This page explores the financial advisor industry and how households across the U.S. connect with help—from the share of Americans who use an advisor to how firms are staffed and compensated. We also track what’s driving practice changes, including fee models, digital tools, and the rise of ESG and sustainable investing. Along the way, you’ll see how tech adoption and client expectations influence growth, retention, and succession planning.
Key Takeaways
- 4% of financial advisors are Asian in 2023
- 20% of financial advisors manage more than $500 million in AUM in 2023
- $1.3 trillion in assets under management by ESG-focused strategies at US wealth managers in 2023
- 48% of RIA firms have a flat fee or subscription fee option in 2024
- 76% of clients prefer fee-only advisors over commission-based in 2022
- 39% of RIAs charge an hourly rate for financial planning in 2023
- 54% of financial advisors use robo-advisor or hybrid solutions in 2023
- 88% of advisors use social media for business development in 2023
- 51% of advisors use digital client portals in 2024
- 31% of US households use a financial advisor in 2023
- 65% of advisors have increased client assets year-over-year in 2023
- Projected growth rate for personal financial advisor jobs from 2022-2032 is 13%
- 65% of advisors have a succession plan in place as of 2024
- 53% of advisors report increasing demand for sustainable investing in 2023
- 33% of advisors have a formal client experience plan in 2024
Advisors are increasingly fee focused, tech enabled, and sustainable, with strong growth and rising client demand.
Related reading
01 · Category
Technology Adoption9 stats
01
54% of financial advisors use robo-advisor or hybrid solutions in 2023
02
88% of advisors use social media for business development in 2023
03
51% of advisors use digital client portals in 2024
04
70% of advisors use third-party rebalancing software in 2023
05
46% of wealth management firms have implemented AI in some form
06
39% of advisors use an automated rebalancing tool in 2021
07
39% of advisors use an automated rebalancing tool in 2022
08
29% of advisors use an automated rebalancing tool in 2023
09
33% of advisors use an automated rebalancing tool in 2024
Interpretation
Technology Adoption Interpretation
Technology Adoption is accelerating in wealth management, with 54% of financial advisors already using robo or hybrid solutions in 2023 and 46% of firms adopting AI in some form, while social media and digital portals continue to broaden how clients are reached and served.
report visual · Projection
Automated rebalancing tool adoption (Advisors)
Adoption fell after a peak—39% in 2022 led, then declined to 29% in 2023 before rebounding to 33% in 2024.
39 Percent of advisors
Start
-5.42%
CAGR · 3y
33 Percent of advisors
Projected
20222025
source-verifiedcertain.com2024
02 · Category
Market Size4 stats
01
31% of US households use a financial advisor in 2023
02
65% of advisors have increased client assets year-over-year in 2023
03
Projected growth rate for personal financial advisor jobs from 2022-2032 is 13%
04
RIA channel accounts for 33% of total wealth management assets
Interpretation
Market Size Interpretation
With 31% of US households already using a financial advisor and personal financial advisor jobs projected to grow 13% from 2022 to 2032, the market size for wealth management looks poised to expand steadily rather than shrink, especially as RIAs hold 33% of total wealth management assets.
03 · Category
Fee Trends3 stats
01
48% of RIA firms have a flat fee or subscription fee option in 2024
02
76% of clients prefer fee-only advisors over commission-based in 2022
03
39% of RIAs charge an hourly rate for financial planning in 2023
Interpretation
Fee Trends Interpretation
In fee trends, the industry is clearly leaning toward more transparent planning models, with 48% of RIA firms offering flat or subscription fees in 2024, 39% charging hourly for financial planning in 2023, and 76% of clients preferring fee-only advisors over commissions in 2022.
More related reading
04 · Category
Industry Trends3 stats
01
65% of advisors have a succession plan in place as of 2024
02
53% of advisors report increasing demand for sustainable investing in 2023
03
33% of advisors have a formal client experience plan in 2024
Interpretation
Industry Trends Interpretation
Industry Trends suggest that 65% of financial advisors already have succession plans in place in 2024, while growing client expectations around sustainable investing and client experience are visible with 53% reporting increased demand for sustainable investing in 2023 and only 33% having formal client experience plans.
05 · Category
Assets Under Management2 stats
01
20% of financial advisors manage more than $500 million in AUM in 2023
02
$1.3 trillion in assets under management by ESG-focused strategies at US wealth managers in 2023
Interpretation
Assets Under Management Interpretation
In 2023, about 20% of financial advisors managed over $500 million in AUM, showing how concentrated wealth is within the Assets Under Management category, while the $1.3 trillion held by ESG-focused strategies at US wealth managers underscores a major, growing channel of AUM allocation.
06 · Category
Industry Overview7 stats
01
29% of advisors use direct indexing
02
56% of advisors expect to increase fixed income allocations
03
4% of financial advisors are Asian in 2023
04
29% of advisors use an automated rebalancing tool in 2023
05
52% of clients say they value personalized advice over low fees in 2023
06
36% of advisors use an outsourced chief investment officer (CIO) service in 2023
07
42% of advisors use video conferencing for client meetings
Interpretation
Industry Overview Interpretation
Across the industry overview, advisors are increasingly turning to tools and specialized support, with 29% using automated rebalancing and 36% relying on outsourced CIO services, while clients still strongly prioritize personalization, as 52% value tailored advice over low fees.
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
Gabrielle Fontaine. (2026, February 13). Financial Advisor Industry Statistics. Gitnux. https://gitnux.org/financial-advisor-industry-statistics
MLA
Gabrielle Fontaine. "Financial Advisor Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/financial-advisor-industry-statistics.
Chicago
Gabrielle Fontaine. 2026. "Financial Advisor Industry Statistics." Gitnux. https://gitnux.org/financial-advisor-industry-statistics.
Sources & references
28 datasets cited across this report · attribution is report-level
+16 additional datasets cited (not shown individually)