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The number of hybrid advisors, or those that are both registered as investment advisors with the Securities and Exchange Commission and as brokers with FINRA, is growing at a faster rate than the overall industry, reports InvestmentNews.
According to a recent Cerulli Associates study, the number of hybrid advisors grew 6.9% last year and assets in the channel increased 13%, reaching $1.4 trillion. In both cases, the growth outpaced the overall industry. Tyler Cloherty, a senior analyst at Cerulli, says the growth is fueled by the flexibility that comes with being registered with both regulators. Such advisors can collect both commissions and advisory fees.
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