June 6, 2017

Tiburon Research Call:
Break-Away Brokers

Tiburon Strategic Advisors and its Managing Partner Chip Roame are pleased to announce that the next Tiburon Research Call will be on Break-Away Brokers. It will be held Thursday, June 8, 2017 at 10:00am PT. All employees from Tiburon CEO Summit sponsors and Tiburon members, as well as media representatives who cover Tiburon Research, are invited to join this call with Managing Partner Chip Roame. This is one of over 40 Tiburon Research Calls set for this year. To see the full Tiburon Research Calls schedule, click here.

If you are an employee at a Tiburon CEO Summit sponsor or Tiburon member and would like to listen, please email Lupita Uribe to RSVP. If you are an employee at a firm that is not yet a Tiburon CEO Summit sponsor or Tiburon member and would like to become a client to obtain access to Tiburon Research Calls, please email Sarah Sage.


Prior Tiburon Research Call:
Online Advice Firms

Employees at Tiburon CEO Summit sponsors and Tiburon members that missed this week's Online Advice Firms Tiburon Research Call led by Tiburon Managing Partner Chip Roame can access the recording on the Tiburon web site by clicking the link below and loging in with your username & password.

If you are an employee at a Tiburon CEO Summit sponsor or Tiburon member and need your username & password to access this Tiburon Research Call, please email Lupita Uribe. If you are an employee at a firm that is not yet a Tiburon CEO Summit sponsor or Tiburon member and would like to become a client to obtain access to this Tiburon Research Call, please email Sarah Sage.


Skip & Chip's Excellent Adventure 6.0:
Kauai, July 9-13, 2017

Tiburon Managing Partner Chip Roame and Tiburon client Skip Schweiss (President, TD Ameritrade Trust Company) will co-lead the annual Skip & Chip’s Excellent Adventure July 9-13, 2017 to Kauai. On July 9th the group will hike the Kalalau Trail in-and-out for a total of 22 miles. On July 11th the group will kayak the seventeen miles along the Napali Coast.

This will be the sixth in the series, in which participants have reached the tops of Mount Whitney & Mount Shasta, traversed the Grand Canyon, summited Half Dome in Yosemite, and completed the Four Pass Loop outside of Aspen, CO. The annual outing combines a challenging outdoor adventure with a fun weekend together. For more information, please email Skip Schweiss (President, TD Ameritrade Trust Company).


Tiburon Impact Adventure 2.0:
Mexico, January 27-28, 2018

Tiburon Managing Partner Chip Roame, Hanson McClain Co-CEO Scott Hanson, Riskalyze CEO Aaron Klein, & First Rate President Craig Wietz will lead Tiburon Impact Adventure 2.0 to build houses in San Antonio Del Mar, Mexico on January 27-28, 2018. For more information, please contact Craig Wietz (President, First Rate).
Tiburon Impact Adventure 1.0 was led by Tiburon Managing Partner Chip Roame, and Tiburon clients Centana Growth Partners Managing Partner Ben Cukier, Hanson McClain Co-CEO Scott Hanson, & Riskalyze CEO Aaron Klein in Ethiopia on January 15-18, 2017. While on the Tiburon Impact Adventure, the group spent a couple of days on-site at an Ethiopian school, as well as in Addis Ababa. If you are interested in the results of Tiburon Impact Adventure 1.0, please email Aaron Klein (CEO, Riskalyze).

Tiburon Impact Adventures are intended to connect first world finance with developing world needs. If you are interested in the Tiburon Impact Adventures generally, would like to propose a future Tiburon Impact Adventure, and/or in wish to inquire about taking part in future Impact Adventures, please email Scott Hanson (Co-CEO, Hanson McClain).


Tiburon CEO Summit XXXII:
Keynote Presentation Day #2 Overview

Tiburon and its Managing Partner Chip Roame presented the Tiburon CEO Summit XXXII Day #2 Keynote Presentation on Wealth Management Strategic Industry Activity. The purpose of this research was to address strategic activity in the wealth management industry, including venture capital, public offerings, and mergers & acquisitions. The purpose of this presentation was to to offer a unique method of summarizing a broad set of industry activity and to set a discussion agenda for the second day of Tiburon CEO Summit XXXII.

Tiburon CEO Summits provide a unique opportunity for leaders from throughout the financial services industry to gather to collaborate & candidly discuss the future of the industry. If you are a C-level executive at a Tiburon CEO Summit sponsor or Tiburon member and would like to participate in Tiburon CEO Summit XXXIII (October 9-11, 2017 in San Francisco, CA), please email Tiburon's Managing Partner Chip Roame. If you are a C-level executive at a firm that is not yet a Tiburon CEO Summit sponsor or Tiburon member and interested in becoming such to attend the Tiburon CEO Summits, please email Sarah Sage.


Tiburon Written Research:

Break-Away Brokers:
The (Overstated) Trend of Captive Investment
& Insurance Advisors Going Independent

Tiburon Strategic Advisors is pleased to highlight its research on Break-Away Brokers. The purpose of this research is to provide readers with an understanding of the (overstated) break-away brokers trend. Break-away brokers are generally defined as captive (employee) financial advisors from the wirehouses, regional brokerage firms, investment banks, private banks, retail banks, insurance companies, & even discount brokerage firms that choose to go indepedent, repositioning their businesses as independent advisors (independent reps and/or fee-based financial advisors (RIAs)). That said, industry data is extremely sloppy, with many sources confusing data for financial advisor teams, financial advisors, & registered assistants, other sources including financial advisors nudged out by their former employers due to low productivity (broken away brokers), and almost all sources including captive advisors that simply move to other captive models and independent advisors that move to other independent models. Hence, the goal of this research is to accurately measure the narrowly defined break-away brokers trend of successful financial advisors moving from captive to independent models. This research leads to critical conclusions for Tiburon's coverage of financial advisor channels, full-service brokerage firms, insurance agents, and independent advisors.

This research addresses the reported movement size and the sources of financial advisor teams and financial advisors changing firms. This research then re-sizes the break-away brokers trend to only count successful financial advisors who move from captive to independent models, utilizing three overlapping yardsticks, including financial advisor teams & financial advisors changing firms; successful financial advisor teams & financial advisors changing firms; & successful break-away brokers.

And this research makes predictions, including continuing moderate size trend of financial advisor teams & financial advisors changing firms; insurance companies & independent broker/dealers to rival wirehouses as leading sources of financial advisor teams & financial advisors changing firms; continuing relatively small trends of successful financial advisor teams & financial advisors changing firms; captive-to-captive and independent-to-independent movement trends to remain larger than break-away brokers trend; moderate growth in the relatively small break-away brokers trend; financial advisor aggregators to continue to capture largest break-away brokers; & continuing extremely small boomerang trend.

If you are an employee at a Tiburon CEO Summit sponsor or Tiburon member and need your username & password to access Tiburon's Written Research, please email Lupita Uribe. If you are an employee at a firm that is not yet a Tiburon CEO Summit sponsor or Tiburon member and would like to become a client to obtain access to Tiburon Written Research, please email Sarah Sage.


Tiburon Written Research:

Envestnet:
A Leading Wealth Management Technology & Investment Management Platform

Tiburon Strategic Advisors is pleased to highlight its research on Envestnet. Envestnet was founded by Jud Bergman, Jim Lumberg, & Brandon Thomas in 1999. The firm is based in Chicago, IL. Envestnet has fourteen offices, 2,665 employees, $578.2 million gross revenues, $242.8 million adjusted revenues, $80.3 million gross profits, $21.0 million earnings before interest, taxes, depreciation, & amortization, $78.0 million adjusted EBITDA, $11.4 million operating income, $22.0 million adjusted operating income, -$40.5 million pre-tax income, -$55.6 million net profits, & $19.3 million adjusted net profits. The company is led by its CEO Jud Bergman, Vice Chairman Anil Arora, President Bill Crager, & Chief Operating Officer Josh Mayer. Envestnet is a public company trading on the New York Stock Exchange under the symbol ENV.

Envestnet's comprehensive Power Point deck below includes a synopsis of its history, including its key phases: core acquisitions & key alliances phase; initial public offering phase; & business expansion phase. Its profile includes the key statistics of the firm, including its number of offices, employees, gross revenues, adjusted revenues, gross profits, gross profit margin, operating expenses, adjusted operating expenses, EBITDA, adjusted EBITDA, adjusted EBITDA margin, EBIT, EBIT margin, operating income, operating income margin, adjusted operating income, adjusted operating income margin, non-operating income, pre-tax income, pre-tax income margin, income taxes, tax rate, net profits, net profit margin, adjusted net profits, adjusted net profit margin, & cash flows.

ts profile includes detailed outlines of its core businesses, including: Envestnet enterprise (Advisor Suite; Envestnet PMC; & licensing); & Envestnet Yodlee. And its profile concludes with the highlights of its organizational structure & ownership.

If you are an employee at a Tiburon CEO Summit sponsor or Tiburon member and need your username & password to access Tiburon's Written Research, please email Lupita Uribe. If you are an employee at a firm that is not yet a Tiburon CEO Summit sponsor or Tiburon member and would like to become a client to obtain access to Tiburon Written Research, please email Sarah Sage.


Recent Tiburon Research Calls

All employees at Tiburon CEO Summit sponsors & Tiburon members have access to Tiburon Research Calls led weekly or bi-weekly by Tiburon Managing Partner Chip Roame. To listen to recent calls, click the link below for your topic of interest, and enter your Tiburon username & password:

If you are an employee at a Tiburon CEO Summit sponsor or Tiburon member and need your username & password to listen to recent Tiburon Research Calls, please email Lupita Uribe. If you are an employee at a firm that is not yet a Tiburon CEO Summit sponsor or Tiburon member and would like to become a client to obtain access to Tiburon Research Calls, please email Sarah Sage.


Recently Posted Tiburon Written Research

All employees at Tiburon CEO Summit sponsors & Tiburon members have access to Tiburon's Written Research library of 1,900+ topics and profiles. To access Tiburon's Written Research, click the link below for your topic of interest, and enter your Tiburon username & password:

Topics

Profiles

If you are an employee at a Tiburon CEO Summit sponsor or Tiburon member and need your username & password to access Tiburon's Written Research, please email Lupita Uribe. If you are an employee at a firm that is not yet a Tiburon CEO Summit sponsor or Tiburon member and would like to become a client to obtain access to Tiburon Written Research, please email Sarah Sage.


Tiburon Market Seminars

Tiburon is able to deliver detailed presentations and/or actively participate in detailed conversations on a wide range of products and markets within the banking, insurance, brokerage, and investment management markets without significant lead time. This ability is based upon both the depth of its existing written industry knowledge (over 1,900 topics and 500,000 PowerPoint charts and graphs) and its broad CEO-level industry contacts. As a result, Tiburon Market Seminars have become ideal for clients which need a quick and yet thorough understanding of industry dynamics and leading players in growing markets. This is also an ideal low-cost method for new Tiburon clients to tap into the firm's years of industry experience and prior research efforts. If you are interested in scheduling a Tiburon Market Seminar, please email Sarah Sage