Survey: Wirehouses supply half of new RIA assets

A survey of 506 registered investment advisers finds half their new assets are coming from wirehouses and other broker-dealers.
FEB 05, 2009
Half of the new assets being gathered by registered investment advisers is coming from wirehouses and other broker-dealers, according to a survey released today by TD Ameritrade Institutional. The survey, conducted by telephone betwen Jan. 4 and Jan. 15, was based on responses from 506 RIAs who use Omaha, Neb.-based TD Ameritrade and other custodians. In addition, the survey found that 90% of RIAs have seen increased growth or no change in the number of new clients over the last six months. Forty-six percent said they plan to increase their marketing efforts to increase revenue. "Not only are RIAs seeing strong client growth, but current clients remain loyal," said Tom Bradley, president of TD Ameritrade Institutional.

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