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Industry Spotlight > Broker Dealers

Looking back

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This issues contains the results of Investment Advisor’s 15th annual poll, wherein we have asked reps to rate their respective broker/dealers. The poll has greatly expanded and now culminates in the awarding of Broker/Dealer of the Year honors in four different categories, but other than a greater emphasis on compliance issues, what reps look for from their B/D hasn’t changed much at all. Following are some excerpts from the reporting on our first poll in October 1991.

“Over 82% looked at their B/D as a ‘business partner’ versus 15% who considered the B/D a ‘necessary evil’…Reps overwhelmingly rated ‘due diligence’ and ‘back office support’ as the most important services they seek from B/Ds–decisively beating marketing support, product list, training, clearing services, compliance, and even payout…The highest grades were given for compliance, timely commission payment and the quality of management…[the lowest for] marketing support and training. Indeed, 15% of respondents gave failing grades to the level of marketing support provideed by B/Ds–25% graded training support as substandard.” (Ed. note: A look at the results of this year’s poll and profiles of the 2005 B/Ds of the Year honors can be found beginning on page 64.)


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