Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Asset Managers, Turn to the Independents Not Rated 4.0 Email Routing List Email & Route  Print Print
Wednesday, September 23, 2009

Asset Managers, Turn to the Independents

Reported by Adam Kommel

Advisors are leaving wirehouses and heading for regional and independent brokerages, Cerulli Associates said in its Intermediary Markets 2009 quantitative update report. The consultants conclude that asset managers should thus give more time to distributing through independent channels, citing "the importance of the independent model in shaping the future of retail advice and the need for asset managers to adapt to the changes in the distribution landscape."

Based on current trends, the Boston-based financial services consulting firm forecast that in 2012 49.5 percent of advisors will work independently rather than as employee advisors, whereas only 42.6 percent did so in 2008. Cerulli defines independent channels as "IBD, RIA and dually registered."

Cerullli specified that high-end producers who leave wirehouses tend to move to regional firms, while mid- and lower-end producers have gone to independent broker-dealers.

Cerulli also estimated headcount changes among different asset management distribution roles, expecting significant increases in the ranks of internal wholesalers, key account managers and hybrid/e-wholesalers. The consultants said these hirings are a result of re-staffing after layoffs as well as a renewed focus on costs—internal and hybrid wholesalers cost less than external wholesalers.

See the report infopack here [pdf]

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

4.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use