In the U.S., investors are spoiled for choice with firms in which to invest their hard-earned money. There are all manners of wealth managers catering to investor needs, from large enterprise firms to small, intimate, independent financial firms. Business models have continued to emerge and evolve, and Datos Insights continues to monitor shifts within the industry across five key segments: wirehouses, self-clearing retail broker-dealers, clearing and custody firms, discount and online broker-dealers, and bank trusts.

Within these segments, this report analyzes changes to client and fee-based assets and examines major trends and the key drivers of change for each segment. It is based on public regulatory filings, investor presentations, news articles, and other publicly available information. It also incorporates insights gleaned from interviews with executives at wealth management firms throughout H2 2022 and H1 2023.

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

This report mentions Ameriprise, Apex Clearing, Appleton Partners, AXA Advisors, Barclays, BlackRock, Bloomberg, BNY Mellon, Cambridge Investment Research, Charles Schwab, Chase Investment Services, Citizens Bank, Commonwealth Financial Network, Dynasty Financial Partners, COR Clearing, Eaton Vance, Edward Jones, Envestnet, Equity Advisor Solutions, E-Trade, Fidelity, Fifth Third Securities, FNZ, Focus Financial Partners, Folio Institutional, Folio Investing, Goldman Sachs, Hightower Advisors, Hilliard Lyons, Hilltop Securities, Interactive Brokers, INTL FCStone, J.P. Morgan, LPL Financial, Mariner Wealth Advisors, Merrill Lynch, Morgan Stanley, National Advisors Trust, Northwestern Mutual, Northern Trust, Oppenheimer & Co., Orion Advisor Solutions, Oxford Financial Group, Pershing, Raymond James, RBC, Robert W. Baird, Robinhood, Shareholders Service Group, Shareworks, Shepherd Kaplan, State Street, Stifel Nicolaus, TD Ameritrade, Trade PMR, Truist, UBS, United Capital, U.S. Bank, Visa, Wealthfront, Wedbush Securities, and Wells Fargo.