Investors Capital Advisory now has more than $1 billion in assets under management (AUM).
Investors Capital Advisory is the RIA division of Investors Capital Corp., a subsidiary of Investors Capital Holdings. It previously reached the $1 billion mark in August 2008.
ICA’s Fund Managed Account Program, a wrap account program, has just exceeded $100 million in AUM, the company also reports. (Funds in the F-MAP program are managed by ICA’s home office rather than by individual advisors.)
“The rise in assets under management in late 2009 and 2010 resulted from an increase in Investors Capital registered representatives interested in working with clients on an advisory basis as well as an increase in asset values from more favorable market conditions,” the company said in a statement.
For the quarter ended December 31, 2009, the firm – which includes some 550 independent advisors – had a 24.5% profit margin increase from advisory services vs. the year-ago quarter.