3.6.4.1Vertical
Fee-Only Financial Planners
Financial planners charging flat or hourly fees without commissions.
Market snapshot
These figures describe Investment Advisory & RIA (3.6.4), the segment that Fee-Only Financial Planners sits within — not Fee-Only Financial Planners on its own.
- Market size
- ~$373B
- Growth
- ~5.5%CAGR (2017–22, nominal)
- Companies
- ~67,500
FragmentationConsolidatingEstimate
U.S. Census Bureau 2022 CBP/Economic Census, NAICS 523940 (Portfolio Management & Investment Advice; 2017 codes 523920/523930).
Business model & economics
Revenue model
Recurring fees on assets under management
Key economics
- Recurring revenue
- High
- EBITDA margin
- 20–35%
- Capex intensity
- Low
sticky AUM-based fees
Characteristics
- Vast, fragmented base of advisory firms.
- Aging advisors and scale value drive the roll-up.
- Recurring AUM fees and sticky relationships.
M&A deal context
Deal activityHigh
Who’s acquiring
- National RIA consolidators
- PE-backed wealth platforms
- Bank & brokerage strategics
What’s driving deals
- Aging-advisor succession driving sales.
- Scale, technology, and platform value.
- Abundant private-equity capital.
Find Fee-Only Financial Planners acquisition targets
Search Acquisera’s index for companies classified under Fee-Only Financial Planners (3.6.4.1) and build a targeted deal pipeline.
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