Advisors between the ages of 45 and 54 have the largest share of investments exceeding $500 million in assets under management, according to new research.
Cerulli Associates discloses this finding in a new report, “RIA marketplace 2013: The Changing Landscape of a Maturing Industry.” The annual report, in its third iteration, examines RIA practices, portfolios, products in use and drivers of growth.
The survey indicates that more than one third of RIA-affiliated financial professionals between the ages of 55 and 64 control 37 percent of $500 million to $999 million in assets under management. Similarly, RIA-affiliated advisors in this age group nab the largest share of AUM topping $1 billion.
Advisors between the ages of 55 and 64 have the largest share of investable assets for other AUM brackets except one: In the $250 million to $499 AUM bracket, advisors between the ages 35 and 44 surpass their colleagues at 28 percent of AUM, the report reveals. In the aggregate, however, advisors older 55 garner the largest share (33 percent) of AUM.