Registered investment advisor are seeing more growth as wirehouses see less. (Photo: Getty)

Wirehouses are losing out to registered investment advisors, broker-dealer mega teams and home-office due-diligence relationships when it comes to capturing marketshare.

That’s according to a report from Boston-based research firm Cerulli Associates, “U.S. Intermediary Distribution 2016: Evolving Roles in Distribution,” which found that growth on the part of the winning channels is driving a move toward more sophisticated, investment- and data-focused interactions that have traditionally been reserved for firms operating within the institutional space.

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