The financial advisory landscape is shifting, with more clients and advisors gravitating toward RIAs. But what’s driving this trend? According to Thomas Carroll, CEO & President of Homrich Berg, the appeal lies in transparency, independence, and a client-first approach.

Why Clients Are Choosing RIAs

Fiduciary Commitment – Fee-only RIAs put clients first. They avoid conflicts of interest by eliminating commission-based incentives.
Comprehensive Wealth Management – Clients today demand holistic financial planning, from investments to estate and tax strategies, rather than just product recommendations.
Greater Transparency – A clear, fee-based structure ensures clients understand exactly what they’re paying for—and why.

Why Advisors Are Making the Switch

More Autonomy – RIAs give advisors the flexibility to offer truly customized solutions without corporate sales targets.
A Collaborative Culture – Advisors thrive in team-oriented environments where knowledge-sharing and innovation take priority over competition.
Stronger Client Relationships – With a fiduciary model, advisors can focus on long-term client success, free from the pressure of commission-based sales.

Conclusion

As clients become more financially savvy, they seek unbiased advice and personalized strategies—and advisors want to work in an environment that supports these priorities. RIAs offer the ideal solution, fostering trust, independence, and long-term success for both advisors and clients.

These insights are inspired by the latest episode of The Connected Advisor podcast featuring Thomas Carroll, CEO & President of Homrich Berg. Dive deeper into the importance of succession planning for RIAs. Listen to the full episode here and explore more articles in this series.