IAA Report Shows Significant Asset Concentration in a Few Advisers
The Investment Adviser Association has released its annual report analyzing the investment adviser industry based on a review of Form ADV Part 1. The report shows significant concentration of assets in only a few advisers. The 90 largest advisers (managing greater than $100 Billion in assets) manage nearly half of total assets in the industry and those with at least $10 Billion in assets (664 firms) manage over 82% of all assets. The report shows an industry of small businesses: 74% of advisers manage less than $1 Billion in assets and 58% have fewer than 10 employees.