May 1, 2024
Contact: IAA VP of Communications & Marketing Janay Rickwalder.
Washington, D.C./New York – The number of SEC-registered investment advisers reached a record high in 2023, according to preliminary data from the Investment Adviser Industry Snapshot, a joint effort by the Investment Adviser Association (IAA) and COMPLY.
The survey showed continued growth in the number of asset management clients, with 56.7 million clients in 2023, a 4.4% increase over last year. The number of total clients also increased by 3.5% over last year.
Assets under management also gained traction, rebounding 12.6% in 2023 and matching the record high of $128.4 trillion set in 2021.
And, for the first time ever, non-clerical employment passed the 1 million mark, growing 3.6% and reaching a record high of 1,006,471 employees.
“The continued growth of the investment advisory industry in 2023 demonstrates strong demand for the services provided by advisers,” said IAA President and CEO Karen Barr.
The complete Investment Adviser Industry Snapshot report will be released in June.
About the Investment Adviser Association
The Investment Adviser Association (IAA) is the leading trade association representing the interests of fiduciary investment adviser firms. The IAA’s member firms collectively manage more than $35 trillion in assets for a wide variety of institutional and individual investors. In addition to serving as the voice of the advisory profession on Capitol Hill and before the SEC, DOL, CFTC and other U.S. and international regulators, the IAA provides extensive practical and educational services to its membership. For more information, visit investmentadviser.org or follow us on LinkedIn and YouTube.
About COMPLY
As a global market leader in regulatory compliance solutions, COMPLY combines the power of regulatory technology, services, and education to empower Chief Compliance Officers (CCOs) and compliance professionals to easily navigate the regulatory landscape. COMPLY enables firms to scale their growth while remaining vigilant in their compliance efforts by providing solutions designed to manage the burden of complex compliance tasks. Our deep bench of industry expertise – which includes expansive knowledge in technology enablement and regulatory compliance protocols and processes – supports more than 7,000 clients, including investment management firms, private equity firms, hedge funds, broker-dealers, registered investment advisers, and other financial service sector participants.
COMPLY continually supports clients in their work to proactively address core compliance challenges – minimizing risk, addressing critical priorities, and meeting new demands as the industry evolves and the firm scales. Learn more at COMPLY.com.
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