GITNUXREPORT 2025

Diversity, Equity, And Inclusion In The Ria Industry Statistics

Diversity boosts performance, client engagement, innovation, and industry competitiveness.

Jannik Linder

Co-Founder of Gitnux, specialized in content and tech since 2016.

First published: April 29, 2025

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Statistic 1

Women represent approximately 32% of employees in RIA firms as of 2023

Statistic 2

66% of younger financial advisors (under 40) are women, compared to 25% among advisors over 50

Statistic 3

Only 8% of RIA firms have a majority of employees from underrepresented racial or ethnic groups

Statistic 4

RIA firms employing more than 50% women are 1.5 times more likely to have higher client satisfaction scores

Statistic 5

Approximately 25% of RIA firm owners are women, indicating gradual progress towards gender diversity

Statistic 6

60% of underrepresented minority advisors report facing barriers to entry in the RIA industry

Statistic 7

78% of RIA firms recognize that diversity and inclusion contribute positively to their firm’s performance

Statistic 8

45% of RIA firms have implemented formal diversity and inclusion policies

Statistic 9

53% of clients indicate a preference for financial advisors who demonstrate a commitment to diversity, equity, and inclusion

Statistic 10

Among RIA firms, 23% have a dedicated DEI officer or committee

Statistic 11

60% of millennial financial advisors prioritize diversity and inclusion in their workplace environment

Statistic 12

40% of RIA firms actively recruit from diverse talent pools

Statistic 13

29% of RIA firms have implemented unconscious bias training for staff

Statistic 14

85% of RIA firms agree that diversity and DEI initiatives improve team collaboration

Statistic 15

RIA firms with a diverse client base are 1.9 times more likely to engage in community outreach programs

Statistic 16

Firms actively working on diversity initiatives saw a 15% increase in employee retention rates over two years

Statistic 17

52% of RIA firms reported that they plan to increase their diversity hiring efforts over the next year

Statistic 18

48% of clients prefer to work with financial advisors with visible diversity characteristics, indicating consumer influence on firm DEI initiatives

Statistic 19

RIA firms with inclusive cultures experience 25% higher employee engagement scores

Statistic 20

32% of RIA firms have developed affinity groups or Employee Resource Groups (ERGs) focused on diversity

Statistic 21

RIA firms that provide DEI training see a 20% improvement in employee cultural competence

Statistic 22

65% of millennial clients cite diversity as a factor in selecting a financial advisor

Statistic 23

55% of RIA firms report that representation matters significantly for attracting diverse talent

Statistic 24

Only 16% of RIA firms report having comprehensive DEI metrics to measure progress

Statistic 25

47% of advisors from minority backgrounds have experienced biases in client interactions

Statistic 26

RIA firms that actively promote inclusivity report a 35% higher likelihood of attracting underrepresented clients

Statistic 27

78% of firms believe that DEI initiatives will be critical for future industry competitiveness

Statistic 28

60% of HR professionals in financial services agree that diversity improves decision-making quality

Statistic 29

83% of younger advisors (under 30) view DEI efforts as essential for career development

Statistic 30

22% of RIA firms offer dedicated DEI training modules to their staff

Statistic 31

50% of clients are more likely to refer an advisor known for DEI commitment

Statistic 32

44% of RIA firms incorporate DEI principles into their client onboarding processes

Statistic 33

29% of minority financial advisors have left firms citing lack of inclusivity as a reason

Statistic 34

68% of RIA firms that have diversity initiatives report improved employee morale

Statistic 35

34% of financial industry clients from minority groups prefer firms with visible diversity initiatives

Statistic 36

RIA firms with inclusive hiring practices experience 25% faster onboarding times

Statistic 37

72% of respondents in the industry believe that DEI efforts should be embedded into all organizational processes

Statistic 38

85% of minority advisors feel they have a greater opportunity to succeed in firms with active DEI programs

Statistic 39

54% of firms report a positive impact on client satisfaction from their diversity and inclusion efforts

Statistic 40

42% of firms globally are considering or implementing flexible work arrangements to promote DEI

Statistic 41

76% of firm leaders believe that increasing diversity will lead to better risk management

Statistic 42

33% of firms have established partnerships with minority-serving financial education organizations

Statistic 43

49% of advisors indicate that DEI initiatives have made their workplace more attractive to new talent

Statistic 44

28% of RIA firms see DEI as an opportunity to expand into underserved markets

Statistic 45

58% of younger advisors (under 35) believe that DEI should be a top priority for industry growth

Statistic 46

81% of industry leaders agree that continuous DEI training is necessary to sustain progress

Statistic 47

55% of firms have included DEI goals in their annual corporate performance reviews

Statistic 48

67% of minority clients are more likely to stay loyal to firms that demonstrate a genuine commitment to DEI

Statistic 49

Increasing diversity in RIA firms correlates with a 10% increase in innovative product offerings

Statistic 50

69% of firms recognize that inclusive leadership training improves overall organizational culture

Statistic 51

80% of industry surveys indicate that clients value advisors who champion social justice and equality

Statistic 52

42% of RIA firms have diversity benchmarks tied to their corporate social responsibility initiatives

Statistic 53

63% of industry professionals believe that DEI directly impacts financial performance

Statistic 54

29% of RIA firms actively participate in diversity-focused industry conferences or forums

Statistic 55

64% of firms report that DEI initiatives have helped attract millennial and Gen Z clients

Statistic 56

87% of industry respondents agree that DEI efforts should be integrated into organizational strategy

Statistic 57

55% of firms have increased their budget allocation for DEI initiatives over the past year

Statistic 58

RIA firms with diverse leadership are 1.8 times more likely to outperform less diverse firms

Statistic 59

RIA firms led by diverse executives are 2.3 times more likely to innovate in their products and services

Statistic 60

Only 12% of senior leadership roles in RIA firms are held by individuals from minority backgrounds

Statistic 61

RIA firms with diverse leadership are 3.2 times more likely to offer culturally competent financial advice

Statistic 62

Firms with diverse boards have 21% higher profit margins compared to those with less diverse boards

Statistic 63

70% of new hires in RIA firms from diverse backgrounds receive mentorship within their first year

Statistic 64

75% of minority advisors report that mentorship programs significantly improve their career advancement prospects

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Sources

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Key Highlights

78% of RIA firms recognize that diversity and inclusion contribute positively to their firm’s performance
Women represent approximately 32% of employees in RIA firms as of 2023
45% of RIA firms have implemented formal diversity and inclusion policies
RIA firms with diverse leadership are 1.8 times more likely to outperform less diverse firms
66% of younger financial advisors (under 40) are women, compared to 25% among advisors over 50
Only 8% of RIA firms have a majority of employees from underrepresented racial or ethnic groups
53% of clients indicate a preference for financial advisors who demonstrate a commitment to diversity, equity, and inclusion
Among RIA firms, 23% have a dedicated DEI officer or committee
60% of millennial financial advisors prioritize diversity and inclusion in their workplace environment
RIA firms employing more than 50% women are 1.5 times more likely to have higher client satisfaction scores
40% of RIA firms actively recruit from diverse talent pools
RIA firms led by diverse executives are 2.3 times more likely to innovate in their products and services
29% of RIA firms have implemented unconscious bias training for staff

Diversity, Equity, and Inclusion are transforming the RIA industry, with 78% of firms recognizing their positive impact on performance and a growing commitment to fostering diverse leadership, talent, and client engagement.

Demographic Representation and Workforce Composition

Women represent approximately 32% of employees in RIA firms as of 2023
66% of younger financial advisors (under 40) are women, compared to 25% among advisors over 50
Only 8% of RIA firms have a majority of employees from underrepresented racial or ethnic groups
RIA firms employing more than 50% women are 1.5 times more likely to have higher client satisfaction scores
Approximately 25% of RIA firm owners are women, indicating gradual progress towards gender diversity
60% of underrepresented minority advisors report facing barriers to entry in the RIA industry

Demographic Representation and Workforce Composition Interpretation

While women and minorities are making strides in the RIA industry—fewer barriers for the young women under 40 and increasing female ownership—significant gaps remain, especially in racial and ethnic diversity, reminding us that progress often walks a tightrope between opportunity and unequal access.

Diversity and Inclusion Initiatives

78% of RIA firms recognize that diversity and inclusion contribute positively to their firm’s performance
45% of RIA firms have implemented formal diversity and inclusion policies
53% of clients indicate a preference for financial advisors who demonstrate a commitment to diversity, equity, and inclusion
Among RIA firms, 23% have a dedicated DEI officer or committee
60% of millennial financial advisors prioritize diversity and inclusion in their workplace environment
40% of RIA firms actively recruit from diverse talent pools
29% of RIA firms have implemented unconscious bias training for staff
85% of RIA firms agree that diversity and DEI initiatives improve team collaboration
RIA firms with a diverse client base are 1.9 times more likely to engage in community outreach programs
Firms actively working on diversity initiatives saw a 15% increase in employee retention rates over two years
52% of RIA firms reported that they plan to increase their diversity hiring efforts over the next year
48% of clients prefer to work with financial advisors with visible diversity characteristics, indicating consumer influence on firm DEI initiatives
RIA firms with inclusive cultures experience 25% higher employee engagement scores
32% of RIA firms have developed affinity groups or Employee Resource Groups (ERGs) focused on diversity
RIA firms that provide DEI training see a 20% improvement in employee cultural competence
65% of millennial clients cite diversity as a factor in selecting a financial advisor
55% of RIA firms report that representation matters significantly for attracting diverse talent
Only 16% of RIA firms report having comprehensive DEI metrics to measure progress
47% of advisors from minority backgrounds have experienced biases in client interactions
RIA firms that actively promote inclusivity report a 35% higher likelihood of attracting underrepresented clients
78% of firms believe that DEI initiatives will be critical for future industry competitiveness
60% of HR professionals in financial services agree that diversity improves decision-making quality
83% of younger advisors (under 30) view DEI efforts as essential for career development
22% of RIA firms offer dedicated DEI training modules to their staff
50% of clients are more likely to refer an advisor known for DEI commitment
44% of RIA firms incorporate DEI principles into their client onboarding processes
29% of minority financial advisors have left firms citing lack of inclusivity as a reason
68% of RIA firms that have diversity initiatives report improved employee morale
34% of financial industry clients from minority groups prefer firms with visible diversity initiatives
RIA firms with inclusive hiring practices experience 25% faster onboarding times
72% of respondents in the industry believe that DEI efforts should be embedded into all organizational processes
85% of minority advisors feel they have a greater opportunity to succeed in firms with active DEI programs
54% of firms report a positive impact on client satisfaction from their diversity and inclusion efforts
42% of firms globally are considering or implementing flexible work arrangements to promote DEI
76% of firm leaders believe that increasing diversity will lead to better risk management
33% of firms have established partnerships with minority-serving financial education organizations
49% of advisors indicate that DEI initiatives have made their workplace more attractive to new talent
28% of RIA firms see DEI as an opportunity to expand into underserved markets
58% of younger advisors (under 35) believe that DEI should be a top priority for industry growth
81% of industry leaders agree that continuous DEI training is necessary to sustain progress
55% of firms have included DEI goals in their annual corporate performance reviews
67% of minority clients are more likely to stay loyal to firms that demonstrate a genuine commitment to DEI
Increasing diversity in RIA firms correlates with a 10% increase in innovative product offerings
69% of firms recognize that inclusive leadership training improves overall organizational culture
80% of industry surveys indicate that clients value advisors who champion social justice and equality
42% of RIA firms have diversity benchmarks tied to their corporate social responsibility initiatives
63% of industry professionals believe that DEI directly impacts financial performance
29% of RIA firms actively participate in diversity-focused industry conferences or forums
64% of firms report that DEI initiatives have helped attract millennial and Gen Z clients
87% of industry respondents agree that DEI efforts should be integrated into organizational strategy
55% of firms have increased their budget allocation for DEI initiatives over the past year

Diversity and Inclusion Initiatives Interpretation

Amidst compelling statistics revealing that while 78% of RIA firms acknowledge the positive impact of diversity and inclusion on performance, only 16% have comprehensive metrics to measure progress—highlighting that the industry’s recognition outweighs action, yet both are essential for truly harnessing the power of diversity in shaping its future.

Leadership Diversity and Impact

RIA firms with diverse leadership are 1.8 times more likely to outperform less diverse firms
RIA firms led by diverse executives are 2.3 times more likely to innovate in their products and services
Only 12% of senior leadership roles in RIA firms are held by individuals from minority backgrounds
RIA firms with diverse leadership are 3.2 times more likely to offer culturally competent financial advice
Firms with diverse boards have 21% higher profit margins compared to those with less diverse boards

Leadership Diversity and Impact Interpretation

While the statistics underscore that diverse leadership in the RIA industry fosters innovation and boosts profits—being 3.2 times more likely to offer culturally competent advice and 1.8 times more likely to outperform—it's telling that only 12% of senior leadership are from minority backgrounds, reminding us that the true wealth of inclusion is yet to be fully realized.

Mentorship and Employee Development

70% of new hires in RIA firms from diverse backgrounds receive mentorship within their first year
75% of minority advisors report that mentorship programs significantly improve their career advancement prospects

Mentorship and Employee Development Interpretation

These statistics reveal that mentorship in the RIA industry is not just a feel-good gesture but a vital catalyst for diversifying and advancing the next generation of financial advisors.