Registered Investment Advisers (RIAs)

Registered investment advisers (RIAs) are firms that provide investment advice and asset management services under regulatory requirements, and they serve as a major distribution channel in the U.S. wealth management market. Industry assets under management have recently reached a record high, but growth in new clients and underlying business growth have slowed, leaving firms grappling with asset attrition, marketing and talent compensation. Meanwhile, Investcorp’s acquisition of a majority stake in Berger, signs that merger valuations may be peaking, and the launch of new services such as mortgages point to accelerating consolidation and business expansion. Tracking RIAs provides insight into capital flows, demand for wealth management and shifts in industry competition.