Wirehouses are losing out to registered investment advisors, broker-dealer mega teams and home-office due-diligence relationships when it comes to capturing marketshare.
That’s according to a report from Boston-based research firm Cerulli Associates, “U.S. Intermediary Distribution 2016: Evolving Roles in Distribution,” which found that growth on the part of the winning channels is driving a move toward more sophisticated, investment- and data-focused interactions that have traditionally been reserved for firms operating within the institutional space.
When it came to growth, Cerulli found that, in 2015, the independent registered investment advisor channel grew assets faster than any other advisor channel, experiencing growth of 6.2 percent compared with an average of 0.9 percent for all channels.
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