Midsized RIA firms are the new sweet spot for managers of mutual funds and ETFs, according to a new report. That means there is likely more opportunities for advisors in these midsized firms to get some extra help from the money managers' sales arms.
According to new research from Cerulli Associates, the growth of RIAs is changing the priorities of the asset managers' sales forces. Cerulli estimates that RIAs will have grown their market share to 14% market of advisor-held assets by the end of this year. Money managers have traditionally been targeting RIA firms with assets under management of $500 million or more, neglecting smaller firms.
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