Registered Investment Advisors (RIAs) RIAs represent a unique opportunity for asset managers. A lack of understanding about how to penetrate this channel has kept the playing field even for all mutual fund firms. Whereas small to mid-size fund families may have a difficult time competing with the fund behemoths in other distribution channels, boutique firms can compete and thrive in the RIA channel if they understand what RIAs are looking for and how to communicate with them. Larger firms who establish a unique service model specific to RIAs may see their market share increase in the channel as well.

• RIAs managed nearly 2 trillion in assets at year end 2005. ^{1 Cerulli Associates}
• Mutual fund assets are projected to grow fastest in the RIA Channel ^{2 FRC and Merrill Lynch}
• Mutual funds are still the preferred investment vehicle used by RIAs comprising 50% of their product mix. This usage rate is higher than regional B/Ds (39.5%), national full service B/Ds (27.9%) or independent B/Ds (41.4%). ^{3 Cerulli Associates}