5 Growth Strategies for RIAs

The Registered Investment Advisor (RIA) space is poised for growth. The number of independent RIA firms has grown at a compound annual growth rate (CAGR) of 2.4% over the last decade, while the number of Advisors operating at independent RIAs has grown at a CAGR of 5.2% over the same period. The channels are projected to control nearly one-third (31.2%) of intermediary asset market share by 2027.[1]

Growth Opportunities

For RIAs, growth goes beyond assets under management (AUM) and focuses on clients, services, and operational growth.

As more RIAs continue to hang their shingle, what are some effective ways to maintain and grow your business? Here are five strategies.

1. Client Niche Focus

Expanding your client base by building referrals, targeting new markets, and specializing in a specific market segment can help attract new clients and increase revenue streams.

Consider:

• business owners
• retirees
• high-net-worth (HNW) individuals

For example, Symmetry’s team can create tailored, retirement plans and comprehensive investment solutions, like Tax Alpha for your clients and prospects.

And, if you’re targeting the affluent, note that these clients typically pay higher fees for solutions to complex issues. More than half (55%) of Advisors serving clients with $3 million or more in assets use outsourced support, compared to 41% of those serving clients with $1 million or less.[2]

2. Technology Integration

One-third of an Advisor’s day is spent on low-impact tasks—and 45% believe they can use technology to reclaim time.[3]

Leveraging the right technology can help:

• reduce costs
• streamline operations
• improve efficiency
• enhance investment management
• elevate the client experience
• free up resources for growth

However, more than one-third (36%) of Advisors considering independent work cite taking on greater technology responsibility as a major concern.[4]

With the Axiom Wealth Platform, Advisors can access back-end support to help streamline operations and scalable technology that evolves with your practice.

3. Expanding Client Offerings

As clients seek more comprehensive financial solutions, offering services beyond traditional investment management—such as financial planning, tax advice, estate planning, or retirement planning—can potentially increase client retention and attract new prospects.

By positioning yourself as a comprehensive financial planner, you can deepen client relationships and capture more of your clients’ total financial picture—creating more opportunities for cross-selling.

Expanding your service offerings with specialized services like socially responsible investing (SRI) and customized portfolio strategies can differentiate you and can create a unique value proposition. With this flexibility, you can also more easily adapt to changes in market conditions and regulatory environments, offering a more resilient business model.

Consider this: Among HNW clients, 27% switched Advisors for access to different products and services, with many expressing interest in “wealth management adjacent” services like tax planning and trust and estate planning from their primary Advisor.[5]

And by 2025, it’s projected that 75% of Financial Advisors will adopt a holistic approach, offering services beyond investments, including tax planning, estate planning, and healthcare cost management.[6]

4. Marketing

When strategically implemented, marketing can help you attract new clients and increase brand visibility.

Creating valuable content—such as a modern and professional website, educational blogs, webinars, or personalized financial insights—can build credibility and trust with prospects.

Digital marketing tools like social media and email campaigns can be used to nurture relationships and stay connected with prospects and clients. With every type of content, be sure to include a call to action (CTA), such as directing readers to an online contact form.

Effective marketing also helps you reach new client segments and markets. With data-driven strategies, you can target specific demographics like retirees or HNW individuals using client testimonials and case studies to help establish your credibility.

Studies show that an integrated marketing plan that includes all activities that reach prospects and clients is crucial for growth.[7] Axiom provides you with access to marketing specialists who will work with you to create a comprehensive brand and marketing strategy—and provide support with resources including a personalized Strategy Canvas and Growth Plan.

5. Partnership and Collaboration

Forming partnerships with professionals like accountants, attorneys, or insurance agents can help you expand your service offerings and provide a more comprehensive suite of wealth management services, while potentially accessing new client bases.

With these type of partnerships, you can offer specialized expertise—such as estate planning or tax optimization—your clients may not have access to otherwise, providing you with a unique differentiator.

Collaborating to create joint events, webinars, or seminars with partners can also help raise your firm’s profile, creating cross-promotional opportunities.

The Opportunity Is Yours

For RIAs, achieving long-term success hinges on sustainable growth—requiring more than just increasing your AUM. Expanding into niche markets, adopting technology to improve efficiency, and diversifying services are key strategies that can help scale operations and meet client demands.

Building a strong marketing strategy and forming strategic partnerships with other professionals can help expand your reach, attract new clients, and foster deeper client-advisor relationships.

Ready to grow your firm? Symmetry has tools and strategies to align with your goals and help you achieve long-term growth.

To learn more, visit symmetrypartners.com/contact-us or give us a call at 800-786-3309. Interested in learning about Axiom? Schedule a demo to find out how the solution can help enhance your business.

Symmetry Partners, LLC is an investment advisory firm registered with the Securities and Exchange Commission (SEC). The firm only transacts business in states where it is properly registered or excluded or exempted from registration requirements. Registration with the SEC or any state securities authority does not imply a certain level of skill or training. No one should assume that future performance of any specific investment, investment strategy, product or non-investment-related content made reference to directly or indirectly in this material will be profitable. All data is from sources believed to be reliable but cannot be guaranteed or warranted. 

Symmetry provides this communication on this site as a matter of general information. Information contained herein, including data or statistics quoted, is from sources believed to be reliable but cannot be guaranteed or warranted. Due to various factors, including changing market conditions and/or applicable laws, the content may not be reflective of current opinions or positions. All content on this site is for educational purposes and should not be considered investment advice, recommendation, or offer of any security for sale.

[1] “Independent and Hybrid RIA Channels Lead in Advisor Headcount Growth,” Cerulli Associates, October 30, 2023, https://www.cerulli.com/press-releases/independent-and-hybrid-ria-channels-lead-in-advisor-headcount-growth

[2] How Financial Planners Actually Do Financial Planning (2022), The Kitces Report, Volume 2, 2022, https://www.kitces.com/wp-content/uploads/2023/02/The-Kitces-Report-FP-Process-How-Financial-Planners-Actually-Do-Financial-Planning-Vol-2-2022.pdf

[3] Orion Advisor Wealthtech Survey, March 2024

[4] The Cerulli Edge, U.S. Advisor Editon, The Advisor Affiliation Issue, Cerulli Associates, 2024

[5] High-Net-Worth Investor Survey, PwC, https://www.pwc.com/us/en/industries/financial-services/asset-wealth-management/high-net-worth-investor.html

[6] “30+ Financial Advisor Statistics,” Bizplanr, February 11, 2025, https://bizplanr.ai/blog/financial-advisor-statistics

[7] “Insights from the 2024 RIA Benchmarking Study,” Charles Schwab, 2024, https://content.schwab.com/web/retail/public/about-schwab/2024-Charles-Schwab-RIA-Benchmarking-Study.pdf