Report

New Realities in Wealth Management: Growth Amplifies Prior to the Storm

Aite Group estimates total client assets to have reached US$29.1 trillion at the end of Q3 2020, up 3% from 2019.
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Boston, December 16, 2020 – In 2019, many changes occurred in the U.S. wealth management industry across all four segments: wirehouses, self-clearing retail brokers, clearing and custody, and discount and online brokers. Both the self-clearing retail brokerages, and discount and online brokerages segments gained market share in 2019. Commission revenue continued to decline. Fee-based assets as a percentage of total U.S. client assets increased from 2018 to 2019. Further, despite the COVID-19 crisis, U.S. wealth management firms have performed well during the first three quarters of 2020.

This report—an addition to the New Realities in Wealth Management series—looks at changes that occurred in 2019, considers a historical view, sizes the market in various ways, and projects channel market share over the next four years. It leverages publicly available information and Aite Group estimates and analysis.

This 51-page Impact Report contains 38 figures and four tables. Clients of Aite Wealth Management service can download this report, the corresponding charts, and the Executive Impact Deck.

This report mentions 55ip, Ameriprise, Apex Clearing, Appleton Partners, AXA Advisors, Barclays, BlackRock, Bloomberg, Cambridge Investment Research, Charles Schwab, Chase Investment Services, Commonwealth Financial Network, COR Clearing, Echelon Partners, Edward Jones, Equity Advisor Solutions, E-Trade, Fidelity, Fifth Third Securities, Folio Institutional, Focus Financial Partners, Folio Investing, Goldman Sachs, Hilliard Lyons, Hilltop Securities, Interactive Brokers, INTL FCStone, J.P. Morgan, LPL Financial, Merrill Lynch, MetLife, Morgan Stanley, Northwestern Mutual, Oppenheimer & Co., Oxford Financial Group, Pershing, Raymond James, RBC, Robert W. Baird, Shareholders Service Group, Shepherd Kaplan, State Street, Stifel Nicolaus, TD Ameritrade, Trade PMR, UBS, United Capital, US Bank, Wedbush Securities, and Wells Fargo.

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