A total of 529 RIAs signed with SEI Advisor Network in 2011, and the firm generated more than $5 billion in cash receipts — both record numbers for the firm, a provider of investment management outsourcing solutions.

The number of new advisors signed was 30% higher than a year earlier, according to SEI. The attraction has to do with RIAs’ need to outsource certain functions so they can spend more time with clients and stay competitive, according to the firm.

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