Financial advisors are consolidating more of the assets they manage with their primary mutual fund provider, according to a study from Market Strategies International.
On average, advisors have $42 million invested in mutual funds, up from $36.8 million last year. But as the overall value of assets in mutual funds has increased, the number of fund providers used by advisors has decreased.
Last year, advisors reported using an average of 10.8 different fund providers. This year, the number dropped to 10.1.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
