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While the number of advisors in most employee channels looks set to fall over the next few years, bank brokerage will hold steady at 5.3% of the advisor marketplace. Advisors at wirehouses, regionals, insurers and independent B-Ds will all decline by a few percent by 2012, Cerulli Associates says.
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At 93%, almost all of the 500 respondents to an Edelman Financial Services survey say banks and insurance companies have serious problems that need addressing before they're worthy of trust. Almost two-thirds (63%) of respondents say government regulation is the only fix likely to stick.
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A Hewitt Associates survey of mid to large companies found that 28% currently offer managed accounts as a 401(k) option, and 25% of companies that currently don't say they are very or somewhat likely to offer managed accounts in the coming year.
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Only 10% of advisors believe their businesses hold water, Curian Capital found, but they're talking a good game. Some 68% of advisors are set for "acceleration and growth" in 2010, although only 56% have a strategic plan to make it happen.
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