U.S. Advisor Metrics 2022
Trends in Advisor Compensation
Strengthen and Scale Advisor Relationships
- Understand advisor compensation trends and the impact of compensation on firm growth
- Review the evolution of advisor compensation models across channels, including the use of alternative pricing and pay structures
- Review the changing role of the branch manager in shaping post-pandemic firm culture through advisor development, recruiting, and branch operations
- Analyze dashboards designed to provide a comprehensive overview of advisor demographics, staffing, growth, and fees
- Evaluate 10-year historical market sizing trends and projections for the U.S. financial advisor marketplace across channels
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This report provides a broad and deep perspective on financial advisors, highlighting their most critical needs, risks, opportunities, and challenges. With a holistic perspective, the data and analysis cover financial advisors operating across all channels, including wirehouses, national/regional broker/dealers (B/Ds), independent B/Ds, hybrid registered investment advisors (RIAs), independent RIAs, insurance B/Ds, and retail bank B/Ds.
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Each report is lead authored by a senior Cerulli analyst with significant industry experience. The report incorporates qualitative and quantitative inputs, based on Cerulli’s proprietary research process. For more on our research process, click here.
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A Note From the Author
Is it Time for Wirehouses to Rethink Advisor Compensation Plans?
Marina specializes in retail financial advisor trends across affiliation models. She is a member of the Intermediary practice, where she leads research for two annual reports. She also contributes to The Cerulli Edge series and generates quantitative analysis to support strategic consulting engagements.
Prior to joining Cerulli Associates, Marina was at Baystate Financial. In her role, she managed the pre-sales process for a financial planning practice, facilitated case design, and helped implement individualized client strategies.
Full biography here.
While advisors are generally satisfied with their compensation plans, new research from Cerulli finds there is room for improvement, particularly among wirehouses and large broker/dealers (B/Ds).
Advisors in the wirehouse channel are significantly more likely to be displeased with their compensation structures (24%), compared to advisors at national/regional (5%) and independent B/Ds (7%). More than half (62%) of wirehouse advisors believe that their compensation plans have become too complex and 47% agree that their firm alters their compensation structure too frequently.
Compensation packages are an influential component of advisor satisfaction, motivation, and commitment to their current firms. Wealth management firm leaders must find a way to achieve corporate initiatives, such as increasing productivity and client walletshare, without sacrificing opportunities for advisors to thrive.
Use our latest research to inform your compensation approach and access detailed analyses of advisor market sizing, client relationships, B/D support, investment product use, practice challenges, and growth opportunities.
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