Assets under management at the 500 largest advisors in the world rose 16% in 2009 to $62 trillion, after contracting 23% the year before, according to Towers Watson and Pensions & Investments.

This was the second-highest gain in assets in one year since the two organizations started the ranking in 1996. However, assets are still below 2006 levels, and half of these managers have been growing assets through acquisitions over the past five years, as opposed to via organic growth.

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