Advisers with more than $100 billion in assets experienced gains in assets under management of more than 14% annually over the past five years, far ahead of smaller advisers, according to a report on the adviser business by Investment Adviser Association and National Regulatory Services.
RIAs registered with the Securities and Exchange Commission now number almost 14,000, the report said. They manage $110 trillion in assets, and the number of clients they serve grew 17% in 2020, to 60.8 million.
In 2020, 59.8% of advisers served individual clients, the report found. Aside from investment companies and business development companies, private funds and other pooled vehicles were the second most common client type, with 38.7% of advisers having clients of that type.
The three most common types of institutional clients are pension and profit-sharing plans, charitable organizations and corporations. Roughly one-quarter of advisers provide services to each of these client types.
Compared to 2019, adviser offices were more likely to be in southern states and less likely to be in traditional financial centers.
While industry statistics pointing to a succession crisis can cause alarm, advisor-owners should be free to consider a middle path between staying solo and catching the surging wave of M&A.
New joint research by T. Rowe Price, MIT, and Stanford University finds more diverse asset allocations among older participants.
With its asset pipeline bursting past $13 billion, Farther is looking to build more momentum with three new managing directors.
A Department of Labor proposal to scrap a regulatory provision under ERISA could create uncertainty for fiduciaries, the trade association argues.
"We continue to feel confident about our ability to capture 90%," LPL CEO Rich Steinmeier told analysts during the firm's 2nd quarter earnings call.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
