How advisors drive results:
Listen to Lisa Salvi sum up key findings from the
2022 RIA Benchmarking Study. Explore the insights
and discover new opportunities for your firm.
How advisors drive results: Latest insights
Explore the top five insights from the 2022 study with 1,218 independent advisory participants. We'll highlight how our Guiding Principles for Advisory Firm Success, along with other resources, make it easy to take action.
Firms experienced tremendous growth.
RIA 5-year growth metrics¹
Clarity—on clients you serve best—can help win business.
Firms with a documented ideal client persona, client value proposition, and marketing plan
Organic growth from new and existing clients
Firms under $250M
Firms over $250M
More use of digital tools meant less time on operations.
Digital adoption across firms
Digital processes and workflows
Digital client onboarding
Productivity metrics across firms
Firms that formalized referral plans gained more clients.
Drivers of new client asset growth in 2021
Firms with documented referral plans
Employee Value Proposition—a key talent differentiator.
Firms with documented EVPs
Most popular elements included in firm EVPs
From the Archives
Take a look back at prior years' data.
Participate in 2023
Participate in 2023
Understanding the best practices of other successful firms can help you more confidently make strategic decisions that delight clients and drive your firm forward. Gain those insights and many more by participating in the RIA Benchmarking Study—the largest study of its kind focusing on independent RIAs. Our 2022 study compiled data from 1,218 advisory firms representing more than $1.8 trillion in assets under management. Participating RIAs can compare their firms’ performance on hundreds of key metrics with those of their peer group to track progress against strategic goals and identify opportunities for growth.
Contact Schwab Advisor Services or visit our Resources to learn more about taking part in the 2023 RIA Benchmarking Study.
1. Median results and compound annual growth rates (CAGR) over the 5-year period from year-end 2016 through 2021 by peer group (based on AUM). Results do not include those firms that experienced a merger or added a new partner during this period.
2. Median firm with $250 million or more in AUM.
3. Firms that have implemented more digital processes and workflows than the median firm with $250 million or more in AUM.
About the 2022 RIA Benchmarking Study
Schwab designed this study to capture insights in the registered investment advisor (RIA) industry based on survey responses from individual firms. The 2022 study provides information on topics such as asset and revenue growth, sources of new clients, products and pricing, staffing, compensation, marketing, technology, and financial performance. Since the inception of the study in 2006, more than 4,300 firms have participated, with many repeat participants. Fielded from January to March 2022, the study contains self-reported data from 1,218 firms that custody their assets with Schwab or TD Ameritrade and represents $1.8 trillion in assets under management, making this the leading study in the RIA industry. Schwab did not independently verify or validate the self-reported information. Participant firms represent various sizes and business models. They are categorized into seven peer groups by AUM size.
The study is part of Schwab Business Consulting and Education, a practice management offering for RIAs. Grounded in the best practices of leading independent advisory firms, Business Consulting and Education provides insight, guidance, tools, and resources to help RIAs strategically manage and grow their firm.
Past performance is not an indicator of future results.
Top Performing Firms are those that rank in the top 20% of the Firm Performance Index. The index evaluates all firms in the study according to 15 metrics to arrive at a holistic assessment of each firm's performance across key business areas.
Charles Schwab & Co., Inc. ("Schwab") is a separate but affiliated company and subsidiary of The Charles Schwab Corporation ("Charles Schwab").
TD Ameritrade Institutional, Division of TD Ameritrade, Inc., member FINRA/SIPC, a subsidiary of The Charles Schwab Corporation. TD Ameritrade is a trademark jointly owned by TD Ameritrade IP Company, Inc. and The Toronto-Dominion Bank.
Third-party firms and their employees are not affiliated with or employees of Schwab unless otherwise noted. This should not be construed as a recommendation, endorsement of, or sponsorship by Schwab. The views expressed are those of the third party and are provided for information purposes only. Experiences reflected are not a guarantee of future performance or success and may not be representative of your experience.
Data represent median results by peer group (based on AUM) unless otherwise noted.