Total stock and bond mutual fund and ETF assets distributed by independent/regional broker-dealers and registered investment advisors grew twice as fast as those sold by wirehouses in 2012.
New data from Access Data, a Broadridge Financial Solutions company, also found that long-term mutual fund and ETF assets with independent/regional broker-dealers and RIAs accounted for more than $3 trillion or about 40 percent of long-term mutual fund assets held on the books of third party distributors at the end of 2012.
The assets held by independent/regional broker-dealers and RIAs grew 33 percent and 32 percent, respectively, in 2012.
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