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IMCA's "Success" Driven by More Members With More Assets

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IMCA's membership has grown with advisors who beat the industry average on assets.

The Denver-based association announced Friday that it has grown in 2014 to more than 10,000 members and certificates worldwide. That's up from 9,100 in 2013, according to data previously reported by the organization.

A new IMCA profile from Cerulli Associates also released Friday shows that the organization's members have on average $297 million in assets under management, which is more than seven times the overall industry average of $41.5 million.

“IMCA’s success as an organization is an outcome of our members’ success within their profession," IMCA Executive Director Sean Walters said in a statement. "Our board and staff execute amazing discipline and focus toward helping advisors grow their sophistication, further their skills and competency, and differentiate themselves through advanced education and credentials.”

IMCA officials point out that its latest reported annual revenue for 2013 of $11.968 million ranks only behind the CFA Institute, the CFP Board of Standards and National Association of Insurance Financial Advisors among not-for-profit professional associations that serve investment advisors.

A breakdown of IMCA's advisor ranks shows 41% of members work at a national broker?dealer, 29% are affiliated with independent advisors, and 27% with regional broker–dealer or bank advisors, Cerulli research shows. Nearly 90% of IMCA members provide fee-only or fee-based advice, according to the Cerulli data.

On a portfolio level, 46% of the IMCA members surveyed by Cerulli say they are considering increasing investments in ETFs. Another 47% are looking at more use of separately managed accounts. Meanwhile, 39% say they may increase the use of equity mutual funds for clients with 32% exploring reducing investments in fixed income securities. Almost a quarter of IMCA advisors are considering reducing exposure in individual equities.

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