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RIA Channel Tops Growth in Managed Assets and FA Ranks

November 9, 2018

Compared to other advice business channels, the independent RIA channel had the most growth in 2017 in terms of professionally managed assets and the number of advisors, according to a recent Cerulli Associates report cited by FA magazine.

RIA assets reached $3 trillion last year, up 20.4% from the year prior, according to the report, the publication writes. The number of financial advisors in the RIA channel grew 4.8%, meanwhile, FA magazine writes, citing Cerulli.

In all, however, wirehouses still control the most assets, reaching $7.2 trillion by the end of last year, while assets in the retail direct investor platform reached $6.9 trillion, according to the report cited by the publication.

Across all channels, professionally managed assets in the U.S. grew 14.9% in 2017, passing the $46 trillion mark, Cerulli says, according to FA magazine.

The number of financial advisors in the U.S. grew to 311,305, an increase of 0.7% over the year prior, according to the report, the publication writes.

Ranks among retail bank broker-dealers grew by 2.7% and among regional and national broker-dealers by 2.1%, FA writes, citing Cerulli.

Wirehouse advisors still remain at the top in terms of the money they manage on average: while only 15% of all advisors are at wirehouses, they oversee 35.4% of all advisor assets, according to the report cited by the publication.

By Alex Padalka
  • To read the FA Magazine article cited in this story, click here.