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Moss Adams LLP Launches 14th Study of Advisory Firms: Advisors May Participate Beginning February 25

SEATTLE, Wash. (Feb. 25, 2008)—The 2008 Moss Adams Financial Performance Study of Advisory Firms launches this week and advisors are urged to participate.  The annual study, respected across the industry as a vital practice management tool, provides data and insights to help financial advisors across all business models achieve success.  Reviewed in detail are characteristics of the industry’s most successful firms, segmented by their stage of development.  Study coverage includes:

  • Analysis of the critical practice management issues of all business models – from RIA to broker-dealer affiliated and hybrid firms,
  • Consideration of issues unique to each service model, including investment management firms, wealth management firms, advisory firms and planners,
  • A focus on the path to best performance for solo practices, who are the foundation of the industry.
  • Review of the practice management challenges of the industry’s largest and most advanced firms, who are defining the future of the industry

Well established across the industry as the most comprehensive study of its kind, the annual study has been spearheaded by Moss Adams since 1992. The last edition of the study had more than 700 advisory firms participating.

For the first time, Genworth Financial Wealth Management will exclusively sponsor the Moss Adams study this year.  “The Financial Performance Study is truly the most comprehensive study of its kind in the industry,” stated Brian O’Toole, CEO of Genworth Financial Wealth Management.  “We’re honored to be the exclusive sponsor of the study, and we look forward to leveraging the insights of the study ourselves to further help financial advisors build their businesses.” 

“The 2008 financial performance study is an ideal follow-up to our 2007 compensation and staffing study. Last year’s study found that dramatic growth of the independent advisory industry created a talent supply shortage that isn’t expected to subside anytime soon,” explains Rebecca Pomering, principal of Moss Adams LLP.  “We also found that demand pushed up compensation levels by 44%.  The 2008 study will analyze what the best firms are doing from a financial and operating perspective to counter a tight labor market.  Areas slated for examination include the distribution of ownership and implementation alternatives for efficient service delivery.”

All advisory firms in operation for at least a year and generating a minimum of $50,000 in annual revenue are welcome to submit a survey. There is no cost to support and benefit from this important industry research initiative.  Participating firms will receive a complimentary copy of the study results and access to a Moss Adams Web cast that will provide an overview of the survey and allow the research team to address questions from the audience.  These resources provide a valuable perspective for participating firms in gauging their performance against their peers and the industry at large.

The survey can be accessed at www.mossadams.com/2008advisorsurvey from February 25 through April 1, 2008.  Participants can complete the entire survey online.  Individual data reported will be kept strictly confidential, and results will only be reported in the aggregate. For more information about participating in the survey, please contact Dan Inveen at 206-302-6521.

About Genworth Financial Wealth Management

Genworth Financial Wealth Management, a Genworth Financial Company, is an investment management and consulting firm dedicated to helping financial advisors build great businesses.  Genworth Financial Wealth Management represents the merger of two Genworth subsidiaries, AssetMark Investment Services and Genworth Financial Asset Management, and provides one of the most comprehensive fee-based investment management platforms in the industry, in addition to client relationship management tools and business development programs.

Press Contacts

Amy Esary

2200 Rimland Drive
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Bellingham, WA 98226
Phone: 360-676-1920
Fax: 360-671-5411

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Moss Adams LLP is the 11th largest accounting and consulting firm in the United States and the largest firm headquartered in the West. Moss Adams LLP has two affiliated companies, over 250 partners and 1,600 employees, and is focused on providing client service to public, private, and not-for-profit enterprises through specialized industry and service practice teams.