Fee-Based Financial Advisors (RIAs):
The Fastest Growing Financial Services Market & Distribution Channel

Recently Released!!!
Date Published: June 29, 2018
Summary Power Point Deck: 67 Slides
Reference Power Point Deck: 728 Slides

The purpose of this research is to provide readers with a comprehensive understanding of the fee-based financial advisors (RIAs) market, the fastest growing financial services market & distribution channel. This research provides a top down view of the market, including historical & projected numbers of fee-based financial advisors (RIAs), and their number of clients, accounts, assets under management, net flows, revenues, & net profits. A parallel Tiburon research topic, called A Comprehensive Overview of the Product Usage, Business Models, & Best Practices of Fee-Based Financial Advisors, provides extensive bottom up analysis of the specific actions of fee-based financial advisors. Some fee-based financial advisors are dually registered, hanging a brokerage license at a friendly independent broker/dealer while also maintaining their own RIA; those fee-based financial advisors are referred to as dually registered financial advisors in this research and are likewise addressed in Tiburon's independent reps research. This research is a part of Tiburon's broader coverage of independent advisors.

This research begins with a broad market background explaining the reasons that measuring fee-based financial advisors is difficult, including:

  • Overlapping Federal & State Registration Processes
  • Non-Fee-Based Financial Advisors Included in Registered Investment Advisors (RIA) Definition
  • Some Fee-Based Financial Advisor Look Alikes Not Counted in Registered Investment Advisor (RIA) Definition
  • Dually Registered Financial Advisors Often Double Counted
  • Use of Multiple Custodians Leading to Double Counting

The research presents the key methods of measuring the fee-based financial advisors (RIAs) market, including:

  • Bottom Up
  • Top Down

This research then addresses the key historical phases of fee-based financial advisors (RIAs), including:

    • Formation Phase
    • Expansion Phase
    • Maturation Phase

The research highlights fee-based financial advisor (RIA) market growth & the leading firms.

This research defines distinct markets segments of fee-based financial advisors (RIAs), including:

  • Securities & Exchange Commission (SEC) Registered Fee-Based Financial Advisors (RIAs)
  • State Registered Fee-Based Financial Advisors (RIAs)

This research then defines the key service providers to fee-based financial advisors (RIAs), including:

  • Custodians, Independent Broker/Dealers, & Clearing Brokers
  • Mutual Fund Companies & Other Investment Product Companies
  • Technology Companies, Turnkey Asset Management Programs (TAMPs), & Outsourcing Service Providers

And this research makes several future predictions for fee-based financial advisors (RIAs), including:

  • Moderate Growth in the Number of Fee-Based Financial Advisors (RIAs) & Rapid Growth in their Assets Under Management
  • Continuing Central Role of Custodians, Including those Beyond the Big Four
  • Growing Use of Exchange Traded Funds (ETFs), Alternative Investments, & Wealth Management Products
  • Continuing Search for the Technology Holy Grail & Opportunities in Outsourcing
  • Consolidation of Fee-Based Financial Advisors (RIAs)
  • Rapid Growth in Private Equity Investments
Public Access

Please click on the Table of Contents icon below to see more details of this research.

Media Access

Members of the media who would like further access to the components of this research may click on the icon below or send an email to Sarah Sage.


Client Access

Tiburon Research Access Program subscribers and individual research subscribers may click on any of the icons below to access any part of this research.

Tiburon Research Orders

Subscribe

If you are having difficulties subscribing to Tiburon research online please contact Sarah Sage at SSage@TiburonAdvisors.Com or 415-789-2540.