The February 2023 Aite-Novarica Group report examines how wealth practices are evolving toward holistic financial planning to strengthen client relationships and improve business outcomes. Holistic advisors tend to gain more clients, assets, wallet share, and revenue, avoiding price wars. While insurance and bank broker-dealers have made progress, many still lag in adopting holistic models and plan to modernize platforms and reporting. Most advisors rely on affiliates or third parties for niche services like college savings, healthcare planning, and risk protection. Service offerings vary by channel, with gaps in trust, fiduciary, ESG, and nontraditional services among certain advisor groups.

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