Autonomy, flexibility, higher earning potential, and the ability to prioritize the client experience—these are some of the reasons Advisors have been choosing to become independent Registered Investment Advisors (RIAs).

Without firm restrictions, RIAs can act more nimbly and offer customized strategies to meet individual’s needs. Independence also helps eliminate conflicts of interest and prioritizes clients’ best interests.

Going independent isn’t just good for Advisors—it’s seen as a value-add for clients too. Nearly three-quarters (74%) of recently independent Advisors say they can build better, longer-term relationships with their clients, and close to half (49%) of considering Advisors believe they will be able to do the same if they become an RIA.^[1]

However, with opportunities, there are challenges.

Technology: Adapting to the Digital Future

While technology and staying up to date were cited by 35% of Advisors as a top challenge to becoming independent, 33% of recently independent Advisors noted the ability to leverage more cutting-edge technology as the biggest opportunity in becoming an RIA.^[2]

Advancements in technology are helping Advisors expand their services by boosting efficiency and streamlining operations. By embracing automation, Advisors can free up time to deliver more personalized client experiences—balancing innovation with human connection.

Partnering with a Turnkey Asset Management Provider (TAMP) like Symmetry’s Axiom Wealth Platform provides RIAs with access to an integrated tech stack, including:

• Customer Relationship Management (CRM)
• customizable reports
• research
• risk analytics
• workflows

By streamlining operations and automating administrative tasks, Axiom can help Advisors scale efficiently, enhance client service, and access expert insights to help drive growth.

Investors’ Evolving Needs: Shifting Demographics and Expectations

Investors’ demographic makeup is rapidly changing, with more Millennials and Generation Z beginning to inherit wealth and enter the market. Over the next 20 years, $84 trillion is expected to be reallocated in the “great wealth transfer,” which involves wealth being transferred from Baby Boomers to Generation X, Millennials, and Generation Z.^[3]

These new investors will have different priorities and expectations. In 2030, up to 80% of new wealth management clients will expect financial advice in a data-driven, hyper-personalized, continuous model, potentially offered through a subscription.^[4]

Newer investors will also demand more personalized services and transparency in how their money is being managed, expecting clear insights about fees, investment strategies, and performance.

For Advisors, the challenge will be meeting the needs of traditional and new investors—catering to older, traditional clients’ preferences with things like in-person meetings and more conservative investments while embracing technology to meet younger clients’ needs.

Margin Pressure: Rising Costs and Expectations

While RIAs are expected to provide more comprehensive services (e.g., complex financial planning and real-time investment insights) their fees haven’t adjusted accordingly.

Advisors are also encountering increasing margin pressure as clients expect more value at unchanged fee levels. At the same time, operational costs—providing personalized solutions, investing in technology infrastructure, maintaining regulatory compliance—continue to rise.

To address these pressures, many RIAs are leveraging technology and automation to improve efficiency. Partnering with a TAMP can help firms streamline operations, manage costs, and sustain profitability—without compromising on client experience.

The Solution: Helping Advisors Stay Ahead of Change

Symmetry can help RIAs navigate change through education, technology, and a focus on long-term, sustainable growth. Our support, guidance, and resources can help Advisors grow their businesses while adapting to new challenges and innovations.

Interested in learning more about future-proofing your advisory firm? Our Regional Team can help. Connect with us to schedule a discovery call. For more information about how Axiom can help enhance your business visit advisoraxiom.com or schedule a demo.

[1] Schwab Advisor Services Supported Independence Study, Charles Schwab, 2024, https://content.schwab.com/web/retail/public/about-schwab/schwab-supported-independence-report-2024.pdf

[2] Schwab Advisor Services Supported Independence Study, Charles Schwab, 2024, https://content.schwab.com/web/retail/public/about-schwab/schwab-supported-independence-report-2024.pdf

[3] Bryant, S. “The Future of Financial Advisory Services: What to Expect in 2025,” Nasdaq, September 7, 2024, https://www.nasdaq.com/articles/future-finan        cial-advisory-services-what-expect-2025

[4] “On the Cusp of Change: North American Wealth Management in 2030,” McKinsey & Company, 2020, https://www.mckinsey.com/~/media/mckinsey/industries/financial%20services/banking%20blog/on%20the%20cusp%20of%20change%20north%20american%20wealth%20management%20in%202030/on-the-cusp-of-change-north-american-wealth_management-in-2030.ashx

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