A missed opportunity for RIAs?

Federated Hermes’ 2025 RIA and Independent Advisor Study suggests many advisors may be overlooking growth opportunities by concentrating on traditional high‑net‑worth and mass‑affluent segments while under-serving workplace retirement plans. This gap is notable given strong employee demand for guidance in 401(k) and 403(b) plans, particularly among younger generations.

The study also highlights a “trust premium,” where advisors rely heavily on centers of influence and referrals, yet often underinvest in strategic partnerships and structured marketing efforts. Despite most firms already offering add‑on services like tax and insurance planning that could appeal to new client types, few have dedicated marketing staff or clear strategies to reach them.

Advisors who expand into workplace retirement channels and modernize their marketing approach may be well positioned to drive both revenue growth and deeper client relationships.