.md)) | 334597 | San Juan, PR | Exempt reporting adviser | Not reported | 1 | Not reported |
| [Oriental Financial Services LLC](https://advisorcensus.com/firm/oriental-financial-services-llc-san-juan-pr-29753) ([md](https://advisorcensus.com/firm/oriental-financial-services-llc-san-juan-pr-29753.md)) | 29753 | San Juan, PR | SEC-registered investment adviser | $100 million to $500 million | 11 | % of assets |
| [Oriental Trust](https://advisorcensus.com/firm/oriental-trust-san-juan-pr-312982) ([md](https://advisorcensus.com/firm/oriental-trust-san-juan-pr-312982.md)) | 312982 | San Juan, PR | SEC-registered investment adviser | $100 million to $500 million | 5 | % of assets |
| [Owlcrest Partners LLC](https://advisorcensus.com/firm/owlcrest-partners-llc-san-juan-pr-304978) ([md](https://advisorcensus.com/firm/owlcrest-partners-llc-san-juan-pr-304978.md)) | 304978 | San Juan, PR | State-registered investment adviser | Under $25 million | 6 | % of assets |
| [Palm Drive Ventures, LLC](https://advisorcensus.com/firm/palm-drive-ventures-llc-san-juan-pr-289989) ([md](https://advisorcensus.com/firm/palm-drive-ventures-llc-san-juan-pr-289989.md)) | 289989 | San Juan, PR | Exempt reporting adviser | Not reported | 0 | Not reported |
| [Pariter Wealth Management Group LLC](https://advisorcensus.com/firm/pariter-wealth-management-group-llc-guaynabo-pr-146622) ([md](https://advisorcensus.com/firm/pariter-wealth-management-group-llc-guaynabo-pr-146622.md)) | 146622 | Guaynabo, PR | State-registered investment adviser | Under $25 million | 7 | % of assets, Hourly |
| [Parliament Capital Management, LLC](https://advisorcensus.com/firm/parliament-capital-management-llc-san-juan-pr-194513) ([md](https://advisorcensus.com/firm/parliament-capital-management-llc-san-juan-pr-194513.md)) | 194513 | San Juan, PR | SEC-registered investment adviser | $1 billion to $5 billion | 5 | % of assets, Fixed fee, Performance fee |
| [Patagonia Research](https://advisorcensus.com/firm/patagonia-research-san-juan-pr-335981) ([md](https://advisorcensus.com/firm/patagonia-research-san-juan-pr-335981.md)) | 335981 | San Juan, PR | Exempt reporting adviser | Not reported | 1 | Not reported |
| [PCO Capital LLC](https://advisorcensus.com/firm/pco-capital-llc-san-juan-pr-328072) ([md](https://advisorcensus.com/firm/pco-capital-llc-san-juan-pr-328072.md)) | 328072 | San Juan, PR | Exempt reporting adviser | Not reported | 3 | Not reported |
| [Pension Partners, LLC](https://advisorcensus.com/firm/pension-partners-llc-san-juan-pr-125772) ([md](https://advisorcensus.com/firm/pension-partners-llc-san-juan-pr-125772.md)) | 125772 | San Juan, PR | State-registered investment adviser | Under $25 million | 5 | % of assets, Performance fee |
| [Phalanx Advisors LLC](https://advisorcensus.com/firm/phalanx-advisors-llc-san-juan-pr-317855) ([md](https://advisorcensus.com/firm/phalanx-advisors-llc-san-juan-pr-317855.md)) | 317855 | San Juan, PR | Exempt reporting adviser | Not reported | 4 | Not reported |
| [Phorcys Investment Advisors, LLC](https://advisorcensus.com/firm/phorcys-investment-advisors-llc-guaynabo-pr-306551) ([md](https://advisorcensus.com/firm/phorcys-investment-advisors-llc-guaynabo-pr-306551.md)) | 306551 | Guaynabo, PR | Exempt reporting adviser | Not reported | Not reported | Not reported |
| [Pinnacle Equity Partners GP LLC](https://advisorcensus.com/firm/pinnacle-equity-partners-gp-llc-guaynabo-pr-330485) ([md](https://advisorcensus.com/firm/pinnacle-equity-partners-gp-llc-guaynabo-pr-330485.md)) | 330485 | Guaynabo, PR | Exempt reporting adviser | Not reported | 1 | Not reported |
| [Pleasant Lake Partners LLC](https://advisorcensus.com/firm/pleasant-lake-partners-llc-rincon-pr-304281) ([md](https://advisorcensus.com/firm/pleasant-lake-partners-llc-rincon-pr-304281.md)) | 304281 | Rincon, PR | SEC-registered investment adviser | $1 billion to $5 billion | 3 | % of assets, Performance fee |
| [Poppy Capital](https://advisorcensus.com/firm/poppy-capital-san-juan-pr-337408) ([md](https://advisorcensus.com/firm/poppy-capital-san-juan-pr-337408.md)) | 337408 | San Juan, PR | State-registered investment adviser | Under $25 million | 0 | % of assets |
| [Popular Asset Management](https://advisorcensus.com/firm/popular-asset-management-san-juan-pr-313653) ([md](https://advisorcensus.com/firm/popular-asset-management-san-juan-pr-313653.md)) | 313653 | San Juan, PR | SEC-registered investment adviser | $1 billion to $5 billion | 5 | % of assets, Fixed fee |
| [Popular Securities, LLC](https://advisorcensus.com/firm/popular-securities-llc-hato-rey-pr-8096) ([md](https://advisorcensus.com/firm/popular-securities-llc-hato-rey-pr-8096.md)) | 8096 | Hato Rey, PR | SEC-registered investment adviser | $1 billion to $5 billion | 26 | % of assets, Other |
| [PR Five Wealth Management LLC](https://advisorcensus.com/firm/pr-five-wealth-management-llc-san-juan-pr-326835) ([md](https://advisorcensus.com/firm/pr-five-wealth-management-llc-san-juan-pr-326835.md)) | 326835 | San Juan, PR | Exempt reporting adviser | Not reported | 0 | Not reported |
| [Praetorian PR LLC](https://advisorcensus.com/firm/praetorian-pr-llc-rincon-pr-323280) ([md](https://advisorcensus.com/firm/praetorian-pr-llc-rincon-pr-323280.md)) | 323280 | Rincon, PR | SEC-registered investment adviser | $100 million to $500 million | 3 | % of assets |
| [Preferred Capital Fund Management LLC](https://advisorcensus.com/firm/preferred-capital-fund-management-llc-san-juan-pr-341073) ([md](https://advisorcensus.com/firm/preferred-capital-fund-management-llc-san-juan-pr-341073.md)) | 341073 | San Juan, PR | Exempt reporting adviser | Not reported | 0 | Not reported |
| [Protocap Management LLC](https://advisorcensus.com/firm/protocap-management-llc-san-juan-pr-322416) ([md](https://advisorcensus.com/firm/protocap-management-llc-san-juan-pr-322416.md)) | 322416 | San Juan, PR | Exempt reporting adviser | Not reported | 0 | Not reported |
| [RAD Capital GP LLC](https://advisorcensus.com/firm/rad-capital-gp-llc-san-juan-pr-342598) ([md](https://advisorcensus.com/firm/rad-capital-gp-llc-san-juan-pr-342598.md)) | 342598 | San Juan, PR | Exempt reporting adviser | Not reported | 0 | Not reported |
| [Rational Advisors, Inc.](https://advisorcensus.com/firm/rational-advisors-inc-san-juan-pr-111452) ([md](https://advisorcensus.com/firm/rational-advisors-inc-san-juan-pr-111452.md)) | 111452 | San Juan, PR | SEC-registered investment adviser | $1 billion to $5 billion | 25 | % of assets, Performance fee |
| [RE Investment Advisors, LLC](https://advisorcensus.com/firm/re-investment-advisors-llc-san-juan-pr-315087) ([md](https://advisorcensus.com/firm/re-investment-advisors-llc-san-juan-pr-315087.md)) | 315087 | San Juan, PR | Exempt reporting adviser | Not reported | 1 | Not reported |
| [Rebel Management, LLC](https://advisorcensus.com/firm/rebel-management-llc-san-juan-pr-334378) ([md](https://advisorcensus.com/firm/rebel-management-llc-san-juan-pr-334378.md)) | 334378 | San Juan, PR | Exempt reporting adviser | Not reported | 1 | Not reported |
| [Relative Sentiment Technologies, LLC](https://advisorcensus.com/firm/relative-sentiment-technologies-llc-humacao-pr-318050) ([md](https://advisorcensus.com/firm/relative-sentiment-technologies-llc-humacao-pr-318050.md)) | 318050 | Humacao, PR | SEC-registered investment adviser | $100 million to $500 million | 4 | % of assets, Fixed fee, Other |
| [Rioblanco Capital LLC](https://advisorcensus.com/firm/rioblanco-capital-llc-san-juan-pr-325702) ([md](https://advisorcensus.com/firm/rioblanco-capital-llc-san-juan-pr-325702.md)) | 325702 | San Juan, PR | SEC-registered investment adviser | $100 million to $500 million | 1 | % of assets, Performance fee, Other |
| [Robostrategy Advisors](https://advisorcensus.com/firm/robostrategy-advisors-san-juan-pr-337701) ([md](https://advisorcensus.com/firm/robostrategy-advisors-san-juan-pr-337701.md)) | 337701 | San Juan, PR | SEC-registered investment adviser | $100 million to $500 million | 1 | % of assets |
| [Rocana-Semillero Advisors PR LLC](https://advisorcensus.com/firm/rocana-semillero-advisors-pr-llc-san-juan-pr-331188) ([md](https://advisorcensus.com/firm/rocana-semillero-advisors-pr-llc-san-juan-pr-331188.md)) | 331188 | San Juan, PR | Exempt reporting adviser | Not reported | 2 | Not reported |
| [RR Fund Management LLC](https://advisorcensus.com/firm/rr-fund-management-llc-caguas-pr-334344) ([md](https://advisorcensus.com/firm/rr-fund-management-llc-caguas-pr-334344.md)) | 334344 | Caguas, PR | Exempt reporting adviser | Not reported | 0 | Not reported |
| [Sabanera Private Equity Manager LLC](https://advisorcensus.com/firm/sabanera-private-equity-manager-llc-dorado-pr-332175) ([md](https://advisorcensus.com/firm/sabanera-private-equity-manager-llc-dorado-pr-332175.md)) | 332175 | Dorado, PR | Exempt reporting adviser | Not reported | 2 | Not reported |
| [Salamanca Capital LLC](https://advisorcensus.com/firm/salamanca-capital-llc-san-juan-pr-339875) ([md](https://advisorcensus.com/firm/salamanca-capital-llc-san-juan-pr-339875.md)) | 339875 | San Juan, PR | Exempt reporting adviser | Not reported | 0 | Not reported |

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## Questions people ask

**How many financial advisory firms are there in Puerto Rico?**
AdvisorCensus lists 188 investment advisory firms with a principal office in Puerto Rico, from Form ADV filings as of October 2026: 50 SEC-registered, 34 state-registered, and 104 exempt reporting advisers. Firms may request removal, so the count can differ slightly from the number of firms that file Form ADV.

**How many fee-only financial advisors are in Puerto Rico?**
18 of the 188 firms meet AdvisorCensus's fee-only test: paid only by a percentage of assets, hourly charges, fixed fees, or subscription fees on Form ADV Item 5.E (no commissions, performance-based fees, or other compensation), with no sales-related compensation ties in the same filing: no employee registered with a broker-dealer or licensed as an insurance agent (Item 5.B), no brokerage, insurance, real estate, or other product sales business (Item 6.A), no related broker-dealer, insurance company, real estate broker, or futures commission merchant (Item 7.A), and no referral fees from others or other sales interest (Item 8). Form ADV has no fee-only box, so this is derived from the filing; it is not a fee-only certification, and a firm's own page lists its compensation arrangements as filed.

**How many financial advisors in Puerto Rico offer financial planning?**
26 of the 84 firms in Puerto Rico that answer Form ADV Item 5.G, which asks what advisory services a firm provides, report financial planning services, as of October 2026. Exempt reporting advisers do not answer Item 5.G. Each firm page lists every advisory service the firm reports.

**Are the financial advisors in Puerto Rico fiduciaries?**
Every firm on this page is an investment adviser that files Form ADV, and an investment adviser owes its clients a fiduciary duty under federal law, made up of a duty of care and a duty of loyalty: it must act in the client's best interest and not put its own interests ahead of the client's, and must eliminate its conflicts of interest or disclose them fully and fairly. Form ADV has no fiduciary box because the duty comes with being an investment adviser. The duty covers the firm's advice; a firm or its people may also sell securities through a broker-dealer or insurance as licensed agents, roles held to other standards. The 18 firms that meet AdvisorCensus's fee-only test report none of those sales ties.

**How do I check whether a financial advisor has disciplinary disclosures?**
Each firm page shows how many Form ADV Item 11 disciplinary questions the firm answered yes and links to the firm's record on the SEC's Investment Adviser Public Disclosure site (adviserinfo.sec.gov), where the detail of each disclosure is public. Individual advisers' records are on the same site and on FINRA BrokerCheck.

**Does AdvisorCensus rate, verify, or recommend these firms?**
No. The directory shows what each firm filed, in alphabetical order unless you choose another sort, and no firm's position depends on payment. Firms that claim their page can add a description and links, marked as provided by the firm; the filed facts are never changed by that content.

**What does regulatory assets under management mean?**
Regulatory assets under management (RAUM) is the figure a firm reports on Form ADV Item 5.F: the securities portfolios it provides continuous and regular supervisory or management services for, at market value, including assets managed without discretion. It measures scale, not performance or quality.

## Related pages

- [Financial advisors in Puerto Rico](https://advisorcensus.com/advisors/pr) (https://advisorcensus.com/advisors/pr.md)
- [Fee-only financial advisors in Puerto Rico](https://advisorcensus.com/advisors/pr/fee-only) (https://advisorcensus.com/advisors/pr/fee-only.md)
- [Flat-fee financial advisors in Puerto Rico](https://advisorcensus.com/advisors/pr/flat-fee) (https://advisorcensus.com/advisors/pr/flat-fee.md)
- [Hourly financial advisors in Puerto Rico](https://advisorcensus.com/advisors/pr/hourly) (https://advisorcensus.com/advisors/pr/hourly.md)

Every firm in this list as CSV: https://advisorcensus.com/advisors/pr.csv

Cite as: AdvisorCensus. Financial advisors in Puerto Rico: 188 firms from Form ADV filings as of October 2026.