This report reviews the 2023 performance of the U.S. wealth management industry across five industry segments: the wirehouses, self-clearing retail broker-dealers, clearing and custody firms, discount and online broker-dealers, and bank trust divisions. The report examines the results and strategies among the top competitors in each segment and provides insight into how the industry is evolving.

This report represents the 2024 edition of Datos Insights’ annual series, New Realities in Wealth Management, which was launched in 2009. It is intended to serve as a quantitative summary of the current state of the U.S. wealth market. The report is based on Datos Insights’ analysis of annual reports and filings with securities regulators as well as previously nonpublic information that was shared with Datos Insights. The estimates in the report were developed by analyzing trends within each industry segment and trends at similar competitors or groups of competitors.

Clients of Datos Insights’ Wealth Management service can download this report.

This report mentions Altruist, Ameriprise, Apex Clearing, Axos Advisor Services, Baird, Bank of America, Bessemer Trust, BMO, BNY Pershing, BNY Wealth, Charles Schwab, Chase Investment Services, Citibank, E-Trade, Edward Jones, Equity Advisor Solutions, Fidelity, First Clearing, FNZ, Goldman Sachs, Hilltop Securities, Interactive Brokers, JPMorgan Chase, LPL Financial, Merrill Edge, Merrill Lynch, Morgan Stanley, National Advisors Trust, Northern Trust, Oppenheimer & Co., PNC Bank, Raymond James, RBC Wealth Management, Robinhood, SEI, Stifel Nicolaus, Stone X, Trade PMR, UBS, U.S. Bank, Webush Securities, and Wells Fargo.