‘Dramatic shifts’ from Dodd-Frank mean new advisor ‘importance’
September 24th, 2011“Dramatic shifts” in the investment advisor profession are forecast as advisors prepare for the Dodd-Frank Act, a provision of the federal financial service reform to be enacted next year.
The number of investment advisors decreased this year for the first time since 2001, although total assets under management (AUM) were reported at an all-time high May 1, according to an annual report by the Investment Adviser Association (IAA) and National Regulatory Services (NRS) on trends of the investment advisory profession. The report is based on Securities and Exchange Commission (SEC) data completed through May 1.
The total AUM reported were $43.8 trillion, a 13.7% increase from $38.6 trillion last year and the highest level of AUM ever reported. The
Tags: Advisor, Advisor ‘importance’
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