RIA channel records biggest advisor gains as firm changes near decade high
Updated
Updated · Wealth Management · May 5
RIA channel records biggest advisor gains as firm changes near decade high
9 articles · Updated · Wealth Management · May 5
ISS Market Intelligence said 39,171 advisers switched firms in 2025, up 10.5% from 2024 and just below 2022's record 39,889.
Retail RIAs posted net gains of 2,573 advisers and independent broker-dealers 990, while insurance lost 1,888 and wirehouses 1,144.
ISS said technology and third-party platforms are accelerating a five-year shift toward independence, though the fragmented RIA market now includes nearly 35,000 firms with five or fewer representatives.
Is the great advisor migration to independence putting client assets and data at unprecedented risk?
As talent flees to independence, is the traditional Wall Street wealth model on the verge of collapse?