The 2019 Evolution Revolution report is an annual joint study by the Investment Adviser Association (IAA) and National Regulatory Services (NRS), which is integrated with Accuity.
The report offers the most comprehensive profile of SEC-registered investment advisers, containing data on 12,993 firms that manage $83.7 trillion for more than 43 million clients this year and employ a total of 835,124 workers.
This year’s report comes in the wake of the SEC’s adoption of its Standards of Conduct rulemaking package, which, after two decades of deliberations, is intended to raise the standard of conduct for broker-dealers, reaffirm the fiduciary duty under the Advisers Act, and reduce investors’ confusion as to the services offered by and standards applicable to their financial professional.