Business Transformation | 10.30.26

Enterprise RIAs Need More Than Scale To Compete

by: Leo Almazora

Enterprise registered investment advisors (RIAs) now control 58% of RIA channel assets, up 18 percentage points since 2020, according to Cerulli Associates. However, scale alone will not ensure competitiveness as consolidation reduces traditional differentiators. Large firms are expanding into tax planning, estate services, family office management and institutional consulting to attract affluent clients. Operational challenges persist, with advisors spending significant time on administration and investment management. Although 79% of RIAs use AI, adoption for financial planning remains limited. Centralized business development is gaining importance as firms pursue organic growth. Meanwhile, mergers and acquisitions continue accelerating, driven by consolidation and succession planning needs.

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