Top 10 Sales KPIs in the Wealth Management Industry in 2027

By Kory White · Updated Oct 2026 · 5 min read

Direct answer

Organic growth rate is the top sales KPI in the wealth management industry in 2027, followed by net new assets and AUM growth. Schwab reported a 5.1% organic growth rate for 2025, LPL Financial 8% and Raymond James 3.8% in its domestic Private Client Group in fiscal 2025. Where no source publishes a benchmark, this page says so.

At a glance

#	Pick	Formula	Best for
1	Wealth Management Organic Growth Rate	Net new assets in a period divided by beginning-of-period client assets, with market gains excluded	Firms that want growth measured apart from market performance
2	Wealth Management Net New Assets and Net Flows	Client inflows minus outflows over a period, in dollars	Firms comparing dollar flows by channel, such as fee-based versus brokerage
3	Wealth Management AUM Growth	Change in assets under management over a period, including market performance and flows	Owners who want the all-in picture of asset growth
4	Wealth Management Assets per Advisor	Total client assets divided by the number of advisors	Firms judging advisor capacity and book size
5	Wealth Management Revenue per Advisor	Advisory fees and commissions divided by the number of advisors	Firms measuring how much each advisor produces
6	Wealth Management New Client Acquisition	Number of new clients, and assets from those clients, added in a year	Firms that grow by adding households rather than by market gains alone
7	Wealth Management Client Retention Rate	Clients kept at year-end divided by clients at the start of the year	Firms whose growth depends on keeping existing households
8	Wealth Management Referral Share of New Clients	New clients that came from referrals divided by all new clients	Firms deciding how much to invest in referral programs
9	Wealth Management Lead Conversion Rate	Leads that become clients divided by all qualified leads	Firms with a defined sales process from inquiry to signed agreement
10	Wealth Management Client Account Growth	Change in the number of client accounts or households over a period	Firms that want to know if growth comes from more households or bigger balances

Pick by what you want

Best overall

Wealth Management Organic Growth Rate

Best for tracking flows

Wealth Management Net New Assets and Net Flows

Best for advisor capacity

Wealth Management Assets per Advisor

Best for new business

Wealth Management New Client Acquisition

Best for referrals

Wealth Management Referral Share of New Clients

The ranking

Wealth Management Organic Growth Rate

Photo: Tony Webster / CC BY 2.0 via Wikimedia Commons

Answrs VerdictThe headline wealth management sales KPI.

Formula: Net new assets in a period divided by beginning-of-period client assets, with market gains excludedSchwab: Core net new assets of $519.4 billion in 2025, a 5.1% organic growth rateLPL Financial: Total organic net new assets of $147 billion in 2025, an 8% growth rate; 4% annualized in the fourth quarterRaymond James: Domestic Private Client Group net new assets of $52.4 billion in fiscal 2025, or 3.8% growth from beginning-of-year assets

Organic growth rate is net new assets divided by beginning-of-period client assets, with market gains left out. Schwab reported 5.1% for 2025, LPL Financial 8% and Raymond James 3.8% in its domestic Private Client Group for fiscal 2025.

Go ifFirms that want growth measured apart from market performance

Skip ifYou only track total assets, which rise and fall with markets

Why #1 over #2: It isolates new business from market moves, which AUM growth does not.

Wealth Management Net New Assets and Net Flows

Photo: Ajay Suresh from New York, NY, USA / CC BY 2.0 via Wikimedia Commons

Answrs VerdictThe dollar-flow KPI.

Formula: Client inflows minus outflows over a period, in dollarsMorgan Stanley: Wealth Management net new assets of $356.3 billion in 2025, versus $251.7 billion in 2024Morgan Stanley fee-based: Fee-based asset flows of $160.1 billion in 2025, versus $123.1 billion in 2024Schwab Advisor Services: Net new assets of $97.8 billion in the fourth quarter of 2025

Net new assets are client inflows minus outflows in dollars. Morgan Stanley Wealth Management reported $356.3 billion in 2025, versus $251.7 billion in 2024, and fee-based flows of $160.1 billion, versus $123.1 billion.

Go ifFirms comparing dollar flows by channel, such as fee-based versus brokerage

Skip ifYou need a rate that compares firms of different sizes

Why #2 over #3: It shows dollar flow by channel, which a growth rate hides.

Wealth Management AUM Growth

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Answrs VerdictThe total-growth KPI.

Formula: Change in assets under management over a period, including market performance and flowsSEC-registered advisers: Regulatory assets under management up 22.3% to $176.8 trillion in 2025 across 16,544 firmsSchwab RIA study: AUM up 17.9% for the median RIA firm in 2023LPL Financial: Total advisory and brokerage assets up 36% year over year to $2.4 trillion at year-end 2025

AUM growth is the change in assets under management, markets included. SEC-registered advisers reported regulatory assets up 22.3% to $176.8 trillion in 2025, and the median RIA in the Schwab study grew AUM 17.9% in 2023.

Go ifOwners who want the all-in picture of asset growth

Skip ifYou need to separate market gains from new business

Why #3 over #4: It shows the whole balance sheet effect, which a flows KPI does not.

Wealth Management Assets per Advisor

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Answrs VerdictThe advisor-productivity KPI.

Formula: Total client assets divided by the number of advisorsLPL Financial: Average total assets per advisor of $73.7 million in the fourth quarter of 2025, versus $60.3 million a year earlierSchwab RIA study: AUM per professional of $108 million in 2023, versus $99 million in 2019, for the median firm with $250 million or more in AUMOther firms: No benchmark published in the sources cited

Assets per advisor is client assets divided by advisors. LPL Financial reported $73.7 million in the fourth quarter of 2025, versus $60.3 million a year earlier; the Schwab RIA study reported $108 million of AUM per professional in 2023.

Go ifFirms judging advisor capacity and book size

Skip ifYour advisors share clients on teams and headcount is unclear

Why #4 over #5: It shows capacity per advisor, which firm-wide growth rates cannot.

Wealth Management Revenue per Advisor

Photo: Steve Buissinne / CC0 via Wikimedia Commons

Answrs VerdictThe production KPI.

Formula: Advisory fees and commissions divided by the number of advisorsLPL Financial: Annualized advisory fees and commissions per advisor of $470 thousand in the fourth quarter of 2025, versus $390 thousand a year earlierLPL payout rate: Payout rate of 88.00% of advisory and commission revenue in the fourth quarter of 2025Other firms: No benchmark published in the sources cited

Revenue per advisor is advisory fees and commissions divided by advisors. LPL Financial reported $470 thousand annualized in the fourth quarter of 2025, versus $390 thousand a year earlier; no other firm in the sources cited gave a figure.

Go ifFirms measuring how much each advisor produces

Skip ifYou cannot separate advisor payout from firm revenue

Why #5 over #6: It prices the advisor book in revenue, which assets per advisor leaves out.

Wealth Management New Client Acquisition

Photo: Whoisjohngalt / CC BY-SA 4.0 via Wikimedia Commons

Answrs VerdictThe new-business KPI.

Formula: Number of new clients, and assets from those clients, added in a yearSchwab RIA study: The median Top Performing Firm added 42 new clients in 2023, versus 23 for all other firmsAssets from new clients: Median $43.1 million at Top Performing Firms in 2023, versus $17.9 million at all other firmsNew revenue per professional: $67,000 at Top Performing Firms in 2023, versus $39,000 at all other firms

New client acquisition counts the households and assets added in a year. In the Schwab RIA study the median Top Performing Firm added 42 new clients in 2023, versus 23 for other firms, and $43.1 million of assets from them, versus $17.9 million.

Go ifFirms that grow by adding households rather than by market gains alone

Skip ifYou do not record when a client signs and funds an account

Why #6 over #7: It shows new households directly, which flows can hide inside a few large accounts.

Wealth Management Client Retention Rate

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Answrs VerdictThe keep-the-base KPI.

Formula: Clients kept at year-end divided by clients at the start of the yearSchwab RIA study: Client retention for the median firm has held at 97% over the last decadePublic wirehouse and broker-dealer filings: No benchmark published in the sources cited

Client retention is clients kept divided by clients at the start of the year. The Schwab RIA study reports that the median firm has held 97% over the last decade; no public broker-dealer filing cited gives a rate.

Go ifFirms whose growth depends on keeping existing households

Skip ifYou count only closed accounts, not households that left

Why #7 over #8: It protects the base, but it measures keeping clients rather than winning them.

Wealth Management Referral Share of New Clients

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Answrs VerdictThe referral-engine KPI.

Formula: New clients that came from referrals divided by all new clientsSchwab RIA study: Referrals accounted for 67% of new clients and new client assets in 2023Referral plans: Firms with a documented client referral plan gained 1.4x more new clients from client referrals, and 3.0x more from business partner referrals

Referral share is new clients from referrals divided by all new clients. The Schwab RIA study reports referrals at 67% of new clients and new client assets in 2023, and 1.4x more new clients for firms with a documented client referral plan.

Go ifFirms deciding how much to invest in referral programs

Skip ifYou do not ask new clients how they found you

Why #8 over #9: It names the source of growth, which acquisition counts do not.

Wealth Management Lead Conversion Rate

Photo: Tony Webster / CC BY 2.0 via Wikimedia Commons

Answrs VerdictThe sales-funnel KPI.

Formula: Leads that become clients divided by all qualified leadsSchwab RIA study: The median firm that tracked it closed 50% of leads in 2023Cost to acquire a client: No benchmark published in the sources cited

Lead conversion rate is leads that become clients divided by qualified leads. The median firm in the Schwab RIA study that tracked it closed 50% of leads in 2023.

Go ifFirms with a defined sales process from inquiry to signed agreement

Skip ifYou do not log prospects before they meet an advisor

Why #9 over #10: It measures the sales process, but only firms that log prospects can track it.

Wealth Management Client Account Growth

Photo: Ank Kumar / CC BY-SA 4.0 via Wikimedia Commons

Answrs VerdictThe household-growth KPI.

Formula: Change in the number of client accounts or households over a periodLPL Financial: 11.6 million total client accounts in the fourth quarter of 2025, versus 10.0 million a year earlierSchwab: Total client accounts up 6% year over year to 46.5 million in 2025Schwab RIA study: 5-year client CAGR of 12.6% for Top Performing Firms, versus 4.6% for all other firms

Client account growth is the change in accounts or households. LPL Financial reported 11.6 million accounts, versus 10.0 million a year earlier, and Schwab 46.5 million, up 6%. No cost-to-acquire-a-client benchmark was found in the sources cited.

Go ifFirms that want to know if growth comes from more households or bigger balances

Skip ifYou count accounts instead of households, which inflates the number

How we ranked these

We ranked sales KPIs on how directly they show wealth management growth and how clearly published sources define them, using the latest earnings releases of LPL Financial, Morgan Stanley, Schwab and Raymond James, the Investment Adviser Association snapshot of SEC filings, and the 2024 Schwab RIA Benchmarking Study. We cite a benchmark only where a source states one. Fiscal years differ by firm, the RIA study is self-reported by Schwab custody clients, and no source cited publishes fee yield in basis points or cost to acquire a client. Facts are taken from each maker's own published information; check the official site before you buy.

Questions people ask

What is the most important sales KPI in wealth management?

Organic growth rate, which measures net new assets without market gains. Schwab reported 5.1% for 2025, LPL Financial 8% and Raymond James 3.8% for its domestic Private Client Group in fiscal 2025.

How much do wealth management firms grow each year?

Growth depends on the measure. SEC-registered advisers saw regulatory assets under management rise 22.3% in 2025, while the median RIA in the Schwab study grew AUM 17.9% in 2023.

What are average assets per advisor?

LPL Financial reported average total assets per advisor of $73.7 million in the fourth quarter of 2025. The Schwab RIA study reported AUM per professional of $108 million in 2023 for the median firm with $250 million or more.

What is a good client retention rate for an advisory firm?

The Schwab RIA Benchmarking Study reports that the median firm has held client retention at 97% over the last decade.

Organic net new asset growth rate, % at a glance

Raymond James domestic PCG fiscal 20253.8 %

LPL Financial fourth quarter 2025, annualized4 %

Schwab 20255.1 %

LPL Financial 20258 %

Organic net new asset growth rate, %, as published by each maker. Picks without a published figure are left off.

Official sites

Wealth Management Organic Growth Rate · pressroom.aboutschwab.com
Wealth Management Net New Assets and Net Flows · sec.gov
Wealth Management AUM Growth · investmentadviser.org
Wealth Management Assets per Advisor · sec.gov
Wealth Management Revenue per Advisor · sec.gov
Wealth Management New Client Acquisition · content.schwab.com
Wealth Management Client Retention Rate · content.schwab.com
Wealth Management Referral Share of New Clients · content.schwab.com
Wealth Management Lead Conversion Rate · content.schwab.com
Wealth Management Client Account Growth · sec.gov

Sources

sec.gov

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