InvestmentNews has entered into a partnership with Moss Adams LLP of Seattle to continue the research and studies conducted and produced by Moss Adams since 1992 on independent financial advisory firms.
The first initiative of the partnership — the 2009 Moss Adams/InvestmentNews Adviser Compensation and Staffing Study — is currently open for participation at www.investmentnews.com/adviserstudy by owners and managers of registered independent advisory firms and firms affiliated with independent broker-dealers. The deadline for submitting survey data is June 5.
“The methodology of the study will be consistent with past annual compensation and staffing studies conducted by Moss Adams, building on the tradition of this biannual study,” said Suzanne Siracuse, vice president of Crain Communications Inc. and publisher of InvestmentNews, which will be responsible for the distribution of the survey and the report, which will be released in September.
Moss Adams and InvestmentNews will produce the report in conjunction with Best Practice Research, an independent research firm in San Diego headed by Matthew McGinness, formerly vice president of business consulting at LPL Financial in San Diego and a former associate director at Boston-based research firm Cerulli Associates Inc. Individual participant data will remain confidential and will not be accessible by reporters or editors of InvestmentNews.
“The agreement between Moss Adams and InvestmentNews to continue producing this insightful industry benchmark survey is good news for the advisory profession,” said Mark Tibergien, managing director of Pershing LLC and former head of the advisory practice at Moss Adams. “I know from experience that this type of analysis enhances the business of financial advice.”
Jersey City, N.J.-based Pershing, a subsidiary of The Bank of New York Mellon Corp., is sponsoring this year’s study.
“After making changes in our consulting business last year, one of our highest priorities was to find a way to continue this annual research, which has become such a vital tool to advisers in managing their businesses,” said Rebecca Pomering, a Moss Adams partner. “We are pleased that the study will continue, especially at a time when advisers are so closely examining their business and people practices in light of the changing business environment.”
In addition to examining how the current economic downturn has affected practices and staffing, this year’s Moss Adams/InvestmentNews study will include detailed compensation benchmarking data for more than 30 typical advisory positions; practice profiles, including staffing, revenue and service mix; trend data including changes in staff, clients and assets under management; and components of compensation. Detailed information on financial and operating ratios, financial statements and ownership financing also will be included.
In 2010, the partnership will produce a report on the financial performance of advisory firms.
