The custody landscape for Registered Investment Advisors (RIAs) is undergoing a quiet but significant transformation. A new industry report reveals that by 2025, 6,253 RIAs are now working with multiple custodians, a sharp increase from 5,938 just a year earlier. That figure now represents nearly 30% of all advisory firms, marking a shift in how advisors think about risk, service, and operational resilience.
For years, many RIAs relied on a single custodian to safeguard client assets and handle the operational backbone of their business. But as digital platforms evolve and markets face heightened volatility, cracks in the one-custodian model are becoming clearer. Service outages, rigid technology stacks, and a lack of flexibility are among the key concerns pushing firms to diversify custody relationships. The trend reflects a growing realization: custody isn’t just a back-office function—it’s a strategic choice that can make or break client trust.
This wake-up call is reshaping expectations across the industry. RIAs now want more than basic safekeeping of assets; they’re demanding reliable, full-service custody providers who can scale with their growth and adapt to shifting client needs. The message is clear—custody innovation can no longer lag behind advisor expectations.
At Austin Capital Trust (ACTC), custody has been reimagined as a platform for advisor empowerment. The firm’s custody services are designed to minimize operational drag while giving RIAs the confidence that every aspect of asset management is covered. From asset servicing—handling corporate actions, dividend distributions, and income collection with precision—to reporting and reconciliation tools that ensure transparency and accuracy, ACTC delivers custody as a seamless, advisor-first experience. For firms that also manage employee benefit plans, ACTC integrates plan asset management, contribution tracking, and compliance oversight, bridging investment and administration under one roof.
As more RIAs diversify their custody relationships, the winners in this evolving landscape will be those providers who see custody not just as infrastructure but as a strategic partnership. The surge in multi-custodian adoption is a signal: advisors want resilience, choice, and trust. And the firms that deliver on those demands will shape the future of custody in wealth management.
