Industry News

Brokerage Report Card 2017

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.

In this Special Feature

  • Brokerage Report Card 2017: Editors discuss this year’s findings

    Pablo Fuchs, senior editor with Investment Executive, and Fiona Collie, staff writer, discuss the results of the Brokerage Report Card 2017. This year, investment advisors with bank-owned investment dealers were unhappy with their firm for several reasons.

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  • Slideshow: How brokerages have fared during the past 10 years

    Although the Report Card average has remained quite stable in the past decade, some firms have seen some dramatic changes in their ratings

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  • Brokerage Report Card 2017 main chart

    How advisors rated their firms

    Brokerage Report Card
  • Brokerage Report Card 2017: TD Wealth PIA experiences major shift in fortunes

    Dave 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.

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  • Banks’ presence is felt

    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

    Brokerage Report Card
  • Slideshow: Taking stock of each brokerage’s average advisor

    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

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  • Advisors saw solid growth in AUM

    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

    Brokerage Report Card
  • Big shifts for three bank-owned firms

    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

    Brokerage Report Card
  • Gulf in corporate culture widens

    The difference between how advisors with bank-owned dealers and their counterparts with independent firms feel about their corporate culture is more pronounced

    Brokerage Report Card
  • Advisors favour “best interest” standard

    A remarkable 71% of investment advisors support the CSA's proposal to introduce a best interest standard due to the need to elevate industry standards across the board and to increase transparency in advisor/client relationships

    Brokerage Report Card
  • Finding another home for clients?

    The is growing sentiment that financial advice is increasingly available only to high net-worth investors

    Brokerage Report Card
  • Still much room for improvement

    The enhanced performance and fee disclosure included in client account statements have yet to make the impact many advisors expected - although some advisors point to other reasons for their continued dissatisfaction

    Brokerage Report Card
  • Brokerage Report Card 2017: The making of a Report Card

    Pablo Fuchs, senior editor at Investment Executive, and Fiona Collie, staff writer, discuss the research methods used to create the 2017 Brokerage Report Card.

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