Financial Planning Magazine 2012
Over the past 30 years, the fee-based RIA space has grown by leaps and bounds, from zero to close to $2 trillion in cumulative assets under management. That number is still dwarfed by the $9.3 trillion that research firm Cerulli & Associates estimates is in the hands of full-service brokerages, insurers, trust companies and banks. But the figures look poised to eventually flip as RIAs work to address their top challenges: boosting their efficiency, customizing their technology and differentiating themselves from the competition…
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RIA Database, which compiled the rankings, determines its lists based on discretionary and nondiscretionary assets under management listed on SEC Form ADV. To capture independent, fee-only wealth managers, many large firms with registered reps or a high level of institutional assets were excluded. The list of top RIAs by growth ranks firms by AUM, inclusive only of those with assets that have grown 30% or more since Dec. 31, 2008. The list of the largest multi-family offices includes RIAs with registered reps that did not qualify for the list of top RIAs.
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