(wire)
2009 tough on most RIAs
Registered investment advisory firms (RIAs) struggled for the most part during 2009, with only five of the top 50 increasing their total discretionary assets for the year, according to research conducted by RIA Database for InvestmentNews.
Yet despite the overall trend, the combined discretionary assets for the 50 largest RIAs was up 14 percent year-over-year to $115.7 billion on Dec. 31.
Meanwhile, total assets, including assets not managed directly by the RIAs, rose 15 percent to $132.7 billion.
Yet despite the overall trend, the combined discretionary assets for the 50 largest RIAs was up 14 percent year-over-year to $115.7 billion on Dec. 31.
Meanwhile, total assets, including assets not managed directly by the RIAs, rose 15 percent to $132.7 billion.
