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Number of RIA Firms within Discovery Data Surpasses 30,000

EATONTOWN, NJ — April 8, 2013 — Discovery Data announced today that the number of investment advisory (RIA) firms within its online system has surpassed 30,000 for the first time. This is the entire universe of investment advisory firms registered in the U.S., either at the state or federal level.

“With the number of RIA firms growing rapidly while the number of broker-dealer (BD) firms has declined by over 20% over the past few years to the current number of 4,300 firms, it is clear where the industry is headed,” stated Bob Herrmann, CEO of Discovery Data.

Although the dramatic increase in the number of RIA firms has included existing firms now required to register under new regulation, such as advisers to private funds and venture capital funds, as well as over 2,500 exempt reporting advisers (ERA), there remains a steady net positive flow of new RIA firms in both the retail and institutional channels.

“The challenge for our clients is how to filter through such a large universe to identify and reach their target market,” added Mr. Herrmann. “That is why Discovery Data provides hundreds of fields of data on each firm and takes the time to study each firm extensively. Giving our clients the capability to filter and search quickly and easily allows them to find the right audience.”

Discovery Data offers the only single view of the financial services industry with access to all BD and RIA firms, over 630,000 BD and RIA reps, 2,400 trust companies and 1.7 million insurance agents, and includes comprehensive firm and professional profiles encompassing hundreds of fields of data, sophisticated search capabilities, a territory builder and a Google trip planner.

For more information on Discovery Data, contact 732-933-1899 or

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