Press Release (ePRNews.com) - EATONTOWN, N.J. - Jun 04, 2019 - Discovery Data, the leading financial services industry provider of data and analytics on firms and professionals, announced today that, for the first time in history, the number of registered investment adviser (RIA) reps has surpassed 400,000 and the number of RIA-only reps (not also broker-dealer) surpassed 100,000.
“The long-term growth trend in the RIA channel continues unabated, and our clients are clearly matching that change by adjusting strategy and shifting resources to be best positioned to benefit from this change,” stated Bob Herrmann, CEO of Discovery Data. “In particular, the independent retail RIA segment is maturing with a barbell effect, with the larger firm segment growing and institutionalizing its business models, while one and two rep firms continue to launch and persist.”
Discovery Data Insights has projected that the number of independently owned retail RIA reps will reach 110,000 by the year 2028 as the transition to RIA continues, while at the same time the traditional adviser channel continues to lose market share.
About Discovery Data
Discovery Data offers a consolidated view of the financial services and insurance industries, including all BD and RIA firms, over 725,000 reps, 2,200 trust companies and 1.8 million insurance agents. Access to our data is provided via subscription to an online portal and through our Salesforce app, custom API integrations and secure HTTPS and FTP sites. In addition, we are the industry leader in data hygiene services and experts in data-driven market insight, email marketing campaigns and outbound call center lead generation. Many of the world’s largest and most successful institutions rely on Discovery Data to understand the industry and to identify, reach and do business with firms and professionals throughout North America. For more information, please visit www.discoveryco.com.