Direct-to-investor assets have nearly doubled since 2008, according to new research from Cerulli Associates. While still the smallest segment of the market by assets, direct investing, which includes online providers such as E*TRADE and Charles Schwab, has grown to account for around $4.3 trillion of $26.6 trillion of total investable retail assets, Cerulli reported.

That number outpaced the traditional advisory channel, according to the consulting firm. It is also approaching the $5.2 trillion held by wirehouse firms, which still hold the largest market share, according to the study.

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