RIA Growth Still Early, Positive for Equity ETFs

Thu May 14 2026

Industry leaders gathered at the Goldman Sachs RIA Professional Investor Forum suggest the significant growth seen in independent Registered Investment Advisors (RIAs).

Goldman Sachs: RIA Growth Still Early, Positive for Equity ETFs

According to an ETFTrends report, leading industry figures at the Goldman Sachs RIA Professional Investor Forum highlighted that the expansion of Registered Investment Advisors (RIAs) is still in its nascent stages, with substantial future growth anticipated. This ongoing shift in the financial advisory landscape, particularly the movement of clients from traditional banks to independent advisors, carries significant implications for the broader investment ecosystem, including specific exchange-traded funds (ETFs) such as JUST.

What Happened

During the Goldman Sachs RIA Professional Investor Forum, several prominent CEOs within the financial advisory space convened to discuss the trajectory of RIAs. Their consensus was that the surge in RIA adoption and influence is not nearing its peak but rather is just beginning. A key driver identified for this accelerating growth is the independent decision by clients to defect from conventional banking institutions in favor of independent advisory services. This trend suggests a fundamental reshaping of how individuals seek and receive financial guidance, favoring the more personalized and often fee-only structures offered by RIAs.

Why It Matters for ETF Investors

The continued growth of RIAs is a material development for ETF investors for several reasons. RIAs frequently favor ETFs due to their transparency, cost-efficiency, and flexibility in portfolio construction, aligning well with the fiduciary duty many RIAs operate under. As more assets flow into the independent advisory channel, a greater proportion of those assets are likely to be allocated to ETFs across various asset classes. This shift can translate into increased demand and liquidity for a wide range of ETFs, potentially benefiting funds that align with RIA investment philosophies, such as ESG-focused options or broad market exposures. For an ETF like JUST, which focuses on U.S. large-cap equities with an ESG screen, this trend could be particularly supportive given the increasing client demand for both independent advice and socially responsible investing.

Affected ETFs

While the article does not mention specific ETFs by name, the broader trend favors ETFs that are popular choices among RIAs for their cost-effectiveness and transparency. The JUST ETF (Goldman Sachs JUST U.S. Large Cap Equity ETF) is a pertinent example within our database. Given its issuer, Goldman Sachs, which hosted the forum, and its focus on U.S. large-cap equity with an ESG strategy, JUST aligns with typical RIA preferences for well-diversified, transparent, and often values-aligned investment vehicles. The anticipated increase in assets under RIA management could contribute to sustained demand for such equity-focused ETFs.

Sector / Classification Impact

The most direct impact of accelerating RIA growth is likely to be felt across the equity asset class, particularly within U.S. large-cap segments. RIAs typically construct diversified portfolios, with a significant allocation to equities to meet long-term growth objectives for their clients. As more clients transition to RIAs, the aggregate demand for equity exposure via ETFs is expected to rise. This trend also reinforces the broader category of "Large Cap Growth Equities" and strategies such as "ESG," as RIAs often incorporate these themes into their client portfolios. The move towards independent advice also underscores a preference for more sophisticated, tailored investment solutions, which ETFs are well-positioned to provide.

Bottom Line

The ongoing, and indeed accelerating, growth of the Registered Investment Advisor segment represents a significant structural shift in the financial advice industry. Driven by clients seeking independence from traditional banking, this trend is likely to sustain and increase demand for ETFs, especially those offering cost-effective and transparent exposure to core asset classes like equities. ETF investors should recognize this shift as a potential tailwind for the broader ETF market as RIAs continue to shape modern portfolio management.

Source: ETFTrends — https://www.etftrends.com/ria-growth-just-getting-started-ceos-say/

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Source: https://www.etftrends.com/ria-growth-just-getting-started-ceos-say/