Starting your own firm has its benefits—and challenges. While independence offers flexibility and ownership, it also comes with the responsibility of building, tracking, and managing growth. Without a clear plan and defined success metrics, growth can become inconsistent or inefficient.
Growth isn’t just about increasing revenue or bringing on more clients, it also involves:
In 2023, organic growth produced strong performance for RIAs, with record-high new client assets, near-record contributions from existing clients, and client retention holding steady at 97%.[1]
Top-performing firms often had intentional, documented strategies that supported this growth:[2]
AUM—a primary driver of revenue and an indicator of client confidence—is essential for most RIAs. In 2024, the number of Advisers increased to 15,870, clients served by those Advisers increased by 6.8% to 68.4 million, and AUM gained 12.6% from $128.4 trillion to $144.6 trillion.[3]
When assessing your AUM, break the metric down into:
RIAs retain 86% of their clientele.[4] Be sure to track how many new clients you gain monthly or quarterly and how long they stay. Monitor both sources of new clients (e.g., referrals, digital, events) and attrition rate and reasons clients leave. Understanding these patterns can help you tailor your strategies to improve growth and loyalty.
Top sources of new client growth include:
For new RIAs, tracking revenue growth is essential to assess business health and to identify sustainable and scalable revenue streams. Measuring both total revenue and recurring revenue provides a clearer picture of your firm’s financial stability and growth potential.
Firms with more than 70% recurring revenue experienced 1.5 times faster growth rates than those relying primarily on transactional revenue models.[5]
To effectively track revenue growth, focus on:
Reviewing your profitability and efficiency metrics early can help you see beyond AUM or gross revenue to understand your true performance. It can also help reveal cost leaks, inform smarter business decisions, and can contribute to potential growth.
Do you know how much it costs to run your business? Tracking profitability helps you answer questions like:
Operating efficiency is just as important. In 2024, top-performing RIAs had operating margins above 25%, while new firms typically started below 10%.[6]
Tracking your operating efficiency can help you determine whether you’re using your time and tools effectively. Some questions to consider:
Monitoring these areas can help you fine-tune pricing, eliminate inefficiencies, and scale with intention. The goal isn’t just growth—it’s building a business that runs profitably and sustainably.
Sustainable growth depends on acquiring new clients—and maintaining strong relationships with your existing clients. Prioritizing satisfaction can help build trust, strengthen loyalty, and ultimately drive business growth.
Surveys, qualitative feedback during reviews, and tools like Net Promoter Score (NPS), which measure customer loyalty and satisfaction, can provide valuable insights into client needs, service quality, and opportunities for improvement.
Satisfied clients are a key driver of growth, with referrals accounting for 45% to 50% of new business—supported by a strong average NPS of 77, according to Dimensional’s 2023 Global Investor Study.[7]
Expanding your client base by targeting a specific market segment can help you differentiate your firm, attract new clients, and increase revenue streams.
Niche-focused RIAs saw faster revenue growth than non-niche firms, particularly during the scaling phase (75+ clients).[8]
Client experience is essential to building trust and lasting relationships. According to Forrester, companies with a strong customer experience strategy see 1.5x higher revenue growth than those without.[9]
Each interaction—from onboarding to ongoing communication—impacts client perception. A consistent, thoughtful approach can help enhance satisfaction and drive growth through retention and referrals.
A Turnkey Asset Management Platform (TAMP) provides flexibility, streamlined automation, and access to diverse investment options—which can help reduce administrative overhead. Using a TAMP to outsource portfolio management and leverage expert resources, means you can dedicate more time to growth-driving activities.
Symmetry’s Axiom Wealth Platform is an innovative, comprehensive TAMP designed to enhance your productivity and help increase operational efficiency.
Partnering with a TAMP like Axiom enables you to streamline investment management, scale operations, and implement key growth strategies—empowering you to stay independent with support, so you can focus on building client relationships instead of managing back-office functions.
Sustainable growth comes from deliberate action, smart measurement, and strategic focus. For new RIAs, tracking the right metrics and implementing thoughtful strategies early on can help create a foundation for long-term success.
Focus on measuring what matters, remain adaptable, and keep client experience at the core of your growth strategy.
Need some guidance? Connect with us to set up a discovery call. Want to learn more about our TAMP solution? Schedule a demo to find out how Axiom can help enhance your business.
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[1] Insights from the 2024 RIA Benchmarking Study, Charles Schwab, 2024, 2024-Charles-Schwab-RIA-Benchmarking-Study.pdf
[2] Insights from the 2024 RIA Benchmarking Study, Charles Schwab, 2024, 2024-Charles-Schwab-RIA-Benchmarking-Study.pdf
[3] Investment Advisor Industry Snapshot 2025, Investment Advisor Association, https://www.investmentadviser.org/industry-snapshots
[4] “Schwab Advisor Services Supported Independence Study,” May 2024, https://content.schwab.com/web/retail/public/about-schwab/schwab-supported-independence-report-2024.pdf
[5] The 2023 Fidelity RIA Benchmarking Study, Fidelity Investments, 2023, https://advitalize.ai/wp-content/uploads/2023/12/Advitalize-2023-Fidelity-RIA-Benchmarking-Study.pdf
[6] Insights from the 2024 RIA Benchmarking Study, Charles Schwab, 2024, 2024-Charles-Schwab-RIA-Benchmarking-Study.pdf
[7] “Client Referrals,” Dimensional Fund Advisors, 2025, https://www.dimensional.com/fi-en/insights/client-referrals
[8] White, L., “5 Top Growth Takeaways from XYPN's 2023 Annual Benchmarking Study,” XYPN, November 6, 2023, https://www.xyplanningnetwork.com/advisor-blog/5-top-growth-takeaways-from-xypns-2023-annual-benchmarking-study
[9] “Key Customer Experience (CX) Statistics You Need to Know in 2025,” Renascence, August 17, 2024, https://www.renascence.io/journal/key-customer-experience-cx-statistics-you-need-to-know-in-2025