Cerulli Associates said early Monday that client assets custodied witth RIAs should make up about one-quarter of industry assets by next year. “The RIA channel’s growth has outpaced the industry and is drawing increased interest by asset managers,” said Tyler Cloherty, associate director at Cerulli Associates, in a statement. “There are a number of attractive distribution partners emerging.”
RIAs and dually registered advisors had about 18.6% of the advisor market share in 2010, the research group says. But that share should hit 24.7% by late 2014.
The growth of the RIA and dually registered channels is likely to continue to accelerate due to advisor movement and client choice,” Cloherty said. “Asset managers are expanding resources dedicated to the channel and anticipate future growth.”
In 2010, there was about $1.2 trillion in RIA assets for client accounts managed by roughly 27,930 RIAs. In 2011, that figure rose to about $1.4 trillion and 28,715, respectively.