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Last year proved to be tougher on Wealth deposits growth than in 2024 – 3% versus 7% (see chart). That was in part because of larger tax–season outflows, which slowed balance replenishment and pushed in-year net positive growth to late Q4.
Source: Curinos Wealth Deposit Analyzer
Beyond tax flows, these factors drove the slower growth:
- CD yields were well below the 5% consistently seen in 2024 when CD balance growth was 23%. As a result, net CD growth was -6% and retention flagged as CDs matured from higher yields.
- Acquisition decreased, from almost 18% to less than 15%. Both client and new-account acquisition declined year over year.
- Inflows to existing accounts (augmentation) lagged slightly, and outflows from existing accounts were higher, resulting in a -2.7% net change to existing versus +1.3% in 2024.
- Bottom-tercile performers experienced runoff totaling -6%, with many firms still struggling to recapture deposits that had run off because of cash-sorting in 2023.
But despite the slower growth, 2025 displayed some bright spots:
- Top tercile Wealth deposits portfolios grew by an impressive 12%. FIs leading the pack often had higher levels of checking adoption (most often driven by advisors), discipline around exception pricing, and clear strategies for dealing with CD maturities.
- Attrition was lower than the prior year at both the client and account levels (11.1% in 2025 vs 11.7% in 2024).
Here’s how Curinos’ proprietary forecasting models see 2026:
- Stiff competition for Wealth deposits will persist.
- Seasonality will remain true to form, with balances building in Q1, followed by outflows for taxes in Q2.
- Product mix will continue to shift away from CDs as rates ease.
- Rate sensitivity will abate as convergence between deposits and money funds rates continues.
Our take? While most firms aspire to outpace growth, variability in performance will continue to be highly correlated to advisor engagement and effective pricing strategies.
