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Six things to know about how and where RIAs are growing

Wealth managers are being added at a high rate; California is king

Author Brooke Southall April 5, 2011 at 2:03 PM
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Julie Cooling: In 2009, we were seeing (on average 120-150) RIAs (of all kinds) new per month and 160-280 per month in 2010.

Women of Wealth Management

Mike Byrnes

Mike Byrnes

April 5, 2011 — 3:20 PM

It is interesting to see that the aggregate number of firms has stayed roughly static at around 29,000.

I thought the number of new firms would outpace the numbers of those that were acquired or just went out of business.

Thanks for sharing this interesting information.

Mike Byrnes, President
Byrnes Consulting, LLC

Jeff Spears

Jeff Spears

April 5, 2011 — 4:43 PM

Julie’s RIA data is the most accurate becuase her team looks at each RIA’s website to see what their business really does. Most of the RIA data we receive inflates the growth of true wealth management.
Julie’s firm is a good reality check that independent wealth management is growing BUT it is still small relative to the large financial services providers.
Hate to say that Sallie Krawcheck might be right…at least until the retention checks expire:)

Elmer Rich III

Elmer Rich III

June 28, 2011 — 4:17 PM

“We are easily convinced by data.” Nice work. This really is a tiny market segment in terms of numbers and AUM, especially if compared to brokers. If one factors in retirement by Boomer owners, it will likely shrink. It is just a whole lot easier to be a broker.

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