Membership in the Investment Management Consultants Association (IMCA) grew 7 percent over the past year and has topped 9,000, an increase fueled in part by more independent financial advisors joining the association and earning IMCA certifications, the organization announced Thursday.
Membership has increased each year since the founding of the Denver-based organization in 1985, says spokesman Ryan Hoffman. The current membership is a 7 percent increase over the January 2012 total of 8,400.
IMCA members manage more than $1.9 trillion and average $327 million in assets under management, according to IMCA and Cerulli Associates. IMCA is a nonprofit, professional association and credentialing organization.
Thirty-seven percent of IMCA members work at national wirehouses, 29 percent are independent advisors, 14 percent are registered investment advisors, 12 percent are independent broker–dealers, and 3 percent are dually registered. More than 90 percent of IMCA members provide fee-only or fee-based advice.