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More And Wealthier Clients Boost RIA Biz
The registered investment advisory business is booming, as RIAs have seen major indicators rise as the result of attracting more, and wealthier, clients. According to the Rydex Advisors Benchmarking Survey, median AUM at RIAs grew 18% in 2005, while median revues climbed 22% and median earnings per RIA rose 30%. Median profit margins for RIAS stood at 29%,up from 22% in 2004. Rydex also reports that average client asset minimums increased by 18% to $408,000 while advisers spent more time with clients, 27% of their time, compared with 19% in 2004.