Most independent RIAs should plan to invest somewhere around 5–10% of revenue in marketing in 2027, counting the value of advisor and staff time, not just the invoices. The bigger question isn’t the total. It’s where the money goes, and whether it buys systems that bring clients in without the founder doing all the work.
The benchmark matters because most firms underestimate what they already spend. In the latest Kitces Research marketing study, the typical advisory practice spends about 7% of annual revenue on marketing, and most of that is the time of advisors and staff rather than hard-dollar spend.
How much should an RIA spend on marketing?
Start with your growth goal, not an industry average. A firm that wants steady 5% organic growth can lean on referrals and a well-kept website. A firm that wants to double new clients needs channels that work while advisors are with clients: search, AI visibility, content and a clear way to book a call.
A practical way to size the budget:
- Set the target: how many new clients, at what typical relationship size, do you want in 2027?
- Know your value per client: annual fee revenue per client multiplied by how many years clients usually stay.
- Decide what you’ll pay to win one: many firms are comfortable spending a fraction of first-year revenue to acquire a client who stays for a decade.
- Multiply: target clients × acceptable acquisition cost = your marketing budget, including time.
That number is usually larger than founders expect, and that’s the point. If the budget only works on paper because the founder’s evenings are “free”, it won’t scale.
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Where should the budget go at each stage?
Launching or breakaway RIAs
Spend on the foundations every prospect checks: a credible website, a complete Google Business Profile, one page written for your ideal client, and a steady LinkedIn routine. Directory listings and reviews can help, but agree the approach with your CCO first because of the SEC Marketing Rule.
Growing firms with steady referrals
This is where SEO and AI search pay off. Prospects referred to you will still Google you and ask ChatGPT how you compare. Pages for each client situation (business owners selling a company, executives with equity compensation, physicians) help you rank and get cited. Add an email nurture for prospects who aren’t ready yet, and start tracking which channel each new client came from.
Established, multi-advisor or multi-office firms
Move marketing off the founders’ calendars. A delegated marketer or specialist partner, local SEO for each office, thought leadership and selective paid search for high-intent terms let the firm grow without relying on one person’s network.
What should you stop spending on?
- Generic content that could appear on any firm’s site. It rarely ranks and AI tools rarely cite it.
- Website redesigns without a search plan. A new look that drops your old pages can cost you rankings (see the website migration checklist).
- Untracked sponsorships and events where you can’t tell whether a single client came from them.
How do you know the budget is working?
Track four numbers monthly: enquiries from your website, discovery meetings booked, new clients by source, and your cost per new client. Traffic is useful context, but a budget is working when cost per client falls or new-client revenue rises.
FAQ
Does the 7% figure include advisor time?
Yes. The Kitces figure reflects total marketing cost, and most of it is the time advisors and staff put in, not hard-dollar spend.
Should a referral-based firm still budget for marketing?
Yes. Referrals now research you online before they call, so your website, search presence and AI visibility decide whether a referral turns into a meeting. See SEO for RIAs.
When should we set the 2027 budget?
Before January. Search and AI visibility build over three to six months, so work started in Q1 pays off in the second half of the year.
Planning your 2027 marketing budget?
Book a 30-minute strategy call. We’ll look at where your firm shows up today on Google and in AI answers, and where your budget will move the needle fastest.
This article is for general information and isn’t legal, compliance or investment advice. Confirm any marketing changes with your CCO.