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Pathways to Growth

Capital Group’s Advisor Benchmark Study

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Three crucial routes to business growth

In the fifth edition of Capital Group's Pathways to Growth Advisor Benchmark Study, we surveyed more than 1,000 advisors and RIAs to answer the question: Why did some advisors experience twice the practice growth of their average peers? Our research identified certain skills that helped drive growth across the board, for all kinds of advisors.

 

We categorized these higher impact skills into three distinct groupings or "pathways." Understanding these pathways and focusing on the highest value skills within each can help drive growth.

Find out more about each of these pathways below

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How do your skills measure up?

With just a few questions, you can find out where you stand and find areas of opportunity in your practice. Plus, get access to valuable content designed to improve your skills.

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  1. Client acquisition
  2. Client experience
  3. Strategic scale

Client acquisition

 

Among the three pathways, client acquisition skills and activities are most highly correlated to growth.

New client focus: A clear driver of organic* growth.

For all advisors in our study, 32% of AUM growth came from new clients. But high-growth advisors saw greater-than-average gains. Indeed, assets from new clients were their biggest drivers of AUM growth. So it's not surprising to learn that those in the high-growth segment are more likely to focus on client acquisition and have higher levels of skill in areas like branding and prospecting. And they are much more intentional about applying those skills strategically.

For high-growth advisors, new clients were the biggest AUM driver in 2025

A bar chart compares the biggest sources of assets under management growth in 2025 for the other advisor and highest growth advisors. New clients represent 32% for other advisors compared with 42% for highest growth. Existing clients represent 30% compared with 32% for highest growth advisors. Investment results were 36% for other advisors compared with 24% for highest growth advisors. Other factors represent 2% for other advisors compared with 3% for highest growth advisors.

Client acquisition skills: Higher for high-growth advisors but low overall

A chart compares the differences between the self-described client acquisition skills of the highest growth advisors and the average advisors. Overall, 43% of the high¬est growth advisors described themselves as skilled in client acquisition compared with 24% of other advisors. As for branding themselves, 47% of highest growth advisors described themselves as skilled in branding compared with 25% of other advisors. In marketing, 40% of highest growth advisors rated themselves as skilled versus 20% for other advisors. For prospecting, 51% of the highest growing advisors judged themselves to be skilled compared with26% for other advisors. In the area of referrals, 34% of highest growth rated themselves as skilled compared with 22% of other advisors.

* Organic growth is defined as rising assets under management not attributable to acquisitions or upward movements in capital markets.

Build your client acquisition skills

Our first Pathways to Growth study revealed that branding, marketing, referrals and prospecting play a critical role in helping high-growth advisors excel. That's why we've curated content built specifically to help you build client acquisition skills.

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Client experience

 

High-growth advisors enhance their offering through customized services and experiences and connect that offering to better client outcomes.

High-growth advisors offer an elevated experience to top clients.

Each edition of our study has increasingly confirmed that certain services have become table stakes offerings for nearly all advisors. These include retirement and financial planning and investment management. Higher growth advisors elevate their client service by providing the services clients expect and connecting them to potentially better outcomes. But on top of that, they add distinct experiences like client appreciation outings, educational seminars and gifts during life events for their highest value clients.

Highest growth advisors provide more experiences for high-value clients

A chart compares the percentage of clients of high-growth advisors who are offered specific experiences by their advisors, compared with the rates at which clients of other advisors are offered the same experiences. Gifting during life events is offered to 94% of the clients of highest growth advisors versus 91% of the clients of other advisors. Client outings are offered to 87% of highest growth advisors’ clients compared with 74% of clients for other advisors. In-person educational seminars is offered to 85% of the clients of highest growth advisors compared with 68% of the clients of other advisors. Online education is offered to 83% of the clients of highest growth advisors compared with 65% of the clients of other advisors.

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Client experience

Strategic scale

 

High-growth advisors seek to “professionalize” their practice by implementing processes and procedures common to today’s most sophisticated organizations.

Thinking like a CEO

High growth advisors seek efficiencies in order to free up time for high value activities such as client acquisition and delivering a better client experience. They engage in dynamic business planning, employ standard operating procedures (SOPs) for key business processes, leverage technology and third-party investment models at greater-than average rates, and partner with specialists across a range of key practice disciplines. They are also more intentional in managing their teams.

Highest growth practices utilize outside specialists at higher rates

This chart looks at areas in which advisors utilize outside specialists for specific practice needs and compares the level of usage for high growth advisors with the level of usage for the average advisor. The first bar shows that 89% of the highest growth advisors use outside estate planning specialists versus 77% of the overall universe of advisors. The second bar shows that 87% of highest growth advisors use tax planning specialists compared to 71% of advisors overall. The next bar shows that 87% of the highest growth advisors rely on outside investment research specialists compared with 72% of all advisors. The next bar shows that 78% of highest growth advisors use outside specialists to market their firms, compared with 64% of advisors overage. The next bar shows that 77% of highest growth advisors use outside specialists for support on alternative investments, compared with 61% of the entire universe of advisors. The next bar shows that 74% of the highest growth advisors use outside specialists to provide wealth management for high-net-worth clients compared with 60% of all advisors. The next bar shows that 69% of highest growth advisors use outside specialists for college planning versus 49% of advisors overall. The final bar shows that 66% of the highest growth advisors utilize outside specialists for retirement planning compared to 53% of advisors overall.

Source for all chart data: Capital Group Advisor Benchmark Survey, 2026

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Strategic scale

Download our latest Pathways to Growth study and learn:

  • Skills most correlated to practice growth
  • The pivotal role of client acquisition
  • The rising importance of strategic scale
  • Table stakes services vs. an elevated client experience
  • Insights on running your practice like a CEO
  • Six steps on your pathway to growth
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Courses, workshops and consulting

Looking to build the skills that drive practice growth? Our online courses and in-person and virtual workshops have got you covered. And our advisor practice management consultants can customize coaching for you and your teams.

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