Numbers Game

Numbers Gameblog

Latest research and trends from around the financial advisory business, updated regularly highlighting stats, charts, infographics and all things data.

Apr 27, 2017, 5:46 PM EST

Donald J. Trump's first 100 days

By InvestmentNews Research and Ellie Zhu

Did you vote for Donald J. Trump for president in November 2016? ... Read full post

Apr 23, 2017, 12:01 AM EST

Top independent broker-dealers by revenue and payout

By IN Research and Ellie Zhu

Top 50 IBDs ranked by 2016 revenue Bubble view By group Table view Firm2016 revenue ($M)% change vs. 20152016 commission revenue ($M)% change vs. 20152016 fee revenue ($M)% change vs. 20152016 other revenue ($M)% change vs. 20151LPL Financial$3,977.4 -5.4%$1,681.8 -12.4%$1,285.3 -4.3%$1,010.4 7.7%2Ameriprise Financial Services Inc.$3,945.0 0.7%$1,331.3 -4.9%$1,998.0 3.1%$615.6 6.0%3Raymond James Financial Services Inc.$1,790.2 3.4%$648.4 -4.2%$854.7 6.5%$287.0 13.6%4Commonwealth Financial Network$1,068.7 6.1%$276.7 -3.4%$644.5 7.9%$147.5 19.8%5Wells Fargo Advisors Financial Network$910.8 5.4%$256.6 -2.1%$419.8 5.5%$234.5 14.9%6Lincoln Financial Network$826.3 -3.3%$591.4 -6.0%$191.9 4.4%$43.1 3.4%7AXA Advisors$727.5 -2.6%$536.8 -4.5%$158.9 2.5%$31.8 6.8%8Cambridge Investment Research Inc.$711.5 1.9%$241.1 -3.7%$388.3 5.9%$82.1 1.1%9Securities America Inc.$535.7 -2.9%$229.7 -8.3%$248.5 2.3%$57.5 -1.7%10Cetera... Read full post

Apr 22, 2017, 7:31 PM EST

Independent broker-dealer revenue on the decline

Number-main

By Ellie Zhu Matt Sirinides

InvestmentNews' research team examined how 57 independent broker-dealers, who have participated in our in-depth survey every year since 2011, have fared through a shifting financial advisory landscape.In 2016, independent broker-dealers saw revenues decline for the first time since the industry's recovery following the Great Recession. As Bruce Kelly reports, the top 25 largest firms reported a year-over-year decline of -1.3%. By comparison, of the total 57 firms who have participated in our survey every year since 2011 — a list that includes the vast majority of the biggest firms in the industry — firms posted a similar average year-over-year decline of -1.7%. However, it's clear that the largest and most successful firms are carrying an outsize portion of success, as median firm revenue retreated by approximately -4%. (More: InvestmentNews Broker-dealer Data Center for full data and profiles)We illustrate here the... Read full post

Apr 16, 2017, 11:28 AM EST

Where tech dollars at advisory firms are being spent

By IN Research and Ellie Zhu

Average technology spending per firm and spending growth, 2013-17Source: 2017 InvestmentNews Adviser Technology Study*ProjectedTotal technology spending by category, 2015-17Source: 2017 InvestmentNews Adviser Technology StudyCore software product usage, 2013-17Source: 2017 InvestmentNews Adviser Technology StudyCore software product usage, projectedSource: 2017 InvestmentNews Adviser Technology StudyFirms that offer a client portalSource: 2017 InvestmentNews Adviser Technology StudyPercentage of firms using fully digital account opening and client-onboarding processesSource: 2017 InvestmentNews Adviser Technology StudyPercentage of firms using eSignature softwareSource: 2017 InvestmentNews Adviser Technology StudyPercentage of firms offering robo-adviceSource: 2017 InvestmentNews Adviser Technology Study... Read full post

Jan 22, 2017, 11:59 AM EST

Equity ETFs ranked by Q4 2016 performance

By InvestmentNews Research

Ranked by quarterly returnsName/ticker3-month return1-year returnNet assets ($M)Expense ratio*3-month average daily volume1SPDR S&P Regional Banking ETF (KRE)32.02%34.83%$3,556.80.35%7,010,5122SPDR S&P Bank ETF (KBE)30.76%30.75%$3,305.10.35%3,784,2333PowerShares KBW Bank Portfolio (KBWB)30.11%28.02%$618.50.35%606,4604First Trust NASDAQ Bank ETF (FTXO)29.49%N/A$9.10.60%12,3965iShares US Regional Banks ETF (IAT)29.41%32.18%$607.40.44%223,6456PowerShares KBW Regional Banking Portfolio (KBWR)29.15%38.50%$234.80.35%31,9257First Trust NASDAQ ABA Community Bank Index Fund (QABA)28.27%37.59%$404.00.60%79,8228WisdomTree Japan Hedged Financials Fund (DXJF)28.10%-7.22%$75.50.48%51,5669iShares MSCI Saudi Arabia Capped ETF (KSA)25.37%9.24%$6.20.74%4,23310VanEck Vectors Steel ETF (SLX)23.58%95.75%$185.30.55%104,32011VanEck Vectors Russia Small-Cap ETF (RSXJ)22.68%101.28%$88.80.77%9,63512US Global Jets ETF (JETS)22.25%13.15%$65.70.60%39,... Read full post

Jan 22, 2017, 2:01 PM EST

Top independent broker-dealers reveal their payout tables

By InvestmentNews Research

The 2017 InvestmentNews independent-broker-dealer directory is based on information provided by 90 eligible firms. To be considered for future listings, contact INResearch@investmentnews.com. Visit InvestmentNews.com/bddata for more-complete profiles.... Read full post

Jan 22, 2017, 9:20 AM EST

Fixed-income ETFs ranked by Q4 2016 performance

By InvestmentNews Research

Ranked by quarterly returns Name/ticker3-month return1-year returnNet assets ($M)Expense ratio*3-month average daily volume1PowerShares Japan Currency Hdg Low Volatility Port (FXJP)10.83%-0.04%$1.30.25%3922PowerShares DB US Dollar Index Bullish Fund (UUP)7.13%3.04%$845.90.75%1,823,2713WisdomTree Bloomberg US Dollar Bullish Fund (USDU)7.05%2.57%$205.10.50%87,2474JPMorgan Diversified Rtn Intl Currency Hedged ET (JPIH)6.64%N/A$28.80.49%4,7435Sit Rising Rate ETF (RISE)4.96%-2.19%$10.71.50%3,3556ProShares High Yield-Interest Rate Hedged (HYHG)4.81%14.61%$100.60.50%8,6387Peritus High Yield ETF (HYLD)4.58%17.20%$199.01.28%5,2408Deutsche X-trackers Hi Yield Corp Bd - IR Hdg ETF (HYIH)4.28%13.82%$9.30.35%2,8999VanEck Vectors Treasury-Hedged High Yield Bond ETF (THHY)4.13%13.20%$4.70.50%1,43610ProShares Inflation Expectations ETF (RINF)3.99%2.99%$46.10.30%22,80711iShares Interest Rate Hedged 10+Year Credit Bd ETF (CLYH)3.94%6.98%$8.60.30%3,... Read full post

Dec 4, 2016, 7:33 PM EST

Top regional fee-only RIAs

By IN Research and Ellie Zhu

RankFirmPhoneWebsiteTotal assets ($M)Total accountsEmployees1Silvercrest Asset Management Group(212) 649-0600silvercrestgroup.com$31,199.21,0681172Veritable(610) 640-9551veritablelp.com$13,588.52,999853BBR Partners, LLC(212) 313-9870bbrpartners.com$10,858.42,552954Summit Rock Advisors, L.P.(212) 993-7150summit-rock.com$10,735.0100515Rockefeller & Co., Inc.(212) 549-5100rockco.com$10,497.42,7321546Tiedemann Wealth Management, LLC(212) 396-5900tiedemannwealth.com$8,342.2407857TAG Associates LLC(212) 275-1500tagassoc.com$8,125.41,186678Anchor Capital Advisors LLC(617) 338-3800anchorcapital.com$8,104.724,359499Boston Private Wealth LLC(800) 422-6172bostonprivatewm.com$7,108.57,28014010Pinnacle Associates, Ltd.(212) 652-3200pinnacleinsights.org$6,020.83,7355011Athena Capital Advisors LLC(781) 274-9300athenacapital.com$5,998.74464712Ballentine Partners(781)341-1300ballentinepartners.com$5,989.73,3765513KLS Professional Advisors Group,... Read full post

Nov 27, 2016, 11:13 AM EST

Independent broker-dealers boost tech spending

By IN Research and Ellie Zhu

In a survey fielded late this summer, InvestmentNews found that the typical independent broker-dealer spent $13.6 million on technology in 2015, representing 7.1% of their total operating expenses and 2.2% of their annual revenues. With the importance of technology rising, IBDs projected they would end this year, on average, having spent 12% more than last year. And increases are expected to continue in the new year.The survey, which informs these graphics, covers tech plans of IBDs represented by 51 parent firms with medians of $170 million in revenue and 755 affiliated registered representatives in 2015. For more information on firms from whom we collect quarterly data, visit data.investmentnews.com/broker-dealer-data/.... Read full post

Nov 21, 2016, 7:35 PM EST

Women-owned advisory firms outperform their peers

By IN Research and Ellie Zhu

InvestmentNews Research conducts an annual benchmarking study, shifting its focus each year between financial performance and compensation and staffing. Last year, we collected staffing and salary benchmarking data for firms from 2014, including the gender of all staff members, and that data yielded interesting findings about the careers of women who own and work at independent advisory firms. This year, in our 2016 InvestmentNews Financial Performance Study, sponsored by Pershing Advisor Solutions, we collected 2015 data that included not only firms' income statements and their client, asset, revenue and profit information, but also data on their fees and services, growth strategies, business development and marketing strategies, and equity management practices.For a snapshot of how women differ in those areas from their male counterparts, we used information on the gender of firm owners to identify women-owned advisory firms, defined ... Read full post

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