The RIA channel is growing rapidly as firms with more than $1 billion in assets continues to drive growth, according to a report from Cerulli & Associates.

“RIA channel growth has significantly outpaced industry growth,” Tyler Cloherty, senior analyst at Cerulli, said in a press release. “Firms with over $1 billion in assets tend to draw more of their assets from high-net-worth assets. These aggregator RIAs have been successfully recruiting advisors who want to focus on serving clients instead of running a business.”

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