Staffing & Culture | 11.08.23

RIAs, Hybrids Dominate Other Channels in Headcount, Asset Growth

by: Financial Advisor Staff

Advisor headcount at independent registered investment advisor (RIA) firms continues to grow faster than in any other advisory channel, despite large investments in technology and support at top wirehouses, according to research firm Cerulli Associates. A recent survey found that the number of independent RIAs firms grew 2.4% annually over the last decade, while the number of advisors at those firms grew 5.2%. As of the end of last year, there were 18,558 retail-focused RIAs with 78,282 advisors and $7.1 trillion in assets under management, the survey found.

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