News | 11.16.20
RIA Industry Sees Record-Breaking Growth in Firms and Assets
The 2020 Evolution Revolution Report shows that the number of Securities and Exchange Commission-registered investment advisors reached a record high of 13,494 advisory firms. That is a 3.9 percent increase from last year. Furthermore, assets rose 16.2 percent to $97.2 trillion. The Investment Adviser Association (IAA) and National Regulatory Services, co-sponsors of the report, say this growth occurred despite over 87 percent of the companies are considered small businesses. IAA President and CEO Karen Barr said, “In every key metric—from industry size to assets under management to high quality jobs created—the investment advisor profession showed solid growth, underscoring our critical value to investors, to the economy and to our capital markets."
Read the full article on Financial Advisor.