Financial Planning turned to Moneta CEO Eric Kittner as one of the key voices and thought leaders for a story about RIA industry trends heading into 2022.

Kittner provided insight on the flow of advisors leaving brokerage houses to become fiduciary RIAs, as well as the continued consolidation among RIA firms forming bigger companies.

Going Independent

“The momentum away from the wirehouses will continue. While there is still a massive amount of assets sitting in brokerage accounts, the going-independent and M&A deals of the last five years show that the move from brokerages to RIAs is picking up,” Kittner said, referencing a trend for both clients’ money and advisors themselves. “The RIA is the model that’s winning.”

Consolidation

“I think we’ll have 10 to 20 really large firms on a national basis,” Kittner said. He expects an acceleration of $500 million to $1 billion RIAs joining consolidators, as well as giant firms merging: “I wouldn’t be surprised to see a metafirm join a metafirm,” he said, citing the San Francisco investment bank DeVoe’s term for the biggest RIAs.

To read the full Financial Planning story, click here.

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