The RIA industry continues to demonstrate strong long-term results, despite a challenging 2022, according to the 17th annual 2023 RIA Benchmarking Study released Thursday by Charles Schwab. About 1,300 advisory firms, representing more than $1.7 trillion in assets under management, participated this year.
The survey found the managed assets for the median firm dropped 7.1 percent, but revenue was a 4.1 percent increase in 2022 and clients grew 6.2 percent in 2022.
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