January 30, 2009

The purpose of this report is to provide readers with an initial overview of the independent reps & independent broker/dealers markets, 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 Services, Raymond James, Royal Alliance, FNIC, Securities America, & Commonwealth Financial Network. This is Tiburon’s third draft of this report.

Tiburon’s first draft of this report was written in 2005; that version focused primary on developing an organized structure for reviewing the independent rep & broker/dealer market, and establishing profiles of the hundreds of complex industry participants, many of which are owned by insurance companies.

Tiburon’s second draft of this report was written earlier in 2008; that version focused on refining the market history chapter, incorporating some recent Tiburon research on independent broker/dealers’ technology offerings, and building complete frameworks for all broker/dealers’ profiles.

This is Tiburon’s third draft of this report. This version brings this report into alignment with other Tiburon research reports, fleshes out its market history chapter, incorporates recent Tiburon research on rep recruiting, begins to reconcile the list of independent broker/dealers, and enhances the profiles of some core Tiburon clients, including Cambridge Investment Research, Commonwealth Financial Network, LPL Financial Services, & Securian Financial Group... More

Please click here to go straight to this report's table of contents.

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