How we did it
investment executive’s (ie) annual Advisors’ Report Card provides an opportunity to take a step back, look at the big picture in the financial services sector, and explore the issues affecting financial advisors across the sector’s key distribution channels.
Specifically, this Report Card aims to make sense of the major themes and trends affecting the 1,753 advisors at 38 firms surveyed for the Brokerage Report Card, the Dealers’ Report Card, the Report Card on Banks and the Insurance Advisors’ Report Card combined.
To get a better sense of how these advisors feel about their firms’ efforts in a variety of important categories, IE research journalists Latifa Abdin, Sophie Allen-Barron, Charles Bossy and Jennifer Cheng asked each survey participant to give two ratings in each category: one for their firm’s performance and the other for the category’s importance to that advisor’s business.
Advisors provided ratings based on a scale of zero to 10, with zero meaning “poor” or “unimportant” and 10 meaning “excellent” or “critically important.” To provide context to these ratings, advisors were also asked to explain the reasons for providing those ratings.
In addition to gauging how advisors feel about their firm’s efforts, IE also asked advisors to provide their thoughts on two major trends affecting the financial services sector in two supplementary questions added to this year’s Report Cards.
One question asked advisors if they favour the Canadian Securities Administrators’ proposal to introduce a “best interest” standard to the rules governing the client/registrant relationship. (See story on page 1.)
The second question asked survey participants if their firms encourage advisors to drop their smallest clients from their books of business; if so, advisors then were asked what the cut-off threshold applied to the minimum client account size that advisors could take on. (See page C8.)
IE also offers additional, web-exclusive slide shows regarding this year’s Advisors’ Report Card that explore key i ndustry trends more in depth. You can view the Advisors’ Report Card special features on www.investmentexecutive.com.