The present disclosure is directed to a system for controlling a pitch angle of a rotor blade of a wind turbine. The system includes a pitch adjustment mechanism for adjusting the pitch angle of the rotor blade and a controller communicatively coupled to the pitch adjustment mechanism. The controller is configured to determine a wind asymmetry parameter based on an operating parameter of the wind turbine. The controller is also configured to determine first and second signal components of the wind asymmetry parameter, which are respectively indicative of a maximum load on a first wind turbine component and fatigue on a second wind turbine component. The controller is also configured to calculate a wear parameter based on the first and second signal components and initiate an adjustment of the pitch angle of the rotor blade based on the wear parameter.