For RIA Founders & Lead Advisors

The Practice Management Intelligence Hub

We benchmark enterprise valuation, operating margins, client acquisition costs, and technology stacks for independent wealth management firms.

Read the 2024 Valuation Guide Explore Financial Models

The Baseline: 2024 Industry Benchmarks

Average EBITDA Multiple 7.4x

For fee-only RIAs ($250M-$500M AUM).

Net Revenue Retention 98.2%

Median NRR, indicating strong stickiness despite market volatility.

Client Acquisition Cost $3,100

Fully loaded CAC for new HNW households.

The Era of the Generalist is Ending

The standard 1% AUM fee is under siege. While headline fees have remained sticky around 0.95% for a $1M account, the services required to justify that fee have expanded massively. Tax prep, estate planning, and behavioral coaching are now table stakes.

Firms that cannot institutionalize their operations, narrow their niche, and prove their value beyond asset allocation will face severe margin compression over the next decade.

Read the Fee Compression Report →
Core Thesis

Growth Through Systematization

  • Valuation: Shift focus from Top-Line to Adjusted EBITDA.
  • Acquisition: Transition from passive referrals to predictable CAC.
  • Operations: Ruthlessly audit the tech stack for API parity.
M&A Strategy

Practice Valuation & Succession

Navigating the most complex transaction of an advisor's career.

M&A Strategy

Financial Advisory Practice Valuation Guide (2024)

How to calculate the true enterprise value of your RIA or fee-based practice. EBITDA multiples, revenue multipliers, and common deduction traps.

 Transition Strategy

Internal vs. External Succession Planning

Evaluating the mechanics, tax implications, and timelines for selling internally to junior partners versus a third-party roll-up.
Interactive Model

Enterprise Valuation Calculator

Stop guessing. Calculate your true enterprise value based on current Adjusted EBITDA multiples and market data.

Run Valuation Model

Estimated Enterprise Value

$6,562,500
Organic Growth

Client Acquisition & Marketing

Moving beyond the hope of client referrals.

Growth Metrics

Calculating True Client Acquisition Cost (CAC) for Advisors

Stop relying on referrals. How to calculate and benchmark your CAC across digital marketing, seminars, and COI networks.
Growth

Building a Niche Advisory Practice

Moving from a generalist to a specialist. Case studies on practices focused on tech equity, physicians, and business owners.
Lead Generation

Structuring CPA Revenue Sharing Agreements

Legal structures, solicitor rules, and economic splits for partnering with accounting firms.
Operations

Tech Stack & Vendor Reviews

Operations

The Optimal RIA Technology Stack (2024)

Integration maps for CRM, Portfolio Accounting, Financial Planning, and Risk software. Avoiding vendor lock-in.

 Vendor Review

Evaluating Portfolio Management & Reporting Tools

Orion vs. Black Diamond vs. Tamarac. Feature parity, API access, and implementation costs.

 Vendor Review

Schwab vs. Fidelity vs. Pershing

Service levels post-TD Ameritrade merger, API integrations, and pricing for sub-$100M RIAs.
Financial Models

All Operational Calculators

Client Acquisition Cost (CAC) Estimator

Calculate true CAC including marketing spend and prorated BD salary.

Net Revenue Retention (NRR) Calculator

Calculate your firm's NRR, accounting for market drift, lost clients, and wallet share expansion.

Advisor Household Capacity Model

Determine how many households a single advisor can handle based on service tier frequency.

Blended AUM Fee Calculator

Calculate the effective blended fee rate across a tiered AUM schedule.

Staffing Ratio Benchmark

Evaluate if your firm is over or under-staffed compared to industry benchmarks.

CPA Solicitor ROI Modeler

Model the financial outcome of a CPA revenue-sharing agreement.

Technology Stack ROI Calculator

Calculate the return on investment for adopting new operational software.

Internal Succession Loan Calculator

Calculate monthly payments for an internal seller-financed buyout.

Pro-forma EBITDA Adjuster

Calculate true Adjusted EBITDA by adding back owner discretionary expenses.

AUM Attrition Risk by Age

Estimate AUM at risk of attrition due to wealth transfer in the next 10 years.

RIA Marketing Budget Allocator

Determine your marketing budget based on revenue and growth targets.

Building the Advisory Team

Hiring a lead advisor is expensive; training an associate is risky. The optimal compensation model balances a livable base salary with clear upside tied to firm growth and client retention.

Key Insight

Capacity Constraints

The average lead advisor maxes out at 75-100 high-net-worth households. Beyond this, service degrades or margins collapse due to overstaffing support roles.

Calculate Capacity
Regulatory

Compliance & Audits

The SEC's current examination priorities heavily emphasize off-channel communications and marketing rule compliance.

Surviving an SEC Mock Audit
Investment Strategy

Portfolio Construction

Master Your Practice Metrics

Explore our full suite of research, vendor intelligence, and financial models designed specifically for independent wealth managers.

View All Research