Financial Planners & Investment Advisers Industry Overview

  • SIC Code6282
  • NAICS Code523930

Industry Excerpt

Companies in this industry provide customized investment advice and financial planning services. Major companies include US-based Ameriprise Financial and AXA Financial (a subsidiary of France's AXA), as well as AMP Limited (Australia), IGM Financial (Canada), and units of diversified financial services companies such as Morgan Stanley (US).

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. The US industry is concentrated: the 50 largest companies account for about 55% of industry revenue.

Products, Ops & Technology

The relationships between financial planners, investment advisers, and other professionals in the financial services industry are complex, and their roles often overlap. Financial planners help customers put together a plan to manage their financial resources; investment advisers suggest specific investments.
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