07.30.26

The AUM of RIAs Is Soaring. But What About New Clients?

by: Tobias Salinger

Registered investment advisors (RIAs) continue to see strong asset growth, but many are struggling to attract new clients organically. According to Paithos Research, the median U.S. Securities and Exchange Commission-registered RIA increased assets under management by 15% between 2025 and 2026 while adding just one new client, reflecting a 2% increase. Much of the asset growth likely stemmed from market performance rather than new business. Larger firms continue to dominate, with RIAs managing more than $100 billion controlling 72% of industry assets, and those over $1 billion overseeing nearly 98%. Bigger firms also attract clients more effectively through greater marketing resources and acquisitions. Still, the report highlights significant variation, with about 20% of RIAs achieving client growth of at least 15%. Industry experts believe AI and affordable marketing technologies could help smaller firms compete more effectively for organic growth in the future. 

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