Data reported by the Investment Company Institute.

In a Q1 earnings call, CEO Jim Cracchiolo emphasized the firm's recruiting approach that seeks a "built, not bought" advisor workforce.
The latest Cerulli Associates study tracking investors' willingness to pay for financial advice offered a mix of potential challenges with new business opportunities.
The Bahnsen Group, founded in 2015 by a former Morgan Stanley team, has grown into a private wealth powerhouse with roughly 100 employees and offices in three states.
Raymond James spent more than $100 million to recruit and retain advisors in its latest quarter. CEO Paul Shoukry says he'd rather do that than buy another firm.
Jess Polito of Turkey Hill Management says she believes her firm is the only M&A advisory firm that exclusively uses retainer fees, rather than commissions.
Proceeds from the sale of Stifel Independent Advisors, aligned with declining litigation costs, helped drive firm-wide revenue to its second-highest level on record.