05.05.26

RIA Channel Saw Greatest Advisor Gains in 2025

by: Alex Ortolani

Financial advisor movement hit a near-decade high in 2025, with over 39,000 advisors switching firms, according to ISS Market Intelligence. The biggest beneficiary was the independent registered investment advisor (RIA) channel, which led net gains, followed by independent broker/dealers, while wirehouses and insurance firms saw the largest losses as advisors continued shifting toward more independent business models. The report highlights a long-running trend of fragmentation in wealth management, driven by technology and platform providers that make it easier for advisors to operate independently. Firms like LPL Financial and Raymond James led in net advisor gains, while RIA firms remain highly fragmented, with many small practices.

Read the full article on Wealth Management