The December 2022 Aite-Novarica Group report shows U.S. wealth managers’ client assets grew 17% to $42.5 trillion in 2021, with a 10-year CAGR of 13.7%. Market share across wirehouses, independent channels, bank trusts, and online brokers remained stable, though independents and wirehouses saw key growth. Leading firms either focus on per-advisor productivity or build strong end-to-end advisor experiences. Strategies include offering omnichannel services, expanding holistic advice to cover lending, alternatives, and insurance, and scaling through workplace solutions, trust services, and RIA support to deepen client relationships and capture more assets.

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