MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, May 18, 2004 State of the Investment Advisory Profession The Investment Counsel Association of America and National Regulatory Services issued their annual report on the state of the investment advisory profession Tuesday. Here are some of the findings: There were 8,302 SEC-registered investment advisers as of April 2004 managing $23.4 trillion in assets. The number of advisers was up from 7,852 last year. Assets under management showed substantial growth from last year's $20.6 trillion. Those assets are still concentrated at large firms though. Just 3.7 percent of registered advisers manage 82 percent of discretionary assets. The number of advisory firms organized as corporations decreased by 3 percent. The number organized as limited liability companies increased by the same amount. Half of all advisory firms employ between one and five people. More than half (57 percent) have no registered representatives. Thirty-two percent have broker-dealer affiliations. There are small changes in how advisers are getting paid. More are charging hourly fees (33 percent in 2004, 32 percent in 2003, 31 percent in 2002) and fixed fees (41 percent in 2004, 39 percent in 2003, 37 percent in 2002). The number of advisers who use commissions as compensation for advisory services has stayed at 12 percent for the past three years. Printed from: MFWire.com/story.asp?s=7222 Copyright 2004, InvestmentWires, Inc. All Rights Reserved |