Practice Management

Three-fourths of advisors to be fee-based by 2026: Cerulli

Lilly Riddle / Mar 19, 2025
Cerulli’s latest report, released Tuesday, found that a shift from commissions to asset-based fees is driving the change.
The proportion of financial advisors in the US who get paid on commissions is continuing to shrink.
A report released Tuesday by the research and analytics firm Cerulli Associates found that roughly seven in 10 advisors now use fee-based compensation models, with that number expected to rise to 77% by 2026. The figures come from Cerulli’s ‘Americas Asset and Wealth Management Edition’ report, a press version of which was shared with Citywire.
The report also found that the RIA channel is the only channel within the wealth management industry in which asset-based fees are expected to become a smaller proportion of advisor revenues by 2026. This is a result of advisors’ accelerating adoption of fixed financial planning fees and retainer fee models, which are set to make up the difference.
Commission-based compensation structures today are used by less than a quarter of all financial advisors, coming in at 23%. The report attributes this trend in part to the rising importance placed on financial...
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