 Unless a firm is growing by at least 10% a year from new business development, there is a risk of rising and falling with the market and just stagnating.”Philip Palaveev, chief executive, The Ensemble Practice. |
Advisers boost assets by 21%, helped by new clients, market gains
Liz Skinner | InvestmentNews, September 2014
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Summary: The latest performance results are in, and 2013 was a great year to be in the financial advice business.Financial advisory firms boosted assets under management last year by 21% to an average of $502 million, the 2014 InvestmentNews Financial Performance Study of Advisory Firms found. That's up from $414 million in 2012. AUM, in fact, has increased an average of 20% every year since 2009.
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