|Written Industry Knowledge
At Tiburon, clients will not be subject to Tiburon principals & research managers learning on the client's time; instead, Tiburon principals & research managers quickly move to tackling the research assignments necessary to help develop custom strategies based on the client's capabilities, their competitors' strategies, and their clients' needs.
State of the Industry: Industry Views
Historically, the areas of banking and insurance dominated the financial services industry. However, growing consumer wealth, the decline of defined benefit plans, and the growth of 401K plans, mutual funds, and online investing led to rapidly expanding consumer-oriented brokerage and investment management markets in the 1990s. At the same time, the brokerage and investment management markets were evolving rapidly; a landscape once dominated by stocks and bonds at full-service brokerage firms was giving way to way to a financial planning and mutual funds-oriented environment led by discount brokers, independent reps, and fee-based financial advisors.
However, the market slow down of 2000-2003 called many of these trends into question and has led financial services executives to question their strategies. Will consumers continue to take ownership of their financial affairs or will they drift back towards using financial advisors? Will consumers even stay in the market or will some head for the exits and stash their money back in banks and real estate? Will defined contribution plans roar ahead or will the trend reverse itself and lead to growth in defined benefit plans? How will technology fit in; is it a channel unto itself or an enabler of other channels? And how about new entrants; will CPA firms, insurance companies, or some other channel become the next big group of financial advisors? The fundamental question for all financial services executives is which of these trends are sustaining and how can one's firm participate in these new markets?
Tiburon believes that for a progressive financial institution, possibly the four most profound changes have been:
Tiburon views the brokerage and investments markets as being comprised of financial and non-financial product companies, or those which manufacture products; distribution companies, or those firms which primarily distribute products and serve clients through various types of financial advisors; and finally the financial advisors themselves who serve the consumers. Two additional segments include the institutional channels and the international markets.
Across all segments of the brokerage & investment management markets, there are three concepts that are critical in this time of rapid industry evolution:
All of these changes create great opportunities in the marketplace. Research is required to separate the real opportunities from the apparent changes. However, the financial services industry has traditionally been weak at research; the industry has grown up pushing products to its customers, instead of assessing their needs. Very few financial services companies conduct substantial amounts of consumer or competitor research. Tiburon believes that research is the key foundation upon which smart strategy is built; the firm has extensive experience in doing this research.
Tiburon's written industry knowledge is complimented by its Consulting Skills, Research Capabilities, and Industry Experience which allow it to provide a unique offering of strategy consulting, market research, and other related services to financial institutions and investment managers.