Updated
Updated · The Daily Upside · Jul 16
Schwab Study Finds 97% RIA Client Retention as AI Adoption Reaches 83%
Updated
Updated · The Daily Upside · Jul 16

Schwab Study Finds 97% RIA Client Retention as AI Adoption Reaches 83%

3 articles · Updated · The Daily Upside · Jul 16

Summary

  • 97% of clients stayed with registered investment advisors over the past decade, while the median firm's assets under management climbed from just over $150 million in 2005 to $712 million in 2025, Schwab said.
  • 83% of RIAs now use AI, but only about one-third of senior leaders have set a formal integration vision, prompting Schwab to urge firms to treat AI as a firmwide operating tool rather than a meeting-notes add-on.
  • 87% more new clients and 127% more new client assets went to firms with a written marketing plan, a defined ideal client and a clear value proposition, underscoring how formal growth strategies can lift organic expansion.
  • Fewer than half of RIAs have a formal referral strategy even though Schwab called referrals one of the industry's biggest growth openings, with charitable giving and estate planning also among the fastest-growing added services.

Insights

Can AI solve the wealth industry's advisor shortage, or will data fragmentation cripple its potential before it is realized?
Why do most advisory firms withhold the equity paths needed to survive a looming talent crisis and secure their future?
As trillions are inherited, are advisors ignoring the strategies needed to keep the next generation of clients from firing them?