Market appreciation alone doesn't explain the continuing growth of the RIA channel. Overall, there was a 21% increase in the total assets under management of all included firms in the InvestmentNews RIA Data Center, from $1.1 trillion at the same time in 2014 to $1.3 trillion this year. Ten states in particular saw asset growth of over 40% — Massachusetts, Texas, Maryland, Virginia, Missouri, Tennessee, New Hampshire, Utah, Nevada and South Dakota — while no others saw growth of over 30%. Below, we've prepared a map to demonstrate exactly where the wealth is spread out across the country, as well as the top fee-only RIAs in each state.
We just completed our first of two yearly updates to our RIA Data Center, which, using SEC data, tracks all fee-only investment advisers in the RIA space. This is the more important update of the two we conduct, as the SEC requires all firms to file an annual update of their Form ADV Part 2 within 120 days of their fiscal yearend – typically culminating in a rash of updates in the spring. Our fall update detects significantly less change in the makeup of the database.
The biggest firms that appear in our database account for a combined $300 billion in assets under management. That's 23% of the total AUM among all 1,600+ fee-only RIAs in our database – making them true RIA giants. The list:
Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.
From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.
"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.
Chair also praised the passage of stablecoin legislation this week.
Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.
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.
