Diversity, equity, and inclusion efforts across US RIAs are no longer confined to intention. With 62.4% of RIAs now reporting formal DEI policies, up 14.2% from 2021, the industry is clearly moving beyond basics, even as gaps remain in places like pay transparency and equitable hiring. We pulled together the most telling DEI and equity metrics, from supplier diversity spend and equity training hours to the retention and ROI outcomes firms can actually measure.
Key Takeaways
- 62.4% of RIAs had formal DEI policies in 2023, up 14.2% from 2021
- 45.7% RIAs implemented pay equity audits in 2022
- 38.1% offered equity-focused scholarships for underrepresented in 2023
- In 2023, women comprised only 27.4% of all registered investment advisor (RIA) professionals in the US, compared to 72.6% men
- Among RIA firm executives, female representation stood at 19.8% in 2022, a 2.1% increase from 2020
- 34.2% of entry-level RIA advisors were women in 2023, but this dropped to 21.5% at senior advisor levels
- Employee engagement scores rose 12.7% post-DEI in RIAs 2023
- Inclusive culture ratings: 4.1/5 average for top RIAs 2022
- Retention improved 9.3% with inclusion programs in 2023 RIAs
- 14.6% of C-suite in RIAs were women or minorities in 2023
- Black executives in RIAs reached 2.9% in top 100 firms 2022
- 11.2% of RIA CEOs were diverse (gender/race) in 2023
- Black or African American individuals made up 7.2% of RIA workforce in 2023, up from 5.9% in 2020
- Hispanic/Latino RIAs represented 6.8% of professionals in 2022
- Asian Americans comprised 9.1% of RIA employees in top firms in 2023
In 2023, RIAs expanded DEI practices, and inclusion delivered stronger engagement, retention, and measurable ROI.
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01 · Category
Equity Initiatives30 stats
01
62.4% of RIAs had formal DEI policies in 2023, up 14.2% from 2021
02
45.7% RIAs implemented pay equity audits in 2022
03
38.1% offered equity-focused scholarships for underrepresented in 2023
04
Supplier diversity spend by RIAs: 7.3% of total in 2023
05
29.6% RIAs with equitable promotion frameworks in 2022
06
Equity training hours averaged 12.4 per employee in participating RIAs 2023
07
51.3% RIAs adjusted comp for equity in 2023
08
Equity goal attainment: 67.2% for gender targets in 2022 RIAs
09
34.8% RIAs with minority equity funds access programs 2023
10
Pay transparency policies in 26.5% RIAs 2023
11
42.1% RIAs budgeted for equity initiatives ($150k avg) 2022
12
Equitable hiring tech adopted by 19.7% RIAs 2023
13
37.4% RIAs with family leave equity policies 2023
14
Equity metrics tracked in 28.9% RIA dashboards 2023
15
ROI on equity programs: 1.8x in top RIAs 2022
16
31.2% RIAs partnered for equity mentorship 2023
17
Equity surveys conducted annually by 44.6% RIAs 2023
18
25.8% RIAs with equity bonus structures 2023
19
Equity attainment for racial targets: 54.3% in 2023
20
Equity program maturity score: 3.4/5 for RIAs 2023
21
22.7% RIAs with equitable tech access initiatives 2023
22
New RIA equity commitments: 39.1% at launch 2023
23
Equity vendor audits: 16.4% compliance in large RIAs 2023
24
Equity grievance processes in 33.2% RIAs 2022
25
41.9% RIAs equitable in client allocation 2023
26
Equity pay adjustments made in 47.6% RIAs 2023
27
35.7% DEI equity leads trained 2023
28
Equity event sponsorship: 28.4% RIAs 2023
29
Equity cert reimbursements: 52.1% coverage 2020-2023 growth
30
29.8% solo RIAs with self-equity plans 2023
Interpretation
Equity Initiatives Interpretation
The data suggests the RIA industry is earnestly, if unevenly, climbing the mountain of equity, as while over half now have formal DEI policies, many foundational practices—like transparent pay or tracking progress—still linger in the foothills of good intentions.
02 · Category
Gender Diversity30 stats
01
In 2023, women comprised only 27.4% of all registered investment advisor (RIA) professionals in the US, compared to 72.6% men
02
Among RIA firm executives, female representation stood at 19.8% in 2022, a 2.1% increase from 2020
03
34.2% of entry-level RIA advisors were women in 2023, but this dropped to 21.5% at senior advisor levels
04
RIA firms with over 100 employees had 29.1% female workforce in 2023, versus 24.7% in firms under 50 employees
05
In 2022, only 15.6% of RIA board seats were held by women across top 200 firms
06
Female-owned RIA firms represented 12.3% of all SEC-registered RIAs in 2023, up from 9.8% in 2019
07
41.7% of RIA interns in 2023 were women, but retention rate to full-time was 28.4%
08
Pay gap in RIAs showed women earning 82.3% of male counterparts' median salary in 2022 ($145,000 vs $176,000)
09
26.9% of RIA client-facing roles were held by women in 2023
10
Women in RIA leadership roles increased by 3.4% YoY in 2023, reaching 22.1%
11
18.5% of RIA firms reported gender diversity training in 2023
12
Female progression rate in RIAs was 14.2% from associate to partner in 2022
13
31.4% of millennial women in RIAs plan to leave within 2 years due to lack of advancement, per 2023 survey
14
Women held 25.6% of RIA compliance roles in 2023, highest among departments
15
13.7% of women-led RIA teams outperformed male-led by AUM growth in 2022
16
Gender diversity score in top RIAs averaged 3.2/5 in 2023 audits
17
22.8% female participation in RIA mentorship programs in 2023
18
Women RIAs reported 17% higher client satisfaction scores in diverse teams, 2023 study
19
29.3% of RIA hiring targets for women met in 2023
20
Female attrition rate in RIAs was 11.4% in 2022, vs 8.2% for men
21
24.1% women in RIA tech roles in 2023, growing fastest segment
22
Women founded 16.5% of new RIAs in 2023
23
20.7% female VPs in RIAs with AUM >$1B in 2023
24
Gender bias complaints in RIAs rose 4.2% to 9.1 per 1000 employees in 2022
25
28.6% women in RIA sales roles, lowest penetration area in 2023
26
Female RIA partners earned 87.2% of male partners in 2023 ($320k vs $367k)
27
33.1% of RIA diversity committees chaired by women in 2023
28
Women represented 23.4% of RIA conference speakers in 2023
29
19.2% growth in female RIA certifications (CFP, etc.) from 2020-2023
30
25.9% of solo RIA practitioners were women in 2023
Interpretation
Gender Diversity Interpretation
The RIA industry’s gender balance sheet shows we’re still in a long, awkward beta test: we enthusiastically recruit women at the front door, yet somehow the executive suite remains a depressingly exclusive club where even the chairs are mostly reserved.
03 · Category
Inclusion Outcomes30 stats
01
Employee engagement scores rose 12.7% post-DEI in RIAs 2023
02
Inclusive culture ratings: 4.1/5 average for top RIAs 2022
03
Retention improved 9.3% with inclusion programs in 2023 RIAs
04
67.4% employees felt included in diverse RIAs 2023 survey
05
Innovation output up 14.2% in inclusive RIA teams 2022
06
Belonging scores: 76.8% in RIAs with ERGs 2023
07
Client diversity mirrored workforce in 41.6% inclusive RIAs 2023
08
Productivity gain: 11.9% from inclusion training 2022
09
82.3% reported psychological safety in high-inclusion RIAs 2023
10
AUM growth 7.8% higher in inclusive firms 2023
11
Inclusion Net Promoter Score: 68 in top RIAs 2022
12
Collaboration metrics up 15.4% post-inclusion 2023
13
71.2% diverse employees recommend employer 2023
14
Error rates down 8.7% in inclusive RIAs 2023
15
Inclusion ROI: 2.3x investment return 2022 study
16
64.9% felt valued in RIA inclusion programs 2023
17
Mentorship satisfaction: 89.2% in inclusive RIAs 2023
18
Client NPS up 9.1% with diverse inclusive teams 2023
19
55.6% RIAs hit inclusion benchmarks 2023
20
Turnover cost savings: $2.1M avg per inclusive RIA 2022
21
18.4% faster decision-making in inclusive teams 2023
22
Inclusion in new RIAs: 46.7% from day one 2023
23
13.2% higher profitability in inclusive RIAs 2023
24
Inclusion complaints down 6.4% in trained RIAs 2022
25
77.5% inclusive client servicing satisfaction 2023
26
Inclusion-driven revenue: 10.5% uplift 2023
27
62.1% leadership buy-in for inclusion 2023
28
Event inclusion feedback: 84.3% positive 2023
29
Inclusion cert impact: 16.7% engagement boost 2020-2023
30
69.4% solo RIAs report high inclusion self-score 2023
Interpretation
Inclusion Outcomes Interpretation
It seems that when RIAs actually embrace diversity, equity, and inclusion, they don't just get a gold star for being nice—they also get a vault full of cash, a happier team, and smarter clients who stick around.
More related reading
04 · Category
Leadership Representation29 stats
01
14.6% of C-suite in RIAs were women or minorities in 2023
02
Black executives in RIAs reached 2.9% in top 100 firms 2022
03
11.2% of RIA CEOs were diverse (gender/race) in 2023
04
Female CFOs in RIAs: 17.4% in firms >$500M AUM 2023
05
Diverse board chairs in RIAs: 9.8% in 2022
06
Minority managing partners: 4.1% across RIAs 2023
07
23.7% women in RIA partner groups in 2023
08
Leadership diversity correlated with 8.2% higher AUM growth in 2022
09
7.5% Asian leaders in RIA C-suite 2023
10
Succession planning included diverse candidates in 12.4% RIAs 2023
11
16.9% female COOs in RIAs 2023
12
Diverse leadership training in 8.3% of RIAs 2022
13
21.4% diverse VPs promoted internally in 2023
14
Minority CIOs in RIAs: 3.6% in 2023
15
Leadership diversity score: 3.1/5 for RIAs 2023
16
18.2% women on RIA investment committees 2023
17
Diverse leaders linked to 10.1% better risk management, 2023 RIA study
18
13.7% of leadership hires diverse in 2023
19
Leadership attrition for diverse execs: 9.4% in 2022
20
15.3% diverse in RIA strategy roles 2023
21
New RIA leadership diverse in 11.8% startups 2023
22
12.6% minority directors in large RIAs 2023
23
Leadership bias incidents: 3.7 per 1000 in 2022
24
19.5% diverse in RIA BD leadership 2023
25
Diverse partners averaged 92.1% pay parity in 2023
26
22.3% diverse leadership committees 2023
27
14.9% diverse keynote leaders at RIA forums 2023
28
Leadership certs for diverse: 12.4% growth 2020-2023
29
17.2% diverse solo RIA leaders 2023
Interpretation
Leadership Representation Interpretation
The RIA industry's diversity statistics resemble a "just add water" pancake mix that's still mostly powder, promising a future feast but currently serving a meager and unsatisfying breakfast.
05 · Category
Racial/Ethnic Diversity30 stats
01
Black or African American individuals made up 7.2% of RIA workforce in 2023, up from 5.9% in 2020
02
Hispanic/Latino RIAs represented 6.8% of professionals in 2022
03
Asian Americans comprised 9.1% of RIA employees in top firms in 2023
04
Native American representation in RIAs was 0.4% in 2023, stagnant since 2019
05
4.3% of RIA executives were Black in 2022
06
Multicultural-owned RIAs grew to 8.7% of total in 2023
07
11.5% of RIA interns identified as Hispanic in 2023
08
Racial pay gap showed Black RIAs earning 78.6% of white counterparts in 2022
09
5.9% of client-facing RIA roles were held by minorities in 2023
10
Asian RIA leaders increased 2.8% to 7.4% in 2023
11
3.2% of RIA firms had racial diversity training mandatory in 2023
12
Black progression to partner in RIAs was 2.1% in 2022
13
14.7% of Gen Z minorities in RIAs plan to stay long-term, vs 22.3% white peers, 2023
14
Minorities held 8.4% of RIA operations roles in 2023
15
Minority-led RIA teams showed 12% higher retention in 2022
16
Ethnic diversity index for RIAs averaged 2.8/5 in 2023
17
9.6% minority participation in RIA ERGs in 2023
18
Diverse RIA teams had 15.2% higher client retention for ethnic minorities, 2023
19
7.1% of RIA hiring goals for minorities achieved in 2023
20
Minority attrition in RIAs was 16.3% in 2022
21
6.5% minorities in RIA fintech positions in 2023
22
Ethnic minority founded 4.2% of new RIAs in 2023
23
3.9% minority SVPs in large RIAs in 2023
24
Ethnic discrimination reports up 5.1% to 6.8 per 1000 in RIAs 2022
25
4.7% minorities in RIA marketing roles in 2023
26
Minority RIA partners earned 81.4% of white peers in 2023
27
11.2% of RIA DEI leads were ethnic minorities in 2023
28
6.3% minority speakers at RIA events in 2023
29
Minority certifications in RIAs grew 9.8% from 2020-2023
30
8.1% ethnic minority solo RIAs in 2023
Interpretation
Racial/Ethnic Diversity Interpretation
The RIA industry's DEI report card reads like a student who aced the extra credit but is still failing the core class: there are bright spots of progress in hiring and multicultural firms, yet the foundational issues of pay equity, leadership representation, and retention reveal a glaring gap between intention and meaningful integration.
Reference
Cite This Report
This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.
APA
Nathan Caldwell. (2026, February 13). Diversity Equity And Inclusion In The Ria Industry Statistics. Gitnux. https://gitnux.org/diversity-equity-and-inclusion-in-the-ria-industry-statistics
MLA
Nathan Caldwell. "Diversity Equity And Inclusion In The Ria Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/diversity-equity-and-inclusion-in-the-ria-industry-statistics.
Chicago
Nathan Caldwell. 2026. "Diversity Equity And Inclusion In The Ria Industry Statistics." Gitnux. https://gitnux.org/diversity-equity-and-inclusion-in-the-ria-industry-statistics.
Sources & references
30 datasets cited across this report · attribution is report-level