Report

U.S. Broker/Dealer Marketplace 2021

The Pursuit of Scale

Benchmark and Grow Marketshare in the B/D channel

  • Identify developments in advisor affiliation preferences and migration patterns
  • Understand B/D merger and acquisitions and industry consolidation and their implications for the competitive landscape
  • Review the evolution of the regulatory environment and the implications for B/Ds and their financial advisors
  • Learn about the most compelling distribution opportunities for asset managers
  • Explore firm-specific insights to augment wholesaling strategies

$19,500

US Broker Dealer Marketplace 2020 Details

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Jeremy Fodaski

Jeremy Fodaski

Account Manager

Summary

This report provides B/Ds and custodians a method to benchmark against their competitors and insights into how they are reacting to key opportunities. The report also helps asset managers and other third parties identify which are the fastest-growing B/Ds are and what the growth drivers are. Third parties will gain greater insight into their existing B/D partnerships, while also discovering new partnering opportunities.

Included with Purchase

Methodology

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

Executive Summary

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A Note From the Author

U.S. Broker/Dealers Address Looming Talent Shortage from Rookie Recruitment to Advisor Succession Planning

Michael Rose

Michael Rose

Associate Director

Bio →

Michael Rose

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.

A full 37% of all broker/dealer (B/D) advisors anticipate retiring within the next 10 years. The combination of high market valuations and an aging advisor demographic makes investments in capabilities to support the transition of assets in motion as a result of advisor retirements an area of critical importance for B/Ds.

Replacing legacy talent will be a tall task. While the industry is expected to recruit 15,298 new rookie advisors into the industry, more than three-quarters are expected to fail within the first three years. Furthermore, competition for advisor talent remains high as affiliation options abound and the industry evolves from a commission-based sales culture toward a fee-based fiduciary advice culture. B/Ds that can attract and retain established advisors through the supremacy of their platforms and service offerings while developing the next generation of talent will be best positioned for growth.

Explore how B/Ds are addressing changes to their advisor talent and more with our report, U.S. Broker/Dealer Marketplace 2021: The Pursuit of Scale. With comprehensive top-down, bottom-up quantitative analysis, this report examines the implications of industry consolidation, sizes the largest B/D networks, and benchmarks B/D firms at the parent company, including all the underlying types of advisors affiliated with a given B/D.

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