RIA Leaders Push Prospecting Teams to Drive $25 Billion Growth as 26,000 Advisors Near Retirement
Updated
Updated · Wealth Management · Jun 10
RIA Leaders Push Prospecting Teams to Drive $25 Billion Growth as 26,000 Advisors Near Retirement
3 articles · Updated · Wealth Management · Jun 10
Summary
$13 billion Modern Wealth and $25 billion Merit told the Wealth Management EDGE conference that centralized prospecting teams—not advisors—are driving organic asset growth by qualifying leads and booking meetings.
Gary Roth said many RIAs show “literally no growth,” making dedicated growth hubs and concierges critical; Modern Wealth credits hubs in Kansas City and Phoenix with helping build the firm since its 2023 launch.
$4 billion Bogart Wealth said it grew entirely organically, from $526 million in 2016, by targeting niche client verticals and building subject-matter expertise before later adding a business development team.
26,000 advisor retirements over the next decade will be the biggest driver of sector M&A, Cerulli said, while 54% of RIAs are at least evaluating an exit strategy.
Merit said advisor movement after LPL Financial’s acquisition of Commonwealth accelerated its deal pace, compressing expected 2026 M&A into roughly half the planned time; LPL had reported mid-80% asset retention on Commonwealth’s $285 billion base.