This year’s report Card series is Investment Executive’s biggest yet. Researchers Neil Acharya, Aaron Broverman, Aeden Fowley and Vera Ovanin spent almost six months calling advisors with 47 firms (including four newcomers), completing 1,930 surveys.

As in previous years, IE published four Report Cards in 2008 — the Brokerage Report Card in May, the Dealers’ in June, the Account Managers’ in July and the Insurance Advisors’ in August. Each report looked at issues and trends relevant to that specific distribution channel of the financial services industry. A random sample of advisors were asked to rate their firms in a number of categories on the basis of one to 10, with a score of 10 indicating strong performance.

This Advisors’ Report Card amalgamates that data and examines issues that affect all firms and advisors, regardless of the distribution channel.

The Brokerage Report Card surveyed advisors with 16 firms with various business models — ranging from boutiques and independents to bank-owned brokerages.

The Dealers’ Report Card focused on 15 firms, some of which sell both securities and mutual funds, and others that sell mutual funds only. The big trend in this channel is that more firms are merging to create large full-service platforms.

The Account Manager’s Report Card examined the banking and credit union environments for those advisors in branches who sell investment products. This survey varied from the first two as it focused on salaries, commissions and referral systems as opposed to books of business and direct ownership.

The Insurance Advisors’ Report Card was first published in 2001, and this year we added RBC Life Insurance Co. and IDC Financial Inc. This survey focused on the two big elements of the insurance industry: firms with dedicated sales agents as well as some of the larger managing general agents.

Past Report Cards are available online at www. investmentexecutive.com. IE