Media Coverage - 2004-2005

Tiburon executives have been quoted quite extensively throughout the industry and general media. Below is a list and brief synopsis of those articles from 2004-2005 that the Tiburon staff has been able to locate (Tiburon accepts that there are probably hundreds of other quotes circulating). These short summaries are intended to help prospective Tiburon clients, conference planners, and media representatives understand Tiburon's views on a wide variety of issues throughout the financial services industry. The extensive list of Tiburon quotes has required the use of multiple web site pages. Please click on the links below to view older or more recent article summaries.

2016-2017, 2014-2015, 2012-2013, 2010-2011, 2008-2009, 2006-2007, 2004-2005, 2002-2003, 2000-2001, & 1998-1999

Date Publication Article Title & Description
December 24, 2005 Wall Street Journal

Demystifying Trust Funds
Once a financial planning tool of the super rich, personal trusts are quickly gaining ground with another set - the merely affluent. Tiburon quoted saying that about two-thirds of all personal trusts are revocable living trusts.

December 20, 2005 Financial Advisor

Investors Bundling Up Portfolios
Bundling up is not just about keeping warm in the winter. In fact, more and more people are doing it in their portfolios as well. Tiburon data utilized to show growth of multiple style portfolio business.

December 19, 2005 Investment News

Closing Quote
Tiburon managing principal's quoted called out as significant - they (LPL) are flush with cash right now. It is a good time to be swinging for the fences.

December 19, 2005 Investment News

Indie Broker/Dealers Stalking Big Producers
The leading independent broker/dealers are declaring open season on big-producing registered representatives. Tiburon quoted both praising Royal Alliance for being the first mover and suggesting LPL may be the ultimate winner due to its recent cash infusion.

December 12, 2005 Investment News

Morningstar to Battle Advent for Advisors
Morningstar is entering the market for portfolio accounting software for independent financial advisors, bring it into competition with Advent Software. Tiburon quoted saying that Morningstar has a better shot at becoming the dominant brand than any other firm.

December 1, 2005 On Wall Street

Raymond James: Too Much Going On?
Raymond James Financial has a lot of people helping to make the cash register ring. The firm has become pretty complicated for a midsize company. Tiburon quoted saying that Raymond James may eventually become an acquisition candidate.

December 2005 Financial Advisor

Fee-Only Practices are the Most Profitable
Fee-only financial advisors are running the most profitable practices, with the most affluent clients, compared to their counterparts in other markets, according to a new study.  Article profiles Tiburon research report re benchmarking & best practices.

December 2005 Investment Advisor

Hybrid Vehicles
As we prepared for this anniversary issue and wondered whether there was one mutual fund we could dub fund of the future, we determined that the future would be quite different. Tiburon quoted in stand-alone side bar predicting three phases of the future.

December 2005 Financial Planning

Behind LPL's Big Deal
LPL sold a 60% equity stake to private equity forms Hellman & Friedman and texas Pacific Group. Does the firm's sale to investors mean that acquisitions or an IPO are in the offing? Tiburon quoted saying that LPL received a rich premium, that LPL will likely make acquisitions, and that this is a likely good outcome for LPL reps.

November 28, 2005 Investment News

Block Stems Tide by Adding Pros
H&R Block's long beleaguered brokerage division may have turned the corner.  Article addresses moves to increase referrals and lift broker production requirements. Tiburon quoted saying that large incentive is impressive, and better focus on best recruits is as well.

November 21, 2005 Investment News

More Advisors Tap Into Niche Markets
In an effort to differentiate themselves in an increasingly competitive environment, many financial advisors are targeting some rather unusual customers. Tiburon quoted promoting both the revenue and cost benefits of target marketing.

November 20, 2005 Journal of Financial Planning

Tiburon Releases New Fee-Accounts Research Report
Tiburon Strategic Advisors, a market research and strategy consulting firm serving the brokerage and investment management industry, recent released an updated research report on the fee-accounts, turnkey asset management programs (TAMPs), and separately managed accounts market. Article profile recent Tiburon research report.

November 14, 2005 Fund Action

Schwab Weighs ETF Wrap
Charles Schwab & Company is considering offering a wrap program exclusively for exchange traded funds. Brokerage firms are increasingly looking to offer ETF platforms as investors seek low expenses and diversified portfolios. Tiburon quoted saying that some discount brokerage firms may offer free ETF wrap account programs.

November 12, 2005 Financial Advisor

Tough Times Ahead for Independent B/Ds, Says Tiburon Report
A new study predicts that tougher times lie ahead for the independent broker/dealer industry, with low profit margins, increased costs, and a dearth of qualified reps putting the squeeze on medium and small-size firms. Article profiles recent Tiburon research report on the independent rep market.

November 8, 2005 Fund Fire

Managed Accounts to Hit $2 Trillion by 2010: Study
Separately managed account assets will break through the $2 trillion mark by 2010, according to a new projection on industry growth. The new study by Tiburon Strategic Advisors attributes much of the potential growth to multiple style accounts. Article profiles recent Tiburon research report.

November 7, 2005 Insurance Newscast

Tiburon Releases Highlights of its Ninth Semi-Annual CEO Summit
Tiburon releases summary highlights of its recently held ninth semi-annual Tiburon CEO Summit. Article repeats recent Tiburon research release summarizing CEO Summit.

November 7, 2005 Investment News

Wachovia Building Assets in Wealth Management
Wachovia's wealth management operation is starting to gain assets, thanks to a more deliberate efforts aimed at seeking referrals out of its bankers. Article quotes appears of Stan Kelly at Tiburon CEO Summit.

November 7, 2005 Investment News

Other Views: ETFs Will Continue to Surge But Won't Replace Mutual Funds
Exchange traded funds are on the brink of something really big, judging by the media attention that this obscure corner of the market has garnered in the past year. Tiburon quoted saying that fee-based advisors will continue to be the biggest users of ETFs.

November 2, 2005 Wealth Management Letter

Turnkey SMA Firms Make Going Indie More Attractive; TAMP Market Poised to Steal More Market Share From Wirehouses
The prospect of going independent -- becoming a fee-based registered investment advisor -- has always been regarded as a somewhat awesome undertaking. Tiburon quoted saying that it is much easier to spin out of a wirehouse now that the TAMP market is bigger.

November 1, 2005 Registered Representative

Wealth Transfer?  What Wealth Transfer?
The fabled massive wealth transfer - the Holy Grail of the financial services industry. Back when economists were simply talking about what the WWII generation would pass on to its baby boomer children, they estimated that $10 trillion would change hands before the passing was done. Tiburon quoted saying that it is skeptical of the size of the wealth transfer, pointing to longer life expectancies.

November 1, 2005 Journal of Financial Planning

Tiburon Releases Prediction for the Independent Rep Market
Tiburon Strategic Advisors, a market research and strategy consulting firm serving the brokerage and investment management industry, recent released a research report, "A Synopsis of the Independent Rep and Independent Broker/Dealer Markets." Article profile recent Tiburon research report.

November 2005 Financial Advisor

Tough Times Ahead for Independent Broker/Dealers, Says Tiburon Report
A new study predicts that tougher times lie ahead for the independent broker/dealer industry, with tighter profit margins, increased costs, and a dearth of qualified reps putting a squeeze on medium- and small-sized firms.  Article profiles recent Tiburon research report about the independent rep market.

November 2005 Financial Advisor

Chasing the Wrong Client?
Earlier this year, Tiburon Strategic Advisors issued a report entitled Consumer Wealth, target Markets, & Marketing Strategies that sounded relatively innocuous. But it included a few findings that should get every advisor's attention. Article profiles recent Tiburon research report regarding consumer wealth.

November 2005 Financial Advisor

Is the Savings Rate Reaching Crisis Proportions
It seems like a great paradox. How can the financial advice business be going so well when it is faced with a nightmare scenario - an American public that is no longer saving. Article utilizes Tiburon chart plotting US personal savings rate.

November 2005 Wealth Manager

Who is Trustworthy?
If advisers had any doubts about the value - and the growth potential - of managing trusts for clients, a recent study by Tiburon Strategic Advisors might convince them to aggressively pursue the business. Article profiles recently releases Tiburon estate planning research report.

October 31, 2005 Investment News

Tiburon Summit Produces a Star Speaker
The latest Tiburon CEO Summit attracted more top-level corporate executives than did any of its previous eight events. But it was a single financial advisor - Ken Fisher - who left the ninth semi-annual conference abuzz. Article profiles recent Tiburon CEO Summit.

October 31, 2005 Financial Advisor

TAMP Market Sees Rapid Growth
Turnkey asset management programs are growing rapidly and appear to be generating more income for the advisors who use them, according to a new report. Article profiles recent Tiburon research report titled Fee-Accounts, TAMPs, & SMAs.

October 16, 2005 Journal of Financial Planning

Updated Advisor Profile: Succession Planning and Firm Valuation
Tiburon Strategic Advisors, a market research and strategy consulting firm serving the brokerage and investment management industry, recently released an updated research report on the growing acquisition market for financial advisors.

October 10, 2005 Investment News

Graying Boomer Planners Face Transition Issues
Succession planning and other transition strategies have emerged as popular subjects among financial planners.

October 10, 2005 Investment News

Russell Lands Ex-Schwab Exec for Wealth Management
Russell Investment Group put an old industry hand (Nick Georgis) in a new position to help recast it as a wealth management consulting firm. Tiburon quoted saying that Russell is coming back to the advisor market with a strong push.

October 10, 2005 Accounting Today

Broadening Your Services
Many CPAs today are looking to broaden the services that they offer to clients. According to the Tiburon Strategic Advisors report, "A Synopsis of the CPA Industry & Highlights of their Models for Entering the Investments Business, " almost 40% of all CPAs are expected to offer financial planning services by 2006, up from 14% in 2002. Article profiles recent Tiburon research report.

October 6, 2005 Financial Advisor

Schwab Reduces Advisor Role in SMA Sales
Charles Schwab & Company is expanding its separately managed accounts business to appeal to more retail investors by cutting back on the role of financial advisors in selling these products. Tiburon quoted saying that this is a good development for consumers.

October 1, 2005 Registered Representative

It's in the Bank
Executive recruiters and bank brokerage officials confirm that a movement of reps from wirehouses to banks is gaining momentum. Tiburon data utilized showing that there are 61,000 front-line bank brokers.

October 2005 CPA Wealth Provider

Broadening Your Services
Many CPAs today are looking to broaden the services that they offer to clients. According to the Tiburon Strategic Advisors report, "A Synopsis of the CPA Industry & Highlights of their Models for Entering the Investments Business, " almost 40% of all CPAs are expected to offer financial planning services by 2006, up from 14% in 2002. Article profiles recent Tiburon research report.

September 30, 2005 Fund Action

ETF-Based Multiple Style Account Debuts
Tiburon quoted questioning the value of having a separate account manager oversee portfolios of exchange traded funds.

September 27, 2005 Registered Representative

Tiburon Strategic Advisors
I just returned from our annual producers' conference where I had an opportunity to hear Chip Roame from Tiburon Strategic Advisors speak.  Article, written by an advisor, reviews a recent conference speech by Tiburon's managing principal.

September 26, 2005 Wall Street Journal

Making Case for ETFs, Index Funds
Exchange traded fund and traditional indexes are close cousins, not identical twins. Tiburon quoted saying that ETFs and index mutual funds can be used well together.

September 26, 2005 Investment News

ETF Growth Not Big Threat to Separates, Study Finds
The separately managed accounts industry, which clearly recognizes the steady pace of asset flows into exchange traded funds, does not yet consider that growth a serious threat. Tiburon quoted saying that ETFs will outgrow both separately managed accounts and hedge funds.

September 26, 2005 Investment News

Smith Barney Sees Early Success with Push Into Advisory Products
Smith Barney is reporting success in rolling out a pricing model that makes its stockbrokers look more like registered investment advisors. Tiburon quoted saying that the firm could be successful in wealth management because it owns all of the components.

September 26, 2005 Investment News

Columbia Still Working to Whittle Costs, Funds
Columbia Management Group last month revamped its back-office operations, creating savings that will be passed directly to investors in its funds. Tiburon quoted saying that investment performance and costs are two factors driving fund flows.

September 26, 2005 Fund Action

SMAs Lack Diversification, Customization
Separately managed accounts are touted as a diversified, customized, tax efficient investment solution, yet 60% of SMAs are in large cap equity and only 3% is in small cap equity. Article goes on to profile speech given by Tiburon Managing Principal Chip Roame.

September 22, 2005 Private Asset Management

High-Net Worth Leader of the Year -- Wachovia Wealth Management
The fourth largest US bank's segmentation strategy is a leading example of customized target marketing. Tiburon quoted saying that this strategy should allow Wachovia to better penetrate their clients' wallet.

September 20, 2005 American Banker

New Citi Trust Chief Gung-Ho on Open Architecture
Citigroup's switching to non proprietary investment products will help Citigroup Trust attract customers, the units incoming president says. Tiburon quoted saying that banks do not need to get rid of all of their own investment products; limited open-architecture platforms can win.

September 19, 2005 Investment News

ETFs Offer Something for Every Strategy
It does not matter what kind of investment strategy you follow - exchange traded funds can always help financial advisors lower their investment costs. Article quotes Tiburon saying that the future of ETFs is bright because they have been accepted by advisors of varying types.

September 13, 2005 Investment News

Roame: ETFs to Overtake Separates, Hedge Funds
There are now more assets in separately managed accounts and hedge funds than in exchange traded funds, but ETFs are likely to overcome those other investments.  Article summarizes a speech by Tiburon's managing principal.

September 1, 2005 On Wall Street

The Perfect Wealth Manager
Last year, an executive at a public company in Saint Paul, MN turned to his broker at Piper Jaffray for help on one of the most important decisions in his life - retirement. Tiburon quoted on various topics including broad wealth management offers, the estate tax, and banking services.

September 2005 Investment Advisor

Opportunity Knocks
Ameritrade's Jim Wangsness speaks frankly about the firm's proposed acquisition of TD Waterhouse, its commitment to helping advisors, and more. Article quotes Tiburon saying that consumer investable assets with grow due to the pending liquefaction by baby boomers.

September 2005 On Wall Street

The Advisor as Matchmaker
Helping small business clients find investment banking services can be a very profitable niche. Tiburon quoted saying that this can be a very successful business model but that it is probably use by only a few hundred advisors across the country.

September 2005 On Wall Street

Independent's Day
Raymond James Investment Advisor Division has partnered with On Wall Street to deliver this report detailing trends in the brokerage and investment advisor industry. Tiburon data and research quoted extensively, including facts about advisor segmentation, client bases, and minimum account sizes.

September 2005 Research

Rethinking the Payout Grid
The compensation conversation is shifting toward product neutrality and pay for performance rather than production. Tiburon quoted saying that more independent advisors are focusing on economically viable growth.

August 23, 2005 Fund Fire

Managed Account Growth Falls Short of High Hopes
The separately managed accounts industry is falling short of growth projections made a few years back, in some cases by as much as several hundred billion dollars. Tiburon quoted saying that SMAs are done by a small group of advisors, with 7% of all advisors doing 86% of all SMA business.

August 21, 2005 Philadelphia Inquirer

Sailing Along
Chester County's largest private employer has added about 1,300 jobs and $318 billion in assets since the bear market ended in 2003. Tiburon quoted saying that Vanguard's emphasis on value resonates in today's market.

August 15, 2005 Financial Advisor

SMA Potential Unfulfilled?
Separately managed accounts can be great products for high net worth investors, but some say that they are not living up to their potential. Tiburon quoted saying that the products offer enormous potential but are not being utilized correctly today.

August 15, 2005 Investment News

Analysts Question Wirehouses' Fee-Based Numbers
A report issued the month by the Securities Industry Association offers good news: a third of retail brokers' production comes from fee-based products.  But some analysts question that number. Tiburon quoted saying that the data is not clear and possibly mis-leading.

August 8, 2005 Investment News

Brokers Must Come to Terms with the Changing Business
Traditional brokerage firms are having a mid-life crisis. They are attempting to build a wealth management approach around fee-based business in the hopes of capturing more assets from wealthy investors. Tiburon quoted saying that independent fee-based advisors have been more successful attracting high net worth clients.

August 5, 2005 American Banker

UMAs Rekindle Debate on Open Architecture
The proprietary product-open architecture debate has long simmered among financial institutions in the wealth management business, with momentum shifting in recent years toward more openness. Tiburon quoted saying that it sees middle ground whereby banks incorporate third-party manager offerings with proprietary management.

August 2005 NAPFA Advisor

Practice Management Sessions Look at Cutting Edge
Succession planning is on many members' minds these days, and so Tiburon Strategic Advisors' Chip Roame's presentation was widely anticipated and well attended. Article profiles recent FA M&A conference speech by Tiburon managing principal

July 2005 Investment Advisor

Validating the Validators
There was a moment, just before the waiter brought the Santa Barbara prawns, when the young advisor seemed invincible. But the prospect was a validator. Tiburon quoted saying that there is an increasing number of validators.

June 27, 2005 Investment News

Wirehouse-to-Indie Route Taken by Just 1% to 1.5%
Executives from independent broker/dealers love to crow about the high-volume registered representatives that they lure from wirehouses.  But only 1.0% to 1.5% of wirehouse reps leave for independent broker/dealers in any given year. Tiburon quoted saying that independent reps do not necessarily earn more money.

June 22, 2005 American Banker

Managed Household Seen as Next Big Bank Product
Industry analysts and executives said that they expect the next generation of fee-based platforms - unified managed households - to take off when introduced next year, and they see bank trust departments as well-positioned to succeed. Tiburon quoted saying that the unified managed household should be the core product of every bank trust department.

June 6, 2005 Accounting Web

CFA Examinations Held Globally this Weekend
Over 77,000 professionals had a busy weekend. Men and women in 140 nations took one of three levels of the CFA exam. Tiburon quoted saying that 6% of CPAs offering financial advice have a CFA.

June 2, 2005 Fund Fire

Service Trumps Performance for Wealthy
Advisors to the affluent need to spend more time reaching out to clients if they want to reap the benefit of a growing consumer wealth market. Tiburon quoted saying that nearly all clients who fire their advisors do so for poor service, not poor performance.

June 1, 2005 Registered Representative

Fido Attacks!
Welcome to the battle between the Goliaths. Long a distant second to Schwab in the lucrative business of serving financial advisors, Fidelity is making an aggressive move to close the gap. Tiburon quoted saying that Fidelity has a vast asset in its 401K business.

June 1, 2005 Registered Representative

Wall Street's Big Curtain Call
Boomers are regarded as the golden goose for brokerage firms, but the top reps with the biggest books are boomers, too. How they age out of the business will have a huge impact. Tiburon quoted saying that the average age of wirehouse reps is 46, but asset-weighted, it is over 60.

June 1, 2005 On Wall Street

Outside the Wirehouse: Thousands of Advisors Will Go Independent this Year. Here's Why
It will probably be a few years before we know for sure, but there is certainly evidence that independent brokerage firms are catching up to wirehouses as the places where US consumers invest their assets. Tiburon quoted regarding advisors desire for independence.

June 2005 On Wall Street

A Case for Core-Satellite
Although institutions adopted the core-satellite portfolio model years ago, and fee-only independent RIAs soon followed suit, retail brokers have dragged their feet. Tiburon quoted saying that even discount brokers adopted the strategy before the wirehouses.

June 2005 On Wall Street

A Longer Leash
After 24 years as an employed rep at three different brokerage firms, Miles Luchtenburg was getting serious about going independent. But he had several concerns. Tiburon quoted saying that Raymond James and a few other firms are unique in offering multiple rep platforms.

June 2005 Investment Advisor

New Woes for Fee-Based Accounts
When they made their debut in the bull market of the 1990s, brokerage houses offered what sounded like a great deal: consumers could make all the trades they wanted for one flat fee. Tiburon quoted saying that fee-based brokerage accounts rose to $201 billion but have now come under attack.

June 2005 Practical Accountant

Selling Your Financial Planning Practice
Tiburon Strategic Advisors has released a research report entitled, A Comprehensive Overview of Succession Planning, Firm Valuations, & the Growing Acquisition Market for Financial Advisors.  Article profiles recently released Tiburon research report.

May 30, 2005 Money Management Executive

The Exchange Traded Fund & Index Share Forum 2005
Advertisement for upcoming conference features Tiburon Managing Principal Chip Roame who is to give a speech titled, Examining the State & Future of the ETF Marketplace.

May 20, 2005 Pittsburgh Post-Gazette

Family Finances: Financial Advisors Switching to Fees
Expect to see fewer stockbrokers and insurance agents whose primary income is from commissions. Tiburon quoted saying that the number of independent advisors is outgrowing the number of brokers at the wirehouses.

May 16, 2005 Investment News

Name Confusion Hits Tiburon
When the Wall Street Journal this month ran a blurb with the word Tiburon in it, Tiburon Managing Principal Chip Roame was left to ponder how quickly one's reputation can be under minded. Article summarizes a case about an unrelated firm also using the name Tiburon. Tiburon quoted saying that some public relations is bad.

May 9, 2005 Investment News

Schwab Revises Payout Grid for Branch Brokers
In a move that some analysts say pushes the envelope with regulators, Charles Schwab & Company is revamping its strategy for paying its branch brokers. Tiburon quoted saying that practice of attributing greater revenues to assets in advisor accounts, and correspondingly paying brokers more for such assets, could lead to a bias.

May 2, 2005 Accounting Today

Hedge Funds Start Courting Hesitant Smaller Planners
With returns on both bonds and stocks dwindling, investors are seeking higher ground. Increasingly that means their money finds its way into alternative investments like hedge funds. Tiburon quoted saying that few CPAs utilize hedge funds today.

May 2, 2005 Investment News

Merrill Transition Policy Said to be Complicated by Issues of Gender
Merrill Lynch's current program for transitioning books of business - allowing brokers with an eye on retirement to make quiet deals at the branch level - has been described by one industry observer as conflict avoidance. Tiburon quoted saying that succession planning is a growing issue for wirehouses.

May 2005 Advising Boomers

Who are the Boomers?
Better off than their parents, luckier than their children, these happy many created a new zeitgeist - and became its victims. Tiburon data utilized to explain the boomer trend, including the fact that retirement planning is the key financial goal for 43% of boomers.

May 2005 Registered Representative

Your Newest Rival: Your Firm's Own Private Bank
Article profiles scenarios whereby internal units have taken away advisors' clients because they became wealthy. Tiburon quoted saying that advisors will need to find ways to fend off private bankers.

May 2005 Inside Information

Seven Days in May
By a strange quirk of scheduling, the FPA's annual retreat and the NAPFA national conference were held during the same week and in the same city. Article profiles speakers at recent conferences, including Tiburon's Chip Roame, who is said to have broke new ground of the evolution of the market for buying and selling financial advisory businesses.

May 2005 Investment Advisor

Caution in Tiburon
Along the advisor conference circuit, the invitation-only Tiburon CEO Summit, hosted twice annually by California-based financial services industry consultant Chip Roame, has become the place to see and be seen. Article profiles recently held CEO Summit.

May 2005 Investment Advisor

Trusting Relationships
At Tiburon Strategic Advisors' recent CEO Summit, Tif Joyce, an advisor affiliated with LPL, convinced several clients to rise before dawn, climb into a limo, and make the long trek from rural western Sonoma County to downtown San Francisco to tell their financial life stories before 80 industry executives. Article profiles the Ask the Consumer panel at recent Tiburon CEO Summit.

May 2005 Investment Advisor

Excellence is a Moving Target
Article summarizes upcoming NAPFA conference, including profiling Tiburon Managing Principal Chip Roame, who was keynote speaker on topic of Trends in Succession Planning.

May 2005 Investment Advisor

IA 25
In a profession filled with charismatic entrepreneurs and a host of potential partners, these 245 people led the way. Article profiles Tiburon's Managing Principal Chip Roame as one of the 25 most influential people in the investments industry.

May 2005 On Wall Street

The Mass Affluent
Smith Barney and Merrill Lynch try to hold on to a market that is everywhere and has everyone. Can they keep it from slipping away? Tiburon quoted saying that the mass affluent is the core business of the wirehouses.

May 2005 Financial Advisor

Uncertain Future: Fidelity Executive Forum Raises Issues About Where the Industry is Headed
It is no longer a secret that independent registered representatives and fee-only financial advisors are the fastest growing segments in the money management business. Tiburon quoted proving data that supports the growth of these segments.

April 25, 2005 Investment News

Tiburon CEO Summit Attracting More Big Guns
This year's Tiburon CEO Summit came closer than ever to living up to its billing, thanks to a tighter schedule and increased attendance by chief executives. Yet organizer Chip Roame remains his own conference's sharpest critic. Article profiles recent eight semi-annual Tiburon CEO Summit.

April 18, 2005 Business Week

The Busiest Broker on Earth
Fidelity Investments, the privately held mutual fund giant, has quietly built one of the biggest brokerages on the planet. Operating almost entirely online, it has added more than one million retail accounts in the past two years, giving it 9.9 million customers at the end of 2004. Tiburon quoted saying that Fidelity is more profitable than Charles Schwab as it earns ~70 basis points on assets as opposed to Schwab's ~30 basis points.

April 18, 2005 Investment News

Harris Direct Looks Headed in the Wrong Direction
Harris Bankcorp's $600 million bet on online stock trading has not paid off, even as better-known do-it-yourself brokers have grown with the recent bull market. Tiburon quoted saying that the online brokerage industry will divide into big players like Schwab and niche players focused on specific customer groups.

April 18, 2005 Investment News

Fidelity's Better Mousetrap Fails to Get Competition to Squel
Despite Fidelity Investments' efforts to revamp a technology offering for advisors that it believes will leapfrog the competition, neither of its main competitors - Charles Schwab & Company and TD Waterhouse - think the efforts will make a dent. Tiburon quoted saying that Integrated Decision Systems is the third coming of a real competitor to Advent.

April 11, 2005 Investment News

Signs of Progress as Block Redoubles Efforts in Advice Biz
Despite four straight years of red ink form its advisory unit, H&R Block is redoubling its efforts to succeed in the advice business, and some early signs are good. Tiburon quoted saying that H&R Block needs to stay the course as the potential is enormous.

April 4, 2005 Investment News

Fidelity Enters Advisor M&A Fray
In a shot across the bow, Fidelity Investments claims to have built a better mousetrap for matching buyers and sellers of financial planning practices. Unlike Schwab, it outsources task of matching buyers and sellers. Tiburon quoted saying that the new attention on the M&A issue is logical for broker/dealers and custodians which need to protect assets.

April 4, 2005 Accounting Today

How Successful are CPAs Offering Investments?
Tiburon Strategic Advisors, a market research and strategy consulting firm based in Tiburon, CA, recently released a new research report on the CPA industry. Article profiles recent Tiburon research report.

April 1, 2005 Practical Accountant

How Successful are CPAs Offering Investments?
Tiburon Strategic Advisors, a market research and strategy consulting firm based in Tiburon, CA, recently released a new research report on the CPA industry. Article profiles recent Tiburon research report.

April 1, 2005 Accounting Technology

How Successful are CPAs Offering Investments?
Tiburon Strategic Advisors, a market research and strategy consulting firm based in Tiburon, CA, recently released a new research report on the CPA industry. Article profiles recent Tiburon research report.

April 1, 2005 Financial Planning

2010: The Technology You'll Use
It is news to no one that technology's impact is growing exponentially. The internet has spawned changes that financial advisors didn't envision a decade ago, and vendors have developed new software products. Tiburon quoted projecting likely technology developments, including camera technology installed on all laptops.

April 1, 2005 Financial Planning

Advisor Pulse: Secrets of Independent Planners' Success
With 76 million baby boomers facing retirement, the future for independent financial planners has never looked better.  According to a recent report by California-based market research firm Tiburon Strategic Advisors, independent financial planners have enjoyed, on average, 16% annual growth in assets under management for a decade. Article profiles recent Tiburon research report.

April 2005 Registered Representative

The New Thing at AEFA
A spin off from its parent company American Express may force AEFA to change its stripes again. Tiburon quoted saying that reps should not expect a lot of extra freedom as the current compliance environment may squeeze margins.

April 2005 Registered Representative

Indie Research
The Wall Street research scandals provoked sweeping reforms - including forcing firms to offer third-party research. Clients don't seem to care. Tiburon quoted saying that in-house research has improved slightly.

April 2005 Financial Advisor

How Boomers Will Change Your Firm
What do the 75 million baby boomers heading toward retirement sound like? Tiburon quoted saying that there is a lot of competition, with over 400,000 financial advisors.

April 2005 CPA Wealth Provider

How Successful are CPAs Offering Investments?
Tiburon Strategic Advisors, a market research and strategy consulting firm based in Tiburon, CA, recently released a new research report on the CPA industry. Article profiles recent Tiburon research report.

April 2005 Practical Accountant

Rollovers
Tiburon Strategic Advisors' The Future of Advice report indicates that 44% of fee-only financial advisors' clients come from retirement plan rollovers.  Article profiles rollover related points in recent Tiburon research report.

March 28, 2005 Money Management Executive

SMAs Prepare for Baby Boomer Bonanza
Baby boomers nearing retirement are in a fix - a fast approaching retirement without enough retirement income. Article projects winning products in boomers' retirement.  Tiburon quoted saying that the SMAs industry is too quiet and that it needs to bring more awareness to consumers.

March 28, 2005 Investment News

Separates are Thriving But Need Better PR
By most measures, separately managed accounts could easily be described amongst the biggest success stories for the financial services industry of the past few years. Tiburon quoted saying that the SMA industry needs to get the word out.

March 17, 2005 Financial Planning

Goodbye Financial Supermarket?
A decade ago, Citigroup CEO Sandy Weil helped sell Wall Street on the idea that what consumers really wanted was a financial supermarket -a one-stop shop for all their financial needs, from banking to insurance, to investments. Tiburon quoted saying that the financial supermarket has been a recurring dream.

March 2005 Registered Representative

Dearth of Easy Pickings?
Hedge funds are attracting an unprecedented amount of retail money, but has the low-hanging fruit already been eaten? Tiburon quoted saying that the space is still dominated by the super rich, with 55% of hedge fund assets coming from high net worth households and family offices.

March 2005 Financial Planning

On the Road
Article profiles upcoming conference for the National Association of Active Investment Managers. Article profiles keynote speaker Chip Roame from Tiburon.

March 2005 Financial Advisor

The Watchdog Inside Your Firm
If recent SEC audits are any indication of what registered investment advisors will face in 2005, you should expect that the year's greatest regulatory challenge may be the SEC's determination to put each firm's chief compliance officer in a watchdog role. Tiburon quoted saying that over promising and under delivering in the area of separately managed accounts is a red flag.

February 21, 2005 Investment News

Tiburon Sees Huge Opportunities for Providers of Consumer Wealth
Tiburon Strategic Advisors, a market research & strategy consulting firm serving the brokerage and investment management industry, reported that US households control $17 trillion. Article profiles Tiburon's recent Future of Advice research report.

February 21, 2005 Investment News

Consultant Explosion Hits Advisor Industry
With the stock market and economy on the mend, the demand for consultants that focus on financial advisors is skyrocketing. Article profiles Tiburon, noting that the firm recently added eight new research and marketing managers.

February 17, 2005 Financial Planning

Teaching Clients About SMAs
Advisors who use separately managed accounts grow awfully familiar explaining the advantages of SMAs to their clients: their transparency, their tax efficiency, the way they can be tailored to clients' needs and objectives. Tiburon quoted saying that broad education is critical to the growth of separately managed accounts.

February 14, 2005 Investment News

TD Waterhouse Snatches Up Merrill Exec
Derek Bruton, the Merrill Lynch executive hired away from Charles Schwab & Company to build up its asset custody group for independent advisors, has left Merrill for TD Waterhouse. Tiburon quoted saying Merrill Lynch unlikely to focus on asset custody business due to the importance of its retail broker network.

February 14, 2005 Investment News

Waterhouse Burnishes its Custodian Image
TD Waterhouse hosted its biggest national conference this past week in San Diego. Article reviews speeches by Tom Bradley, Eliot Spitzer, and Tiburon's Chip Roame. Tiburon quoted as saying that fee-based advisors are eating the lunch of wirehouse brokers.

February 4, 2005 Financial Planning

AIG Advisor Group Consolidates & Re-Brands
The AIG Advisor Group has pulled three units under one umbrella to form AIG Financial Advisors, in a move to take advantage of the brand name of the parent company. Tiburon quoted saying that leveraging the brand name was a good idea.

February 2005 Registered Representative

Small Game Hunting
About 30% of US households have between $100,000 and $500,000 in net worth. Tiburon quoted saying that advisors serving smaller clients often have higher overall margins because their revenues/assets ratio (average price) is higher.

February 2005 Investment Advisor

Just Do It
What could you do differently in 2005 that would propel you toward a major break through in your business? Article attributes ideas to numerous sources, including Tiburon to which it attributes the ideas of developing target markets and investing in technology.

February 2005 Research

The Writing on the Wall
In Ellen Uzelac's cover story, Death of Salesman, Dan Sullivan, Chip Roame, & Matt Oechsli all amplify Joe Deitch's warning that a painful transition lies ahead.  Article refers to comments by Tiburon managing principal.

February 2005 Research

Death of the Salesman
Advisors who fail to offer clients a unique value proposition may no longer be in the business just a few years from now. Tiburon quoted saying this is about the death of the salesman and the awakening of the entrepreneur.

February 2005 Financial Planning

The CPAs are Coming
Although the role of certified public accountants has been gradually evolving for two decades, a recent report by Tiburon Strategic Advisors highlights how CPAs are making a major push into financial planning.  Article profiles recent Tiburon research report.

January 31, 2005 Investment News

Waterhouse Plans Referral Fee
Dedicated employees to identify advice-needy customers and direct them to nearby advisors for 15% cut. Tiburon quoted saying that an advisor program may be crucial to TD Waterhouse's long-term success as its clients get more wealthy due to the liquefaction.

January 24, 2005 Accounting Today

Most Tax Professionals Enter PFP Arena Via Broker/Dealer
The majority of tax professionals who enter the financial planning business do so by hooking up with an independent broker/dealer, according to a report by Tiburon Strategic Advisors. Article profiles recent Tiburon recent research report.

January 17, 2005 Investment News

Lanigan's Exit Gives Fidelity an Opportunity
Advisors bullish about firm's search for a successor. The void left by Jay Lanigan's departure gives Fidelity a chance to consolidate its considerable gains in the business of asset custody for financial advisors. Tiburon quoted that Fidelity had been savvy in recent years, picking up key client relationships.

January 17, 2005 Private Asset Management

Many Offerings Seen Needed
Advisors will need to have a broad range of investments and services - fee-based accounts, index and alternative investments, insurance, estate planning, and family office services - if they hope to compete for affluent baby boomers' business.  Article profiles recent Tiburon Future of Advice research report.

January 2005 Practical Accountant

Expanding into Financial Planning
Tiburon Strategic Advisors has released a new research report on the CPA industry. The 329-page report, A Synopsis of the CPA Industry & Highlights for their Models for Entering the Investments Business, provides details about the five basic models utilized by CPA firms. Article profiles recent Tiburon research report.

December 29, 2004 Accounting Today

People
Tiburon Strategic Advisors announced four new employees: Servio Lee, Jeff Nagy, and Yari Wajid as research managers, and Kristen Colwell as a marketing manager.

December 20, 2004 Accounting Today

People
Tiburon Strategic Advisors announced four new employees: Gerard Cronin, Roger Lam, and Andrew MacPherson as research managers, and Elizabeth Donahey as a marketing manager.

December 16, 2004 Running Money

Profile: New Products, New Growth at Dimensional
David Booth is as crisp and energetic as any CEO in the business. But where many asset management executives get excited discussing sales and asset growth, Booth gets most enthused about markets theory. Tiburon quoted, suggesting that DFA's penetration into 70% of its advisor clients assets is highly successful.

December 13, 2004 Investment News

Advisors Key in Schwab's New Ploy to Win Clients
Charles Schwab & Company is developing a bold strategy that uses financial advisors as foot soldiers in the battle to win customers from rivals. Tiburon quoted saying that this is a model that can be replicated across the country.

December 13, 2004 Web CPA

Most Tax Professionals Enter PFP Arena Via Broker/Dealer
The majority of tax professionals who enter the financial planning business do so by hooking up with an independent broker/dealers firm, according to a report by market research and consulting firm Tiburon Strategic Advisors. Article summarizes recent Tiburon research release.

December 9, 2004 Web CPA

People
Servio Lee, Jeff Nagy, and Yari Wajid have joined Tiburon Strategic Advisors as research managers, and Kristen Colwell has joined the firm as marketing manager. Article profiles each of the recent Tiburon additions.

December 6, 2004 Investment News

Block Still Falling Short in Investment Services
H&R Block continues to flounder in its efforts to transform into a financial services juggernaut. Less than a year after launching a massive campaign to recruit experienced financial advisors, the firm is struggling to retain existing advisors. Tiburon quoted saying that while the firm seems to have a smart strategy and the right infrastructure, it has not been successful in execution.

December 3, 2004 Fund Fire

Merrill Unifies Manager Research Under New Head
Merrill Lynch is consolidating third-party manager selection across its entire fee-based business. Tiburon quoted saying that the additional senior management focus sends a message regarding the importance of this business and the individual person named sends a message of the importance of institutional business.

November 29, 2004 Accounting Today

People
Servio Lee, Jeff Nagy, and Yari Wajid have joined Tiburon Strategic Advisors as research managers, and Kristen Colwell has joined the firm as marketing manager. Article profiles each of the recent Tiburon additions.

November 29, 2004 Accounting Today

Firms
Tiburon Strategic Advisors has moved to larger offices on Tiburon Boulevard, directly across from the ferry dock. Article profiles Tiburon's new office.

November 22, 2004 Money Management Executive

Tiburon Advisors Adds Four to Consulting Staff
Tiburon Strategic Advisors has appointed four new managers, three for research and one for marketing. New hires include Gerard Cronin, Roger Lam, Andrew MacPherson, and Elizabeth Donahey. Article profiles each of the recent Tiburon additions.

November 22, 2004 Fund Marketing Alert

Tech Helps Advisors Target Rollovers
Technology that simplifies the rollover process may help push advisors to target the market more. Tiburon quoted saying that although rollovers are the leading source of assets for advisors, most do not yet feel an urgency to target the market.

November 22, 2004 Fund Marketing Alert

Lost Opportunity: Rollovers Neglected
Many 401K plan providers need to eliminate individual retirement account strategies.  Their lack of strategies is opening up a sea of opportunities for others to capture growing rollovers as baby boomer begin to retire. Tiburon quoted saying that 18% of consumer assets are in IRA accounts.

November 19, 2004 Insurance Newscast

Tiburon Announces New Employees
Tiburon Strategic Advisors has appointed four new managers, three for research and one for marketing. New hires include Gerard Cronin, Roger Lam, Andrew MacPherson, and Elizabeth Donahey. Article profiles each of the recent Tiburon additions.

November 18, 2004 Financial Planning

Goodbye Target, Hello Tiffany's
Charles Schwab moves uptown with growth of separately managed accounts business. Tiburon quoted saying that separately managed accounts are still not widely used by fee-only financial advisors.

November 18, 2004 American Banker

Unified Managed Accounts Aid Wealth Advice Move
Sales of unified managed accounts are increasing at banks as more institutions try to use the product to move from asset manager to wealth advisor. Tiburon quoted saying that unified managed account data is still nebulous but banks are well positioned to succeed.

November 5, 2004 Dow Jones Newswires

Hedge Funds May be Next for SMAs
Hedge funds may be coming to a managed account program near you. Tiburon quoted saying that hedge funds provide an excellent diversification opportunity for SMAs but that transparency and reporting will be key issues.

November 4, 2004 Financial Planning

Planners Respond to Election Outcome
Many observers say that there won't be major upheavals within the financial services arena, or the economy as a whole, now that four more years of President Bush are assured. Tiburon quoted saying that Bush was the right answer for the industry and his policies will be good for the brokerage and investment management markets.

November 1, 2004 Money Management Executive

Directed Brokerage Ban to Significantly Impact Business
The Securities & Exchange Commission's ban on funds directing trades to brokers in exchange for shelf space, or directed brokerage, has mutual fund companies scurrying for new ways to compensate distributors. Tiburon quoted saying that this new regulation may drive some consolidation in the mutual funds industry.

November 1, 2004 Investment News

Tiburon Summit Struts its Stuff
Tiburon CEO Summit has again showed why it might soon become the most coveted conference invitation on the financial services circuit. Article profiles recent Seventh Semi-Annual CEO Summit.

November 2004 Registered Representative

Wealth Transfer?  What Wealth Transfer?
Everyone talks about a transfer of trillions to baby boomers. But advisors should stop counting on it. Tiburon quoted suggesting skepticism of the size of the wealth transfer.

November 2004 Financial Planning

Investors Weigh in on Merrill Lynch Rule
High While many investors are not aware of the difference between a broker/dealer and an investment advisor, most back equality in regulation. Tiburon quoted saying that all advisor should be fiduciaries for all clients.

November 2004 Registered Representative

The Advisor as Traffic Cop
High net worth clients with multiple advisory relationships are increasingly hiring uber-advisors to make sense of it all. Tiburon quoted suggesting that this trend is coming down market from the family office market.

November 2004 Wealth Manager

Independents' Day
Article is Bloomberg's second annual listing of independent trust companies for advisors. Tiburon quoted saying that there are more than three million trust accounts in the US with about $2.5 trillion in assets.

October 29, 2004 Fund Action

Wirehouse Dominance of SMAs May Fall
Chip Roame, managing principal of Tiburon, said wirehouses may ultimately get about 25% of SMA sales, a figure comparable to...

October 25, 2004 Investment News

Spitzer Probe May Stunt NFP's Rampant Growth
Like her famous father, Jessica Bibliowicz is a professional deal maker. NFP has been subpoenaed as part of Eliot Spitzer's investigation into the insurance industry. Tiburon quoted saying that a depressed stock price will hinder their acquisition efforts.

October 11, 2004 Investment News

Genworth Financial Seeks CEO for its Broker/Dealer Subsidiary
On the heels of the year's largest initial public offering, Genworth Financial Corporation is looking to raise the profile of its broker/dealers subsidiary Terra Securities Corporation. Tiburon quoted saying that Terra has long been considered the third player in the tax professionals market.

October 4, 2004 Investment News

Banks Told it is Time to Hop on the Separates Train
When it comes to the banking industry's move into separately managed accounts, the general theme has become something along the lines of better late than never. Tiburon quoted saying that banks have enormous upside but are just beginning.

October 4, 2004 Investment News

Litman's Test: Get High Rollers to Aim Lower
Litman Gregory is planning to introduce a turnkey asset management product targeted at the lower end of clients of fee-only financial advisors. Tiburon quoted saying that Litman Gregory has a terrific name but that getting fee-only financial advisors to change their behavior is challenging.

October 2004 Registered Representative

The Rep's Ugly Friend
A study commissioned by The Hartford and Registered Representative magazine reveals for all brokers' reticence to sell insurance, most are doing so in order to round out their holistic financial practices. Tiburon quoted saying that investment professionals often see insurance professionals as guys who wear plaid jackets, like car salesmen.

October 2004 Registered Representative

Concerns Abound for Industry Growth
Profits dropped sharply in the second quarter for SIA firms, but it is not time to worry yet. Tiburon quoted saying the industry should not be worried yet.

October 2004 Financial Planning

Trust Me
Trust service providers are recognizing advisors as the key to their clients' assets - and adjusting service offerings to fit advisors' business models. Tiburon research report quoted saying that bundled pricing fees often start at 130 basis points while unbundled services start at about 40 basis points.

October 2004 Financial Advisor

Financial Advisor Symposium Conference Edition
Issue profiles upcoming Financial Advisor Symposium. Tiburon managing principal shows up repeatedly, including in publisher's note, in speaker biographies, and twice on agenda (Best Practices of Independent Reps & RIAs and How to Maximize Your Custodial Relationship).

October 2004 Investment Advisor

Empowering the Advisor Market
Special issue highlights upcoming Ameritrade advisor conference. Tiburon data widely cited in article and Tiburon Managing Principal Chip Roame' s upcoming speech profiled.

October 2004 Fund Marketing Alert

Federated Eyes Seminar for Baby Boomers
Federated Investors is considering the development of a seminar for advisors to share with their baby boomer clients. The Pittsburgh-based fund company already offers nine seminars on a variety of topics. Tiburon quoted saying that seminars are one of three or four best marketing methods for advisors.

September 28, 2004 Financial Planning

Will Traditional IRAs Rollover and Die?
The population of Americans over age 65 is expected to double by 2040, and many of these people will face the daunting task of managing their nest eggs to meet projected expenses for the rest of their lives. Tiburon quoted saying hat traditional IRAs will not go away.

September 24, 2004 Fund Action

International Expansion Seen for Separate Accounts
Europe and Australia may be the next big growth areas for retail separate accounts. Tiburon quoted saying that French, UK, and German banks are particularly interested in the market.

September 24, 2004 Fund Action

Separate Accounts Lag their Promise
... issues make the process easier. Chip Roame, managing principal at Tiburon Strategic Advisors, cites similar numbers.  But with...

September 23, 2004 Fund Fire

Banks Need Managed Accounts for Boomer Wealth
Retail banks have to offer managed accounts to their best private customers or risk missing out on the coming wealth management explosion. Tiburon managing principal quoted extensively from speech at recent Money Management Institute and Thomson Financial conference.

September 17, 2004 Fund Action

Reporter's Notebook
Chip Roame, managing principal of Tiburon Strategic Advisors, said, it will happen. He added that a provider can leverage data...

September 17, 2004 Financial Planning

Uneasy Rider: Why Separately Managed Accounts May Become the Baby Boomers' Investment Vehicle of Choice
Now that some of yesterday's easy riders are pushing 60, they are beginning to think seriously about their investments. Tiburon quoted pointing out that boomers are busier than their parents but also want to be in control, possibly leading to the growth of separately managed accounts.

September 13, 2004 Investment News

Goldman's Purchase of Ayco Looks Like a Mistake
Goldman Sachs made a bold move into financial planning last year by acquiring a national company with a plum market. But the move might backfire for both companies. Tiburon quoted saying that the match between Goldman Sachs and Ayco may not be as logical as perceived.

September 6, 2004 Investment News

New Look in Planning: Not Just Value But Values
Chuck Hollander has a perfectly respectable financial planning office in Bala Cynwyd, PA, on Philadelphia's tony mail line, so there is nothing wrong with seeing his clients there. Tiburon quoted saying that values-based planning is growing in importance.

September 2004 NAPFA Advisor

Q&A with Chip Roame, Managing Principal, Tiburon Strategic Advisors
Most readers will be familiar with Chip Roame and Tiburon Strategic Advisors through media coverage of Tiburon's research. However, Tiburon is not in business to serve advisor directly.  Article profiles Chip Roame and Tiburon Strategic Advisors.

September 2004 Financial Planning

Independents' Decade
If the 1980s marked the reign of full-service brokers and the 1990s saw the rise of discount brokers, the current decade will be known as the time when the independent advisor moved to the fore. Article profiles upcoming Tiburon research report, The Future of Advice.

September 2004 Research

Payout Paralysis
The large number of advisor stuck in neutral and forced to absorb more and more support costs are increasingly looking at the independent broker/dealer market. Tiburon quoted saying that the new regulatory environment will force a rewiring of compensation grids.

August 19, 2004 Running Money

Profile: Lord Abbett Overhauls Partnership, Products
Lord Abbett is planning for future growth. CIO Robert Dow is overhauling the very identity of Lord Abbett. Tiburon quoted regarding Lord Abbett's offering of core products.

August 16, 2004 Investment News

It is Open Season on Mid-Size Mutual Fund Firms
When AMG bought Fremont and decided to roll the latter's funds into its own offerings, the deal was seen as the start of another buying spree. Tiburon quoted saying that banks and insurers are leading the hunt.

August 16, 2004 Private Asset Management

Wachovia Launches Segmentation Strategy
Wachovia Wealth Management has kicked off the initial phase of its new market segmentation strategy. Tiburon quoted saying that this should allow Wachovia to gain a greater share of wallet with its clients.

August 13, 2004 American Banker

With Legal Group, Wachovia Back in Segmentation Game
Executives in Wachovia's wealth management division say that its new legal specialty group could generate significant revenues. Tiburon quoted saying that this is a good example of segmentation, a widely underutilized strategy in the financial services market.

August 2, 2004 Private Asset Management

Firms Seen Needing to Narrow Focus
Firms will need to shift their focus from investment to wealth management if they want to succeed in capturing a piece of what is projected to be $30 trillion in investable assets. Article profiles upcoming Tiburon research report The Future of Advice.

August 1, 2004 Financial Planning

Boomers' New Boom
Once again, I believe that baby boomers are going to drive a significant shift in our industry as they approach and pass through retirement over the next twenty years. Article quotes Tiburon statistics regarding baby boomers.

July 12, 2004 Accounting Today

Tiburon MP Says US Investable Assets Poised to Boom by 2010
The US market for consumer wealth is poised to triple by 2010, making it a great time to be in the financial advice business. Article summarizes interview with Tiburon Managing Principal Chip Roame, saying today's $17.1 trillion of investable assets will reach $30 trillion by 2010.

July 12, 2004 Investment News

Banks Make Inroads Into Separates Business
The banking industry may have finally found a way into the investment management business. Tiburon quoted saying that banks have only recently started thinking beyond offering proprietary money management to their clients and that proprietary money management is often more lucrative.

July 8, 2004 Running Money

Strategic Expansion Re-Energizes Eaton Vance
James Hawkes took over as CEO of Eaton Vance in 1996 and quickly laid out a vision. He wanted to diversify the fixed income shop. Tiburon quoted saying that Eaton Vance has made several smart acquisitions to position itself well in growing markets.

July 2004 CPA Wealth Provider

Feedback on Vendors
HD Vest has been named by Tiburon Strategic Advisors as broker/dealers by 65% of survey participants utilizing a broker/dealer or custodian. Article summarizes findings from Tiburon's tax pro best practices benchmarking tool.

July 2004 Research

Ready, Aim, Fire
Just a few years ago, it was rare that advisors would admit to having a behind-the-scenes coach but today that is changing. Good coaches can help advisors execute their plans and realize their ideal futures. Article quotes Tiburon saying that up to 30-40% of advisors may have coaches and that coaching is becoming mainstream.

July 2004 Financial Planning

Redefining Independence
Market forces are driving advisors and their broker/dealers into closer collaboration. Tiburon quoted saying that independent reps are relying on their broker/dealers more for three critical reasons.

July 2004 Financial Planning

The Shape of Things to Come
In Financial Planning's annual advisor roundtable, six planners and one consultant separate reality from hype, the truth from wishful thinking, and the steak from the sizzle. Article profiles recently conducted roundtable discussion that include Tiburon's Chip Roame.

July 2004 Trust & Investments

Open Architecture: The Wealth Management Platform of the Future
Banks and trust companies that service the affluent market recognize that the industry is in a period of significant transition. Article suggests Tiburon's fee-accounts research report as additional reading.

June 28, 2004 Fund Marketing Alert

Minority of Consumers' Worth is Fee-Based, Report Says
Only 15% of consumers' wealth is invested in fee-based accounts, a rate significantly lower than the trend that advisors frequently cite. Article quotes upcoming Tiburon research report on the Future of Advice.

June 1, 2004 Web CPA

Tiburon MP: US Investable Assets Poised to Boom by 2010
The US market for consumer wealth is poised to triple by 2010, making it a great time to be in the financial advice business, according to the managing principal of a market research & strategy consulting firm.  Article quotes Tiburon managing principal from recent Tiburon CEO Summit.

June 2004 Investment Advisor

Start Your Engines
Article draws parallel between the US automobile industry of the 1960s-1970s (which did not understand its clients and subsequently lost share) and today's financial services industry.  Author summarizes his learnings at Tiburon's recent sixth semi-annual CEO Summit and quotes Tiburon as saying the biggest challenge facing the investment industry is that few in the industry understand their customers.

June 2004 Investment Advisor

Know Your Market
Article summarizes three lessons learned by editor at Tiburon's sixth semi-annual CEO Summit: 1) there is no single correct way to run an investment practice, 2) the financial services business knows a lot less about its current and potential customers than other industries, and 3) those that understand customer needs will win.

 

June 2004 Investment Advisor

Special Report: A Revolution in Managed Accounts
Ameritrade's Advisor Services lays siege to the industry's status quo. Report quotes Tiburon research on segments of the consumer market and fee-only financial advisors'  low utilization of separately managed accounts.

June 2004 Financial Planning

Asking for Seconds
SEI thinks that it can grab the wealthy baby boomer market and make advisors more profitable by creating a wealth management platform for advisors. Tiburon quoted saying that 30% of SEI advisors likely account for 90% of its assets and that this is an innovative business strategy.

June 2004 Financial Advisor

The Next Wave
In late April, I had the opportunity to attend a panel discussion of four female customers talking about their experiences as investors. The discussion was part of a two-day conference sponsored by Tiburon Strategic Advisors in San Francisco. Article summarizes Editor's learnings from recent Tiburon CEO Summit.

June 2004 Financial Advisor

RIA Regulatory Overhaul will be Dramatic
Regulatory changes that are likely to emerge out of Washington may be far-reaching, but they are unlikely to hurt the overall position of the advisory profession. That was the message that Julie Allecta, partner at Paul, Hastings, Janofsky, & Walker, had for attendees at Tiburon Strategic Advisors' conference in late April. Article profiles learnings from recent Tiburon CEO Summit.

June 2004 Financial Advisor

Despite Troubles, MFS and Putnam Remain Popular With Some
Regulatory problems apparently have not caused too many tax professionals to shy away from MFS and Putnam mutual funds. Recent data released from Tiburon Strategic Advisors, collected at its various benchmarking web sites, indicates that the two fund families are among the most popular used by tax professionals.

June 2004 Research

Shakeout: Who will be Left Standing? How Should Advisors Choose a Partner?
The squeeze on revenue sharing and increased compliance costs will transform the economics of the independent sector. Tiburon quoted saying that the industry's economics are being correctly sorted out.

May 25, 2004 San Francisco Chronicle

Wells in Position to Grow Rapidly
Wells Fargo will strengthen its mutual fund portfolio significantly if it proceeds with its expected acquisition of scandal-plagued Strong Capital Management. Tiburon quoted saying that Wells has been an aggressive player in the brokerage and asset management markets, and properties like Strong come along infrequently.

May 17, 2004 Accounting Today

Survey: Tax Prep Generates Half of Sole Pracs' Earnings
The typical independent tax practitioner makes more than half of her revenues from tax services, according to a best practices survey of over 1,200 professionals. Article summarizes recent Tiburon research release from Tax Pro Best Practices.

May 14, 2004 Financial Advisor

RIA Regulations May be on Horizon
Investment advisors are facing new far-reaching regulations out of Washington, DC, that could increase costs, but they are unlikely to hurt the overall advisory profession. Article quotes speech by Julie Allecta, a Tiburon fellow and partner at Paul, Hastings, Janofsky, & Walker, at Tiburon's recently completed sixth semi-annual CEO Summit.

May 14, 2004 Financial Advisor

Advisory M&A Heats Up
The market for advisory practices is suddenly one of the hottest topics on the conference circuit. At separate meetings sponsored by the National Association of Personal Financial Advisors (NAPFA) and Tiburon Strategic Advisors in late April, the subject of mergers and acquisitions was near the top of the agenda. Article quotes Keith Mitchell, a Tiburon fellow and president of Mitchell Advisers, speaking at Tiburon's recently completed sixth semi-annual CEO Summit.

May 10, 2004 Investment News

Summit Unites Custodian Rivals, Ex-Rivals
The Tiburon CEO Summit in San Francisco was the conference of the year for financial advisory executives who care to see and be seen. Jay Lanigan, Tom Bradley, Derek Bruton, John Tyers, Jim Wangsness, Phil Nicolaou, and Skip Schweiss all broke bread together April 26-28. Article profiles the most recent sixth semi-annual Tiburon CEO Summit.

May 3, 2004 Investment News

Access to Alternatives Makes Platform a Hit
Advisers increasingly are turning to a specialized trading platform that gives them access to a number of sophisticated investments. Tiburon quoted saying that financial advisors have widely varying business models, allowing many models to succeed.

May 3, 2004 Investment News

Oppenheimer Funds Score with Tax Pros
Funds offered by Oppenheimer and MFS are each used by 47% of tax professionals, making them the most widely utilized fund families in this market. Article quotes recent Tiburon research release from Tax Pro Best Practices.

May 3, 2004 Investment News

Separates May Not be Delivering for Investors
Diversification in separately managed accounts might not be all that it is cracked up to be. It became apparent at last week's MMI conference that some investors may not be getting the kind of customized asset allocation associated with the managed accounts marketplace. Tiburon quoted encouraging managers and program sponsors to focus more closely on consumer needs.

May 3, 2004 Investment News

Next Big Thing for Separates: IRA Rollover Dollars
The separately managed accounts industry may finally be awakening to opportunities presented by individual retirement account rollovers and such rollovers could represent the next big thing for managed accounts. Tiburon quoted saying that IRA rollovers are a huge opportunity.

May 2004 Investment Advisor

Marriage Wave
The wave of marriages and acquisitions that is reshaping the ranks of independent managed account providers shows no signs of receding. In April, the latest two firms to tie the knot were EnvestnetPMC and Net Asset Management. Tiburon quoted saying that SEI Investments is the largest TAMP with $26 billion of assets under management.

May 2004 Practical Accountant

Tax Practitioners into Financial Planning
A Comprehensive Overview of the Product Usage, Business Models, & Best Practices of Independent Tax Professionals is a Tiburon survey of tax professionals based on the replies of 1,210 respondents who took an online survey. Article summarizes findings from that survey.

May 2004 The Institutional Real Estate Letter

The Long and Short of It
Over the past couple of years, institutional investors have warmed up considerably to hedge funds and publicly traded real estate securities. It makes sense, then, that the area where these two converge, the real estate hedge fund, would begin to appear on institutional investors' radar screens. Tiburon quoted saying that real estate may be the next fast growing alternative asset class.

April 29, 2004 Private Asset Management

SMAs Target Baby Boomers
Chip Roame, managing principal at consulting form Tiburon Strategic Advisors, speaking at the Money Management Institute's annual...

April 26, 2004 Fund Marketing Alert

SMAs Target Baby Boomers
GE Private Asset Management, MFS Investment Management, and Alliance Bernstein are considering or planning to roll out separately managed account offerings and marketing tools targeting baby boomers getting ready to retire. Tiburon quoted saying that baby boomers represent a hot market for SMA providers because these investors are looking for flexible vehicles that they can easily withdraw assets from without having to pay penalties.

April 26, 2004 Fund Marketing Alert

SMAs Need to Focus on RIAs
Separately managed account officials attending the MMI annual annual convention believe that there is tremendous opportunity to distribute their offerings through the independent advisor channels. Tiburon quoted saying that fee-only financial advisors are booming and not using separately managed accounts.

April 26, 2004 Fund Marketing Alert

Seen N' Heard
A number of hedge fund representatives at the Money Management Institute were a bit miffed at Chip Roame who referred to hedge funds as investment vehicles that rape and pillage investors.

April 26, 2004 Fund Marketing Alert

Quote of the Week
Tiburon Managing Principal quoted as saying, if you run the demographics, you will have a beautiful business for twenty years.

April 26, 2004 Investment News

Vanguard Advice Flies Beneath the Radar
Vanguard's advisory services unit is experiencing a growth spurt after almost eight years of quietly dispensing financial advice. Tiburon quoted saying that advisors who feel threatened by this telephone-based service should re-evaluate their own service offerings.

April 26, 2004 Money Management Executive

Roame is Burning Over SMA Clients' Needs
Stop congratulating yourself. That was the sobering message Chip Roame had for members of the separately managed account industry at the Money Management Institute's annual convention in Boston last week.  Article summarizes speech by Tiburon Managing Principal Chip Roame.

April 21, 2004 Registered Representative

Separately Managed Accounts in Beantown
The theme of this years' Money Management Institute conference on separately managed accounts might as well have been 'what have you down for me lately?' Tiburon quoted saying that MSPs and UMAs are a great step forward, but only that.

April 12, 2004 Fund Marketing Alert

CEO Summit Addresses Scandals, Indexes, ETFs
Next week's Tiburon Strategic Advisors' CEO Summit is scheduled to address the recent scandals, as well as fund indexes and exchange traded funds, among other topics. Article profiles Tiburon's upcoming sixth semi-annual CEO Summit.

April 12, 2004 Fund Marketing Alert

Tax Pros Avoid IRAs, Consultant Says
Tax professionals avoid handling individual retirement accounts for their clients because the profit margins are too low, say industry experts. Article utilizes data from Tiburon's Tax Pro Best Practices tool to say that Tom Gau is the most popular conversion coach for tax professionals.

April 12, 2004 Investment News

Unified Managed Accounts Seen Fueling Growth of Already Hot Separates
The separately managed accounts industry, estimated at $500 billion and growing fast, has collectively zeroed in on the advantages of the unified managed accounts. Article addresses upcoming keynote speech of Tiburon Managing Principal Chip Roame at the MMI Annual Conference.  Article says Roame will warn industry to stay focused on delivering on client needs.

April 12, 2004 Money Management Executive

EnvestnetPMC to Acquire Net Asset Management
EnvestnetPMC has put out an undisclosed bid to acquire Net Asset Management, another web-based turnkey provider of separately managed accounts, mutual funds, and alternative investments. Tiburon quoted saying that size and depth are critical as the TAMP industry consolidates.

April 12, 2004 Fund Marketing Alert

Indy Tax Pros Need Help with Client Conversions
Independent tax professionals need help converting their businesses to financial planning services, according to research by Tiburon Strategic Advisors. Article quotes data from Tiburon's Tax Pro Best Practices research report.

April 6, 2004 Fund Fire

UBS Brings Manager Alpha to Unified Accounts
UBS Wealth Management is attempting to use its recently launched unified managed account program to introduce a new way of combining managers. The emphasis is on blending managers in relation to how they generate alpha, in addition to the more traditional style-box match up. Tiburon quoted saying that this amounts to a new approach to asset allocation.

April 5, 2004 Investment News

Finding Billions in Unlikely Places
Dimensional Fund Advisors is quietly finding advisor assets in multibillion-dollar chunks by looking in an unlikely place - the world of certified public accountants. Tiburon quoted saying that DFA has many followers within the CPA industry.

April 5, 2004 Investment News

SEI to Focus Resources on All-Star Producers
In what some analysts call a risky move, SEI Investments is culling thousands from its advisor network and directing the resources it saves to a few hundred all-star performers. Tiburon quoted saying that this is a business gamble whereby SEI is making a quality versus quantity decision.

April 1, 2004 American Banker

EnvestnetPMC to Gain Heft in Consolidation Segment
EnvestnetPMC has pushed the consolidation trend in the turnkey asset management program segment of the securities industry one step further with its deal for Net Asset Management. Tiburon quoted saying that the market is saturated and consolidation is inevitable.

April 2004 Financial Planning

Cherry Picking
This could be a big year for selective deals, from individual wealth managers to broker-dealer firms. Tiburon quoted saying that there is a size premium in the market and that firms like LPL could have the market begging.

April 2004 Financial Advisor

TD Waterhouse Comes of Age
Service and technology drive the custodian's success.  Recent conference well attended and festive. Tiburon data quoted, reporting that FA Best Practices. Com confirms recent TD Waterhouse success.

March 23, 2004 Fund Fire

Northern Opens Bank Network to Managed Accounts
Northern Trust has unlocked a network of community banks to separately managed accounts. Tiburon quoted saying that Global Bridge has laid the ground work for a significant push into the small and mid-sized bank market, which has significant growth opportunities.

March 19, 2004 Financial Advisor

Survey: Tax Professionals Gain From Financial Planning
Tax professionals stand to gain tens of thousands of dollars in additional revenues by adding financial planning to their practices. Article summarizes recent research release based on Tiburon Tax Pro Best Practices benchmarking tool.

March 1, 2004 Fund Marketing Alert

Tiburon: Tax Pros Favor Oppenheimer, MFS, Putnam
Oppenheimer Funds, MFS Investment Management, and Putnam Investments are the three top choices for tax professionals that have entered the financial planning business, according to research by Tiburon Strategic Advisors. Article summarizes findings in Tiburon's Tax Pro Best Practices Survey.

March 2004 Registered Representative

A Measure of Independence
Raymond James and Wachovia will start allowing advisors to switch channels. Tiburon quoted saying that the industry will likely see more advisors jumping between channels and that models like this will even be offered in the larger wirehouses.

March 2004 Financial Planning

Up-Front: On the Road
Article summarizes upcoming Money Management Institute Annual Convention. Tiburon's Managing Principal listed as featured speaker.

March 2004 Financial Advisor

Winning the War
Tiburon credited with pointing out the fact that the flow of new assets is going to the independent advisor channels versus full-service or even discount brokerage firms.

March 2004 Financial Advisor

Pace of Advisor M&A Accelerates
Make no mistake - when it comes to mergers and acquisitions among advisory firms, it's still a seller's market. Tiburon quoted saying that the industry is steadily aging and at the same time interest in the advisory firm model remains high.

February 29, 2004 Private Asset Management

BofA Unveils New MDA Platform
Bank of America has rolled out its first multi-discipline account program called Portfolio Strategies. Tiburon quoted saying that the bank has huge potential with its bank brokerage force.

February 23, 2004 Ignites.Com

New Supermarket Offers Timers a Place to Trade
As scores of fund groups throw up barriers to stop market timers, a new fund supermarket is being launched to cater to active traders. Tiburon quoted saying that Millennium's strategy is focused and that bodes well for success.

February 16, 2004 Fund Marketing Alert

Morningstar Says: Alliance Upgrade May be Last for a While
Alliance Bernstein, which last week became the first fund provider involved in the trading scandals to be upgraded by Morningstar, may be the last for a while, said Morningstar analysts. Article quotes Tiburon Independent Rep Best Practices survey that 67% of financial advisors use Morningstar's investment research.

February 11, 2004 Morningstar

Tiburon Study: Morningstar is Financial Advisors' Preferred Provider
Morningstar is the number one source for financial planning technology and investment data among financial advisors, according to a recent survey from research-based consulting firm Tiburon Strategic Advisors.  Article profiles results of Tiburon Independent Rep benchmarking tool.

February 5, 2004 USA Today

TD Waterhouse Offers Advisors Exceptional Technology, Service, and Value
Did you know that TD Waterhouse Institutional Services was ranked #1 in several categories by advisors in an independent survey by Tiburon Strategic Advisors?  Article summarizes findings from Tiburon's Fee-Only Financial Advisor Best Practices survey.

February 2004 Investment Advisor

Measuring Up
Is your practice a success? Try comparing it with others that are thinking.  As with all small business owners, successful fee-only financial advisors ultimately reach a stage of development that calls for a greater focus on the business aspects of the practice. Article is the third in a three part series written by Tiburon managing principal Chip Roame.

January 15, 2004 Fund Fire

NSCC Managed Account Hub Wins Popular Vote
Supporters and opponents of the National Securities Clearing Corporation's plan to provide a standardized communication platform for the separately managed accounts industry have made their views public in filings with the Securities and Exchange Commission, the body charged with deciding the issue. Tiburon quoted saying that everybody wants common protocols but that when it gets down to the level of implementation, people start coming out to defend their turf.

January 5, 2004 Advisor Page

Tiburon Releases Feedback on Custodians Gathered From Fee-Only Financial Advisors
Tiburon Strategic Advisors, a research-based consulting firm serving the brokerage and investment management industry, manages a set of free benchmarking tool made available to various types of financial advisors.  Article profile learnings regarding custodians from Tiburon's fee-only financial advisor benchmarking tool.

January 5, 2004 Money Management Executive

Ameritrade Emerges as Small, But Able Giant
Ameritrade is finally seeing the fruits of its labor, especially when it comes to its Adviser Services division. Tiburon quoted saying that Ameritrade is one of the new custodians that will be at the forefront of the lower end market.

January 2004 Research

Get a Life!
With a new year comes reflection: Am I running my practice in sync with my values? Are my clients people I enjoy or dread? Am I on target with my personal, financial, and business goals? Article quotes Tiburon saying that conversations regarding life balance are becoming much more frequent.

January 2004 Investment Advisor

Eyes on the Prize
In this, the second of a three-part series on the challenges facing fee-only financial advisors, the authors address the use of technology. For some, technology represents their worst fear, a mysterious, perplexing world of hard drives, servers, and software. For others, it is an essential partner, an almost magical tool that helps solve their most pressing management and administrative challenges. Article by Tiburon managing principal addresses opportunities in the use of technology.

January 2004 Registered Representative

Life Insurance & the Well-Rounded Rep
Advisors aspiring to the title of wealth manager need to bone up on their insurance knowledge, as painful as that process might be. Tiburon quoted saying that there are five important facets of wealth management, and two of them involve insurance.

January 2004 Financial Advisor

Custodians are Knocking
More firms are looking for custody relationships with RIAs. More custody players have been clamoring for the business of registered investment advisors, and that trend will continue this year. Tiburon quoted extensively saying that the flood of new entrants into the custody business is concentrated in two different market segments.

LINKS TO ARCHIVES FOR THE YEARS

The extensive list of Tiburon quotes has required the use of multiple web site pages. Please click on the links above to view older or more recent article summaries.