Independent Advisors:
Independent Reps, Fee-Based Financial Advisors (RIAs), & Dually Registered Financial Advisors

Recently Released!!!
Date Published: June 27, 2018
Summary PPT Deck: 80 Slides
Reference PPT Deck: 165 Slides


The purpose of this research is to provide readers with a comprehensive understanding of independent advisors, including independent reps, fee-based financial advisors (RIAs), & dually registered financial advisors, which are collectively the fastest growing financial advisory market & distribution channel. Data on these interrelated markets can be confusing due to fee-based financial advisors' definition as a sub-set of registered investment advisors (RIAs), independent broker/dealers' overlap with insurance broker/dealers, and the overlap in dually registered financial advisors within the definition of independent advisors. This research summarizes the highlights of these underlying topics. This research is part of Tiburon's broader coverage of financial advisor channels.

This research addresses the key historical phases of independent advisors, including:
  • Emergence Phase
  • Growth Phase
  • Maturization Phase

    This research defines the core markets segments of independent advisors, including:

    • Independent Reps
    • Fee-Based Financial Advisors (RIAs)
    • Dually Registered Financial Advisors

    And this research offers several future predictions for independent advisors, including:

    • Steady Modest Size Flow of Break-Away Brokers
    • Continued Rapid Growth of Independent Advisors
    • Fee-Based Financial Advisors & Dually Registered Financial Advisors to Capture Over 100% of Net Flows
    • Largest Fee-Based Financial Avisors to Build Nationwide Franchisees
    • Independent Advisors to Become Central to Product & Technology Companies Strategies
    • Emergence of Independent Advisor Markets Outside of the United States of America

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