Why Teams Are the Client of the Future for Broker-Dealers

BNY Mellon's Pershing

09/01/2015

Why Teams Are the Client of the Future for Broker-Dealers

How can you position your firm to become the broker-dealer of choice for fast-growing teams?

Today, 32% of all advisors already belong to a team—and with good reason. Large ensembles grow faster, achieve superior financial results and attract bigger client portfolios than solo practices.[1] The trouble is, many affiliation models still revolve around individual reps. How can you position your firm to become the broker-dealer of choice for fast-growing teams?

Why Teams Are the Clients of the Future for Broker-Dealers chronicles the growth and success of advisor ensembles. It also offers a roadmap for broker-dealers looking to attract and retain elite teams—from building stronger cultural connections to placing a greater emphasis on thought leadership. The study discusses:

  • 3 key reasons why teams generate 12% more revenue per person than individual advisors[2]
  • The striking correlation between team size and client portfolios
  • Why ensembles are the fastest-growing advisor businesses—but also the most vulnerable to attrition
  • How to reimagine broker-dealers as “resource hubs” and sources of capital for top-performing teams
  • Ideas for retooling affiliation models, from optimizing payout grids to recognizing all members of a team
  • The diverse types of large teams—and how to work with each more effectively

[1] Source: Investment News Financial Performance Study, Pershing LLC, Sponsor, 2014.

[2] Ibid


BNY Mellon's Pershing

BNY Mellon's Pershing

BNY Mellon’s Pershing and its affiliates provide a comprehensive network of global financial business solutions to advisors, broker-dealers, family offices, hedge fund and ’40 Act fund managers, registered investment advisor firms and wealth managers. Many of the world’s most sophisticated and successful financial services firms rely on Pershing for clearing and custody; investment, wealth and retirement solutions; technology and enterprise data management; trading services; prime brokerage and business consulting.

Pershing helps clients improve profitability and drive growth, create capacity and efficiency, attract and retain talent, and manage risk and regulation. With a network of 23 offices worldwide, Pershing provides business-to-business solutions to clients representing approximately 7 million investor accounts globally. Pershing LLC (member FINRA, NYSE, SIPC) is a BNY Mellon company. 

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