Assets under management and state-registration among RIAs are up this year, with Dodd-Frank Act requirements resulting in a major industry shift.

Total regulatory assets under management reported by all investment advisors as of April 2013 grew to $54.8 trillion from $49.4 trillion in July 2012, according to new research by the Investment Adviser Association and National Regulatory Services. While the total number of SEC-registered investment advisors increased only slightly, from 10,511 in July 2012 to 10,533 in April 2013, the big shift occured among advisors switching to state registration. 

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