Sales & Marketing | 11.08.23
RIAs Squeezed as Volatility, Inflation Dampen Asset Growth: Fidelity
by: Ryan W. Neal
Wealth management firms brought in considerably fewer assets last year than they have in recent history, according to Fidelity Investments’ 2023 RIA Benchmarking Survey. Organic asset growth was under 4% in 2022, the survey found, down from a high of 8.2% in 2021. Independent registered investment advisors remain challenged by inflation and market volatility, the research found. These factors resulted in a nearly 40% decline in assets under management from both new and existing clients, which drove the slowdown in organic asset growth.
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