Registered investment advisers’ assets under management increased 13.4% from April 2009 to April 2010, or $4.6 trillion, according to the Investment Adviser Association/National Regulatory Services’ Evolution Revolution 2010 report.

The number of RIAs was also up: the Securities and Exchange Commission now has 11,643 RIA entities on the books, a slight increase from last year's 11,257, but David Tittsworth, executive director of IVA in Washington, D.C., said that increase in headcount isn’t large enough to account for much asset growth. “The was some growth, but not compared to previous years,” he said. “The direction of advisors’ assets is primarily a function of the markets doing better.”

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