Crystal ball

Advisor migration to grow independent channels to 38 per cent asset marketshare

Advisor migration is projected to grow independent channels to 38 per cent of asset marketshare through 2016, according to research from Cerulli Associates.

"We anticipate the registered investment advisor and the dually registered channels are going to be the beneficiaries of advisor movement," says Kenton Shirk, associate director at Cerulli.
Cerulli's Intermediary Distribution 2013: Managing Sales Amid Industry Consolidation report examines the distribution of financial products within the US The report includes advisor marketsizing, advisor product use, and asset manager sales organisations.
"Across the advisor industry, there is a strong desire for independent operation and ownership. The draw of autonomy, combined with the trend toward fee-only relationships, has enhanced the appeal of the independent channels," Shirk says.
To manage advisors transitioning between channels, Cerulli recommends that distributors clearly delineate ownership, empower divisional sales managers to track advisor transitions, and standardise transition hand-offs between wholesalers to ensure relationship continuity.

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