2021 Independent Advisor Outlook Study
Schwab Advisor Services’ current Independent Advisor Outlook Study (IAOS) provides a snapshot on the outlook for industry and firm growth, a look into the new realities for firms post-COVID, and insight into how advisors view innovation.
Key findings
- Advisors are more bullish on the industry’s prospects for growth compared to August 2020. In fact, almost half of firms surveyed (47%) said they expect the RIA channel to grow at a faster rate than the market, up from 33% in August of last year.
- Half of independent advisory firms (50%) added more clients in 2020 than in previous years despite the challenges presented during the global pandemic.
- Six out of 10 firms (59%) view the technology industry as the primary driver of innovation in the RIA industry today, and 65% believe that continued innovation will come equally from within the RIA industry as well as by adopting innovations from other industries.
About the survey
The Independent Advisor Outlook Study (IAOS) is an online study conducted for Charles Schwab by Logica Research. Logica Research is neither affiliated with, nor employed by, Charles Schwab & Co., Inc.
The survey responses come from 953 independent investment advisors who custody assets with Schwab or TD Ameritrade Institutional, representing a total of $400B in assets under management (AUM). The survey has a three percent margin of error at the 95% confidence level. Participation is voluntary, participants are not incentivized, and the typical (median) survey length was 11 minutes. The study was conducted from April 13 through April 26, 2021.
Media Contact: Meredith Richard
More Independent Advisor Outlook Studies
Discover related stories
Research
RIAs need to offer more than pay to win talent
Industry
Invested Together: Reflections on IMPACT 2024
Industry
Incoming Schwab CEO sees room to expand advisor business
Schwab Advisor ServicesTM serves independent investment advisors and includes the custody, trading and support services of Schwab. Independent investment advisors are not owned by, affiliated with, or supervised by Schwab. © 2021 Charles Schwab & Co., Inc. ("Schwab") All rights reserved. Member SIPC.