Q4 2025 Trend Report
What to Do About Low Organic Growth in Wealth Management

If you listen to the chatter, wealth management has an organic growth problem. According to the BCG Wealth Global Report, not even a quarter (22%) of North American firms’ AUM growth since 2014 was a result of organic growth. In our own analysis of our national cohort of wealth management firms (worth $6T in AUM), 51% said their organic growth was 10% or less, and another 35% didn’t know their organic growth rate.

In other words, if you are a firm with a five-year compound growth rate of 9.2%, only about 1.5% of your growth was organic. Problem? Yes, if you want to be a growth-oriented firm. Strong organic growth is an indicator of organizational stability and a key driver of enterprise value.

The results of F2’s recent research into organic growth shine a light on the critical need for firms to build stronger, more coordinated growth strategies that span sales, marketing, technology, and product functions. What was once viewed as a purely creative discipline, marketing is now an essential driver of business outcomes — working closely with sales to share data, refine campaigns, and measure effectiveness. The pandemic accelerated this shift, pushing both teams toward deeper collaboration and greater reliance on digital tools and coordinated outreach.

At the same time, upskilling current employees remains a priority, with AI-focused training emerging as a key investment for improving efficiency and strengthening the processes that support organic growth.

The full report illustrates the current state of organic growth in wealth management.

Trend 1

Small Firms Lack Defined Organic Growth Process

Insights and Actionable Intel:

  • Smaller firms, who often rely on organic growth the most, are much more likely to struggle with implementing a defined organic growth process at their firms.
  • They often don’t have a defined process because they haven't invested in their infrastructure, including people and tools, as strategic organic growth is often a lower priority for emerging firms.
  • The wealth management industry has traditionally focused on referrals and networking, even as the world has gone digital.
  • A lack of a defined process leads to erratic and unpredictable growth – 4 out of 7 firms under a billion in AUM reported 0-5% of their growth was due to organic growth.
  • Take Action: Even if most of your growth comes from referrals, you need to ensure you have a strong digital presence and a process to nurture those leads because they will investigate you online first. A defined process for organic growth requires setting up your whole organization's people, processes, and technology for engaging in growth as well as measuring the right metrics. Outsourced resources provide strategic insight and implementation support while keeping overhead costs down.
Trend 2

Referrals Top List of Growth Strategies, Despite Many Firms Not Directly Asking for Referrals

Insights and Actionable Intel:

  • While referrals work for advisors (18 out 30 cited it as their most successful strategy), it can be uncomfortable to ask clients for referrals.
  • Some firms believe it’s unnecessary to ask clients directly for referrals because their exceptional service should lead clients to make referrals without being asked to do so.
  • Firms that have educated their advisors on how to talk to their clients about the firm have made a very low investment but found a powerful way of increasing their referral rate.
  • A few other tactics, including podcasts, have increased in maturity over the last 18 months.
  • Take Action: There is no single silver bullet for lead generation and growth. Given that referrals are cited as the most common organic growth tactic, and organic growth is low, firms should consider diversifying their marketing tactics and testing other outlets for leads.
Trend 3

A Small Number of Firms Are Experimenting with AI for Marketing

Insights and Actionable Intel:

  • The range of possibilities for firms to use AI to support marketing and growth efforts is broad, from defining what your next content piece should be about to analyzing the metrics from your last campaign.
  • Firms are seeking ways AI can help them be more efficient across multiple organic growth channels.
  • Take Action: AI isn’t just about building efficiency into your marketing process—it’s about using data and information to build more meaningful connections. Consider how AI can deliver on the human-side of marketing such as personalizing content specific to how clients feel, what they fear, what excites them, and what they value most.
Trend 4

Large Firms More Likely to Hold Business Development Officers Accountable for Organic Growth Than Small Firms

Insights and Actionable Intel:

  • Larger firms are more likely to have roles such as chief commercial officer or chief growth officer than smaller firms where team members wear multiple hats.
  • The low numbers of firms with defined metrics align with the low numbers of firms with defined growth processes, because they go hand in hand.
  • Take Action: Firms need to define metrics as part of investing in their defined organic growth plan, but they should take into consideration that not every tactic will offer a direct correlation to a lead.
SUrvey Information

The data in this report is generated from a survey conducted by F2 Strategy in September 2025. The survey includes responses from 42 leading RIAs, Wealth Management firms, and Broker/Dealers representing $3.2 trillion in assets.

ABOUT F2 Strategy

F2 Strategy is a leading consulting and research firm modernizing the wealth and asset management industry. Operating within Wealth, Bank & Trust, and Asset Servicing, F2 delivers executive-level technology and marketing guidance, proprietary research, and implementation support to the largest and fastest growing financial institutions. Built on firsthand insight and a people-first mindset, F2 empowers clients to build smarter systems, streamline operations, and drive sustainable growth.

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