The firm that doesn’t look like the rest—by design

Solving tomorrow’s advisor crisis today

Based on research from the McKinsey Global Institute

Table of Contents

The growing advisor shortage

The U.S. wealth management industry faces a crisis: Demand for human financial advice is accelerating as more Americans build wealth and their needs grow more complex. Yet the supply of advisors is not keeping pace.

A landmark study by McKinsey projects advised relationships will grow by as much as 34% by 2034. But with an aging workforce, slow recruitment and modest productivity gains, the industry could face a shortage of up to 110,000 advisors within the decade. McKinsey highlights three forces—capacity, demographics and operating models—that make the challenge urgent.

For individual advisors, this can look like an advantage. But opportunity alone doesn’t drive sustainable growth. To capture and scale it requires enterprise resources, a deep bench of specialists and a support system that keeps advisors focused where it matters most: serving clients and expanding relationships.

That’s where the difference lies. While the industry is scrambling to respond to capacity challenges, Mariner advisors are supported by resources that encourage intentional growth.

Demand

Rising demand, shrinking supply

34% growth in demand—but 110,000 fewer advisors.

The capacity gap

The number of affluent households—those with at least $500,000 in investable assets—is expected to grow eight times faster than the general population. Millennials now hold 25% more wealth than prior generations did at the same age.

More wealth means more complexity—and more need for advisors who can provide tax, estate and holistic planning.

Capacity gap

The promise and peril of “peak 65”

McKinsey highlights “Peak 65” as one of the most powerful demographic forces reshaping wealth management. Every day, more than 11,000 Americans turn 65¹. By 2030, one in five Americans will be retirement age.² This “Peak 65” moment, combined with longer lifespans,³ fewer pensions,⁴ longer retirements,⁵ and an $84 trillion wealth transfer over the next two decades,⁶ is fueling explosive demand for comprehensive planning. Investor demand for holistic advice has nearly doubled in just five years—from 29% in 2018 to 52% in 2023.

Varied Talent Pools

Recruiting more advisors is necessary, but not enough. McKinsey estimates the industry must also achieve 10–20% productivity gains to close the gap.

Key strategies include:

  • Team-based models. Practices built on teams outperform solo firms, with 20% larger books on average.
  • Specialist leverage. Using experts in tax, estate and insurance helps advisors scale service and deepen relationships.
  • Centralized lead generation. Freeing up time spent on prospecting can return up to 4% of advisor capacity.

Yet most firms are slow to adapt. Talent pipelines remain thin—nearly 27,000 advisors switch firms annually, but the industry adds only 800 net new advisors each year.

Fixing the industry

For advisors, the risk is clear: if your firm isn’t building these capabilities, growth stalls. McKinsey is blunt—cosmetic fixes won’t solve this. The firms that don’t fundamentally rethink how they recruit, support and scale advisors will be the ones left behind. That’s why the question is critical: Are you partnered with a firm that’s adapting to these changes—or one that’s standing still?

Mariner’s future-proof model 

McKinsey is sounding the alarm. At Mariner, this isn’t news—it’s exactly what we’ve been preparing for.

Two decades ago, Founder and CEO Marty Bicknell recognized the advisor shortage and demographic pressures now reshaping the industry. His answer was not incremental change, but a fundamental reinvention of the advisory model. At its core: keeping the client at the center, surrounding advisors with resources and removing barriers that hold firms back.

The result: a future-ready organization designed to help advisors grow faster and stronger from day one.

Future proof

Built to help remove barriers to growth

Mariner wasn’t built for incremental efficiencies—it was designed to remove the barriers that keep advisors from growing. Whether you join as a firm advisor or partner with us as an independent advisor, the platform delivers scale, support and growth—tailored to your model.
Firm advisors
  • Growth at speed. Tap into referral programs and national visibility. In 2024, Mariner generated more than 8,900 qualified leads across 14 channels.
  • Technology advantage. Integrated CRM, planning and risk platforms plus next-generation tools like Holistiplan and Vanilla deliver faster insights and planning precision.
  • Development and career growth. Training, coaching and national events help advisors and teams sharpen skills and expand capacity.
  • Advisor-first culture. Advance in a firm where growth—not politics—is the priority.

Within 90 days, 94% of new Senior Wealth Advisors joining Mariner are leading client relationships—demonstrating rapid assimilation and early client impact.8

Independent advisors
  • Accelerated growth. Access the same national visibility—without building it on your own.
  • Scale unlocked. Expand your practice with resources that multiply what your office and staff can deliver.
  • Freedom of advice. Investment solutions let you deliver holistic planning without product push.
  • On-demand specialists. Tap into tax, estate and business consulting expertise you could never cost-effectively build into a small firm.

Nearly 70% of independent advisors grow their client base within their first year. Across all advisors, average client-base growth is about 20% in year one.9

Built to help
Both models deliver the same result: freedom to focus on clients, confidence to serve more complex needs and the ability to grow faster.

Let’s take a closer look at the key components that serve as true force multipliers within the Mariner model.

Back-office strength that frees advisors

Advisors are be able to grow faster when they spend more time with clients. Yet less than half of advisor time is client-facing.7 Mariner’s back office removes operational drag so advisors can focus on growth.
Firm advisors
  • Full-service operations. Dedicated teams handle onboarding, billing, compliance and HR with enterprise-level precision.
  • Career leverage. Access structured processes and resources that accelerate your personal book and career trajectory.
  • Seamless client experience. Support systems designed to strengthen your client relationships and retention.
Independent advisors
  • Lean and agile. Outsource HR, billing and compliance without hiring staff or building infrastructure.
  • Professional-grade marketing. Firmwide campaigns, websites and SEO tools built to expand visibility for entrepreneurial advisors.
  • Freedom of advice. Investment solutions let you deliver holistic planning without product push.
  • Agility at scale. Grow capacity and compete with larger firms while staying lean and independent.

Investment solutions with depth and flexibility

Benefit from institutional-grade solutions designed to deliver choice, scale and client-first planning.
Firm advisors
  • Full-service operations. Direct indexing and an in-house options team create tailored strategies that differentiate your practice.
  • Integrated support. Portfolio construction, management tools and ERISA compliance delivered seamlessly in-house.
Independent advisors
  • Lean and agile. Compete head-to-head with national firms by offering access to both public and private markets.
  • Pricing power. Deliver pricing advantages and third-party manager access without the burden of contracts or custodial negotiations.
  • Enhanced credibility. Position your independent practice with the sophistication of a national firm, while retaining ownership of client relationships.

Technology that accelerates advice

You’re empowered by technology designed to make planning faster, smarter and more precise—not replaced by it. Access tools that help teams work smarter, uncover growth opportunities and deliver planning with precision.
Firm advisors
  • Core Technology Suite. Salesforce for CRM, eMoney Advisor for financial planning, Orion for back-office operations and Nitrogen (formerly Riskalyze) for risk alignment.
  • Next-Generation Solutions. Tools like Holistiplan allow advisors to generate personalized tax reports in seconds, identify actionable opportunities and deliver detailed scenario analyses with speed and precision.
  • Estate Planning Simplified. Vanilla’s all-in-one platform streamlines the estate planning process, uncovers tax-saving strategies and enables advisors to deliver personalized guidance.
Independent advisors
  • Plug into enterprise tech. Access a full tech stack without managing vendor contracts.
  • Scale your efficiency. Multiply your team’s capacity with automation and AI-enabled tools.
Technology accelerates

Advisors to advisors

You’re never isolated—tap into a deep bench of colleagues who are specialists in their fields:
Advanced tax planning. Strategies to help minimize income, estate and capital gains taxes.

Estate and legacy planning. Comprehensive wealth transfer and legacy strategies.

Risk management and asset protection. Tailored insurance and risk solutions to help safeguard client assets.

Investment banking and business valuation. Through Woodbridge, a Mariner company, teams offer business valuations, investment banking and advisory services.

Firm advisors
  • Colleagues by your side. Tax, estate, insurance and valuation experts embedded in the same culture.
  • Seamless service. Extend client reach instantly, without outsourcing.
Independent advisors
  • Bench strength on demand. Add a team of specialists your practice could never hire outright.
  • Competitive reach. Compete for more sophisticated clients by offering institutional-level services.

Real support, right next to you

Mariner specialists aren’t thirdparty vendors—they’re colleagues.

Advisor development

Advisor support extends beyond specialists—it’s built into how we develop talent and teams. Growth means more than scale; it’s about cultivating stronger advisors and stronger practices.
Through on-demand learning, live training, coaching and firmwide events, advisors tap into a culture of collaboration and shared success. This development ecosystem helps teams sharpen skills, adapt to client needs and accelerate business growth—and our momentum continues to grow.

In recent years:

Firm advisors
  • More than 800 advisors have joined Mariner8
Independent advisors
  • Over 350 independent advisors have affiliated with Mariner—and roughly 25% from wirehouses9

Winning the Growth Game

In wealth management, scale has always been the barrier to growth. That old challenge of needing scale to achieve scale? Mariner has built infrastructure to address this challenge.
As an advisor with Mariner, you can leverage our infrastructure to compete for and serve high-value clients—without the burden of building everything on your own.

But scale alone isn’t enough. True growth requires a culture that attracts and retains exceptional people—both clients and associates. At Mariner, growth is powered by collaboration, not competition. Advisors thrive in an environment built on shared success, where innovation, mentorship and support fuel long-term relationships.

Imagine what you could achieve at a firm where client retention is more than 98% and internal retention is more than 94%10— proof that advisors aren’t just growing their businesses; they’re building a business in a culture that values people as much as performance.

The opportunity ahead is clear. As McKinsey confirms, demand for fiduciary, human-delivered advice is rising faster than the industry can supply it. We believe we’re uniquely positioned to meet that moment—unlocking greater growth, deeper client relationships and long-term success.

Culture

A culture where people and partnerships thrive

98% Client retention

94% Internal retention