What the Fastest-Growing RIAs Are Doing Differently with Ian Wenik

Episode 156: This week, Kyle Van Pelt talks with Ian Wenik, Editor at Citywire. Ian covers the independent wealth management industry with a focus on RIAs, mergers and acquisitions, advisor technology, and the business forces reshaping financial advice. Through his reporting and conversations with industry leaders, he has developed a front-row view of the trends driving growth across the advisory landscape.

Kyle and Ian explore what separates today's fastest-growing RIAs from the rest of the industry. They discuss why competition for acquisitions continues to intensify, how firms can balance scale with independence, and why organic growth remains the ultimate differentiator. They also examine Schwab's latest referral changes, AI's potential to level the playing field for mid-sized firms, emerging technology trends, and what Ian believes the future holds for advisors building the next generation of great firms.

In this episode:

(00:00) - Intro

(03:25) - A preview of Citywire's fastest-growing RIAs report 

(05:47) - Why the M&A market is becoming more competitive 

(08:00) - Why large RIAs struggle to reach the public markets

(11:02) - Are RIAs becoming the new wirehouses? 

(13:21) - Deal structures that don't work

(16:05) - Schwab's referral changes and what they mean for RIAs 

(22:06) - What's driving organic growth today

(25:21) - How AI can help mid-sized firms compete