Core Insights - The trend of advised households consolidating their financial services under one firm has increased significantly, with 25% of advised households with $1 million to $10 million using one firm compared to 18% of unadvised households [1][2] Group 1: Industry Trends - The percentage of advised households using a single financial firm has spiked this year, reaching levels not seen since 2013, indicating a shift towards asset consolidation [2] - More American consumers are seeking to manage their banking, retirement savings, investing accounts, and insurance policies all in one place, reflecting a broader trend in the financial services industry [4] Group 2: Client Behavior - The number of households with less than $10 million in assets working with one firm has increased from 45.2 million to 56.7 million year over year, demonstrating a growing preference for simplified asset management [4] - Households with $1 million to $5 million in investible assets holding accounts at a single firm have doubled from 11% to 22% between 2024 and 2025, while those with over $5 million jumped from 9% to 22% [4] Group 3: Challenges for Firms - The complexity of managing multiple accounts across different firms can lead to difficulties in coordination, especially during tax season, which is driving clients to prefer a single firm for their financial needs [3]