RIA firms – and their assets -- are booming.

Assets under management among SEC-registered advisors nationwide increased 12.6% to $61.7 trillion in April, according to the 14th annual Investment Adviser Association and National Regulatory Services Evolution/Revolution report released Tuesday. In order to register with the SEC, advisors need to have a minimum of $100 million in assets under management, which was raised from $25 million following the implementation of the Dodd-Frank Act, passed in 2010.

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