Dunham's 40-Year Formula Lands on USA Today's Elite Advisor List

SAN DIEGO, CA – April 22, 2026 – San Diego-based financial services firm Dunham has secured a coveted spot on USA Today's 2026 list of Best Financial Advisory Firms, a national ranking that recognizes excellence based on robust growth and peer acclaim. The inclusion places the 40-year-old firm among the top registered investment advisory (RIA) firms in the United States, validating a long-held strategy focused on empowering independent financial advisors.

The recognition, produced in partnership with market research firm Statista, is the result of a rigorous, data-driven evaluation. It highlights firms that not only demonstrate impressive growth in assets under management (AUM) but also command the respect of their clients and colleagues across the industry. For Dunham, a firm built on a unique advisor-centric model, the award serves as a significant milestone.

A Ranking Built on Performance and Peer Respect

In an industry filled with awards and accolades, the USA Today and Statista ranking distinguishes itself through a demanding and transparent methodology. A firm's final score is overwhelmingly determined by its financial performance, with the development of Assets Under Management (AUM) accounting for 80% of the total weight. This metric analyzes both recent momentum, measured from January 2025 to January 2026, and sustained mid-term growth from 2023 to 2026, using publicly available SEC data.

The remaining 20% of the score is derived from a far more subjective, yet equally critical, measure: reputation. Statista conducted an independent survey of more than 30,000 individuals, including financial advisors, their clients, and other industry experts. These participants were invited to recommend firms they deemed commendable, with a strict prohibition against self-recommendations. This dual-pronged approach ensures that recognized firms possess not only a strong balance sheet but also a foundation of trust and respect within the financial community. Dunham's inclusion alongside other top-tier firms like Apollon Wealth Management and Mission Wealth underscores its success in mastering both of these critical areas.

Four Decades of Putting Advisors First

Long before the term "TAMP" (Turnkey Asset Management Platform) became an industry buzzword, Dunham was pioneering a model designed to level the playing field for independent financial advisors. Founded 40 years ago, the firm has remained steadfast in its mission to provide RIAs with the institutional-grade tools, investment access, and support typically reserved for larger wirehouses.

"Forty years ago, we built this firm around one idea - that independent advisors deserve access to institutional investment management, and that putting those advisors first would always be the foundation," said Jeffrey Dunham, the company's Founder and Chief Executive Officer. "Being recognized by our peers and clients on a list of the nation's best advisory firms reflects what this team has built over four decades. It means more than any metric."

This philosophy is the bedrock of Dunham's platform, which offers a comprehensive suite of services including institutional sub-adviser selection, trust services through its Nevada- and Wyoming-based affiliates, and a lineup of proprietary mutual funds. By handling the complex back-office operations and investment management, Dunham allows independent advisors to dedicate more time to their most important function: serving their clients. This model has clearly resonated, fueling the consistent AUM growth and deep advisor loyalty that were instrumental in its recent national recognition.

The Fulcrum Fee Advantage

At the heart of Dunham's unique value proposition is its "performance-aligned fulcrum fee structure," a model Jeffrey Dunham conceptualized in the 1980s. Unlike the standard industry practice of charging a flat fee based on a percentage of assets under management, the fulcrum fee directly links a sub-adviser's compensation to their performance against a specific market benchmark.

The structure is elegantly simple in its premise: if a fund manager outperforms their benchmark, their fee increases. If they underperform, their fee decreases. A "null zone" exists around the benchmark where a base fee is charged, but significant outperformance or underperformance triggers the adjustment. Dunham is notable for applying this model exclusively across its sub-advised public mutual funds, with performance adjustments calculated daily over a 12-month period to encourage consistent, long-term results rather than short-term risk-taking.

This approach creates a powerful alignment of interests between the end-client, the financial advisor, and the investment manager. It answers a question that has long plagued investors: "Why should I pay the same fee for poor performance as I do for good performance?" By making managers share in both the upside and the downside, the model fosters accountability and builds a deeper level of trust—a factor that no doubt contributed to the strong peer recommendations in the USA Today survey.

Navigating a Competitive Landscape with Eyes on the Future

Dunham's success does not exist in a vacuum. It operates within the highly competitive and rapidly growing TAMP ecosystem, a market that now represents nearly $3 trillion in assets. The firm competes against industry giants like Envestnet and AssetMark, as well as fast-growing platforms like GeoWealth, which recently reported a 53% surge in platform assets.

In this crowded field, Dunham's four-decade track record and differentiated fee structure have proven to be formidable assets. The firm, which managed $4.7 billion as of early 2025, has demonstrated its ability to not only compete but to thrive by carving out a distinct identity as the advisor's staunchest ally. The national ranking serves as external validation of this strategy, but the firm's leadership indicates they are not resting on their laurels.

"This recognition belongs to the advisors who trust us with their clients' assets," stated Ryan Dykmans, CFA, President and Chief Investment Officer. "We are not standing still. Our platform is expanding, and that momentum is a direct result of the confidence advisors have placed in us."

This forward-looking momentum is already taking shape. In July 2025, the company expanded its physical footprint by opening a new office in Raleigh, North Carolina, strategically tapping into the high-growth "research triangle" area. This geographic expansion, coupled with ongoing enhancements to its TAMP platform and trust services, signals that Dunham is leveraging its recent accolades to fuel its next chapter of growth, continuing its 40-year mission to support the independent advisor.