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Financial Planners and Investment AdvisorsProduct Type: Market Research ReportPublished by: First Research, Inc. Published: October 2009 Product Code: R3470-3194 Description About 25,000 US companies with combined annual revenue of about $115 billion provide financial planning and investment advice to individuals and businesses. Large companies include Ameriprise Financial, BlackRock, and units of diversified financial services companies such as Morgan Stanley. The industry is concentrated: the 50 largest companies account for about half of revenue. A large local firm may have 30 employees and generate $10 million in annual revenue.COMPETITIVE LANDSCAPE Demand is driven by consumer income and wealth and demographics. The profitability of individual firms depends largely on effective marketing. Large companies have some advantages in providing expertise in a wider range of investment options, and they may be able to charge lower fees. Small companies can compete successfully by providing better service and advice. PRODUCTS, OPERATIONS & TECHNOLOGY Financial planners help customers put together a plan to manage their financial resources; investment advisors suggest specific investments. About 70 percent of industry revenue comes from providing services to individuals. Financial planners help individuals form a plan that may include debt, asset, college, retirement, estate and tax planning, and may periodically check with the client to see how well the plan is being followed. Much of the planning revolves around an income and spending budget, with advice about the types of financial investments suitable for the client. For wealthy individuals, and for organizations such as trusts, estates, and charitable foundations, financial planners offer more comprehensive and ... Table of Contents
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