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- Title
Distribution channel effects on advisor managed investment performance.
- Authors
Heller, Jason E.; Cummings, Benjamin F.; Martin, Jason
- Abstract
This study focuses on the effects that business models have on advisor managed portfolio performance by attempting to determine if advisors at Registered Investment Advisory (RIA) firms produce higher net investment results compared with advisors employed at dually registered Independent Broker/Dealer (IBD) firms. Using data from one of the largest investment advisory platforms in the United States, we found qualified supporting evidence that advisors at RIAs outperformed advisors at IBDs in higher-risk portfolios through the use of Turnkey Asset Management Programs and Unified Managed Accounts.
- Subjects
UNITED States; INVESTMENT advisors; MARKETING channels; PORTFOLIO performance; PORTFOLIO management (Investments); BROKERS
- Publication
Financial Services Review, 2022, Vol 30, Issue 2, p145
- ISSN
1057-0810
- Publication type
Article
- DOI
10.61190/fsr.v30i2.3479