What the RIA Industry Looks Like Now, in 10 Charts

The registered investment advisory industry grew by 2.1% in 2022, with 15,114 fiduciary investment advisors managing $114.1 trillion in assets for 61.9 million clients, according to the Investment Adviser Association and National Regulatory Services' just-released Investment Adviser Industry Snapshot report. "Over the past five years, over 22 million more individuals have engaged an investment adviser for asset management — a rate of growth in both the number of individual clients and assets of roughly 12% per year," Karen Barr, CEO and president of the IAA, said in announcing the report's findings.

While assets under management "declined for the first time since 2008 due to a vacillating economy, the investment advisory industry was resilient, with both the number of advisers and non-clerical employees climbing to a record high in 2022," the report states.