Snapshot

• Morgan Stanley and JPMorgan Chase led this quarter with 226 and 210 fund additions, respectively.
  
• Goldman Sachs had the most churn: 219 fund removals, partially offset by 176 new additions.
• In Firms with $100B+ in AUM serviced, Goldman Sachs, Morgan Stanley, and Citigroup maintained strong dominance.
• Interactive Brokers and Bank of America rounded out the top five in new fund wins, with 153 and 135 additions respectively.
  

Here's how Radient supercharges your prime brokerage business :

Top 10 Prime Brokers by Total AUM of Firms Serviced

Top 5 Prime Brokers by Net Fund Additions

JPMorgan Chase & reported a higher level of client activity, especially in equity-related products.

Top 5 Prime Brokers by Fund Removals

This level of turnover underscores increasing competitiveness in the space—particularly among large institutions reassessing counterparty exposure, tech stack compatibility, and regulatory support.

Top Prime Brokers by Increase in AUM 

Growth with Net AUM Decline

Several prime brokers added new firms in Q1 2025 but still experienced a net decline in regulatory AUM, suggesting the loss of large institutional clients or ongoing de-risking.

These declines indicate that while client acquisition remains strong, retaining top-tier clients remains a key challenge. Losing a few billion-dollar relationships can erase the impact of many smaller wins.

Emerging Brokers to Monitor

While these aren’t large players in terms of relationships, their growing institutional footprint is notable.

Why This Matters for Prime Brokers?

• Benchmark your client acquisition and retention against competitors
• Identify which funds moved, where they went, and why
• Uncover trends in AUM shifts, client tier changes, and boutique encroachment
• Map out competitor wins — and respond strategically
  

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