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The assets managed by SEC-registered investment advisors increased significantly in the past year, but with barely any growth in the number of RIAs.

That’s according to the 13th annual Evolution/Revolution report, compiled by the Investment Adviser Association and National Regulatory Services, which found that SEC-registered investment advisors were managing $54.8 trillion in assets as of April 12, 2013, up substantially from the $49.4 trillion reported in July 2012.

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