GITNUXREPORT 2026

Financial Advisory Industry Statistics

The financial advisory industry is experiencing strong global growth as assets and technology adoption rapidly expand.

Min-ji Park

Research Analyst focused on sustainability and consumer trends.

First published: Feb 13, 2026

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Statistic 1

There are approximately 330,000 financial advisors in the U.S. as of 2023.

Statistic 2

62% of U.S. financial advisors are male, with females comprising 38% in 2023.

Statistic 3

The average age of financial advisors in the U.S. is 59 years old in 2023.

Statistic 4

15,110 RIAs were registered with the SEC in 2023, with 96% state-registered smaller firms.

Statistic 5

Over 100,000 advisors are affiliated with independent broker-dealers.

Statistic 6

27% of financial advisors hold the CFP certification as of 2023.

Statistic 7

The number of female financial advisors grew 12% to 45,000 in 2023.

Statistic 8

Average years of experience for RIAs is 22 years in 2023.

Statistic 9

42% of advisors plan to retire within the next decade as of 2023.

Statistic 10

Hybrid advisors number 58,000, managing $2.5 trillion AUM in 2023.

Statistic 11

91,000 advisors operate in wirehouse channels in 2023.

Statistic 12

CFP professionals total 94,000 in the U.S. as of 2023.

Statistic 13

75% of advisors are over 50 years old in 2023.

Statistic 14

Independent advisors total 110,000 in the U.S. in 2023.

Statistic 15

ChFC designees number 22,000 among advisors in 2023.

Statistic 16

18% of advisors are under 40 years old in 2023.

Statistic 17

RIAs employ 150,000 advisors directly in 2023.

Statistic 18

55% of advisors work at firms with 1-5 employees in 2023.

Statistic 19

CFA charterholders in advisory roles: 180,000 globally, 120,000 U.S. in 2023.

Statistic 20

Advisors switching to independence: 8,200 in 2023.

Statistic 21

Average advisor tenure at current firm: 11.5 years in 2023.

Statistic 22

33% of advisors are dual-registered in 2023.

Statistic 23

Number of new CFP certificants: 5,200 in 2023.

Statistic 24

Advisors in employee channel: 140,000 in 2023.

Statistic 25

65% of advisors have college degrees in finance-related fields.

Statistic 26

Median salary for financial advisors: $99,580 in 2023.

Statistic 27

28,500 new advisors entered the industry in 2023.

Statistic 28

45% of U.S. households with investable assets over $100,000 use a financial advisor in 2023.

Statistic 29

Average AUM per RIA client household is $1.2 million in 2023.

Statistic 30

41% of advisor clients are mass affluent ($100k-$1M assets) in 2023.

Statistic 31

High-net-worth clients (>$1M AUM) comprise 22% of advisor client base., source ultra-high-net-worth (>$5M) make up 12%.

Statistic 32

Millennial clients (under 40) represent 15% of advisory AUM in 2023.

Statistic 33

Average client age for financial advisors is 62 years in 2023.

Statistic 34

68% of clients prefer fee-only advisory structures in 2023.

Statistic 35

Total RIA client households: 48 million in 2023.

Statistic 36

Women control 32% of U.S. advisory clients' assets in 2023.

Statistic 37

55% of clients are baby boomers or older in 2023.

Statistic 38

Average annual client retention rate for RIAs: 96% in 2023.

Statistic 39

Gen X clients hold 28% of advisor AUM in 2023.

Statistic 40

19 million HNW individuals worldwide use advisors in 2023.

Statistic 41

Average assets per client for wirehouse advisors: $850,000 in 2023.

Statistic 42

72% of clients value holistic financial planning services.

Statistic 43

UHNW clients (>$30M) total 280,000 in U.S., 85% advised.

Statistic 44

Client referrals account for 82% of new advisory clients.

Statistic 45

37% of clients are self-directed but seek advice occasionally.

Statistic 46

Average number of clients per advisor: 135 in 2023.

Statistic 47

ESG-focused clients grew 20% to 15% of base in 2023.

Statistic 48

Retirement accounts represent 52% of client AUM.

Statistic 49

64% of clients under 50 prefer digital advisory tools.

Statistic 50

Median client net worth: $1.5 million for RIAs.

Statistic 51

25% of clients are non-white in 2023, up from 20% in 2020.

Statistic 52

Tax planning is top priority for 78% of HNW clients.

Statistic 53

Average AUM per independent advisor client: $950,000.

Statistic 54

43% of advisor revenue from clients over $5M AUM.

Statistic 55

Hybrid channel average client AUM: $1.1 million.

Statistic 56

90% of clients expect annual reviews.

Statistic 57

Average advisory fee revenue per client household: $12,500 in 2023.

Statistic 58

Total industry revenue from advisory fees: $65 billion in 2023.

Statistic 59

Average RIA firm revenue: $2.8 million in 2023.

Statistic 60

Profit margins for RIAs averaged 28% in 2023.

Statistic 61

Median advisor compensation: $150,000 base plus bonuses in 2023.

Statistic 62

Fee compression reduced average AUM fee to 0.95% in 2023.

Statistic 63

Top 1% RIAs generate over $50 million revenue each.

Statistic 64

Broker-dealer payout ratios averaged 48% for producing advisors.

Statistic 65

RIA operating expenses rose 7% to 72% of revenue in 2023.

Statistic 66

Average wirehouse advisor revenue: $650,000 in 2023.

Statistic 67

55% of RIA revenue from asset-based fees in 2023.

Statistic 68

Independent B/D advisor average revenue: $425,000.

Statistic 69

Profit per advisor in RIAs: $1.2 million in 2023.

Statistic 70

Hourly planning fee average: $325 in 2023.

Statistic 71

Revenue growth for RIAs: 12.5% YoY in 2023.

Statistic 72

22% of advisors earn over $500,000 annually.

Statistic 73

Fixed retainer fees average $5,000-$10,000 per client.

Statistic 74

EBITDA margins for top RIAs: 35% in 2023.

Statistic 75

Commission revenue share fell to 15% industry-wide.

Statistic 76

Average firm-level revenue per employee: $450,000.

Statistic 77

Bonus as % of total comp: 25% for top producers.

Statistic 78

AUM-based fee tiers: 1% on first $1M, 0.5% over $5M.

Statistic 79

Tech spend as % of revenue: 8% for RIAs in 2023.

Statistic 80

M&A deal value in advisory: $45 billion in 2023.

Statistic 81

Average RIA valuation multiple: 2.8x revenue.

Statistic 82

Compliance costs: 12% of operating expenses.

Statistic 83

Hybrid advisor average revenue: $550,000.

Statistic 84

68% of revenue growth from organic sources.

Statistic 85

45% of advisors use tiered fee structures.

Statistic 86

The U.S. financial advisory industry reached a total asset under management (AUM) of $128.4 trillion as of Q4 2023, marking a 13.2% year-over-year increase.

Statistic 87

Global financial advisory assets are projected to grow from $102 trillion in 2022 to $145 trillion by 2025 at a CAGR of 9.1%.

Statistic 88

The number of registered investment advisors (RIAs) in the U.S. increased to 15,396 in 2023, up 6.8% from 2022.

Statistic 89

Fee-based assets in the advisory industry grew by 15% to $9.8 trillion in 2023.

Statistic 90

The wealth management market size in North America was valued at $35.2 trillion in 2023.

Statistic 91

U.S. advisory firms' discretionary AUM hit $77 trillion in 2023.

Statistic 92

The financial planning software market for advisors is expected to reach $4.5 billion by 2028, growing at 12.3% CAGR.

Statistic 93

Broker-dealer advisory AUM grew 11.4% to $6.8 trillion in 2022.

Statistic 94

Independent RIAs control 40% of the total RIA AUM, amounting to $19.5 trillion in 2023.

Statistic 95

The robo-advisory market worldwide was valued at $8.1 billion in 2023, projected to $25.8 billion by 2028.

Statistic 96

U.S. RIA industry AUM surpassed $132 trillion as of mid-2024.

Statistic 97

Hybrid RIA platforms saw AUM growth of 18% to $2.1 trillion in 2023.

Statistic 98

The financial advisory services market in Asia-Pacific is expected to grow at 10.2% CAGR from 2023-2030.

Statistic 99

Total U.S. advisor-sold assets reached $91 trillion in 2023.

Statistic 100

Employee RIAs managed $15.2 trillion in AUM in 2023.

Statistic 101

The global wealth advisory market is forecasted to hit $1.9 trillion in revenue by 2028.

Statistic 102

U.S. financial advisor industry revenue totaled $58.5 billion in 2023.

Statistic 103

Advisory AUM per advisor averaged $450 million in 2023 for top RIAs.

Statistic 104

The number of U.S. households using financial advisors reached 42 million in 2023.

Statistic 105

Digital advisory platforms' AUM grew 25% to $1.2 trillion in 2023.

Statistic 106

U.S. wirehouse advisory AUM stood at $2.8 trillion in 2023.

Statistic 107

The financial advisory market in Europe grew 8.5% to €25 trillion AUM in 2023.

Statistic 108

Independent broker-dealer AUM increased 14% to $1.9 trillion in 2023.

Statistic 109

Total global AUM for wealth managers hit $120 trillion in 2023.

Statistic 110

U.S. RIA growth rate was 7.2% in number of firms from 2022-2023.

Statistic 111

Advisory fees as a percentage of industry revenue rose to 45% in 2023.

Statistic 112

The personal financial planning market size was $14.2 billion in 2023.

Statistic 113

U.S. advisory industry employment grew 4.1% to 320,000 jobs in 2023.

Statistic 114

Fee-only advisors' share of market rose to 28% in 2023.

Statistic 115

Total RIA client accounts reached 125 million in 2023.

Statistic 116

35% of RIAs AI adoption for revenue enhancement.

Statistic 117

72% of advisors now offer virtual meetings post-2023.

Statistic 118

Robo-advisor hybrid models adopted by 40% of firms.

Statistic 119

ESG investing integrated by 88% of advisors in 2023.

Statistic 120

61% plan cybersecurity investments increase in 2024.

Statistic 121

CRM software usage: 85% of RIAs in 2023.

Statistic 122

52% of clients demand mobile app access.

Statistic 123

AI chatbots implemented by 25% of large firms.

Statistic 124

Regulatory tech (RegTech) spend up 30% in 2023.

Statistic 125

67% of advisors use portfolio management software.

Statistic 126

Cryptocurrency advice offered by 33% of advisors.

Statistic 127

Cloud migration complete for 78% of RIAs.

Statistic 128

Personalized video content used by 45% for engagement.

Statistic 129

59% adopting goal-based planning tools.

Statistic 130

Biometric security in 22% of client portals.

Statistic 131

76% expect blockchain for settlements by 2025.

Statistic 132

Data analytics platforms in 70% of firms.

Statistic 133

41% using predictive analytics for retention.

Statistic 134

Sustainable investing AUM share: 35% in 2023.

Statistic 135

Voice assistants for planning: 12% adoption.

Statistic 136

API integrations up 50% for custodians.

Statistic 137

64% prioritize cybersecurity training.

Statistic 138

NFTs/digital assets advised by 18%.

Statistic 139

55% use automated rebalancing tools.

Statistic 140

Open banking APIs adopted by 29%.

Statistic 141

VR client meetings trialed by 8% of innovators.

Statistic 142

73% digital onboarding post-pandemic.

Statistic 143

Quantum computing pilots in 5% of large firms.

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Sources

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With global assets under management soaring past $128 trillion and the number of independent advisors growing exponentially, the financial advisory industry is undergoing a profound transformation that every investor and professional should understand.

Key Takeaways

The U.S. financial advisory industry reached a total asset under management (AUM) of $128.4 trillion as of Q4 2023, marking a 13.2% year-over-year increase.
Global financial advisory assets are projected to grow from $102 trillion in 2022 to $145 trillion by 2025 at a CAGR of 9.1%.
The number of registered investment advisors (RIAs) in the U.S. increased to 15,396 in 2023, up 6.8% from 2022.
There are approximately 330,000 financial advisors in the U.S. as of 2023.
62% of U.S. financial advisors are male, with females comprising 38% in 2023.
The average age of financial advisors in the U.S. is 59 years old in 2023.
45% of U.S. households with investable assets over $100,000 use a financial advisor in 2023.
Average AUM per RIA client household is $1.2 million in 2023.
41% of advisor clients are mass affluent ($100k-$1M assets) in 2023.
Average advisory fee revenue per client household: $12,500 in 2023.
Total industry revenue from advisory fees: $65 billion in 2023.
Average RIA firm revenue: $2.8 million in 2023.
35% of RIAs AI adoption for revenue enhancement.
72% of advisors now offer virtual meetings post-2023.
Robo-advisor hybrid models adopted by 40% of firms.

The financial advisory industry is experiencing strong global growth as assets and technology adoption rapidly expand.

Advisor Workforce

There are approximately 330,000 financial advisors in the U.S. as of 2023.
62% of U.S. financial advisors are male, with females comprising 38% in 2023.
The average age of financial advisors in the U.S. is 59 years old in 2023.
15,110 RIAs were registered with the SEC in 2023, with 96% state-registered smaller firms.
Over 100,000 advisors are affiliated with independent broker-dealers.
27% of financial advisors hold the CFP certification as of 2023.
The number of female financial advisors grew 12% to 45,000 in 2023.
Average years of experience for RIAs is 22 years in 2023.
42% of advisors plan to retire within the next decade as of 2023.
Hybrid advisors number 58,000, managing $2.5 trillion AUM in 2023.
91,000 advisors operate in wirehouse channels in 2023.
CFP professionals total 94,000 in the U.S. as of 2023.
75% of advisors are over 50 years old in 2023.
Independent advisors total 110,000 in the U.S. in 2023.
ChFC designees number 22,000 among advisors in 2023.
18% of advisors are under 40 years old in 2023.
RIAs employ 150,000 advisors directly in 2023.
55% of advisors work at firms with 1-5 employees in 2023.
CFA charterholders in advisory roles: 180,000 globally, 120,000 U.S. in 2023.
Advisors switching to independence: 8,200 in 2023.
Average advisor tenure at current firm: 11.5 years in 2023.
33% of advisors are dual-registered in 2023.
Number of new CFP certificants: 5,200 in 2023.
Advisors in employee channel: 140,000 in 2023.
65% of advisors have college degrees in finance-related fields.
Median salary for financial advisors: $99,580 in 2023.
28,500 new advisors entered the industry in 2023.

Advisor Workforce Interpretation

The industry is a seasoned, male-dominated field on the cusp of a massive retirement wave, yet it's being steadily rejuvenated by a growing influx of women and independent-minded advisors who are patiently building their own futures—just like they advise their clients to do.

Client Base and AUM

45% of U.S. households with investable assets over $100,000 use a financial advisor in 2023.
Average AUM per RIA client household is $1.2 million in 2023.
41% of advisor clients are mass affluent ($100k-$1M assets) in 2023.
High-net-worth clients (>$1M AUM) comprise 22% of advisor client base., source ultra-high-net-worth (>$5M) make up 12%.
Millennial clients (under 40) represent 15% of advisory AUM in 2023.
Average client age for financial advisors is 62 years in 2023.
68% of clients prefer fee-only advisory structures in 2023.
Total RIA client households: 48 million in 2023.
Women control 32% of U.S. advisory clients' assets in 2023.
55% of clients are baby boomers or older in 2023.
Average annual client retention rate for RIAs: 96% in 2023.
Gen X clients hold 28% of advisor AUM in 2023.
19 million HNW individuals worldwide use advisors in 2023.
Average assets per client for wirehouse advisors: $850,000 in 2023.
72% of clients value holistic financial planning services.
UHNW clients (>$30M) total 280,000 in U.S., 85% advised.
Client referrals account for 82% of new advisory clients.
37% of clients are self-directed but seek advice occasionally.
Average number of clients per advisor: 135 in 2023.
ESG-focused clients grew 20% to 15% of base in 2023.
Retirement accounts represent 52% of client AUM.
64% of clients under 50 prefer digital advisory tools.
Median client net worth: $1.5 million for RIAs.
25% of clients are non-white in 2023, up from 20% in 2020.
Tax planning is top priority for 78% of HNW clients.
Average AUM per independent advisor client: $950,000.
43% of advisor revenue from clients over $5M AUM.
Hybrid channel average client AUM: $1.1 million.
90% of clients expect annual reviews.

Client Base and AUM Interpretation

The financial advisory industry has perfected the art of serving an aging, wealthy core so successfully that it’s practically a retirement home for money, yet the future is knocking with digital tools, diverse clients, and ESG interests—if only it can attract more than just the grandchildren’s inheritance.

Financial Performance

Average advisory fee revenue per client household: $12,500 in 2023.
Total industry revenue from advisory fees: $65 billion in 2023.
Average RIA firm revenue: $2.8 million in 2023.
Profit margins for RIAs averaged 28% in 2023.
Median advisor compensation: $150,000 base plus bonuses in 2023.
Fee compression reduced average AUM fee to 0.95% in 2023.
Top 1% RIAs generate over $50 million revenue each.
Broker-dealer payout ratios averaged 48% for producing advisors.
RIA operating expenses rose 7% to 72% of revenue in 2023.
Average wirehouse advisor revenue: $650,000 in 2023.
55% of RIA revenue from asset-based fees in 2023.
Independent B/D advisor average revenue: $425,000.
Profit per advisor in RIAs: $1.2 million in 2023.
Hourly planning fee average: $325 in 2023.
Revenue growth for RIAs: 12.5% YoY in 2023.
22% of advisors earn over $500,000 annually.
Fixed retainer fees average $5,000-$10,000 per client.
EBITDA margins for top RIAs: 35% in 2023.
Commission revenue share fell to 15% industry-wide.
Average firm-level revenue per employee: $450,000.
Bonus as % of total comp: 25% for top producers.
AUM-based fee tiers: 1% on first $1M, 0.5% over $5M.
Tech spend as % of revenue: 8% for RIAs in 2023.
M&A deal value in advisory: $45 billion in 2023.
Average RIA valuation multiple: 2.8x revenue.
Compliance costs: 12% of operating expenses.
Hybrid advisor average revenue: $550,000.
68% of revenue growth from organic sources.
45% of advisors use tiered fee structures.

Financial Performance Interpretation

The wealth management industry's staggering profit margins, immense scale, and healthy compensation belie its constant lament over fee compression, proving there's still plenty of gold to be polished for those who can skillfully navigate the client's nest egg.

Industry Size and Growth

The U.S. financial advisory industry reached a total asset under management (AUM) of $128.4 trillion as of Q4 2023, marking a 13.2% year-over-year increase.
Global financial advisory assets are projected to grow from $102 trillion in 2022 to $145 trillion by 2025 at a CAGR of 9.1%.
The number of registered investment advisors (RIAs) in the U.S. increased to 15,396 in 2023, up 6.8% from 2022.
Fee-based assets in the advisory industry grew by 15% to $9.8 trillion in 2023.
The wealth management market size in North America was valued at $35.2 trillion in 2023.
U.S. advisory firms' discretionary AUM hit $77 trillion in 2023.
The financial planning software market for advisors is expected to reach $4.5 billion by 2028, growing at 12.3% CAGR.
Broker-dealer advisory AUM grew 11.4% to $6.8 trillion in 2022.
Independent RIAs control 40% of the total RIA AUM, amounting to $19.5 trillion in 2023.
The robo-advisory market worldwide was valued at $8.1 billion in 2023, projected to $25.8 billion by 2028.
U.S. RIA industry AUM surpassed $132 trillion as of mid-2024.
Hybrid RIA platforms saw AUM growth of 18% to $2.1 trillion in 2023.
The financial advisory services market in Asia-Pacific is expected to grow at 10.2% CAGR from 2023-2030.
Total U.S. advisor-sold assets reached $91 trillion in 2023.
Employee RIAs managed $15.2 trillion in AUM in 2023.
The global wealth advisory market is forecasted to hit $1.9 trillion in revenue by 2028.
U.S. financial advisor industry revenue totaled $58.5 billion in 2023.
Advisory AUM per advisor averaged $450 million in 2023 for top RIAs.
The number of U.S. households using financial advisors reached 42 million in 2023.
Digital advisory platforms' AUM grew 25% to $1.2 trillion in 2023.
U.S. wirehouse advisory AUM stood at $2.8 trillion in 2023.
The financial advisory market in Europe grew 8.5% to €25 trillion AUM in 2023.
Independent broker-dealer AUM increased 14% to $1.9 trillion in 2023.
Total global AUM for wealth managers hit $120 trillion in 2023.
U.S. RIA growth rate was 7.2% in number of firms from 2022-2023.
Advisory fees as a percentage of industry revenue rose to 45% in 2023.
The personal financial planning market size was $14.2 billion in 2023.
U.S. advisory industry employment grew 4.1% to 320,000 jobs in 2023.
Fee-only advisors' share of market rose to 28% in 2023.
Total RIA client accounts reached 125 million in 2023.

Industry Size and Growth Interpretation

It seems the entire financial advisory industry, from grizzled veterans to sleek algorithms, has been furiously climbing a mountain of money that grew to a staggering $128 trillion, proving that whether it's delivered by a human in a suit or a line of code, the urge to have someone else worry about your money is a very, very expensive habit.

Trends and Technology

35% of RIAs AI adoption for revenue enhancement.
72% of advisors now offer virtual meetings post-2023.
Robo-advisor hybrid models adopted by 40% of firms.
ESG investing integrated by 88% of advisors in 2023.
61% plan cybersecurity investments increase in 2024.
CRM software usage: 85% of RIAs in 2023.
52% of clients demand mobile app access.
AI chatbots implemented by 25% of large firms.
Regulatory tech (RegTech) spend up 30% in 2023.
67% of advisors use portfolio management software.
Cryptocurrency advice offered by 33% of advisors.
Cloud migration complete for 78% of RIAs.
Personalized video content used by 45% for engagement.
59% adopting goal-based planning tools.
Biometric security in 22% of client portals.
76% expect blockchain for settlements by 2025.
Data analytics platforms in 70% of firms.
41% using predictive analytics for retention.
Sustainable investing AUM share: 35% in 2023.
Voice assistants for planning: 12% adoption.
API integrations up 50% for custodians.
64% prioritize cybersecurity training.
NFTs/digital assets advised by 18%.
55% use automated rebalancing tools.
Open banking APIs adopted by 29%.
VR client meetings trialed by 8% of innovators.
73% digital onboarding post-pandemic.
Quantum computing pilots in 5% of large firms.

Trends and Technology Interpretation

The industry is furiously modernizing—from robots and AI whispering stock tips to holographic meetings—all while clinging to CRM systems for dear life and praying their new cybersecurity can fend off the hackers who just read this sentence.

Sources & References

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