Regulatory Compliance Watch compiled information from the 14,400 advisers who filed a revised Form ADV at the end of March. RCW Exclusive: An Industry Portrait Drawn From Form ADV Data. For those of you who do not subscribe, here a few pieces of data that caught my eye.
Registered investment advisers’ assets under management increased by 19% over the year to $121 trillion. It’s not clear if that is regulatory assets under management or some other AUM number from Form ADV. Of that, $43 trillion is in investment companies and $32 trillion is in pooled investment vehicles.
The average employee per firm was 62, while the median was 8 employees. To me that indicates that there is a big range of sizes in firms, with most being very small, while there are some enormous firms. Regulatory Compliance Watch did find a firm that had accidently said it had a million employees. When contacted, the firm realized it had made a mistake and that is should only be 130. The corrected data is in the average and median numbers.
Lots of other fascinating information in the story: RCW Exclusive: An Industry Portrait Drawn From Form ADV Data. (If you have a subscription)
