Tools + Resources

Each year, we analyze advisor movement across the industry to better understand what’s really driving change and what it means for the decisions advisors are facing today.

This fourth edition of our annual Advisor Transition Report, based on 2025 data, offers a clear, objective look at the trends, behaviors, and strategic shifts influencing how advisors think about growth, control, and enterprise value. More importantly, it provides context for how those forces are likely to shape advisor movement – and the business of wealth management – throughout 2026.

Advisor movement reached a new high in 2025, with 11,172 experienced advisors (3+ years length of service) changing firms—a 16.2% increase over the prior year.

Against that astounding backdrop, this report is designed to answer the questions we hear from advisors every day:

• Which firms are having the most – and least – success recruiting and retaining advisor talent?
• Which business models are advisors finding most attractive today—and why?
• Why are advisors at both wirehouses and independent firms alike choosing to make a change?
• What is the current state of transition deals—and how are they evolving?
• What were the most influential and largest advisor transitions of the year?
• How are sunset and retire-in-place deals impacting retention and long-term optionality?
• What new firms, platforms, and models are gaining traction across the industry?
• What role will AI play in advisor movement and firm selection in the years ahead?
  
  

Like previous editions, this report is not intended to promote any one firm or model—but rather to serve as an objective resource to help advisors better understand the landscape and make more informed decisions.

Download your copy of the 2025 Advisor Transition Report to gain clarity on the trends shaping the industry and what they could mean for your business.

Complete the form on this page to access the full report.