January 5, 2018

Tiburon Research Call:
FA Technology & FA Turnkey Asset Management Programs (FA TAMPs)
January 11, 2018

Tiburon is pleased to announce that the next Tiburon Research Call will be on FA Technology & FA Turnkey Asset Management Programs (FA TAMPs) and will be held January 11, 2018 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 Tiburon Managing Partner Chip Roame. This is one of 42 Tiburon Research Calls set for this year. To see the full Tiburon Research Calls calendar, please click here.

If you are an employee at a Tiburon CEO Summit sponsor or Tiburon member and would like to listen to this call, please email Sarah Sage 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 Tiburon client to obtain access to Tiburon Research Calls, please email Sarah Sage.


Prior Tiburon Research Call:
International (Non-United States) Markets: January 2, 2018

Tiburon is pleased to provide Tiburon CEO Summit sponsor and Tiburon member employees that missed this week's Tiburon Research Call on International (Non-United States) Markets with access to the recording on the Tiburon web site by clicking the link below and logging in with one's 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 Sarah Sage. 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 Tiburon client to obtain access to Tiburon Research Calls, please email Sarah Sage.


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

Tiburon Managing Partner Chip Roame and Tiburon clients Scott Hanson (Co-CEO, Hanson McClain) & Craig Wietz (President, First Rate) will lead Tiburon Impact Adventure 2.0 to build houses in San Antonio Del Mar, Mexico on January 27-28, 2018. The group will partner with an organization that has been building homes for the homeless in Mexico for over twenty years, which believes that in two days, you can make a lifetime impact for a family.

Come join Chip and your peers for a quick weekend that will have a lifetime impact on you and the family for which you are providing a home. The deadline for registration is NOW. To hear a replay of an informational call held on November 27, 2017, or 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 Ben Cukier (Managing Partner, Centana Growth Partners), Scott Hanson (Co-CEO, Hanson McClain), & Aaron Klein (CEO, Riskalyze) 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. Tiburon Impact Adventure 1.0 raised over $100,000 for the construction of a fifth through eighth grade classroom building in the village of Adami Tulu, and the group hopes to complete fundraising & start construction in 2018. To learn about 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 wish to inquire about taking part in future Tiburon Impact Adventures, please email Scott Hanson (Co-CEO, Hanson McClain).


Tiburon CEO Summit XXXIV: April 9-11, 2018
Over 40 CEO-Level Speakers

Tiburon and its Managing Partner Chip Roame are pleased to announce Tiburon CEO Summit XXXIV, which will be held on April 9-11, 2018 at the Ritz Carlton Hotel (Battery Park) in New York, NY. The event is expected to fill quickly, so we encourage early registration.

Tiburon's CEO Summits provide a unique opportunity for a select cross-industry group of senior executives to discuss a broad swath of issues regarding the future of the banking, insurance, brokerage, & investment management businesses. Tiburon's CEO Summits likely provide one of the only true forums where financial services industry CEOs from across traditional industry silos gather to discuss business opportunities. The list of business relationships resulting from prior Tiburon CEO Summits is impressive. Tiburon CEO Summit XXXIV will include Tiburon Managing Partner Chip Roameís two keynote presentations, over 40 CEO-level speakers, & more than 250 C-level executive attendees.

Tiburon CEO Summit XXXIV will include over 40 CEO-level speakers. Recently announced speakers include:

  • Mark Casady (Former CEO, LPL Financial Holdings)
  • Bill McNabb (Chairman, The Vanguard Group)
  • Luis Aguilar (Former Commissioner, Securities & Exchange Commission (SEC))
  • Jud Bergman (CEO, Envestnet)
  • Bill Capuzzi (CEO, Apex Clearing Corporation)
  • Bart Chilton (Former Chairman, Commodity Futures Trading Commission (CFTC))
  • Peter deSilva (President, TD Ameritrade Retail Distribution)
  • Bob Doll (Chief Equity Strategist, Nuveen Asset Management)
  • Greg Friedman (CEO, Private Ocean)
  • Dan Fuss (Vice Chairman, Loomis, Sayles, & Company)
  • Jason Hsu (Chairman, Rayliant Global Advisors)
  • Michael Jantzi (CEO, Sustainalytics)
  • Anders Jones (CEO, Facet Wealth)
  • Kevin Keller (CEO, Certified Financial Planner Board of Standards)
  • Joe Keefe (CEO, Pax World Funds)
  • Jon Korngold (Managing Director, General Atlantic)
  • Sallie Krawcheck (Co-Founder, Ellevate Network)
  • Hans Morris (Managing Partners, Nyca Partners)
  • Josh Pace (CEO, Trust Company of America)
  • Charles Plosser (Former President, Federal Reserve Bank of Philadelphia)
  • Karl Roessner (CEO, E*Trade Financial Corporation)
  • Ken Schapiro (President, Backend Benchmarking)
  • Paul Stevens (CEO, Investment Company Institute (ICI))
  • John Streur (CEO, Calvert Investments)
  • George Walker (CEO, Neuberger Berman Management)
  • Elliot Weissbluth (CEO, HighTower)
  • Kyle Zasky (Partner, SenaHill Partners)

If you are a CEO, other C-level executive, executive vice president, or partner at a Tiburon CEO Summit sponsor or Tiburon member and would like to participate in Tiburon CEO Summit XXXIV, please email Tiburon's Managing Partner Chip Roame. If you are a CEO, other C-level executive, executive vice president, or partner at a firm that is not yet a Tiburon CEO Summit sponsor or Tiburon member and interested in becoming a Tiburon client to attend Tiburon CEO Summit XXXIV, please email Sarah Sage.


Skip & Chip's Excellent Adventure 7.0:
South Central Alaska, August 4-8, 2018

Tiburon Managing Partner Chip Roame and Tiburon client Skip Schweiss (President, TD Ameritrade Trust Company) will co-lead the annual Skip & Chipís Excellent Adventure on August 4-8, 2018 to South Central Alaska. The group will hike the Crow Pass Trail, mountain bike in Alyeska, & kayak in Seward, Alaska. For more information, please email Skip Schweiss (President, TD Ameritrade Trust Company).

Skip & Chip's Execellent Adventure 6.0 was co-led by Tiburon Managing Partner Chip Roame and Tiburon client Skip Schweiss (President, TD Ameritrade Trust Company) on July 9-13, 2017 in Kauai. While on Skip & Chip's Excellent Adventure 6.0, the group hiked the Kalalau Trail in-and-out for a total of 22 miles & kayaked the seventeen miles along the Napali Coast. To view the Skip & Chip's Excellent Adventure 6.0 photo gallery, please click here. To read Skip Schweiss's article reviewing Skip & Chip's Excellent Adventure 6.0 at RIA Biz, please click here. To learn about the results of Skip & Chip's Excellent Adventure 6.0, please email Alex Potts (CEO, Loring Ward Group).

Skip & Chip's Excellent Adventure 7.0 will be the seventh in the series of adventures, in which participants have reached the tops of Mount Whitney & Mount Shasta, traversed the Grand Canyon, summited Half Dome in Yosemite, and completed both the Kalalau Trail in Kauai & the Four Pass Loop outside of Aspen, CO. The annual outing combines a challenging outdoor adventure with a fun weekend together. If you are interested in the Skip & Chip's Excellent Adventures generally, would like to propose a future Excellent Adventure, and/or would like to inquire about taking part in a future Excellent Adventure, please email Skip Schweiss (President, TD Ameritrade Trust Company).


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 a comprehensive 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 including financial advisors nudged out by their former employers due to low productivity (broken away brokers), other sources confusing data for financial advisor teams, financial advisors, & registered assistants, 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 three historical phases of the break-away brokers trend, including emergence phase; mis-reporting phase; & accuracy phase phase.

This research addresses the reported movement size.This research then analyzes the reasons behind the movement and 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 finally this research makes several predictions for Break-Away Brokers, including continuing moderate size trend of financial advisor teams & financial advisors changing firms; continuing relatively small trends of successful financial advisor teams & financial advisors changing firms; insurance companies & independent broker/dealers to rival wirehouses as leading sources 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 Sarah Sage. 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 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, $579.4 million adjusted revenues, $99.4 million adjusted EBITDA, & $43.6 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 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, adjusted operating margin, non-operating income, EBITDA, adjusted EBITDA, & adjusted net profit.

Its 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 Written Research, please email Sarah Sage. 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 Tiburon client to obtain access to Tiburon Written Research, please email Sarah Sage.


Recent Tiburon Research Calls

Tiburon is pleased to provide all employees at Tiburon CEO Summit sponsors & Tiburon members with access to Tiburon Research Calls led weekly by Tiburon Managing Partner Chip Roame. To listen to recent Tiburon Research 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 Sarah Sage. 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 Tiburon client to obtain access to Tiburon Research Calls, please email Sarah Sage.


Recently Posted Tiburon Written Research

Tiburon is pleased to provide all employees at Tiburon CEO Summit sponsors & Tiburon members with access to Tiburon's Written Research library of 1,900+ topics and profiles. To access Tiburon 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 Written Research, please email Sarah Sage. 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 Tiburon 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.


Tiburon Job Openings

Tiburon Strategic Advisors
Tiburon Strategic Advisors: Tiburon Strategic Advisors (ďTiburonĒ) was founded in 1998 by a McKinsey & Company alumnae. The firm historically functioned as a boutique strategic consulting firm serving the worldwide financial services & fintech industries. Based on its two decades of substantial success, widely published industry views, and very broad set of industry contacts, Tiburon has evolved to be a multi-faceted business, with its core services including Tiburon Membership & Tiburon CEO Summits sponsorship (Tiburon Written Research, Tiburon Research Calls, Tiburon CEO Summits), conference speeches & market seminars, due diligence & other CEO-level advisory roles, and ongoing board roles. Tiburon also generates substantial revenues from its own proprietary investments in financial services and fintech firms. The firm has published 1,900+ Tiburon Written Research papers, hosts 42 weekly Tiburon Research Calls for its 100+ corporate clients, hosts semi-annual Tiburon CEO Summits in New York, NY & San Francisco, CA for 250-300 of its CEO-level clients, and invests in (and serves on boards of) numerous leading financial services and fintech companies around the world.

Tiburon is structured as a leading-edge lifestyle business, maintaining an extremely professional culture focused on CEO-level clients, high service standards, a 100% expected client retention rate, and substantial sales & revenues goals, all balanced with a focus on personal lives. The firmís managing partner values and closely measures efforts and results, with key results measures including the numbers of clients, readers, listeners, attendees, & revenues. The most successful candidate will have substantial experience in professional services firm environments, experience working with CEO-level clients and fixed deadlines, and a revenue-orientation. At the same time, the firm has recently invested substantially to refurbish its physical office environment at Point Tiburon Plaza near the ferry dock & water fountain in downtown Tiburon. And the firm is willing to consider unusual (albeit permanent) working models for parents with school age kids and other similar situations. The firmís office location, office dťcor, well-appointed kitchen, casual dress, and kid school oriented core operating hours are all part of a lifestyle choice by the firmís managing partner. Tiburon presents a unique career opportunity for mature and talented professionals in the Tiburon, CA area.

Tiburon seeks to hire locally. The firm held its first successful summer interns program this past summer, with three local summer interns. The firm has now hired three additional local part-time college & high school students to handle office tasks and supplement its client communications efforts. Tiburonís next objectives are to add critical operations and service, sales, & marketing managers.

Tiburon Operations Manager Role
Tiburonís operations manager will have responsibility for a broad set of activities:

  • Research & Production: Core research & production responsibilities will include hiring, training, and managing one or two research & production analysts, and managing the firmís library of 1,900 topics. The operations manager will also be expected to help with document production in the cases of employee absences and/or heavy demand
  • Service, Sales, & Marketing: Core service & sales responsibilities will include managing the companyís inbound & outbound service & sales efforts. Specifically, the firm receives annual fees from ~100 corporate clients and has served ~450 corporate clients over the past twenty years. And the firm receives inbound leads from prospective clients daily. Success here will be measured by retaining all corporate clients, bringing back prior year corporate clients, and adding hundreds of new corporate clients. Core marketing responsibilities will include managing the firmís substantial online presence through its weekly research releases, web site updates (and desperately needed redevelopment), and social media efforts, as well as media relations, its awards strategy, and advertising. Specifically, the firm has a Salesforce database with over 500,000 industry contacts that have contacted Tiburon over the past twenty years, over 100,000 of which receive the firmís weekly Tiburon Research Releases sent through Savicom. Success here will be measured by overall brand awareness and increasing inbound leads
  • Operations & Administration: Core operations & administration responsibilities will include payroll, benefits, office technology, vendor management, and related activities working with the managing partner

    Tiburonís operations manager will also assume management responsibilities. Specifically, the firm intends to hire one or two research & production analysts (to replace a departing employee). And this manager would also assume responsibility for managing portions of both the summer intern program and the three part-time assistants employed now.

    Tiburon Operations Manager Compensation
    Tiburon believes in compensating based on efforts and results. One way of ensuring fairness to employees is paying per hour and paying additional amounts for overtime. This role is projected to pay $45-$60 per hour, or approximately $94,000-$125,000 plus additional amounts for overtime hours. Tiburon also offers heath care insurance including medical & vision, personal time off (PTO), birthday & work anniversary holidays, paid charitable opportunities, team lunches, parking, and similar benefits. High performers in all areas will be able to interact with Tiburon's CEO-level clients at its semi-annual Tiburon CEO Summits (the next of which is April in New York, NY at the Ritz Carlton Hotel).

    Tiburon Service, Sales, & Marketing Manager Role
    Tiburonís service, sales, & marketing manager will have responsibility for both services & sales and for marketing:

  • Service & Sales: Core responsibilities will include managing the companyís inbound & outbound service & sales efforts. Specifically, the firm receives annual fees from ~100 corporate clients and has served ~450 corporate clients over the past twenty years. And the firm receives inbound leads from prospective clients daily. Success here will be measured by retaining all corporate clients, bringing back prior year corporate clients, and adding hundreds of new corporate clients
  • Marketing: Core responsibilities will include managing the firmís substantial online presence through its weekly research releases, web site updates (and desperately needed redevelopment), and social media efforts, as well as media relations, its awards strategy, and advertising. Specifically, the firm has a Salesforce database with over 500,000 industry contacts that have contacted Tiburon over the past twenty years, over 100,000 of which receive the firmís weekly Tiburon Research Releases sent through Savicom. Success here will be measured by overall brand awareness and increasing inbound leads.

    Tiburonís service, sales, & marketing manager will also assume management responsibilities. Specifically, the firm intends to hire a digital marketing analyst who would report to this manager. And this manager would also assume responsibility for managing both the summer intern program and the three part-time assistants employed now. Furthermore, the real opportunity here is to build a broad profitable service, sales, & marketing function.

    Tiburon Service, Sales, and Marketing Manager Compensation
    Tiburon believes in compensating based on efforts and results. One way of ensuring fairness to employees is paying per hour and paying additional amounts for overtime. This role is projected to pay $45-$60 per hour, or approximately $94,000-$125,000 plus additional amounts for overtime hours. Tiburon also offers heath care insurance, personal time off (PTO), birthday & work anniversary holidays, paid charitable opportunities, team lunches, parking, and similar benefits. High performers in all areas will be able to interact with Tiburon's CEO-level clients at its semi-annual Tiburon CEO Summits (the next of which is April in New York, NY at the Ritz Carlton Hotel).

    Other Tiburon Job Openings
    Tiburon has two other entry level openings (each projected to pay $25-$35 per hour (or approximately $52,000-$73,000) plus overtime):

  • Research & Production Analyst: Core responsibilities are to deliver three PowerPoint assignments per day. PowerPoint completion includes making noted additions & enhancements, completing research & printing assignments, publishing all document parts to the Tiburon web site, confirming that all partsí links work, delivering a complete printed package to the managing partner, and sending the executive summary to the managing partner. More experienced members of the team should be able to complete three or more PowerPoint assignments per day and also add more value in research.
  • Digital Marketing Analyst: Core responsibilities will include managing the firmís substantial online presence through its weekly research releases, web site updates, and social media efforts. Success here will be measured by overall brand awareness and increasing lead flow. Role will report to service, sales, & marketing manager
  • Tiburon is also continuing to seek to add entry-level part-time assistants for administrative work. College & high school students are welcome to apply. Some previous professional services firm office experience would be helpful (e.g., tasks may often be repetitive such as emailing, filing, or data entry for a few hours at a time). Energy, attention to detail, and yet reasonable expectations will be keys to success. Starting pay is $13 per hour and potentially up to $15 per hour for those who are most productive.

    Contacting Tiburon
    Interested candidates should send their resume and a short cover letter addressing their position of interest as well as how their skills would meet Tiburonís needs to Careers@TiburonAdvisors.Com.


    Tiburon Media Coverage

    Tiburon was quoted recently in Insurance News Net's article titled Fee-Based Compensation Models Push Deeper Into The Industry The article cites Tiburon Research as a key component for their conclusion that that fee-based compensation models are pushing deeper into the industry. The article summarizes the recent Tiburon Research Call on managed account programs.

    Tiburon executives have been quoted quite extensively throughout the industry and general media. A list and brief synopsis of those articles that the Tiburon staff has been able to locate (Tiburon accepts that there are probably hundreds of other quotes circulating) can be found at the link below. These short summaries are intended to help prospective Tiburon clients, conference planners, and media representatives understand Tiburon's views on a wide variety of issues throughout the financial services industry. If you are a media representative interested in covering Tiburon, please email Sarah Sage.