RESEARCH |
2008
B/D Survey – Guide to Broker/Dealers' Retirement Plan Services
In spring of 2008, PLANADVISER sent an e-mail to its database of broker/dealers to learn what some are doing to accommodate retirement plan advisers. This is a list of all respondents and a sampling of their answers.
Reported by PLANADVISER
| Art by In spring of 2008, PLANADVISER sent an e-mail to its database of broker/dealers to learn what some are doing to accommodate retirement plan advisers. This is a list of all respondents and a sampling of their answers.
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In spring of 2008, PLANADVISER sent an e-mail to its database of broker/dealers to learn what some are doing to accommodate retirement plan advisers. This is a list of all respondents and a sampling of their answers.
This chart accompanies the article "Mistake in Identity," PLANADVISER September-October 2008.
| Firm Name (location) | Web site | Total Advisers | Fee-Based Advisers | Retirement Plan Advisers | Average Annual Gross Production | Average AUM ($ millions) | Revenue % from Retirement Plans | Home Office Staff Support | Retirement Plan Staff Support | Compliance Staff Support | Retirement Plan Sales Support | Advisers Can Act as Plan Fiduciaries | Advisers Allowed to Service as RIA |
| AXA Advisors (NY) | www.axaonline.com | 6,030 | 1,380 | 2,626 | $121K | $5.9 | N/A | 98 | NR | 40 | Yes | No | Sometimes |
| AXA Equitable (NY) | www.axa-equitable.com | NR | NR | NR | NR | NR | NR | NR | NR | NR | Yes | No | No |
| Brecek & Young Advisors (CA) | www.brecek.com | 373 | 248 | NR | $345K | $4 | NR | 58 | NR | 10 | Yes | Sometimes | Sometimes |
| Cambridge Investment Research (IA) | www.joincir.com | 1,381 | 997 | 55 | $223K | $27 | 4% | 245 | N/A | 32 | No | No | Yes |
| Cantella & Co. (MA) | www.cantella.com | 230 | 100 | 26 | NR | NR | NR | NR | NR | NR | NR | NR | NR |
| CAPTRUST (NC) | www.captrustadvisors.com | 25 | 25 | 20 | N/A | $800 | 65% | 96 | 51 | 2 | Yes | Yes | Yes |
| Commonwealth Financial Network (MA, CA) | www.commonwealth.com | 1,443 | 1,010 | 380 | $357K | $22 | NR | 415 | 5 | 26 | Yes | Yes | Yes |
| Correll Co. Investment Services Corp. (IL) | www.cciscinvestments.com | 7 | 3 | 4 | NR | NR | 20 | 3 | 3 | 2 | Yes | No | Yes |
| Financial Telesis (CA) | www.financialtelesisinc.com | 200 | 25 | 125 | $186K | $125 | 80% | 45 | 40 | 6 | Yes | Yes | Yes |
| GBS Financial Corporation (CA) | www.gbsfinancial.com | 62 | 23 | NR | $150K | NR | NR | 10 | 6 | 2 | No | No | Yes |
| Multi Financial Securities Corp. (CO) | www.multifinancial.com | NR | NR | NR | NR | NR | NR | NR | 4 | nr | Yes | No | No |
| NFP Securities, Inc. (TX) | www.nfp.com | 1,678 | 908 | 175 | $291K | $8 | N/A | 180 | 5 | 29 | Yes | Sometimes | Yes |
| Northwestern Mutual (WI) | www.nmfn.com | 1,249 | 0 | 1,160 | $173K | $5 | 12.6% | 554 | 11 | 95 | Yes | No | No |
| NRP Financial, Inc. (OH) | www.nrpfinancial.com | 278 | 129 | 161 | $750K | $250 | 69% | 110 | 54 | 15 | Yes | Yes | Yes |
| PlanMember Securities Corporation (CA) | www.joinplanmember.com | 375 | 375 | 37 | $96K | $4 | 80% | 97 | 83 | 5 | Yes | No | No |
| Raymond James Financial (FL) | www.advisorchoice.com | 4,767 | 2,830 | NR | $371K | $49 | NR | 3,863 | 12 | 165 | Yes | Sometimes | Sometimes |
| Triad Advisors (GA) | www.triad-advisors.com | 390 | 320 | 55 | $165K | $45 | 5% | 42 | 1 | 5 | Yes | Yes | Yes |
| Woodbury Financial Services, Inc. (MN) | www.woodburyfinancial.com | 1,800 | 632 | NR | $154K | $12 | NR | 250 | 7 | 27 | Yes | Sometimes | Sometimes |