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The data is sourced from SEC filings and enriched to provide a unique view into the infrastructure of over 16,000 RIA's. In Q3 2015 5,300 Advisors updated Form ADV.

Some headlines from the paper include:

- The number of Alternative Asset Managers grew by 15%
- The Complexity Index, which is a composite value representing complexity and risk increased 8%
- Total headcount surpassed 80k, or an 11% increase from Q3 2014 - with the biggest increase being in non investment professional headcount
- The Regulatory environment continues to grow and intensify with the number of Regulators by Advisor growing 23% primarily due to new jurisdictions
- Administration and Audit consolidation continues in the market
- Operating productivity declined at Advisors suggesting a greater usage of technology and outsourcing.

"The key to our data set is the completeness and structure as well as the independent sourcing and the time series element. Convergence will continue to monitor this ever changing industry providing empirical data, fueled by research and observations," said John Phinney Co-President of Convergence.

"Convergence's unique State of the Union report and insight allows Managers and Advisors to put increased focus on defining their current operating metrics, establish clear operations-related objectives, and see a clearer path to a company's growth plans. It will provide service providers a 'best fit' analyses of the marketplace and Investors with an additional layer of Due Diligence data," added George Evans Co- President.

To access the Convergence Q3 Alternative Asset Management Industry Update, click here: Source

Press release