GITNUXREPORT 2026

Financial Advisors Industry Statistics

The financial advising industry is thriving globally with strong revenue and asset growth.

Written by Rachel Svensson·Edited by Sophie Moreland·Fact-checked by Claire Beaumont

Published Feb 13, 2026·Last verified Feb 13, 2026·Next review: Aug 2026

How We Build This Report

Primary Source Collection

Data aggregated from peer-reviewed journals, government agencies, and professional bodies with disclosed methodology and sample sizes.

Editorial Curation

Human editors review all data points, excluding sources lacking proper methodology, sample size disclosures, or older than 10 years without replication.

AI-Powered Verification

Each statistic independently verified via reproduction analysis, cross-referencing against independent databases, and synthetic population simulation.

Human Cross-Check

Final human editorial review of all AI-verified statistics. Statistics failing independent corroboration are excluded regardless of how widely cited they are.

Statistics that could not be independently verified are excluded regardless of how widely cited they are elsewhere.

Our process →

Statistic 1

U.S. financial advisors' AUM totaled $128.4 trillion in 2023.

Statistic 2

Average RIA AUM per advisor was $6.7 million in 2023.

Statistic 3

Fee-only advisors' revenue averaged $1.2 million per practice in 2023.

Statistic 4

Wirehouse advisors' average revenue per advisor hit $1.8 million in 2023.

Statistic 5

45% of advisory revenue comes from assets under management fees averaging 0.95%.

Statistic 6

Hybrid RIA revenue grew 14% to $45 billion in 2023.

Statistic 7

Average commission revenue per advisor declined to $150,000 in 2023.

Statistic 8

RIAs with $1B+ AUM generated 62% of total industry revenue.

Statistic 9

Profit margins for advisory firms averaged 28% in 2023.

Statistic 10

AUM per client averaged $1.5 million for high-net-worth advisors.

Statistic 11

32% revenue growth for breakaway broker channels 2020-2023.

Statistic 12

Average hourly earnings from advisory services $48.50 in 2023 BLS data.

Statistic 13

Enterprise RIA AUM share reached 35% of total in 2023.

Statistic 14

Advisory firm EBITDA margins hit 32% for top quartile in 2023.

Statistic 15

Revenue per employee in RIAs averaged $450,000 in 2023.

Statistic 16

1% AUM fee tier accounts for 55% of fee revenue.

Statistic 17

Insurance-affiliated advisors revenue $12 billion in 2023.

Statistic 18

Solo advisor average revenue $750,000, up 8% YoY 2023.

Statistic 19

68% of revenue from recurring fees in 2023 surveys.

Statistic 20

Average HNW client portfolio size $5.2 million AUM in 2023.

Statistic 21

55% of U.S. households use financial advisors, up from 38% in 2010.

Statistic 22

42% of advisor clients are aged 55+, holding 70% of AUM.

Statistic 23

Millennial clients grew 25% to 22% of client base in 2023.

Statistic 24

Average client net worth $2.8 million in mass affluent segment.

Statistic 25

28% of clients are women-headed households in 2023.

Statistic 26

HNW individuals (>$1M investable) represent 12% of clients but 65% AUM.

Statistic 27

15% annual increase in Gen Z clients seeking advice since 2020.

Statistic 28

Average client retention rate for advisors 92% in 2023.

Statistic 29

37% of clients prefer digital-first advisors.

Statistic 30

Retiree clients comprise 35% of total, averaging $3.1M AUM.

Statistic 31

Diverse clients (non-white) grew to 24% of base in 2023.

Statistic 32

UHNW clients (>$30M) number 800,000 globally, advisor focus.

Statistic 33

48% of clients meet advisors quarterly.

Statistic 34

ESG-interested clients 41%, driving service shifts.

Statistic 35

Average client age 59 years in 2024 advisor data.

Statistic 36

62% of clients have $500K+ investable assets.

Statistic 37

Female clients control 51% of investable wealth growth.

Statistic 38

19% of clients are business owners.

Statistic 39

Client referrals account for 83% of new business.

Statistic 40

Mass market clients ($100K-$1M) 55% of base.

Statistic 41

67% client satisfaction with personalized planning.

Statistic 42

SEC Form ADV shows 50 million advisory clients in U.S. 2023.

Statistic 43

23% growth in next-gen client transfers 2020-2023.

Statistic 44

71% of clients prioritize tax planning services.

Statistic 45

Average client household income $250,000+.

Statistic 46

52% of advisors serve multi-generational families.

Statistic 47

Holistic planning clients increased 18% to 65% of base.

Statistic 48

The U.S. financial advising industry generated $58.7 billion in revenue in 2023, marking a 7.2% increase from 2022.

Statistic 49

Globally, the financial advisory market size reached $147.5 billion in 2023 and is projected to grow to $248.3 billion by 2030 at a CAGR of 7.5%.

Statistic 50

In 2024, the number of registered investment advisors (RIAs) in the U.S. stood at 15,396, managing over $128 trillion in assets.

Statistic 51

The financial planning software market, integral to advisors, was valued at $3.2 billion in 2023, expected to reach $6.8 billion by 2031.

Statistic 52

Europe's wealth management market grew by 8.1% in 2023, with assets under management hitting €28.5 trillion.

Statistic 53

U.S. robo-advisory assets under management surged 28% to $1.4 trillion in 2023.

Statistic 54

The advisory industry's compound annual growth rate (CAGR) from 2019-2023 was 5.4%, driven by rising affluence.

Statistic 55

In Australia, financial advice revenue reached AUD 4.2 billion in 2023, up 6% YoY.

Statistic 56

Asia-Pacific financial advisory market is forecasted to grow at 9.2% CAGR to $85 billion by 2028.

Statistic 57

U.S. financial advisor industry employment is projected to grow 13% from 2023 to 2033, faster than average.

Statistic 58

Canada’s financial planning industry revenue hit CAD 5.8 billion in 2023.

Statistic 59

The holistic financial planning segment grew 12% in 2023, comprising 22% of total advisory revenue.

Statistic 60

U.S. independent broker-dealer channel AUM reached $2.8 trillion in 2023.

Statistic 61

Global sustainable investing assets managed by advisors topped $35 trillion in 2022.

Statistic 62

U.K. financial advice market size was £7.2 billion in 2023, with 5% growth.

Statistic 63

Fee-based advisory revenue in the U.S. increased 9.3% to $54 billion in 2023.

Statistic 64

Latin America financial advisory market projected to reach $25 billion by 2027 at 8.5% CAGR.

Statistic 65

U.S. wirehouse advisors managed $9.5 trillion AUM in 2023.

Statistic 66

Digital advisory platforms grew 25% in user base to 45 million globally in 2023.

Statistic 67

India’s financial advisory market valued at $12 billion in 2023, CAGR 15% expected.

Statistic 68

85% of SEC-registered advisors comply with fiduciary standards.

Statistic 69

DOL fiduciary rule implementation affected 40% of advisors in 2023.

Statistic 70

92% of RIAs underwent cybersecurity audits in 2023.

Statistic 71

ESG disclosure requirements impacted 35% of advisory firms.

Statistic 72

Average compliance cost per advisor $250,000 annually.

Statistic 73

68% of advisors adopted AI tools for client service in 2023.

Statistic 74

Reg BI violations led to $150 million in fines 2023.

Statistic 75

45% shift to model portfolios post-2022 market volatility.

Statistic 76

Crypto advisory services offered by 22% of firms.

Statistic 77

Succession planning formalized in 58% of practices.

Statistic 78

76% use outsourced chief compliance officers.

Statistic 79

Direct indexing AUM grew 40% to $500 billion.

Statistic 80

31% of advisors project 10%+ organic growth 2024.

Statistic 81

Fee compression reduced average AUM fee to 0.92%.

Statistic 82

64% integrate behavioral finance in advice.

Statistic 83

Private markets allocation rose to 15% in portfolios.

Statistic 84

89% compliance with AML/KYC regulations.

Statistic 85

Hybrid work models adopted by 82% of firms.

Statistic 86

27% increase in M&A transactions among RIAs.

Statistic 87

Personalized ESG strategies for 39% of HNW clients.

Statistic 88

Tech spend per advisor $35,000 annually 2023.

Statistic 89

U.S. financial advisors numbered 334,000 in 2023 per BLS data.

Statistic 90

65% of U.S. financial advisors are male, with women comprising 35% as of 2023.

Statistic 91

Average age of U.S. financial advisors is 52 years in 2024.

Statistic 92

27,000 new CFP professionals were certified between 2020-2023.

Statistic 93

42% of advisors plan to retire within 10 years, creating 100,000 job openings.

Statistic 94

Median annual wage for financial advisors was $99,580 in May 2023.

Statistic 95

15% of U.S. advisors are independent RIAs with 1-5 employees in 2023.

Statistic 96

Top 10% of advisors earn over $239,200 annually per BLS 2023 data.

Statistic 97

72% of advisors hold bachelor's degrees, 19% have master's in 2023 survey.

Statistic 98

U.S. advisor turnover rate averaged 12% in 2023, highest in wirehouses at 15%.

Statistic 99

28% of advisors are under 40 years old as of 2024.

Statistic 100

ChFC designation held by 8,500 advisors in 2023.

Statistic 101

55% of advisors work in firms with 10-50 employees.

Statistic 102

Average advisor manages 145 clients in 2023.

Statistic 103

18% growth in millennial advisors from 2018-2023.

Statistic 104

3.2 advisors per 1,000 households in U.S. in 2023.

Statistic 105

41% of advisors are self-employed or solo practitioners.

Statistic 106

Average work experience of advisors is 17 years in 2024.

Statistic 107

62% of advisors specialize in retirement planning.

Statistic 108

Job openings for advisors averaged 25,000 annually 2021-2023.

Statistic 109

76% of advisors use CRM software daily in 2023.

Statistic 110

Total U.S. RIA advisor headcount reached 192,000 in 2023.

Statistic 111

Female advisors' AUM share grew to 14% in 2023.

Statistic 112

Advisors with 20+ years experience comprise 48% of workforce.

Statistic 113

Average RIA firm has 12 advisors in 2023.

Statistic 114

9% of advisors are bilingual, aiding diverse clients.

1/114

Sources

Trusted by 500+ publications

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With trillions in assets on the move and a wave of fresh clients seeking guidance, the financial advisory industry is not just growing—it's fundamentally reshaping how wealth is managed globally.

Key Takeaways

The U.S. financial advising industry generated $58.7 billion in revenue in 2023, marking a 7.2% increase from 2022.
Globally, the financial advisory market size reached $147.5 billion in 2023 and is projected to grow to $248.3 billion by 2030 at a CAGR of 7.5%.
In 2024, the number of registered investment advisors (RIAs) in the U.S. stood at 15,396, managing over $128 trillion in assets.
U.S. financial advisors numbered 334,000 in 2023 per BLS data.
65% of U.S. financial advisors are male, with women comprising 35% as of 2023.
Average age of U.S. financial advisors is 52 years in 2024.
U.S. financial advisors' AUM totaled $128.4 trillion in 2023.
Average RIA AUM per advisor was $6.7 million in 2023.
Fee-only advisors' revenue averaged $1.2 million per practice in 2023.
55% of U.S. households use financial advisors, up from 38% in 2010.
42% of advisor clients are aged 55+, holding 70% of AUM.
Millennial clients grew 25% to 22% of client base in 2023.
85% of SEC-registered advisors comply with fiduciary standards.
DOL fiduciary rule implementation affected 40% of advisors in 2023.
92% of RIAs underwent cybersecurity audits in 2023.

The financial advising industry is thriving globally with strong revenue and asset growth.

AUM & Revenue

1U.S. financial advisors' AUM totaled $128.4 trillion in 2023.

Verified

2Average RIA AUM per advisor was $6.7 million in 2023.

Verified

3Fee-only advisors' revenue averaged $1.2 million per practice in 2023.

Verified

4Wirehouse advisors' average revenue per advisor hit $1.8 million in 2023.

Directional

545% of advisory revenue comes from assets under management fees averaging 0.95%.

Single source

6Hybrid RIA revenue grew 14% to $45 billion in 2023.

Verified

7Average commission revenue per advisor declined to $150,000 in 2023.

Verified

8RIAs with $1B+ AUM generated 62% of total industry revenue.

Verified

9Profit margins for advisory firms averaged 28% in 2023.

Directional

10AUM per client averaged $1.5 million for high-net-worth advisors.

Single source

1132% revenue growth for breakaway broker channels 2020-2023.

Verified

12Average hourly earnings from advisory services $48.50 in 2023 BLS data.

Verified

13Enterprise RIA AUM share reached 35% of total in 2023.

Verified

14Advisory firm EBITDA margins hit 32% for top quartile in 2023.

Directional

15Revenue per employee in RIAs averaged $450,000 in 2023.

Single source

161% AUM fee tier accounts for 55% of fee revenue.

Verified

17Insurance-affiliated advisors revenue $12 billion in 2023.

Verified

18Solo advisor average revenue $750,000, up 8% YoY 2023.

Verified

1968% of revenue from recurring fees in 2023 surveys.

Directional

20Average HNW client portfolio size $5.2 million AUM in 2023.

Single source

AUM & Revenue Interpretation

While advisors are collectively swimming in a staggering $128.4 trillion pool, the real art of the trade is in the shallow end, where a few big fish hoard most of the bait, soloists enjoy a modest but rising tide, and everyone else is paddling hard to keep their profit margins comfortably afloat.

Client Base & Demographics

155% of U.S. households use financial advisors, up from 38% in 2010.

Verified

242% of advisor clients are aged 55+, holding 70% of AUM.

Verified

3Millennial clients grew 25% to 22% of client base in 2023.

Verified

4Average client net worth $2.8 million in mass affluent segment.

Directional

528% of clients are women-headed households in 2023.

Single source

6HNW individuals (>$1M investable) represent 12% of clients but 65% AUM.

Verified

715% annual increase in Gen Z clients seeking advice since 2020.

Verified

8Average client retention rate for advisors 92% in 2023.

Verified

937% of clients prefer digital-first advisors.

Directional

10Retiree clients comprise 35% of total, averaging $3.1M AUM.

Single source

11Diverse clients (non-white) grew to 24% of base in 2023.

Verified

12UHNW clients (>$30M) number 800,000 globally, advisor focus.

Verified

1348% of clients meet advisors quarterly.

Verified

14ESG-interested clients 41%, driving service shifts.

Directional

15Average client age 59 years in 2024 advisor data.

Single source

1662% of clients have $500K+ investable assets.

Verified

17Female clients control 51% of investable wealth growth.

Verified

1819% of clients are business owners.

Verified

19Client referrals account for 83% of new business.

Directional

20Mass market clients ($100K-$1M) 55% of base.

Single source

2167% client satisfaction with personalized planning.

Verified

22SEC Form ADV shows 50 million advisory clients in U.S. 2023.

Verified

2323% growth in next-gen client transfers 2020-2023.

Verified

2471% of clients prioritize tax planning services.

Directional

25Average client household income $250,000+.

Single source

2652% of advisors serve multi-generational families.

Verified

27Holistic planning clients increased 18% to 65% of base.

Verified

Client Base & Demographics Interpretation

While more Americans are seeking financial advice, the industry remains a seasoned cocktail party where the young are arriving late, the old are holding most of the chips, and everyone is finally realizing they should have invited more women.

Market Size & Growth

1The U.S. financial advising industry generated $58.7 billion in revenue in 2023, marking a 7.2% increase from 2022.

Verified

2Globally, the financial advisory market size reached $147.5 billion in 2023 and is projected to grow to $248.3 billion by 2030 at a CAGR of 7.5%.

Verified

3In 2024, the number of registered investment advisors (RIAs) in the U.S. stood at 15,396, managing over $128 trillion in assets.

Verified

4The financial planning software market, integral to advisors, was valued at $3.2 billion in 2023, expected to reach $6.8 billion by 2031.

Directional

5Europe's wealth management market grew by 8.1% in 2023, with assets under management hitting €28.5 trillion.

Single source

6U.S. robo-advisory assets under management surged 28% to $1.4 trillion in 2023.

Verified

7The advisory industry's compound annual growth rate (CAGR) from 2019-2023 was 5.4%, driven by rising affluence.

Verified

8In Australia, financial advice revenue reached AUD 4.2 billion in 2023, up 6% YoY.

Verified

9Asia-Pacific financial advisory market is forecasted to grow at 9.2% CAGR to $85 billion by 2028.

Directional

10U.S. financial advisor industry employment is projected to grow 13% from 2023 to 2033, faster than average.

Single source

11Canada’s financial planning industry revenue hit CAD 5.8 billion in 2023.

Verified

12The holistic financial planning segment grew 12% in 2023, comprising 22% of total advisory revenue.

Verified

13U.S. independent broker-dealer channel AUM reached $2.8 trillion in 2023.

Verified

14Global sustainable investing assets managed by advisors topped $35 trillion in 2022.

Directional

15U.K. financial advice market size was £7.2 billion in 2023, with 5% growth.

Single source

16Fee-based advisory revenue in the U.S. increased 9.3% to $54 billion in 2023.

Verified

17Latin America financial advisory market projected to reach $25 billion by 2027 at 8.5% CAGR.

Verified

18U.S. wirehouse advisors managed $9.5 trillion AUM in 2023.

Verified

19Digital advisory platforms grew 25% in user base to 45 million globally in 2023.

Directional

20India’s financial advisory market valued at $12 billion in 2023, CAGR 15% expected.

Single source

Market Size & Growth Interpretation

Despite managing staggering sums like $128 trillion, the financial advice industry's own growth—projected to double globally—suggests we're either getting much richer or increasingly lost.

Trends & Regulations

185% of SEC-registered advisors comply with fiduciary standards.

Verified

2DOL fiduciary rule implementation affected 40% of advisors in 2023.

Verified

392% of RIAs underwent cybersecurity audits in 2023.

Verified

4ESG disclosure requirements impacted 35% of advisory firms.

Directional

5Average compliance cost per advisor $250,000 annually.

Single source

668% of advisors adopted AI tools for client service in 2023.

Verified

7Reg BI violations led to $150 million in fines 2023.

Verified

845% shift to model portfolios post-2022 market volatility.

Verified

9Crypto advisory services offered by 22% of firms.

Directional

10Succession planning formalized in 58% of practices.

Single source

1176% use outsourced chief compliance officers.

Verified

12Direct indexing AUM grew 40% to $500 billion.

Verified

1331% of advisors project 10%+ organic growth 2024.

Verified

14Fee compression reduced average AUM fee to 0.92%.

Directional

1564% integrate behavioral finance in advice.

Single source

16Private markets allocation rose to 15% in portfolios.

Verified

1789% compliance with AML/KYC regulations.

Verified

18Hybrid work models adopted by 82% of firms.

Verified

1927% increase in M&A transactions among RIAs.

Directional

20Personalized ESG strategies for 39% of HNW clients.

Single source

21Tech spend per advisor $35,000 annually 2023.

Verified

Trends & Regulations Interpretation

While advisors are diligently fortifying their digital ramparts and wrestling with a storm of new rules, they're also quietly betting the farm on AI, model portfolios, and private markets, all while trying to grow organically in an era where everyone wants personalized everything but doesn't want to pay much for it.

Workforce & Employment

1U.S. financial advisors numbered 334,000 in 2023 per BLS data.

Verified

265% of U.S. financial advisors are male, with women comprising 35% as of 2023.

Verified

3Average age of U.S. financial advisors is 52 years in 2024.

Verified

427,000 new CFP professionals were certified between 2020-2023.

Directional

542% of advisors plan to retire within 10 years, creating 100,000 job openings.

Single source

6Median annual wage for financial advisors was $99,580 in May 2023.

Verified

715% of U.S. advisors are independent RIAs with 1-5 employees in 2023.

Verified

8Top 10% of advisors earn over $239,200 annually per BLS 2023 data.

Verified

972% of advisors hold bachelor's degrees, 19% have master's in 2023 survey.

Directional

10U.S. advisor turnover rate averaged 12% in 2023, highest in wirehouses at 15%.

Single source

1128% of advisors are under 40 years old as of 2024.

Verified

12ChFC designation held by 8,500 advisors in 2023.

Verified

1355% of advisors work in firms with 10-50 employees.

Verified

14Average advisor manages 145 clients in 2023.

Directional

1518% growth in millennial advisors from 2018-2023.

Single source

163.2 advisors per 1,000 households in U.S. in 2023.

Verified

1741% of advisors are self-employed or solo practitioners.

Verified

18Average work experience of advisors is 17 years in 2024.

Verified

1962% of advisors specialize in retirement planning.

Directional

20Job openings for advisors averaged 25,000 annually 2021-2023.

Single source

2176% of advisors use CRM software daily in 2023.

Verified

22Total U.S. RIA advisor headcount reached 192,000 in 2023.

Verified

23Female advisors' AUM share grew to 14% in 2023.

Verified

24Advisors with 20+ years experience comprise 48% of workforce.

Directional

25Average RIA firm has 12 advisors in 2023.

Single source

269% of advisors are bilingual, aiding diverse clients.

Verified

Workforce & Employment Interpretation

While the financial advice industry is aging and heavily male-dominated, a wave of younger and more diverse professionals is beginning to fill the looming retirement void, suggesting the future of wealth management will look very different from its graying past.