Fueled by the growth of dually registered advisors, the assets under management by registered investment advisors are likely to amount to 28 percent of the market by 2018, according to projections from Cerulli Associates.

By the end of last year, the Boston-based reserach firm said, RIA and dually registered advisor assets made up 20 percent of total intermediated retail investor assets. 

There are nearly 16,000 firms in the RIA channel managing $2.4 trillion in assets. These firms manage about 19.8 percent of retail investor assets and represent 18.6 percent of advisers in the business.

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