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Recently Released!!!
Date Published: December 2011
Comprehensive PPT Deck: 1,396 Slides
Summary PPT Deck: 96 Slides
The purpose of this research is to provide readers with an initial understanding of the independent reps & independent broker/dealers market, which is a booming market of over 90,000 series seven registered reps who own their own businesses and utilize independent broker/dealers such as LPL Financial, Raymond James, Securities America, & Commonwealth Financial Network. A parallel research topic published by Tiburon, called A Comprehensive Overview of the Product Usage, Business Models, & Best Practices of Independent Reps, provides extensive bottom up analysis of the specific actions of independent reps. This research provides a top down view of the market. Some independent reps are dually registered, having their own RIAs; those reps are referred to as hybrid reps in this research and are likewise addressed in Tiburon’s fee-based financial advisor (RIAs) research.
This research addresses the four historical phases of the independent reps & independent broker/dealers market, including:
- Industry Emergence Phase
- Rapid Industry Consolidation Phase
- Firm Restructurings Phase
- Industry Maturation, Failures, & Resurgence of Acquisitions Phase
And this research makes four future predictions for the independent broker/dealer business, including:
- Further of LPL Financial’s Distancing Itself from the Pack
- Rapid Industry Growth with Growing Importance of Hybrid Advisors
- Recruiting War, Continued Profitability Pressures, Payout Rate Pressures, Value Added Playing Field, & Continued Consolidation
- A Revolution Predicted: Wirehouse Entrants
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