In this edition, we examine multi-year results for key performance metrics in the North American retail wealth management industry. The following trends are highlighted in this report:
- continued growth in both advisor assets and advisor revenue, though largely driven by market appreciation
- steady progress toward a fee-based business model, but continuing pressure on fees
- increase in equity transactional volume and pricing compared to the previous year
- continuation of the trend toward fewer, but larger clients
- a greater number of high net worth households in advisors’ books, largely due to appreciation in the market
- lower client retention rates than the previous year
- a client base aging faster than the general population