Growth | Partnership | RIA Industry Insights
The independent RIA industry is changing, and for smaller firms, the cost of doing business is becoming increasingly difficult to ignore.
Between rising operational expenses, evolving custodial requirements, increasing regulatory complexity, and growing client expectations, independent financial advisors are facing new challenges that go far beyond managing investments.
Fidelity’s recent decision to establish a $100 million custodial asset minimum for existing RIAs is a clear example of how the industry is evolving. But it also raises a much bigger question:
Is your RIA structured to support your long-term growth, or is the cost of maintaining your independence holding you back?
The Changing Economics of Independence
For years, independence has offered financial advisors the opportunity to build businesses on their own terms. Advisors can control their client relationships, establish their own brands, and create the experience they believe best serves their clients.
Those benefits haven’t changed. But the economics of running an independent RIA have.
Today, advisors must balance the responsibilities of managing client relationships with the increasing demands of operating a business.
Consider the growing list of expenses and responsibilities facing independent RIAs:
- Compliance and regulatory oversight: Maintaining policies, procedures, documentation, cybersecurity safeguards, and regulatory reporting.
- Technology investments: Keeping up with evolving CRM platforms, financial planning software, portfolio management systems, and AI-powered tools.
- Operational infrastructure: Managing account administration, billing, reporting, trading, and other essential business functions.
- Talent and staffing: Recruiting, developing, and retaining employees capable of supporting a growing client base.
- Marketing and business development: Investing in the resources needed to attract new clients and generate sustainable organic growth.
For smaller RIAs, these responsibilities can consume a significant amount of time and resources that could otherwise be directed toward clients and business development.
The challenge isn’t necessarily generating more revenue. It’s building a business where growth doesn’t require a proportional increase in expenses and complexity.
Fidelity’s $100 Million Requirement: A Sign of What’s Ahead?
In October 2026, Fidelity announced that RIAs must maintain at least $100 million in client assets on its custody platform by June 30, 2027, or discontinue their custodial relationship.
Importantly, the requirement applies to assets held at Fidelity, not necessarily an RIA’s total assets under management.
For smaller firms that have built their businesses around Fidelity’s platform, this creates an important decision.
Do they move their clients to another custodian? Attempt to meet the new threshold? Or explore a different RIA structure that allows them to maintain their existing custodial relationship?
While Fidelity’s decision is specific to its custody platform, it highlights a broader consideration for independent advisors: How much flexibility does your current business model provide when the industry changes?
Advisors who have spent years building their practices shouldn’t have to make disruptive business decisions simply because their infrastructure can no longer support their needs.
And that’s where the value of scale becomes increasingly important.
Why Scale Matters More Than Ever
Scale isn’t just about having more assets under management. It’s about having access to the resources, relationships, technology, and infrastructure necessary to operate efficiently and pursue long-term growth.
For an independent advisor, partnering with a larger RIA can offer several meaningful advantages.
- Shared Infrastructure and Operational Support
Rather than building and maintaining every operational function independently, advisors can leverage established systems and specialized support teams. This can reduce administrative burdens and create more time for client relationships.
- Access to Technology and Innovation
Technology is evolving quickly, particularly with the introduction of AI and automation into wealth management. A larger RIA platform may provide access to integrated solutions that would otherwise be expensive or time-consuming for smaller firms to implement independently.
- Greater Custodial Flexibility
Working with an RIA that maintains established relationships with multiple custodians can provide advisors with additional options as client needs and industry requirements evolve.
- Resources Dedicated to Organic Growth
Growth requires more than simply delivering great financial advice. Marketing, prospecting, lead generation, and business development all require consistent attention. The right RIA partner can provide specialized resources to help advisors attract new clients and strengthen existing relationships.
- Long-Term Business Sustainability
With access to established infrastructure, operational support, and strategic resources, advisors may be better positioned to manage expenses, build scalable processes, and strengthen the long-term value of their businesses.
Independence and Partnership Are Not Mutually Exclusive
One of the biggest misconceptions in wealth management is that advisors must choose between maintaining their independence and gaining the support of a larger organization.
But independence doesn’t have to mean doing everything yourself.
The right RIA partnership can allow advisors to maintain the entrepreneurial elements they value most while benefiting from the scale of a larger platform.
That means continuing to build their brand, strengthen client relationships, and make decisions about the future of their practice without carrying every operational responsibility alone.
The key is finding a partner whose structure, culture, and capabilities align with the advisor’s long-term vision.
A Different Approach to Independence With OneSeven
At OneSeven, we believe advisors should be able to maintain their independence while accessing the resources they need to thrive.
As a $10B+ RIA, OneSeven provides advisors with the benefits of scale while supporting the individuality of their practices.
Our platform is built around three core pillars:
Growth: Helping advisors build stronger businesses through marketing, business development, and resources designed to support organic growth.
Partnership: Providing operational support, strategic relationships, and access to a collaborative community of advisors and industry professionals.
Innovation: Delivering technology, tools, and solutions designed to improve efficiency, enhance the client experience, and help advisors adapt to an evolving industry.
OneSeven also maintains custodial relationships with Fidelity, Charles Schwab, and Goldman Sachs, offering eligible advisors greater flexibility in how they serve their clients.
For RIAs impacted by Fidelity’s new $100 million requirement, joining OneSeven as an investment adviser representative may provide a path to continue using Fidelity under OneSeven’s existing custodial relationship, subject to eligibility, custodial approval, and applicable transition requirements.
And with more than $3 billion in assets transitioned to Fidelity over a recent six-month period, OneSeven has significant experience helping advisors navigate custodial transitions.
Our goal is simple: Help advisors spend less time managing the complexities of running an RIA and more time doing what they do best—serving clients and growing their businesses.
The Question Every RIA Owner Should Be Asking
Fidelity’s $100 million requirement may be the latest industry development capturing advisors’ attention, but it likely won’t be the last change independent firms must navigate.
The real question isn’t simply whether your RIA meets today’s custodial requirements.
It’s whether your business is positioned to succeed tomorrow.
Do you have the technology, infrastructure, resources, and partnerships necessary to support your next stage of growth?
Or are you spending more time and money maintaining your independence than investing in the future of your business?
The future of independence isn’t about doing everything alone. It’s about having the freedom to build the business you envision—with the right partners helping you get there.
Don’t Let Industry Changes Limit Your Growth
Whether you’re navigating new custodial requirements, looking to reduce operational complexity, or exploring ways to grow your practice, OneSeven can help you evaluate what’s next.
Keep your independence. Strengthen your business. Gain the power of partnership.
Connect With OneSeven to Explore Your Options
Data as of October 1, 2026
