Midwest RIAs produced more growth than any other region last year and Moneta ranks No. 1 among that group by a wide margin, according to reports recently published by InvestmentNews.
Moneta topped the publication’s list of fee-only RIAs in the Midwest with $18.5 billion assets under management (AUM), nearly $7 billion more than the next firm in the rankings. Moneta’s updated AUM figure rose to more than $20 billion as of June 30, 2018.
An InvestmentNews analysis of SEC-registered RIAs shows a 29.2% year-over-year growth in AUM for Midwest-based RIAs, more than any other region in the country. That’s nearly double the 15.9% growth rate of the Northeast region and almost triple the 10.1% growth rate of the Southern region. AUM of RIAs in the Western region grew by 21.9% over the past year.
Moneta’s No. 1 ranking in the Midwest comes on the heels of its No. 4 national ranking by Barron’s published in September.