Registered investment advisors have had a good run over the past three years. And some 28% of RIA firms have experienced growth of more than 100%, according to a new study published by Fidelity Investments.

The study, “Fidelity RIA Metrics: Profiles of the Fastest Growing Firms,” looked at firms with at least $25 million in assets under management. The fastest-growing firms — those expanding by more than 100% — share common traits that contribute to their level of success.

These characteristics include an average tenure across the lineup of investment advisor representatives of nine years, $215 million in average assets under management and a greater tendency to be founded by a breakaway broker. Additionally, the fastest-growing firms tend to have more institutional clients and are more intently focused on achieving scale.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.