SURVEY DATE AND POPULATION
Conducted between April 24 and May 21, 2025, the 2025 RIA Benchmarking Survey was our biggest yet, a 15% higher response rate than in 2024. RCS continues to experience high velocity growth and client engagement. Over half of RIAs who choose Raymond James for custody services contributed to this annual report. We added several new questions and response choices to the survey for 2025. Those questions and responses are denoted with asterisks.
2025 State of the RIA
Each year, Raymond James RIA & Custody Services (RCS) surveys principals across our registered investment adviser (RIA) community to better understand the evolving landscape of RIA practices and priorities. Your insight helps us align our efforts with what matters most to you – which ensures that our support remains relevant, responsive and forward-looking.
Recognizing the power of shared perspectives in driving strategic focus, we’re excited to report select insights from the latest findings with you. We hope you will gain perspective on emerging trends, shifting priorities and find opportunities to refine your approach toward growth and service.
OUR BOTTOM LINE
We conduct this survey annually to hear directly from you – our RIA clients – about your experiences, challenges and expectations, and each year brings new lessons. While we maintain a high degree of satisfaction, with 86% of RIA principals reporting a positive experience with RCS and our service teams in 2025, this research helps us keep up with your changing needs.
Thank you for your trust and partnership. We remain dedicated to evolving alongside you, delivering the tools, insights and service you need to thrive in a dynamic and innovative industry. Your goals continue to guide our work because we’re here to help you achieve them.
Key findings for 2025
SERVING THE SOPHISTICATED CLIENT
Business owners continue to be a highly prioritized client segment, with 86% of respondents actively serving their needs. Additionally, nearly one-quarter of firms offer family office services – either in-house or through strategic partnerships – while another 22% express interest in expanding into this space.
CLIENT- DRIVEN GROWTH
Respondents increasingly rely on referrals to drive client acquisition, listing organic business development and growth as their second-highest strategic priority. Over 80% of firms identify referrals as their top growth driver. At the same time, growth remains their number one challenge.
EVOLVING SERVICE AND STAFFING
With client service as the top priority, RIA firms are actively reshaping their structures to better meet evolving expectations. Two thirds of RIAs surveyed plan to hire a financial advisor or relationship manager and 38% plan to add a client service associate in the upcoming year.