Investment advisors are experiencing significant growth in their businesses as their books have reached a new all-time high, but dissatisfaction is growing among advisors with bank-owned dealers as the parent banks are exerting unprecedented influence on their brokerage firms.
May 17, 2017Dave Kelly, senior vice president of TD Wealth Private Wealth Management, discusses the significantly higher ratings advisors gave to TD Wealth Private Investment Advice in the 2017 Brokerage Report Card.
Although the Report Card average has remained quite stable in the past decade, some firms have seen some dramatic changes in their ratings
Although advisors with bank-owned firms have bigger books and greater productivity on average than those with independent dealers, advisors with independent dealers are more likely to recommend their firms
Pablo Fuchs, senior editor at Investment Executive, and Fiona Collie, staff writer, discuss the research methods used to create the 2017 Brokerage Report Card.
There are several reasons why advisors with bank-owned investment dealers are unhappy this year, but the shift from being "bank-owned" to "bank-run" is the most prevalent
Pablo Fuchs, senior editor with Investment Executive, and Fiona Collie, staff writer, discuss the results of the 2017 Brokerage Report Card. This year, investment advisors with bank-owned investment dealers were unhappy with their firm for several reasons.
How advisors rated their firms
Other key metrics also shifted: higher-value accounts now make up a growing proportion of the average book fee- and asset-based sources of revenue continue to rise and top performers are driving a shift toward the use of ETFs
Ratings for TD Wealth Private Investment Advice, BMO Nesbitt Burns and ScotiaMcLeod swung dramatically this year for a variety of reasons. Corporate culture, strategy and communication were key points of focus for advisors
The difference between how advisors with bank-owned dealers and their counterparts with independent firms feel about their corporate culture is more pronounced
This Report Card summarizes data from each of the Brokerage, Dealers' and Bank reports, looking at the trends across the financial advice industry
This year's research reveals how well the Big Six are meeting branch advisors' need for coaching, fair pay and effective tools
Advisor satisfaction across most of the 11 full-service and mutual fund dealers in the Report Card has held steady or improved compared with 2023
The Report Card, which has been published for more than 30 years, explores the concerns and needs of investment advisors in Canada as their firms…