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Compensation costs for RIAs that had more than $250 million in assetsunder management represented 71% of revenue at the median in 2018,Charles Schwab reports.

Some three-quarters of firms in Schwab's 2019 Benchmarking Study said they planned to add employees inthe next 12 months. And 42% of firms recruited staff for openpositions from other RIAs in 2018.

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Michael S. Fischer

Michael S. Fischer is a longtime contributing writer for ThinkAdvisor. He previously reported on trade and intellectual property topics for the Economist Intelligence Unit and covered the hedge fund industry for MARHedge and Reuters News Service.