2023 Independent Advisor Outlook Study
This year's study found that growth makes many aspects of running a firm easier, but not everything.
Key findings
- Enabled by technology and driven by continued client demand for the independent model, growth brings choices, complexity, and challenges to RIA firms.
- Advisors acknowledge the potential benefits of the wealth of data at their fingertips – but harnessing it remains a challenge.
- Finding the balance between scale and high-touch personalized client service is a challenge almost every RIA will wrestle with in the coming years – but it is not insurmountable.
- For firm differentiation and growth, advisors’ time must be front and center as the value-creator for client relationships.
About the study
The Independent Advisor Outlook Study (IAOS) is conducted for Charles Schwab by Logica Research. Logica Research is neither affiliated with, nor employed by, Charles Schwab & Co., Inc.
The survey, conducted from December 1 through December 15, 2022, polled 862 independent investment advisors who custody assets with Schwab Advisor Services, representing a total of $359 billion in assets under management (AUM). Participation was voluntary, participants were not incentivized, and the typical (median) survey length was 15 minutes.
Media Contact: Kelly Cook
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