Dually registered advisors enjoyed greater growth in assets under management than any other advisor-led distribution channel, new research reveals.
Cerulli Associates disclosed this finding in its latest report, “Advisor Metrics 2012: Behaviors, Preferences, and Channel Movement.” The report explores various facets of advisors’ businesses, including client and broker/dealer relationships, practice types and movement within the industry.
Dually registered advisors—SEC-registered RIAs who are also FINRA-registered independent broker-dealers—saw their channel’s assets under management grow by 19.1 percent in 2012, the report shows. By contrast, AUM of RIA-only advisors grew by 14.7 percent.
Cerulli projects that dually registered advisors will growth their market share of assets to 10.3 percent by 2014, up from an estimated 9.5 percent in 2013 and 8.7 percent in 2012. The gain in market share between 2011 and 2014 (2.4 percent) is exceeded only by the regional channel at 3.5 percent.