Assets in separately managed accounts rose 25% in the first quarter from the year-ago period, to $736.4 billion, up from $590.1 billion, according to data from the Money Management Institute. From the previous quarter, SMA assets grew 8.6%, from $678.1 billion at the end of last year.

The average account size is now $322,422, up nearly 13% from $285,909 a year ago, while the total number of SMA accounts is now 2.27 million, up 9.1% from a year ago.

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