For RIAs
Tax Planning
Competitive Differentiation
June 2, 2026
Why differentiation has become urgent
The structural forces reshaping the advisory industry are not temporary. They are compounding. Advisors who do not find a way to stand apart on value beyond portfolio management will face growing pressure on fees, loyalty, and referrals.
What the market data shows
- Fee compression is accelerating. Average AUM-based advisory fees have declined steadily since 2018 and continue to fall as competition from digital platforms intensifies. (Cerulli Associates, U.S. RIA Marketplace Report)
- Clients are actively asking for tax help. 69% of affluent investors say it is important that their provider helps them reduce their tax bill, and nearly half of advisors still do not offer structured tax planning services. (Cerulli Associates, Customized at Scale, 2025)
- Holistic planning drives retention. Advisors who offer comprehensive planning services, including tax coordination, retain clients at meaningfully higher rates than investment-only advisors. (Kitces Research)
- Referrals follow depth of service. Referrals remain the leading driver of organic growth for RIAs, accounting for 70% of new clients. Firms with documented referral strategies consistently outperform those without. (Schwab RIA Benchmarking Study, 2023)
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