Still, net new money flows to RIA custody providers seem to bolster the view that the RIA channel has prospered at the expense of wirehouses.

Fidelity, which says it onboarded a record 191 broker teams to its RIA platform in 2009, has seen "several billion dollars" a year in net new money under management from wirehouse brokers since 2004, according to a spokesman.

Charles Schwab Corp. (SCHW), which runs the biggest RIA-custody business, is more specific about net new money, but hazier on its origins. In 2008 and 2009 its Advisor Services unit took in $101.5 billion in net new assets as its overall assets under management went from $570 billion to about $590 billion.


Copyright (c) 2010, Dow Jones. For more information about Dow Jones' services for advisors, please click here.  

First « 1 2 » Next