The assets managed by SEC-registered investment advisors increased significantly in the past year, but with barely any growth in the number of RIAs.
That's according to the 13th annual Evolution/Revolution report, compiled by the Investment Adviser Association and National Regulatory Services, which found that SEC-registered investment advisors were managing $54.8 trillion in assets as of April 12, 2013, up substantially from the $49.4 trillion reported in July 2012.
The total number of SEC-registered RIAs increased slightly from 10,511 last year to 10,533 in April. In 2011, there were 11,539 RIAs registered with the SEC.
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