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Q: Registered investment advisors ( Answered,   0 Comments )
Subject: Registered investment advisors
Category: Miscellaneous
Asked by: larry7-ga
List Price: $100.00
Posted: 20 Nov 2006 12:10 PST
Expires: 20 Dec 2006 12:10 PST
Question ID: 784291
how many registered investment advisors (RIAs) are there in the U.S.,
both SEC registered and state registered? What % of these RIAs are
affiliated with: wirehouses; regional brokerage firms; independent
broker dealers; banks; and, insurance company broker dealers?
Subject: Re: Registered investment advisors
Answered By: bobbie7-ga on 20 Nov 2006 13:41 PST
Hello Larry7,

According to Cerulli Associates ?at the end of 2004, the whole arena
of advisers consisted of about 280,000 individuals.  RIAs and 81,412
reps at independent broker-dealers, 47,623 reps at insurance
broker-dealers, 73,394 brokers at wirehouse firms, 22,725 brokers with
bank-owned brokerage houses and 22,618 advisers with regional

FSO Advisor?s Weekly
May 15, 2006 Edition

According to an LPL Financial Services presentation by Mark S. Casady
President & CEO, November 2, 2005:

Financial Advisors by Channel
Channel                        Number of Advisors
Independent Broker / Dealers   106,688
Wirehouse                       70,805
Insurance                       49,795
RIA                             38,068
Bank                            18,280
Regional                        16,342
Total                          299,978
2004 Year End

Source (page 45)
Source: Cerulli Associates - Intermediate Markets report 

Download here:

Search terms:
Number of registered investment advisors
Wirehouses  regional brokerage firms independent broker dealers
Banks insurance company broker 

I hope the information provided is helpful!

Best regards,
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