Independent Rep Benchmarking:
A Comprehensive Overview of their Product Usage, Business Models, & Best Practices

Recently Released!!!
Date Published: March 13, 2020
Summary PowerPoint Deck: 35 Slides
Reference PowerPoint Deck: 633 Slides

The purpose of this research is to provide readers with an understanding of the specific business practices of independent reps, 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, Raymond James, Royal Alliance, Cetera Financial Group, Securities America, & Commonwealth Financial Network. Information on this market has been scarce and vendors continue to struggle with how to offer value-added services. What products & services do independent reps use? What broker/dealers and technology do they use? How do they market to their clients? What are their profit margins? This research provides an in-depth look at how independent reps manage their businesses and identifies key opportunities for vendors seeking to serve this market. A parallel research topic published by Tiburon addresses this market in a top down way, outlining the size of the independent rep market. This research goes a step further and specifically utilizes detailed survey data from Tiburonís 35 question independent rep benchmarking survey at www.IndependentRepBestPractices.Com to identify the product usage, business models, & best practices of leading independent reps.

This research addresses six areas of independent rep business practices, including:
  • Business Background & Industry Position
  • Clients & Marketing Strategies
  • Investment & Insurance Products Used
  • Back Office Processes & Technology Use
  • Business Economics
  • Business Policies & Industry Views

This research supports five best practices for independent reps, including:

  • Determine Clear Target Markets
  • Choose Product & Service Offers to Support Chosen Target Markets
  • Develop Appropriate Marketing Methodologies
  • Build the Necessary Support Infrastructure
  • Define Business Goals & Develop Written Plans

And this research concludes with vendor feedback & tips for better serving independent reps:

  • Independent Broker/Dealer Satisfaction Ratings
  • Mutual Fund Company Satisfaction Ratings
  • Other Vendor Satisfaction Ratings
  • Strategic Value Added Opportunities


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