02.16.24
RIA Channel Cements Lead in Headcount and Firm Count
by: Cerulli Associates
Registered investment advisors (RIAs) experienced a burst of growth as new players entered the scene and existing participants continued to welcome new recruits, according to research from Cerulli Associates. Total assets in the RIA channel fell by 13% in 2022, yet the pace of growth in the number of advisors accelerated substantially. That momentum, according to the report, came as new RIAs broke into the industry and breakaway advisor teams continued to join the large incumbents. According to Cerulli, the number of retail-focused RIAs expanded by more than 11% in 2022, which included a large amount of new independent RIAs (12.3%).
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