RIAs, wirehouses expect sweeping regulatory changes in 2026

Core Insights - Financial advisors anticipate significant regulatory changes in 2026 that could reshape wealth management operations and client services [1] Group 1: Regulatory Changes - Advisors expect a reduction in regulations within the wealth management industry, with 78% believing that rules granting retail access to private markets are likely to pass [6] - Regulatory clarity on digital assets and artificial intelligence (AI) is also anticipated, with 75% predicting changes to stablecoin regulations and 72% forecasting new governance for AI in investment recommendations [7] - A majority (60%) foresee a general loosening of enforcement and consumer protections, although 70% consider the end of quarterly public company reporting unlikely [7] Group 2: Economic Factors - Nearly 90% of advisors believe that tariff-induced volatility will continue into 2026, and most anticipate further interest rate cuts from the Federal Reserve [3][2] - Advisors are divided on potential policy changes affecting Social Security and Medicare, with nearly half expecting a significant rise in the FICA cap in 2026 [3] Group 3: Client Impact - Many advisors believe that scenarios such as raising the retirement age, cutting Medicare benefits, or increasing the FICA cap would generally harm their clients [5] - Despite concerns, a plurality of advisors view fewer regulations as a potential net positive for clients in the upcoming year [4]