Investment Adviser Industry Snapshot 2026
Continued Growth in Demand for Adviser Services
The 2026 Investment Adviser Industry Snapshot reports that the industry has continued its strong growth trend, setting record highs for number of advisers, clients, employees, and assets under management in 2025.
The number of advisers rose to 16,544 in 2025, while the number of clients served by those advisers increased by 7.7% to 73.7 million. Reflecting strong market conditions, assets under management gained 22.3% from $144.6 trillion to $176.8 trillion, while non-clerical employment grew 7.5% to reach 1.1 million employees.
The 2026 Snapshot by the Numbers:
- 92.8% of advisers employed 100 or fewer employees
- 67.4% of advisers managed less than $1 billion in assets, and 87.3% managed less than $5 billion
- Advisers focused on individuals as clients were generally small, with an average of just 8 employees and $424 million in assets under management
Insights From This Year’s Report Include:
- The number of advisers, clients, and employees, as well as assets under management, reached record highs in 2025.
- The number of offices in private residences continued to rise even with the increase in “return to office.”
- Growth in the number of pension and profit-sharing plans significantly outpaced substantial growth in plan assets.
- Hedge funds had a particularly strong year with assets in hedge funds managed by SEC registered advisers gaining 18.5% in 2025.
- The average SEC registered adviser provided over 1,000 pieces of information in Form ADV Part 1A and related Schedule D.
The Investment Adviser Industry Snapshot is a joint effort of the IAA and Comply.
