RIAs

Raymond James is going after more top advisors -- and it's changing its payout structure to do so.

Total stock and bond mutual fund and ETF assets distributed by independent/regional broker-dealers and registered investment advisors grew at more than twice the rate compared to the wirehouse channel during 2012, according to newly released data from Access Data.

Founded in 2009 aiming to serve women with online budgeting tools and financial advice, LearnVest morphed into a mass-market RIA firm last year and now has its eye on growth.

Among advisory services competing for the wealthiest clients, RIAs and multi-family offices are winning.

The firm's growth spurt has brought Washington Wealth’s total AUM, which was at a modest $100 million in December 2011, to well over $1 billion.

RIAs like to think of themselves as starkly different than their counterparts in the wirehouse channel -- in terms of fee structure, fiduciary responsibility, independence and, often, income. But a new study casts some doubt on the income part of that equation.

Average assets under management for financial advisors in North America hit a record $81 million last year, according to a new report.

Increased compliance requirements, regulatory changes, and an aging client base are just some of the obstacles RIAs will face this year, but advisors still see a bright future for their assets under management.

The dually registered and registered investment advisor channels were the fastest-growing for assets under management from 2010 to 2011, Cerulli Associates reported today -- but the two are still dwarfed by assets in the wirehouse channel.

The three-year-old Tampa-based broker-dealer and RIA has opened a new office in Sebring, Fla., bringing on 17-year Merrill Lynch veteran Kelly Connelly as a financial advisor and first vice president of investments.