U.S. Broker/Dealer Marketplace 2020
The Increasing Impact of Culture
Grow Marketshare in the B/D channel
- Understand the competitive landscape that exists in the B/D marketplace
-
Identify opportunities and threats to marketshare, and benchmark growth and operating performance among B/Ds
-
Uncover insights into cross-channel advisor movement and understand why B/Ds are retaining or losing advisor headcount
-
Learn about the most compelling distribution opportunities for asset managers
-
Gain insight into top distributors’ strategic direction, needs, challenges, and opportunities
- Explore firm-specific insights to augment wholesaling strategies
$19,500
Buy Now

Jeremy Fodaski
Account Specialist
- Boston HQ +1 617.437.0084
- Singapore +65 6327 4045
- London +44 20 7645 9040
Summary
Explore the factors impacting the B/D marketplace and its sales channels. The analysis focuses on key trends in the marketplace and outlines the greatest opportunities and challenges that B/Ds face.
Included with Purchase
Methodology
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.
Executive Summary
Get the most important report findings distilled in an easy-to-understand and highly visual format before you begin your journey through the report or use it as a tool for senior leadership.
Interactive Report Dashboards
Access consolidated data from multiple report exhibits in a single comparative view. Flexibly build your view of data with customizable filters and share the results in a format that meets your requirements.
Analyst Support
Got a question? Our analysts are available to help you interpret and analyze key findings as well as provide their perspective on industry trends.
Data Behind This Report
Data is the foundation of our reports. Each study contains nearly 100 exhibits, available to buyers in Excel format. Extract and explore Cerulli’s data and analysis your way.
Digital Access
Access your reports digitally anytime, anywhere, on any device through our client portal.
A Note From the Author
The Greatest Threat to B/D Firms? Advisors

Michael Rose
Associate Director
Bio →

Michael Rose
Associate Director
As associate director of the Wealth Management practice, Michael is responsible for researching trends within the wealth management industry that impact broker/dealers. In this capacity, he regularly engages with key constituents that comprise the wealth management ecosystem, including investors, financial advisors, financial institutions, and technology providers, in order to measure key market characteristics and to advise financial institutions. Michael also collaborates with his Cerulli colleagues in support of the firm’s broader research into the wealth management industry.
Prior to joining Cerulli, Michael spent eight years working as a financial advisor, providing comprehensive wealth management services to high-net-worth individuals and families. Prior to his role as a financial advisor, Michael served as a research analyst for IDC, where he was responsible for researching trends within the technology industry and advising senior business executives on product strategy.
Full biography here.
Wirehouse advisors are 124% more productive than the average advisor, finds Cerulli. The channel experienced an 18.8% year-over-year increase in the productivity rate of its advisors, which grew from $147 million per advisor at year-end 2018 to $175 million per advisor at year-end 2019.
Yet, as the registered investment advisor (RIA) channel continues to mature and more third-party providers emerge to support RIAs in these areas, Cerulli expects the advantages for wirehouses will diminish over time. Therefore, to remain competitive, wirehouse firms should identify the motivating factors for advisor defections and shore up areas of limited advisor satisfaction.
Learn more in The Cerulli Report—U.S. Broker/Dealer Marketplace 2020: The Increasing Impact of Culture.
CONTACT US
Want More Information?
Learn more about this report and related Cerulli research.
Contact Us
You May Also be Interested in
- Annual report
- Cerulli Edge
- Cerulli Lodestar

STRATEGIC CONSULTING & CUSTOM RESEARCH
Cerulli Consulting
Understand where to allocate resources to achieve your objectives. We can help you determine which initiatives are likely to be successful and those that may not achieve the desired effect. In an increasingly competitive market, our objectivity and experience can help you to advance your firm’s unique strengths.