Retail Brokerage
McLagan’s Brokerage Performance Monitor Service has been an industry standard tool for over 30 years. Our reports enable home office and field management to identify performance improvement opportunities in each market by providing very detailed performance benchmarks. The granularity and accuracy of our reports make them indispensable tools for building very specific branch improvement plans.
Our consultants help our clients by adding further insights to the data based on decades of experience analyzing this industry.
We help our clients manage pay and performance issues through fact-based consulting. We combine unrivaled proprietary data with experience-based insights to help our clients find the right answer to their problems.
Selected engagements include:
Financial Advisor Compensation: Assessed a regional brokerage firm’s Financial Advisor compensation plan and identified significant opportunities to improve the attractiveness of the plan, better meet the firm’s strategic objectives while remaining cost neutral. Advised management on the implementation and roll-out of the new plan.
Branch Manager Compensation: Advised a national brokerage firm on design improvement opportunities for its Branch Manager compensation plan.
Business Planning: Assessed a HNW brokerage firm’s business plan by modeling key plan assumptions and testing versus market performance benchmarks. Identified improvement opportunities not addressed by the plan and risks to the plan not adequately addressed.
Branch Location: Advised a HNW brokerage firm on location strategies for branch offices by analyzing current branch coverage versus client asset concentrations and competitor profit pools by market. Prioritized branch opening opportunities.
Sales Assistants: Advised a HNW brokerage firm on Sales Assistants and Client Associate job design, pay practices and pay levels.
Wholesalers: Advised a National brokerage firm on pay practices and pay levels for internal wholesalers.
McLagan's Private Client performance surveys help firms identify growth and improvement opportunities so that they can allocate resources to these high potential areas. Our performance surveys cover every key dimension of brokerage firm performance including FA productivity, costs and profitability, product revenues and market share by household segment. This performance data also provides valuable context to compensation data that enables management to more effectively link pay to performance.
The following surveys are available in Retail Brokerage:
FA Productivity by Years of Experience: Tracks FA production and assets by experience level and market.
Product Revenue: Tracks product productivity in over 40 product categories market by market.
Cost and Profitability: Benchmarks brokerage branch costs, profitability and capacity utilization in each market.
Household: Measures market share by client wealth segment by product and account type.
FA Compensation Plan: Benchmarks FA compensation plan payouts.
Recruitment: Benchmarks market share of competitive recruit hiring, recruitment compensation levels and deal structure and recruit performance.
Banking and Lending: Measures Financial Advisor-based banking and lending productivity by product, pay and market practices.
Trainee study: Describes Financial Advisor training programs, trainee compensation and trainee performance benchmarks.
