How we did it, who did it – and who wouldn’t

COLLECTING and recording the data for a comprehensive survey such as the Top 100 Dealer Groups Survey is a task of large proportions, and this year research houseDexx&rtook on the job.

Dexx&r is well-known for providing research and information services within the financial services industry, and was also the research house responsible for the firstMoney ManagementAdviser Choice Risk Awards earlier this year.

Dexx&r was originally formed in 1989 as Rice Kachor Research, and is now wholly owned by managing director Mark Kachor.

The group’s research activities encompass all retail and wholesale market segments and include all available products, platforms and funds.

To gather the information for this year’s survey, Dexx&r used methodology consistent with previous years. A questionnaire was distributed by e-mail to a database of approximately 150 of the industry’s larger dealer groups.

The database is a culmination of lists from a diverse range of sources, including Dexx&r’s resources andMoney Management’s Blue Booklistings. Responses were collated into a database and analysed, with the Top 100 dealer groups ranked by the number of financial planners in each firm as at August, 2003.

Data was also collected on gross revenue, funds under management and the number of clients for each of the dealer groups.

Dexx&r contacted the groups that failed to respond, and where no information could be drawn, numbers were based on publicly available information and data published from alternate sources.

All efforts have been made to make the final league table as accurate as possible, however, some dealer groups were not forthcoming with information, which meant some educated estimates were necessary. Measures were taken to ensure all references were cross-checked with other sources.

Kachor says this year’s survey revealed “quite a degree of consolidation”.

“The real issues in gathering the data were a reduction in the number of dealers compared with previous years,” Kachor says.

“There was particularly a lot of consolidation among the top dealer groups — many were in the process of restructuring with Financial Services Reform (FSR) looming and other changes being made... But what we’ve got now is a pre-FSR snapshot. What will be really interesting will be to compare this year’s data with next year’s post-FSR results.”

Money Managementwould like to thank all the financial planning dealer groups that took part in this year’s Top 100 survey, including those smaller groups that did not make the list. Their input helped build the largest and most comprehensive guide yet.

Without the support of the dealer groups, this invaluable asset to the industry would not be available.

The dealers that chose not to participate in the 2003 Top 100 Dealers Survey, for various reasons, wereAustChoice,Australian Investment & Financial Planners,Barbacan Benefits, Bendigo Bank Wealth Management,Community & Corporate Financial Services, D&D Tolhurst,Deakin Financial Services,Direct Portfolio Services Limited, Equity Financial Services,Financial Planning & Life,Financial Technology Securities,Gannon Growden Schonell,Industry Fund Services,Millenium Financial Services, Northhaven Financial Management,Plan B Financial Services,Qinvest,St George BankandTolhurst Noall. We look forward to their participation next year.