For the first time registered investment advisers (RIAs) have grown at a faster pace than all other retail channels, increasing by 12% in the first half of 2014, according to Broadridge’s Fund Distribution Intelligence tool.
Increasing by almost $200 billion above that attained towards the end of 2013, data showed RIAs to account for $1.8 trillion in long-term mutual fund and ETF assets under management.
The data, released by Broadridge’s Access Data, has also revealed that the total third-party long-term mutual fund and ETF assets under management (AUM) in the first half of 2014 increased by 9.8% from $8.5 trillion at the end of 2013 to $9.3 trillion today. This means that combined, RIAs, independent/regional broker dealers, full service broker dealers and discount brokers now maintain a total of nearly $6 million in Assets under Management, which equates to 64% of all third-party distribution of long-term mutual funds and ETF assets.
Access Data’s senior vice president, Frank Polefrone, states: “As investors continue to gravitate toward independent advice models, we expect to see sustained growth in the RIA channel. For the first half of 2014, the RIA channel had the largest increase in absolute dollars for both ETFs and long-term mutual funds across all channels.”
Data Shows 12% Growth in Mutual Fund and ETF AuM Amongst RIAs
For the first time registered investment advisers (RIAs) have grown at a faster pace than all other retail channels, increasing by 12% in the first half of 2014, according to Broadridge’s Fund Distribution Intelligence tool.