For the second quarter, advisory assets inched ahead $71 billion or 3.1%. Net new sales of $60.3 billion were largely responsible for the growth in advisory assets as the market returned 0.1% according to the S&P 500.
During 1Q 2011 advisory assets increased $162 billion to $2.3 trillion representing a quarterly growth rate of 7.6%. In comparison, the S&P 500 was up 5.9% for the quarter and the Russell 3000 returned 6.4% for the same period.
MMI is the national organization for the advisory solutions industry, representing asset management firms, sponsors of investment advisory programs, and service providers. MMI provides a forum for the industry's leaders to address issues and better serve investors.