The Rise of Registered Investment Advisors (RIAs) in Wealth Management
In wealth management, the shift towards Registered Investment Advisors (RIAs) continues to gain momentum. Financial advisors are increasingly choosing to break away from traditional wirehouses and brokerage firms in favor of the independence, flexibility, and client-centric approach that RIAs offer.
According to a report by Cerulli Associates, the number of professionals opting for the RIA-only route has seen a significant increase in recent years, with no signs of slowing down. The firm projected that independent RIAs will experience a 4% compound annual growth rate through 2028, outpacing other channels in the industry.
The Diverse Landscape of RIAs
While the RIA label has become synonymous with excellence for many, not all firms operating under this model provide the same employee experience. Workplace cultures, benefits, leadership styles, communication practices, advancement opportunities, and even office locations can vary widely among RIAs.
For advisors looking to identify the best workplace fit within the RIA space, Financial Planning has partnered with Best Companies Group to create a comprehensive ranking of the top RIAs to work for in the United States.
This year’s list was compiled through a rigorous evaluation process that included surveys of financial professionals within these firms, assessing factors such as leadership, compensation, benefits, communication, training, workplace environment, engagement, and overall satisfaction. Researchers also analyzed each firm’s policies, practices, benefit structures, systems, and demographics to provide a holistic view of their operations.
Recognizing Excellence in the Workplace
To be eligible for inclusion in the ranking, firms had to be registered with the SEC, employ at least 10 U.S.-based staff members, maintain a physical presence in the United States, and have been in operation for at least one year. The final rankings were determined by combining scores from the employee survey with the results of the independent evaluation.
After careful consideration, 60 RIAs stood out as leaders in providing a supportive, valued, and inspiring workplace environment where employees feel motivated to excel each day.
For the full list of this year’s winners and to compare with last year’s rankings, please visit here.
