New research report highlights the value of holistic financial planning
NEW YORK, October 01, 2025–(BUSINESS WIRE)–Customization and tax management are key priorities for the vast majority of affluent investors according to a new research study authored by Cerulli Associates. Parametric Portfolio Associates, LLC (Parametric) engaged Cerulli to research and develop a report detailing the evolving role of customization within the U.S. retail wealth management industry. Customized at Scale: A Framework for Next-Generation Advisory Platforms reveals comprehensive tax-aware portfolio customization is shaping the future of wealth management and indicates that scalable, tax customization is rapidly becoming a baseline expectation not just for high-net-worth (HNW) clients, but increasingly for investors of all levels.
Report Key Findings
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Nearly 80% of affluent investors surveyed agree that account customization is important to meet their specific situations; close to 70% prioritize providers who help reduce their tax bill.
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Tax minimization is now the most important investment objective for HNW-focused practices with 73% considering it “very important.”
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Nearly half (47%) of financial advisors now offer tax planning services, with this figure rising to 53% among those serving clients with over $5 million in investable assets.
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Financial advisor-managed HNW client assets have surged from 49% market share in 2013 to 66% in 2023, totaling $20.6 trillion.
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82% of managed account sponsors rank improving tax management capabilities as a top three priority for platform development.
“Investors today expect the same level of customization from their financial services providers as they do from everyday tools that help them shop, eat and choose their preferred entertainment,” said Thomas Lee, Co-President and Chief Investment Officer, Parametric. “Our technology-enabled solutions go beyond traditional investment management to address a range of evolving client needs with hyper customization transforming how advisors work with clients at every life stage.”
This research reveals that tax management is no longer a point of differentiation for advisors and instead a baseline service.
Matt Witkos, Head of Intermediary Sales, Morgan Stanley Investment Management, noted that advisors increasingly need to address complex financial planning needs while maintaining their focus on tax management. “We have been leaders in tax efficient investing for nearly 65 years and through our affiliation with Parametric, we have expanded our highly customizable set of solutions to better address specific portfolio needs that vary as life circumstances change,” he said. “The ability to adapt investment strategies as investors’ lives change while also looking at the tax implications for possible efficiencies creates value and strengthens the advisor-client relationship.”
