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RIAs Experience Boom in Business

July 2, 2012
[ by Melanie Gretchen ] RIA job candidates might want to update their resumes because increased growth among registered investment advisory firms will lead to active hirings over the next 6 months, according to Advisor Index Survey by St. Louis-based Maritz Inc.  Almost 40% of registered investment advisory firms expect to add staff, among 502 RIAs interviewed over the phone interviews from March 29 to April 9, including independent RIAs who custody with TD Ameritrade and other independent RIAs around the country. The study discovered an average annual revenue growth rate of 15% and demonstrated that 57% of new client assets continue to come from full-commission firms, up from 55% in 2011.  To this end, 9 out of 10 advisers reported an increase or steadiness in the total number of clients over the past year.  Of those soliciting new hires, 25% said that they will look to hire a female adviser to attract and retain female investors. For further details, go to [Financial Advisor Magazine, 6/27/12].