Each year, the RIA Benchmarking Study from Charles Schwab, the largest of its kind in the industry, collects in-depth data from more than 1,000 registered investment advisors (RIAs) on all aspects of their businesses. Now in its 12th year, the study offers insights into how RIAs of all sizes are performing—and the ways in which the fastest-growing firms are excelling. Such insights have helped many participating firms make beneficial changes to how they run their businesses.
In particular, this year's study tells a story of tremendous growth in the RIA space—both in the last year and over the past five years.
The findings also reinforce the Schwab Advisor Services™ Guiding Principles for Advisory Firm Success, a foundational framework that helps RIAs address the complexities of growing their firms and creating enduring enterprises. Based on years of working hand in hand with RIAs, the principles help advisors strategically approach key decisions and identify new ways of operating in order to stimulate growth. The five principles focus on essential elements that help create a clear path forward including strategic planning, client value, operational excellence, reputation and brand, and talent strategies.
Managing Director at Novare Capital Management
These findings demonstrate strong growth across the RIA industry, with firms of all sizes increasing assets under management, clients, and revenue; investing in operational excellence; strengthening their referral networks; and deepening their bench—all drivers of future success.