As RIAs continue to capture more market share, asset managers and fund companies are planning to fill out their sales teams in order to capture the lucrative market.
Cerulli's data expects RIAs to be managing 28 percent of the investment market by 2018.
Asset managers increased the headcounts for their RIA-specific sales teams by 17 percent between 2013 and 2014, and 42 percent are saying they plan to increase their firepower this year, specifically for targeting the RIA channel, according to a new survey from kasina, a data provider for the financial services industry.
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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.
