The number of fee-based financial advisors will top 19,000 by 2016, up 20 percent since 2011, according to new research.
Tiburon Strategic Advisors discloses this finding in an August report on the evolution of financial advisor channels. The survey examines changes among full-service brokerage firms, independent advisors, insurance agents, retail banks, upscale channels and real estate professionals.
Fee-based financial advisor custodians' net profits will increase to $4.2 billion by 2016, up 250 percent from 2011, the report states. Custodian assets under administration will increase to $14.0 trillion by 2016, up 250 percent from 2011. And custodians' revenues will increase to $28.0 billion in 2016, up 250 percent from 2011.
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