Navigating Pathways to Holistic Wealth Management

Report Summary

Navigating Pathways to Holistic Wealth Management

Progress toward consistent delivery of holistic wealth management is demonstrably mixed.


Wally Okby
Strategic Advisor
David Himmel
Senior Associate

February 15, 2023 – The wealth management industry continues to evolve from investment management, performance alpha, and retirement services to broader, holistic management of an individual’s entire investment portfolio and balance sheet. This is a major item on the to-do list for organizations and one many years from completion for the vast majority of insurance broker-dealers and bank-affiliated wealth firms. The industry is making notable inroads and developing capabilities to do just that, but advisors that work day-to-day with individual private clients are ultimately responsible for ensuring they are delivered.

This Impact Report analyzes the main drivers and dynamics in play that are transforming traditional wealth practices into agile, holistically oriented financial planning organizations. This report leverages data from a survey of 483 FAs conducted during Q4 2021 across wirehouse, bank BD, insurance BD, national and regional BD, and independent RIA (including hybrids) channels. In addition to crosstabs of the survey data, Aite-Novarica Group also leverages one of its Intelligent Financial Life Advisor Practice score variables to evaluate how delivering holistic advice impacts an advisor’s business.

Clients of Aite-Novarica Group’s Wealth Management service can download this report and the corresponding charts.

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