The financial advisor industry has expanded its share of bond deals advised over the last 13 years. Simultaneously, the top-10 firms’ share of the FA business has gone up and down and up again, but in the long term seems generally to be increasing.

In 1999, 57.2% of all bond issues by par value had a financial advisor involved. That number had risen to 75.5% of all issues in 2011.

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