Recently Released!!!
Date Published: December 23, 2022
Summary PowerPoint Deck: 395 Slides
Reference PowerPoint Deck: 1,423 Slides

The purpose of this research is to provide readers with a comprehensive overview of the financial advisor channels, including full-service brokerage firms, independent advisors, and discount & online brokerage firms. This research serves to highlight the key findings of each of these underlying Tiburon research topics and draws cross-channel comparisons. Other Tiburon research topics address the institutional and international channels.

This research addresses the key historical phases of the financial advisor channels, including:

• Retail Banks Dominance Phase
• Full-Service Brokerage Firms Emergence Phase
• Discount Brokerage Firms Emergence Phase
• Independent Advisors Emergence Phase
• Financial Advisor Aggregators & Online Advice Firms (Robo Advisors) Emergence Phase

This research addresses numerous financial advisor channels, including:

• Full-Service Brokerage Firms
  • Wirehouses
  • Other National Brokerage Firms
  • Regional Brokerage Firms
  • Investment Banks
• Independent Advisors
  • Independent Reps (Traditional)
  • Dually Registered Financial Advisors
  • Fee-Only Financial Advisors (RIAs)
• Discount & Online Brokerage Firms
  • Discount Brokerage Firms
  • Online Brokerage Firms

And this research makes several future predictions for the financial advisor channels, including:

• Number of Financial Advisors to Stagnate But Assets Under Management & Administration to Grow Substantially
  
• Steady (But Small) Flow of Break-Away Brokers to Continue
• Increasingly Broad Set of Financial Advisor Business Model Choices to Emerge
• Discount & Online Brokerage Firms and Fee-Based Financial Advisors (RIAs) to Continue to Gain Market Share