The RIA industry is evolving rapidly, and advisors who adapt to these will thrive. Mark Weiskind identifies several key trends shaping the future, from consolidation to technology integration to changing client expectations.

Consolidation is a major theme in RIA industry trends. Larger firms are acquiring smaller practices, creating massive enterprises with more resources. But Mark believes there’s still room for boutique firms to succeed. “Smaller firms can differentiate themselves by offering personalized, high-touch service that larger firms can’t replicate,” he says.

Technology is another game-changer. From AI-driven analytics to streamlined client portals, tech is transforming how advisors operate. However, Mark cautions that technology should enhance, not replace, the advisor-client relationship. “Clients will always value the human connection,” he explains, adding context to these evolving trends within the RIA industry.

Client expectations are also shifting. Today’s clients demand transparency, customization, and comprehensive services. Advisors who meet these expectations will stand out in a competitive landscape shaped by important trends in the RIA industry.

Mark sees these trends as opportunities. By staying agile, embracing technology, and focusing on relationships, RIAs can navigate the changing industry while maintaining their competitive edge amidst these industry shifts.

These insights are inspired by the latest episode of The Connected Advisor podcast featuring Mark Weiskind, Founding Partner at Fairway Wealth Management. Dive deeper into these RIA industry trends. Listen to the full episode here and explore more articles in this series.