Financial Planners & Investment Advisers Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 4/1/2024
SIC Codes: 6282
NAICS Codes: 52394
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Financial Planners & Investment Advisers Industry Profile

Companies in this industry provide customized investment advice and financial planning services. Major companies include US-based Ameriprise Financial and AXA, and units of diversified financial services companies such as Morgan Stanley, as well as AMP Limited (Australia) and IGM Financial (Canada).

The value of assets under management (AuM) worldwide, an indicator of demand for financial planning and investment advice services, is about $110 trillion in 2021, according to Statista. Global AuM is forecast to exceed $145 trillion by 2025, a growth rate of 6.2% per year, with stronger performances in Latin America and Asia/Pacific, according to PricewaterhouseCoopers (PwC).

The US industry includes about 20,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $40 billion.


Aging populations, the shift to defined contribution retirement savings plans, and frothy markets in recent years are fueling growth of assets under management and demand for investment advice. Competing with independent financial planners and investment advisers for clients are Wall Street brokerage firms switching from a sales business model to a fee-for-service business model on retirement accounts, as well as CPAs with Certified Financial Planner designations. The proliferation of free online tools (sometimes called robo advisers) is proving popular among cost-conscious investors. As investors become more comfortable with digital financial advice, some providers of digital advice in the financial planning profession in the US are predicted to manage $5 trillion ...

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