Financial Advisor Channels:
An Overview of Full-Service Brokerage Firms; Independent Advisors; Insurance Agencies, Brokers, & Producer Groups; & Other Financial Advisor Channels

Recently Released!!!
Date Published: January 31, 2017
Summary PPT Deck: 62 Slides

Reference PPT Deck: 326 Slides

The purpose of this research is to provide readers with a comprehensive understanding of the financial advisor channels, including full-service brokerage firms; independent advisors; insurance agents, brokers, & producer groups; bank brokers & trust officers; and the various upscale channels. This research also includes a preliminary analysis of real estate professionals, including real estate agents & mortgage brokers, who seem poised to become broader financial advisors. This research serves to highlight the key findings of each of these underlying Tiburon research topics. Discount & online brokerage firms and online advice firms (robo advisors), that increasingly may need to be included in this research, are presently addressed separately in Tiburon's online channels research. Other Tiburon research topics address the institutional and international channels.

This research addresses the five historical phases of the financial advisor channels, including: 
  • Bank Dominance Phase
  • Full-Service Brokerage Firms Emergence Phase
  • Discount Brokerage Firms Emergence Phase
  • Independent Advisors Emergence Phase
  • Financial Advisor Aggregators & Online Advice Firms Emergence Phase

    This research addresses six financial advisor channels, including:

    • Full-Service Brokerage Firms
      • Wirehouse Firms
      • Regional Broker/Dealers
    • Independent Advisors
      • Independent Reps
      • Fee-Based Financial Advisors
    • Insurance Agencies, Brokers, & Producer Groups
      • Life & Health Insurance Agencies, Brokers, & Producer Groups
      • Property & Casualty Insurance Agencies, Brokers, & Producer Groups
    • Retail Banks
      • Bank Brokers Business
      • Bank Trust Officers Business
    • Upscale Channels
      • CPA Firms (Tax & Financial Planning Businesses)
      • Law Firms (Trusts & Estates Businesses)
      • Private Banks
      • Investment Banks (High Net Worth Brokerage Businesses)
      • Sports Agents & Business Managers
      • Family Offices
    • Real Estate Professionals
      • Real Estate Agents
      • Mortgage Brokers

And this research makes five predictions, including: 

  • Number of Financial Advisors to Stagnate
  • Discount Brokerage Firms & Online Advice Firms to Continue to Gain Market Share
  • Steady Flow of Break-Away Brokers
  • Fee-Based Financial Advisors to Gain Market Share
  • Increasingly Broad Set of Financial Advisor Business Model Choices to Emerge
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