Cerulli Associates
Insurance professionals like IBD channelPosted by RJ and Makay on Apr 13, 2012 |
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Almost half (48%) of life insurance professionals, if deciding to switch to another channel, would chose to become independent broker-dealers, according to new research by Cerulli Associates. 24% of insurance advisors showed a preference to remain non-independent. The dually-registered advisor channel was the preference among 12% of advisors, and the RIA channel was the switch of choice among 11% of advisors.
The four wirehouses are losing market share to private client groups in the high net-worth (HNW) market, according to new data from Cerulli Associates. HNW wirehouse market share stood at 45%, or $2.1 trillion, in 2010 and is expected to fall to 42% by 2014. It marks the first time that wirehouses have lost the number one spot in HNW assets under management.
On Wall Street magazine has compiled the compensation plans of the large wirehouses and regional firms to see what’s in store for advisors at those firms. Annual production rankings measured firms at various levels of production from $200,000 to $1 million. The 2012 compensation story is more than the rankings or the team-based awards.
