Financial Advisor IQ: RIAs Attract Two Million More Clients: Study
An article from Financial Advisor IQ cites optimistic findings from a recent study of SEC registered investment advisors by the Investment Advisor Association and the National Regulatory Services. As shown in the study, over the past year, the number of advisor firms jumped to 5.3% - its biggest jump in four years. The number of clients served by RIAs grew to nearly 30 million, while assets under management grew at an even faster rate rising 8.1% to a total of $66.7 trillion.
According to David Mullins, a financial advisor and founder of David Mullins Wealth Management, “The great wealth transfer,” in which $30 trillion is expected to change hands over the course of 30 years, is what is putting all that money in motion. Mullins also adds that this trend will likely continue.
Click here to read more about the expected growth among RIAs.