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.
All segments of the MS market continued to see increased asset levels and growth rates in the first quarter of 2012. The broader equity market rally that kicked off at the end of lastyear spilled over into the first quarter of 2012,
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.