Tiburon Research Calls & Tiburon Written Research

Tiburon research represents the firm's underlying research (coverage of over 2,400 topics with over 2.0 million unique PowerPoint charts) which it has historically conducted on its own budget to support its investing and advisory businesses. Since the early 2000s, Tiburon has made this underlying research available to Tiburon members, originally through subscriptions to its Tiburon Research Access Program and now as part of Tiburon Membership. Tiburon's goal is to help educate its clients in a low-cost way on a wide variety of topics in the banking, insurance, brokerage, & investment management markets. Tiburon's research covers product areas, distribution channels, tactical issues, & strategic issues. Tiburon also publishes profiles of financial services firms. Tiburon offers unlimited access to all of its research for all of a firm's employees for an entire calendar year for only $25,000. This service has helped hundreds of Tiburon clients to consolidate their research needs & budgets. Tiburon also offers annual subscriptions to individual topics for $5,000.

Each Tiburon research topic or company profile provides access to a useful set of key findings (think factoids), a summary podcast describing research findings, a well-organized 50-100 page summary PowerPoint slides presentation (useful for internal presentations), access to Tiburon's reference PowerPoint slides (useful for further analysis), & access to Tiburon's underlying excel data sheets (useful for data analysis).

Tiburon's research strategy is to ultimately write and continuously refine research offerings covering every substantial financial services industry business and prominent firm so that the research can then serve as a comprehensive library of financial services data, analysis, & opinions for Tiburon clients. Tiburon attempts to publish research on at least twenty additional topics and/or companies each week. Many are simply updates but all lead the firm closer to its goal of comprehensive financial services industry research.

Tiburon PowerPoint slides all follow an easy-to-digest format while providing detailed facts, analysis, & future predictions. Tiburon attempts to position its research as reference documents, and not as short-term newsworthy editorials. Tiburon aims (over time) to make all of its research comprehensive.

The majority of Tiburon's research is designed for executives at financial institutions; some research is more narrowly designed specifically for financial advisors. Tiburon's financial institutions topical series contains macro-industry topics such as the mutual funds industry, the hedge funds industry, the full-service brokerage firms industry, and the fee-based financial advisors industry. Tiburon's financial institutions profiles series includes relatively thorough profiles of leading-edge financial services firms such as Bank of America Corporation, FMR (Fidelity Investments), & The Charles Schwab Corporation. Tiburon's financial advisors topical series includes more tactical topics such as Fee-Based Financial Advisor (RIA) Benchmarking and Financial Advisor Mergers & Acquisitions. And Tiburon's financial advisor profiles series includes profiles of leading financial advisors such as Edelman Financial Engines, Fisher Investments, & Mercer Advisors.

Tiburon manages its research agenda with a free market perspective. Research topics with frequent subscriptions, high numbers of views, & client requests will be prioritized over those not being as widely utilized. Please share your ideas with anyone at Tiburon.

If you are interested in becoming a Tiburon member or subscribing to any of Tiburon's research, please click here to Subscribe to Tiburon Research online. To receive notification of Tiburon's latest research, please Sign Up to Receive Tiburon Research Releases. And for those clients needing more customization and two-way discussions, please see Tiburon's Market Seminars service and feel free to design a custom market seminar to suit your needs.

Tiburon Research Calls

Tiburon members are also offered access to Tiburon Research Calls which offer the unique opportunity to hear the insights of Tiburon Managing Partner Chip Roame on leading edge topics. Tiburon Research Calls are generally scheduled on Thursdays at 10:00am PT & 1:00pm ET. Please join us. Future Tiburon Research Calls will be as follows:

First Half 2019 Second Half 2019
  • 5/30/19: Wine Industry Overview
  • 6/6/19: Online Brokerage & Advice
  • 6/13/19: Break-Away Brokers & Independent Advisors
  • 6/20/19: Captive Financial Advisor Channels
  • 6/27/19: Financial Advisor Channels
  • 7/2/19 (Tuesday): International (Non-United States) Markets
  • 7/11/19: FA Technology & FA Turnkey Asset Management Programs (FA TAMPs)
  • 7/18/19: FA Succession Planning, Acquisitions, & the Sale Process
  • 7/25/19: Financial Services Industry Mergers & Acquisitions
  • 8/1/19: Financial Services Industry Investment Opportunities
  • 8/15/19: Elections, Legislation, & Regulations
  • 8/29/19: Consumer Wealth & Baby Boomers
  • 9/12/19: The Future of the Advisory Business
  • 9/26/19: The Future of Wealth Management
  • 10/10/19: Tiburon CEO Summit XXXVII Keynote Presentation
  • 10/17/19: Open-End Mutual Funds
  • 10/24/19: Index Investing & Exchange Traded Funds (ETFs)
  • 10/31/19: Managed Account Programs
  • 11/7/19: Alternative Investments
  • 11/14/19: Insurance Products
  • 11/21/19: Wealth Management Services
  • 11/26/19 (Tuesday): Wine Industry Overview
  • 12/5/19: Online Brokerage & Advice
  • 12/12/19: Break-Away Brokers & Independent Advisors
  • 12/19/19: Captive Financial Advisor Channels
  • 12/23/19 (Monday): Financial Advisor Channels
First Half 2020 Second Half 2020
  • 1/2/20: International (Non-United States) Markets
  • 1/9/20: FA Technology & FA Turnkey Asset Management Programs (FA TAMPs)
  • 1/16/20: FA Succession Planning, Acquisitions, & the Sale Process
  • 1/23/20: Financial Services Industry Mergers & Acquisitions
  • 1/30/20: Financial Services Industry Investment Opportunities
  • 2/13/20: Elections, Legislation, & Regulations
  • 2/27/20: Consumer Wealth & Baby Boomers
  • 3/12/20: The Future of the Advisory Business
  • 3/26/20: The Future of Wealth Management
  • 4/9/20: Tiburon CEO Summit XXXVIII Keynote Presentation
  • 4/16/20: Open-End Mutual Funds
  • 4/23/20: Index Investing & Exchange Traded Funds (ETFs)
  • 4/30/20: Managed Account Programs
  • 5/7/20: Alternative Investments
  • 5/14/20: Insurance Products
  • 5/21/20: Wealth Management Services
  • 5/28/20: Wine Industry Overview
  • 6/4/20: Online Brokerage & Advice
  • 6/11/20: Break-Away Brokers & Independent Advisors
  • 6/18/20: Captive Financial Advisor Channels
  • 6/25/20: Financial Advisor Channels
  • 7/2/20: International (Non-United States) Markets
  • 7/9/20: FA Technology & FA Turnkey Asset Management Programs (FA TAMPs)
  • 7/16/20: FA Succession Planning, Acquisitions, & the Sale Process
  • 7/23/20: Financial Services Industry Mergers & Acquisitions
  • 8/6/20: Financial Services Industry Investment Opportunities
  • 8/20/20: Elections, Legislation, & Regulations
  • 9/3/20: Consumer Wealth & Baby Boomers
  • 9/17/20: The Future of the Advisory Business
  • 10/1/20: The Future of Wealth Management
  • 10/15/20: Tiburon CEO Summit XXXVIX Keynote Presentation
  • 10/22/20: Open-End Mutual Funds
  • 10/29/20: Index Investing & Exchange Traded Funds (ETFs)
  • 11/5/20: Managed Account Programs
  • 11/12/20: Alternative Investments
  • 11/19/20: Insurance Products
  • 11/24/20 (Tuesday): Wealth Management Services
  • 12/3/20: Wine Industry Overview
  • 12/10/20: Online Brokerage & Advice
  • 12/17/20: Break-Away Brokers & Independent Advisors
  • 12/22/20 (Tuesday): Captive Financial Advisor Channels
  • 12/29/20 (Tuesday): Financial Advisor Channels

RSVP for the Upcoming Tiburon Research Call

Tiburon Written Research

The executive summaries and tables of contents for all Tiburon research topics are available to review on subsequent web pages at the links below.

Tiburon Research Topics

Tiburon's research currently includes over 2,400 topics. Tiburon intends to soon provide the ability to search through Tiburon research for topics of interest such as break-away brokers, managed account programs, robo advisors, TAMPs, mergers & acquisitions trends, or nearly any other industry phrase. This is intended to make the growing library more useful to all. Tiburon also intends to soon provide a graphical representation of the interrelatedness of its research. In the interim, a comprehensive list of available topics is included at the links below. Tiburon research is organized into twelve series:

Tiburon Research Process

Tiburon research subscribers should find Tiburon research topics to be unbiased in their content. Tiburon's research series is based upon publicly available information; many research topics will have dozens or even hundreds of sources. Subscribers will see that Tiburon PowerPoint presentation pages are all individually sourced, most are sourced multiple times. Tiburon believes that all data is accurate, although some data may become dated while still posted.

Tiburon research topics each go through an evolutionary process, with initial shell drafts being posted and subsequent drafts incorporating additional information, with demand driving the frequency of such revisions. Mature Tiburon research topics will be comprehensive in their content. Comprehensive Tiburon research topics will have been developed though more than a half-dozen research steps:

  • Source & review all public financial statements (e.g., 10K reports, 10Q reports, 8K reports, Reg D filings, etc.)
  • Source & review all governmental filings (e.g., FDIC, SEC, FINRA, PCAOB, DoL, state insurance commissioners, etc.)
  • Source & review recent company press releases and industry media coverage
  • Analyze & incorporate proprietary learnings from Tiburon's benchmarking tools
  • Conduct detailed web site reviews and news searches for relevant data to round out views
  • Source & review relevant research & stock analyst reports to test, validate, & refine emerging themes
  • Interview industry participants to confirm or revise conclusions

Tiburon is an independent research firm and does not seek approval from any entity prior to publishing its research. Further, Tiburon generally does not seek comments from companies which it profiles because it has repetitively learned that those comments are often exaggerated and challenge the spirit of unbiased research. Tiburon is pleased to receive subscribers' suggestions on its research and will review such in subsequent rounds of revisions.

Tiburon research is provided for informational purposes only and not as investment advice. Tiburon is not related to most entities which it researches. Tiburon is also not related to, or endorsed by, most of the sources which it utilizes in its research.

Tiburon 2019-2020 Planned Research Efforts

Tiburon's 2019-2020 planned research efforts are as follows:

  • Expand the Family of Research Topics: Tiburon's objective is to address every substantial financial services industry topic and company. The firm hopes to reach its target of 5,000 topics & companies by 2020.
  • Refine the Content within Current Research: Some of Tiburon's research topics are in initial draft form. Other topics are lumpy, with some detailed sections and others not so. Tiburon recognizes this and published these initial drafts for clients who can benefit from such. Tiburon will seek to unify the quality of the content across all of its research topics in 2019-2020.
  • Develop Tiburon Research Search Capabilities: Prospective research buyers will soon have the ability to search through Tiburon research looking for topics of interest such as break-away brokers, managed accounts, robo advisors, TAMPs, mergers & acquisitions trends, or nearly any other industry phrase. This is intended to make the growing library more useful to all.
  • Report on Tiburon Research Library Utilization: Tiburon began providing Tiburon Research Access Program subscribers with unique passwords starting in 2011. This higher level of security allows Tiburon to track and report back on clients' employees' usage.

Tiburon Personal Consultations Policy

Tiburon is unable to address follow-up questions as part of the price of subscribing to Tiburon research. Tiburon necessarily had to create this policy to maintain fairness to its investment & advisory clients as well as the subscribers of incremental research under development. Simply said, because Tiburon offers access to its research at just $25,000, the firm is unable to keep its staff dedicated to individual topics. Hence, at the point in which research subscribers may have questions, the Tiburon team member is likely conducting research on a different topic. Repeatedly pulling Tiburon team members off investing &/or advisory assignments and/or current research under development to look back at other research would be both cumbersome and unfair to the clients and/or subscribers of the new research, and Tiburon would necessarily need to increase the cost of its research.

In response to numerous requests to engage in discussion & debate regarding various topics and companies, Tiburon has developed a market seminar service whereby a Tiburon partner knowledgeable about any Tiburon research will present such research, answer questions, and brainstorm the implications of such in a half day visit with a client's executives. The price of a market seminar is $35,000 plus travel expenses. Tiburon will happily net the cost of the underlying research if such is purchased before a market seminar. Hence a market seminar is intended to be the best Tiburon service for clients seeking both written research and the opportunity to address questions to Tiburon executives. Please contact Sarah Sage at SSage@TiburonAdvisors.Com or 415-789-2540 to schedule a market seminar.

Tiburon Research Refund Policy

Periodically (far less than 1% of the time after thousands of subscriptions), Tiburon research subscribers have sought refunds, which has caused hardship and wasted time for Tiburon, hence the following policy now exists for all Tiburon research subscribers. Tiburon is unable to make any financial refunds for research. Both fulfilling orders and processing refunds take up Tiburon time, and given that the research is written as a low cost accommodation service, Tiburon needs to manage its time well, prioritizing investing & advisory clients. Furthermore, given that research is delivered electronically, returns are impractical. If it helps, Tiburon will attempt to offer access to replacement research (either the next year of the same research or other research topic) as long as invoices are paid promptly under the terms of the original order (net 30 days). That said, please observe three suggestions before subscribing to any Tiburon research:

  • First, be sure to read the executive summaries and table of contents for the research of interest. These are created by Tiburon team members to best represent the research to potential subscribers. Sending specific pages is time consuming and unreasonable but the detailed table of contents show relatively clearly the topics covered.
  • Second, please ensure that no other executive at your firm has subscribed to the same research; Tiburon is willing to allow the internal sharing of its research by subscribers, but subscribers need to take responsibility to confirm any prior subscriptions within their firms because the growing complexity of financial services firms makes it impractical for Tiburon to track any firm's subsidiaries and their respective subscriptions.
  • Finally, please remember that the totality of the research is the offering. If there is a weak chapter or a missing podcast or excel data sheet, please bring it to the firm's attention to resolve over time, but please do not seek a refund on a research subscription that you have received.