A relatively small number of RIA firms have grown faster and more profitably than their peers in recent years, according to research from InvestmentNews and BlackRock.

Dubbed "Elite RIAs," these firms have cracked the code and implemented strategies, tactics, and "ways of doing business" that propelled them to the top.

On average, these Elite RIAs have > $500 million in AUM, $5.8 million in revenue, 13 full-time employees, 365 active households, and revenue per client of $14,327.

In today’s episode, Hollie Fagan, head of BlackRock's RIA business, and I discuss the specifics of what these leading RIAs are doing to scoop up the lion's share of industry assets.