07.18.25

RIAs Nail Client Retention, but Schwab Warns of Talent Shortage

by: Andrew Cohen

Charles Schwab’s latest RIA Benchmarking Study of some 1,300 registered investment advisors (RIAs) with a combined $2.4 trillion in assets found that client retention remained at 97% for participating firms over the past decade. The study estimated that the median RIA will need to make four new hires over the next five years, which based on current growth rates means the industry will need to add over 70,000 new staff over that period. The estimate does not account for retirements or newly launched RIAs.

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