Advisor Recruiting and Industry Movements
The financial advisory field is experiencing dynamic shifts in 2025, with firms like LPL and Raymond James emerging as big winners in advisor recruiting. According to Wolfe Research, these firms are attracting experienced advisors, while others such as Bank of America and Osaic face the largest net declines.
Notably, private wealth duo managing $2 billion recently transitioned from Fifth Third to LPL, highlighting the ongoing competitive landscape for top talent. Similarly, multigenerational advisor teams from UBS have moved swiftly to RBC and Raymond James, signaling strategic moves within the industry.
Strategic Expansions and Integrations
Expansion continues as Mission Wealth strengthens its Texas presence through the acquisition of an Austin-based planning firm. Meanwhile, NorthRock Partners added an Ameriprise team, crossing the $11 billion assets under management (AUM) threshold. Elevation Point also bolstered its lineup by incorporating a Merrill Lynch team overseeing $900 million in assets.
In leadership developments, longtime Chicago-based investing leader Joel Hirsh has stepped into the Chief Investment Officer role after the Focus Partners Wealth integration. He will chair a global committee overseeing public, fixed income, and alternative strategies, underscoring the importance of experienced guidance in evolving market conditions.
Technology and Regulatory Developments
The rise of agentic artificial intelligence (AI) is drawing regulatory attention. FINRA has flagged the emergence of autonomous AI tools and is actively seeking feedback from member firms. The regulator emphasizes the need for governance frameworks as it continues to shape guidance around these emerging technologies, signaling a proactive approach to innovation and compliance.
Custodian Shifts and Platform Growth
Altruist is capitalizing on changes in Schwab’s RIA referral program, reporting nearly 5,700 advisors now using its platform. Many advisors are transitioning to Altruist following Schwab’s referral adjustments, illustrating how shifts in custodial relationships can impact advisor inflows and platform growth.
Market and Investment Insights
Alternative investments are increasingly defined by manager selection risks. Wilshire’s Mark Perry highlights widening performance gaps among alternative managers, leaving Registered Investment Advisors (RIAs) and investors with little margin for error in private markets.
Additionally, global currency dynamics are evolving. Investor concerns about yen jitters and shifting Federal Reserve expectations expose cracks in the U.S. dollar’s long-standing dominance. Political uncertainty and intervention risks are influencing these currency market fluctuations.
Retirement Planning and Asset Movement
Gen X investors show a do-it-yourself mindset, often confident yet lacking comprehensive retirement plans. This presents a significant opportunity for advisors to engage and provide tailored retirement solutions that fill existing gaps.
Furthermore, record household asset movement is reshaping where advisors can win or lose clients in 2026. With a trillion dollars in motion, the rollover opportunity demands renewed focus as advisors navigate this shifting landscape.
Practice Management and New Business Lines
Advisors are carefully weighing the risks and rewards of adding new lines of business. While new service offerings can increase client retention by keeping clients “sticky,” they also come with costs and time commitments that can challenge practice management.
Philanthropy and Charitable Giving
Donors using Schwab’s Donor Advised Fund (DAF) platform are boosting grantmaking, with 2025 grants approaching nearly $10 billion. More than 1.5 million grants are being made as donors deploy appreciated assets, exchange-traded funds (ETFs), and index funds toward charitable giving, reflecting growing philanthropic engagement.
Insurance Market Volatility
Insurance companies are experiencing significant stock price declines following a new proposal from the Trump administration. The sector has lost tens of billions of dollars in market value, signaling heightened volatility and uncertainty within this segment of the financial industry.