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This year, as the Financial Planning staff began work on the FP 50 Survey, we were very concerned about how independent broker-dealers would feel about taking time to share data which, frankly, isn't as great as it's been in the past. I'm delighted to report that 91 broker-dealers responded to our survey this year, more than ever before. So check 'em out!
As always, we have extensive information about these firms, from their total revenues and payouts to breakouts of account sizes. If you're wondering about your broker-dealer or thinking about moving, you'll find the data you need to make an informed decision.
The FP 50 Survey is a huge task and a lot of people contribute. Leader of the project is Deputy Editor Stacy Schultz, who is meticulous, focused, organized, calm—all the things I am not. New to the undertaking this year is Senior Editor Paul Menchaca, who turned the chaos of 2008 into a fascinating story. James Jarnot and Ryan Egan, our art director and designer, created tables and graphics that are as easy and compelling to read on the fifteenth page as they are on the first. I am so impressed and grateful.
So here's the big story in the survey. Last year was bad—but for independents, not that bad. This part of the financial universe is doing fairly well, considering, and is positioned to thrive in the future. One thing everyone will have to do, though, is reset their expectations.
For 99% of working Americans, it's futile to think of our current financial condition in the context of the returns we felt entitled to a couple of years ago. Much wealth is gone. But so much remains, along with the potential to build more.
After a very, very dramatic year, perhaps it's time to hit the reset button on all our expectations, stop mourning losses and see what we can do. Clients are hungry for good solutions. Do you have what they need?
Marion Asnes became the editor of Financial Planning magazine in 2005. Financial Planning is the leading professional magazine for independent financial planners and has a circulation of 115,000. The topics covered on its pages range from industry news and trends to sophisticated discussions of portfolio management, estate planning and philanthropy. Asnes is the first female editor in chief of Financial Planning in the magazine's 38-year history. Before joining Financial Planning, Asnes was a senior editor at Money, participating in the magazines coverage of personal finance, retirement, investment and health care issues. Her areas of expertise included retirement and 401(k) planning, asset allocation, estate planning and the particular financial challenges faced by women. In addition to her regular editorial duties at Money, Asnes co-edited Money for Women, an annual special issue that was featured exclusively on The Today Show on NBC. A 27-year service journalism veteran, Asnes has contributed to a long list of national publications including Vogue, Elle, Glamour, Good Housekeeping, More, Mirabella, Working Woman and Lear's. She has spoken at conferences and symposia ranging from the National Endowment for Financial Educations Retirement Summit to the National Football Leagues Rookie Symposium. In addition, Asnes has appeared on national television programs as an expert on financial and economic topics including CNN, CNN Headline News, NBC's Today, ABC's 20/20, PBS's NewsHour with Jim Lehrer and Fox News' The O'Reilly Factor. Asnes graduated with a B.A. from Cornell University.
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