Landscape of U.S. Financial Professionals & Firms, in terms of direct marketing

1. Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com Marketing to Registered Financial Professionals or Firms

2. Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com About the company Pioneering data collection for financial services since 1966, in response to industry’s high mobility

3. About the author Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com

4. Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com Can you piece these together?

5. Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com

6. Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com How do RIA’s and Advisors overlap?

10. Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com Knowing WHO you’re after will let you know HOW MUCH of WHAT INFO is available.

13. Or title?

14. Or qualifications and designations?

16. Or title?

18. And location, or info on satellite offices?

19. Top-down or bottom-up?

20. Productivity/Worth/AUM?

22. Or title?

24. And location, or info on satellite offices?

25. Top-down or bottom-up?

26. Productivity/Worth/AUM?

29. Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com a.k.a.

32. Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com Registered Rep, “Rep”

39. Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com Broker/Dealer, “BD”

45. Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com Registered Investment Advisory, “RIA”

51. Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com A brief side note... FINRA and SEC overlap The who, the what? FINRA Financial Industry Regulatory Authority, Inc. www.finra.org SEC Securities Exchange Commission www.sec.gov

52. Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com A brief side note... FINRA and SEC overlap The who, the what? FINRA Financial Industry Regulatory Authority, Inc. www.finra.org SEC Securities Exchange Commission www.sec.gov But that’s not very helpful, so remember this... When it comes to financial professionals, ie individuals who formally handle transactions for investment products for others, FINRA vs SEC registration is a matter of compensation (from the transaction).

53. Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com FINRA and SEC overlap, II

56. Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com ... so which one(s) do you need?

57. Common denominator: RIA’s All of these can actually be explained from the RIA point of view. Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com

58. Common denominator: RIA’s All of these can actually be explained from the RIA point of view. Again, there are 27K RIA firms Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com

59. Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com RIA firms in pictures, I

60. Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com These RIA firms are broken into 4 types RIA firms in pictures, I

66. Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com RIA firms in pictures, II

67. Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com Corporate RIA’s – 16% RIA firms in pictures, II

68. Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com Corporate RIA’s – 16% Though this is only 16% of firms, this contains the largest number of individual investment professionals. We’ll see this demonstrated in a moment through the angle of Advisors. RIA firms in pictures, II

69. Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com Corporate RIA’s – 16% Though this is only 16% of firms, this contains the largest number of individual investment professionals. We’ll see this demonstrated in a moment through the angle of Advisors. Most BD firms register an RIA with the SEC, and this creates an RIA firm, which is still a BD. All major investment firms do this: Merrill Lynch, UBS, LPL, Goldman Sachs, AIG, ING... RIA firms in pictures, II

70. Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com Corporate RIA’s – 16% Though this is only 16% of firms, this contains the largest number of individual investment professionals. We’ll see this demonstrated in a moment through the angle of Advisors. Most BD firms register an RIA with the SEC, and this creates an RIA firm, which is still a BD. All major investment firms do this: Merrill Lynch, UBS, LPL, Goldman Sachs, AIG, ING... Note: Officer listings are generally not the same for a firm’s BD and RIA. RIA firms in pictures, II

71. Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com RIA firms in pictures, III

72. Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com Portfolio managers – 35% RIA firms in pictures, III

73. Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com Portfolio managers – 35% Investment services that produce financial vehicles from pooled investments in a no-load capacity – SMA’s, REIT’s, funds and trusts. RIA firms in pictures, III

74. Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com RIA firms in pictures, IV

75. Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com Hybrid advisors – 14% RIA firms in pictures, IV

76. Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com Hybrid advisors – 14%a.k.a. “runaway brokers” RIA firms in pictures, IV

77. Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com Hybrid advisors – 14%a.k.a. “runaway brokers” An individual Rep, ie a licensed professional registered with a FINRA-registered firm, who has opted to open their own RIA firm. RIA firms in pictures, IV

78. Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com Hybrid advisors – 14%a.k.a. “runaway brokers” An individual Rep, ie a licensed professional registered with a FINRA-registered firm, who has opted to open their own RIA firm. Their FINRA affiliation preserves their access to commission on transactional products, notably stocks & bonds. RIA firms in pictures, IV

79. Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com RIA firms in pictures, V

80. Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com Pure fee-based advisors – 35% RIA firms in pictures, V

81. Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com Pure fee-based advisors – 35% Advisors with no broker/dealer affiliation for commission for the sale of the investment product, so advisors whose compensation is purely fee-based. RIA firms in pictures, V

82. Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com Pure fee-based advisors – 35% Advisors with no broker/dealer affiliation for commission for the sale of the investment product, so advisors whose compensation is purely fee-based. However, this does not prevent possible compensation from the said investment product to the advisor or their firm as unaffiliated with any transaction, sometimes referred to as a “referral fee.” RIA firms in pictures, V

83. This word advisor keeps popping up Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com So let’s define because this word is used loosely...

88. Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com Altogether there are about 180K Advisors Fact Check: http://www.nasaa.org ‘Industry & Regulatory Resources’, then ‘CRD & IARD’

89. and Advisors can be seen from 2 angles Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com No. 1) No. 2)

90. and Advisors can be seen from 2 angles Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com No. 1) As we just saw within RIA firms: Hybrid advisors & Pure fee-based advisors - Collectively referred to as Independent RIA’s No. 2)

91. and Advisors can be seen from 2 angles Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com No. 1) As we just saw within RIA firms: Hybrid advisors & Pure fee-based advisors - collectively referred to as Independent RIA’s No. 2) As Reps within Corporate RIA’s (BD’s) that hold their s65/66 - which happens to be approx one third of all Reps

92. and Advisors can be seen from 2 angles Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com No. 1) As we just saw within RIA firms: Hybrid advisors & Pure fee-based advisors - collectively referred to as Independent RIA’s No. 2) As Reps within Corporate RIA’s (BD’s) that hold their s65/66 - which happens to be approx one third of all Reps ... in figure, starting with the latter

93. Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com Advisors in pictures, I

94. Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com Advisors in pictures, I

95. Advisors fall under two categories Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com Advisors in pictures, I

96. Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com either a Rep of BD firms with s65/66 (in green) Advisors in pictures, I

97. Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com either a Rep of BD firms with s65/66 (in green) which represents a striking majority of all Advisors, to the tune of 93%. Advisors in pictures, I

98. Advisors in pictures, II Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com

99. Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com or as Advisors with Own RIA Advisors in pictures, II

100. Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com or as Advisors with Own RIA The remaining 7% are Independent RIA’s who have opened their own RIA firm. Advisors in pictures, II

101. Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com or as Advisors with Own RIA The remaining 7% are Independent RIA’s who have opened their own RIA firm. Advisors in pictures, II

102. Appeal Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com Independent RIA’s Reps of BD’s with s65/66

103. Appeal Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com Independent RIA’s Reps of BD’s with s65/66 Professionals like to contact this market as it’s 10-fold-plus the size. A large portion of these can generally make his/her own decisions on services used or products represented, but corporate approval will likely be required beforehand.

104. Appeal Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com Independent RIA’s Professionals like to contact this group because these investment professionals, having a proprietary RIA, can generally make their own decision on services used or products represented. Reps of BD’s with s65/66 Professionals like to contact this market as it’s 10-fold-plus the size. A large portion of these can generally make his/her own decisions on services used or products represented, but corporate approval will likely be required beforehand.

105. Appeal Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com Independent RIA’s (15K professionals) Professionals like to contact this group because these investment professionals, having a proprietary RIA, can generally make their own decision on services used or products represented. Reps of BD’s with s65/66 (165K professionals) Professionals like to contact this market as it’s 10-fold-plus the size. A large portion of these can generally make his/her own decisions on services used or products represented, but corporate approval will likely be required beforehand.

106. Available data points Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com

107. Available data points Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com * Available depending on source ** Available depending on source, and only as an estimation if available

112. Get the right market This info should help you know what data you can expect to access Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com

113. Get the right market This info should help you know what data you can expect to access Ideally, your list broker or database source should be able to translate your goals into filters. Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com

114. Get the right market This info should help you know what data you can expect to access Ideally, your list broker or database source should be able to translate your goals into filters. Targeting more = spending less Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com

115. Get the right market Duncan Colin Campbell 888.844.5695 x 730 DCCampbell@QualifiedMedia.com www.QualifiedMedia.com This info should help you know what data you can expect to access Ideally, your list broker or database source should be able to translate your goals into filters. Targeting more = spending less... Less time. Less money. Less opportunity cost.

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