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Financial Advisors Research Report Series
An Initial Overview
of the Consulting Industry:
Defining Good Business Advice
July 2009
TABLE OF CONTENTS
INTRODUCTION, KEY FINDINGS, & EXECUTIVE SUMMARY....................................27
A SYNOPSIS OF FINANCIAL SERVICES INDUSTRY INVESTMENT OPPORTUNITIES
......................................................................................................................................43
EVOLUTION OF THE CONSULTING BUSINESS ........................................................48
Market History ............................................................................................................................ 48
Emergence Phase.................................................................................................................. 48
Early Growth Phase ............................................................................................................... 50
Troubled & Retrenchment Phase ........................................................................................... 54
Renewed Growth & Maturation Phase................................................................................... 59
Market Definition ........................................................................................................................ 59
Strategy Consulting ................................................................................................................ 59
Sales & Marketing Consulting ................................................................................................ 59
Organizational Effectiveness Consulting................................................................................ 59
Operations & Technology Consulting..................................................................................... 59
Other Consulting .................................................................................................................... 59
Market Growth............................................................................................................................ 59
Consulting Firms .................................................................................................................... 60
Consulting Firm Offices .......................................................................................................... 60
Consulting Firm Employees ................................................................................................... 60
Consulting Firm Partners........................................................................................................ 60
Consulting Firm Partners per Employee ................................................................................ 60
Consulting Firm Consultants .................................................................................................. 60
Consulting Firm Clients .......................................................................................................... 60
Consulting Firm Clients per Consultants................................................................................ 61
Consulting Firm Projects ........................................................................................................ 61
Consulting Firm Revenues ..................................................................................................... 61
Consulting Firm Revenues per Employee.............................................................................. 61
Consulting Firm Revenues per Consultant ............................................................................ 61
Consulting Firm Revenues per Partner .................................................................................. 61
Consulting Firm Profits ........................................................................................................... 62
Consulting Firm Profits per Employee.................................................................................... 62
Consulting Firm Profits per Consultant .................................................................................. 62
Consulting Firm Profits per Partner ........................................................................................ 62
Leading Consulting Firms .......................................................................................................... 62
Consulting Firm Offices .......................................................................................................... 62
Consulting Firm Employees ................................................................................................... 63
Consulting Firm Partners........................................................................................................ 63
Consulting Firm Consultants .................................................................................................. 63
Consulting Firm Clients .......................................................................................................... 64
Consulting Firm Projects ........................................................................................................ 64
Consulting Firm Revenues ..................................................................................................... 64
Consulting Firm Profits ........................................................................................................... 65
Consulting Employee Choices ............................................................................................... 65
MARKET SEGMENTATION..........................................................................................68
Strategy Consulting.................................................................................................................... 68
Sales & Marketing Consulting.................................................................................................... 70
Organizational Effectiveness Consulting ................................................................................... 70
Operations & Technology Consulting ........................................................................................ 70
Other Consulting ........................................................................................................................ 71
APPENDIX....................................................................................................................79
Profiles of Consulting Firms ....................................................................................................... 79
Academy of Financial Services & Precision Marketing Partners ........................................... 79
History................................................................................................................................. 79
Statistics.............................................................................................................................. 79
Businesses.......................................................................................................................... 79
Academy of Financial Services ................................................................................... 80
Precision Marketing Partners ...................................................................................... 80
Organization & Ownership.................................................................................................. 80
Accenture ............................................................................................................................... 80
History................................................................................................................................. 80
Statistics.............................................................................................................................. 81
Businesses.......................................................................................................................... 81
Consulting.................................................................................................................... 81
Technology .................................................................................................................. 82
Outsourcing ................................................................................................................. 82
Organization & Ownership.................................................................................................. 82
Achieve Global ....................................................................................................................... 82
History................................................................................................................................. 82
Statistics.............................................................................................................................. 83
Businesses.......................................................................................................................... 83
Organization & Ownership.................................................................................................. 83
ACS ........................................................................................................................................ 83
History................................................................................................................................. 83
Businesses.......................................................................................................................... 83
Buck Consultants......................................................................................................... 83
Organization & Ownership.................................................................................................. 84
Advisor Impact........................................................................................................................ 84
History................................................................................................................................. 84
Statistics.............................................................................................................................. 84
Businesses.......................................................................................................................... 84
Organization & Ownership.................................................................................................. 84
Advisory Board ....................................................................................................................... 85
History................................................................................................................................. 85
Statistics.............................................................................................................................. 85
Businesses.......................................................................................................................... 85
Organization & Ownership.................................................................................................. 85
Alix Partners ........................................................................................................................... 85
History................................................................................................................................. 85
Statistics.............................................................................................................................. 86
Businesses.......................................................................................................................... 86
Organization & Ownership.................................................................................................. 86
Alvarez & Marsal .................................................................................................................... 86
History................................................................................................................................. 86
Statistics.............................................................................................................................. 87
Businesses.......................................................................................................................... 87
Organization & Ownership.................................................................................................. 87
AM Best .................................................................................................................................. 87
History................................................................................................................................. 87
Statistics.............................................................................................................................. 87
Businesses.......................................................................................................................... 87
Organization & Ownership.................................................................................................. 87
American Business Visions .................................................................................................... 87
History................................................................................................................................. 88
Statistics.............................................................................................................................. 88
Businesses.......................................................................................................................... 88
Organization & Ownership.................................................................................................. 89
American Management Systems ........................................................................................... 89
History................................................................................................................................. 89
Statistics.............................................................................................................................. 90
Businesses.......................................................................................................................... 90
Organization & Ownership.................................................................................................. 90
Answerthink ............................................................................................................................ 90
History................................................................................................................................. 90
Statistics.............................................................................................................................. 90
Businesses.......................................................................................................................... 90
Organization & Ownership.................................................................................................. 91
Arc Partners............................................................................................................................ 91
History................................................................................................................................. 91
Statistics.............................................................................................................................. 91
Businesses.......................................................................................................................... 91
Management Consulting.............................................................................................. 91
Technology Solutions .................................................................................................. 92
Organization & Ownership.................................................................................................. 92
Artemis Communications ....................................................................................................... 92
History................................................................................................................................. 92
Businesses.......................................................................................................................... 92
Consulting.................................................................................................................... 92
Organization & Ownership.................................................................................................. 92
Arthur Little ............................................................................................................................. 93
History................................................................................................................................. 93
Businesses.......................................................................................................................... 93
Consulting.................................................................................................................... 93
Organization & Ownership.................................................................................................. 93
Asset International.................................................................................................................. 93
History................................................................................................................................. 93
Businesses.......................................................................................................................... 93
Strategic Insight........................................................................................................... 94
Organization & Ownership.................................................................................................. 98
AT Kearney............................................................................................................................. 98
History................................................................................................................................. 98
Statistics.............................................................................................................................. 99
Businesses........................................................................................................................ 100
Management Consulting............................................................................................ 100
Organization & Ownership................................................................................................ 100
History............................................................................................................................... 155
Statistics............................................................................................................................ 155
Businesses........................................................................................................................ 156
Organization & Ownership................................................................................................ 156
Callan Associates ................................................................................................................. 156
History............................................................................................................................... 156
Businesses........................................................................................................................ 156
Fund Sponsor Consulting .......................................................................................... 156
Organization & Ownership................................................................................................ 157
Cambridge Associates ......................................................................................................... 157
History............................................................................................................................... 157
Businesses........................................................................................................................ 157
Consulting.................................................................................................................. 158
Organization & Ownership................................................................................................ 158
Canning & Company ............................................................................................................ 158
History............................................................................................................................... 158
Statistics............................................................................................................................ 158
Businesses........................................................................................................................ 158
Organization & Ownership................................................................................................ 158
Cannon Financial Institute.................................................................................................... 159
History............................................................................................................................... 159
Statistics............................................................................................................................ 159
Businesses........................................................................................................................ 159
Organization & Ownership................................................................................................ 159
Capgemini ............................................................................................................................ 159
History............................................................................................................................... 159
Statistics............................................................................................................................ 161
Businesses........................................................................................................................ 161
Organization & Ownership................................................................................................ 161
Capital Market Consultants .................................................................................................. 162
History............................................................................................................................... 162
Statistics............................................................................................................................ 162
Businesses........................................................................................................................ 162
Open Architecture Investment Management............................................................. 162
Organization & Ownership................................................................................................ 163
Capital Market Risk Advisors ............................................................................................... 163
History............................................................................................................................... 163
Businesses........................................................................................................................ 163
Consulting.................................................................................................................. 163
Organization & Ownership................................................................................................ 163
Capital Markets Company .................................................................................................... 163
History............................................................................................................................... 163
Statistics............................................................................................................................ 164
Businesses........................................................................................................................ 164
Organization & Ownership................................................................................................ 164
Capital Resource Advisors ................................................................................................... 164
History............................................................................................................................... 164
Statistics............................................................................................................................ 165
Businesses........................................................................................................................ 165
Investment Solutions ................................................................................................. 165
Organization & Ownership................................................................................................ 165
Casey, Quirk, & Associates.................................................................................................. 166
History............................................................................................................................... 166
Statistics............................................................................................................................ 167
Businesses........................................................................................................................ 167
Organization & Ownership................................................................................................ 169
Consulting.................................................................................................................. 181
Organization & Ownership................................................................................................ 181
Computer Associates ........................................................................................................... 181
History............................................................................................................................... 181
Statistics............................................................................................................................ 182
Businesses........................................................................................................................ 182
Organization & Ownership................................................................................................ 182
Computer Sciences Corporation .......................................................................................... 182
History............................................................................................................................... 182
Businesses........................................................................................................................ 182
Management Consulting............................................................................................ 183
First Consulting Group............................................................................................... 183
Organization & Ownership................................................................................................ 183
Conning & Company ............................................................................................................ 183
History............................................................................................................................... 183
Statistics............................................................................................................................ 184
Businesses........................................................................................................................ 184
Organization & Ownership................................................................................................ 184
Conversus Group ................................................................................................................. 184
History............................................................................................................................... 184
Statistics............................................................................................................................ 184
Businesses........................................................................................................................ 184
Organization & Ownership................................................................................................ 184
Credibility Marketing............................................................................................................. 185
History............................................................................................................................... 185
Statistics............................................................................................................................ 185
Businesses........................................................................................................................ 185
Organization & Ownership................................................................................................ 185
DA Consulting Group ........................................................................................................... 185
History............................................................................................................................... 185
Statistics............................................................................................................................ 186
Businesses........................................................................................................................ 186
Organization & Ownership................................................................................................ 186
DAK Associates.................................................................................................................... 186
History............................................................................................................................... 186
Statistics............................................................................................................................ 186
Businesses........................................................................................................................ 186
Consulting.................................................................................................................. 186
Organization & Ownership................................................................................................ 186
Dalbar ................................................................................................................................... 187
History............................................................................................................................... 187
Statistics............................................................................................................................ 187
Businesses........................................................................................................................ 187
Organization & Ownership................................................................................................ 187
Daniel Coleman .................................................................................................................... 187
History............................................................................................................................... 187
Statistics............................................................................................................................ 188
Businesses........................................................................................................................ 188
Organization & Ownership................................................................................................ 188
Dan Richards........................................................................................................................ 188
History............................................................................................................................... 188
Statistics............................................................................................................................ 188
Businesses........................................................................................................................ 189
Organization & Ownership................................................................................................ 189
Deloitte Touche Tohmatsu ................................................................................................... 189
History............................................................................................................................... 189
Businesses........................................................................................................................ 189
Deloitte Consulting .................................................................................................... 189
Organization & Ownership................................................................................................ 189
Delta Consulting Group ........................................................................................................ 190
History............................................................................................................................... 190
Statistics............................................................................................................................ 190
Businesses........................................................................................................................ 190
Organization & Ownership................................................................................................ 190
DeMarche Associates .......................................................................................................... 190
History............................................................................................................................... 190
Businesses........................................................................................................................ 191
Consulting.................................................................................................................. 191
Organization & Ownership................................................................................................ 191
Diamond Consulting ............................................................................................................. 191
History............................................................................................................................... 191
Statistics............................................................................................................................ 191
Businesses........................................................................................................................ 191
Organization & Ownership................................................................................................ 192
Digital 4 Sight ....................................................................................................................... 192
History............................................................................................................................... 192
Statistics............................................................................................................................ 192
Businesses........................................................................................................................ 193
Organization & Ownership................................................................................................ 193
Eager Consulting .................................................................................................................. 193
History............................................................................................................................... 193
Statistics............................................................................................................................ 193
Businesses........................................................................................................................ 193
Organization & Ownership................................................................................................ 193
Edelman Public Relations Worldwide .................................................................................. 193
History............................................................................................................................... 193
Businesses........................................................................................................................ 194
Consulting.................................................................................................................. 194
Organization & Ownership................................................................................................ 194
Edgar, Dunn, & Company .................................................................................................... 194
History............................................................................................................................... 194
Statistics............................................................................................................................ 194
Businesses........................................................................................................................ 194
Organization & Ownership................................................................................................ 195
Efficient Frontiers ................................................................................................................. 195
History............................................................................................................................... 195
Statistics............................................................................................................................ 195
Businesses........................................................................................................................ 195
Organization & Ownership................................................................................................ 195
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EMC .................................................................................................................................... 196
History............................................................................................................................... 196
Statistics............................................................................................................................ 196
Businesses........................................................................................................................ 196
Organization & Ownership................................................................................................ 196
E-Myth Academy .................................................................................................................. 196
History............................................................................................................................... 196
Statistics............................................................................................................................ 197
Businesses........................................................................................................................ 197
Organization & Ownership................................................................................................ 197
Ennis, Knupp, & Associates ................................................................................................. 197
History............................................................................................................................... 197
Businesses........................................................................................................................ 197
10
Consulting.................................................................................................................. 197
Organization & Ownership................................................................................................ 197
Ernst & Young ...................................................................................................................... 198
History............................................................................................................................... 198
Businesses........................................................................................................................ 198
Financial Consulting .................................................................................................. 198
Organization & Ownership................................................................................................ 198
Ethos Consulting .................................................................................................................. 198
History............................................................................................................................... 198
Statistics............................................................................................................................ 199
Businesses........................................................................................................................ 199
Consulting.................................................................................................................. 199
Organization & Ownership................................................................................................ 199
Eureka Ranch....................................................................................................................... 199
History............................................................................................................................... 199
Statistics............................................................................................................................ 199
Businesses........................................................................................................................ 199
Organization & Ownership................................................................................................ 200
EVA ...................................................................................................................................... 200
History............................................................................................................................... 200
Statistics............................................................................................................................ 200
Businesses........................................................................................................................ 200
Organization & Ownership................................................................................................ 200
Financial Information Group ................................................................................................. 200
History............................................................................................................................... 201
Statistics............................................................................................................................ 201
Businesses........................................................................................................................ 201
Organization & Ownership................................................................................................ 201
Financial Insights.................................................................................................................. 201
History............................................................................................................................... 201
Statistics............................................................................................................................ 202
Businesses........................................................................................................................ 202
Organization & Ownership................................................................................................ 202
Financial Technology Partners............................................................................................. 202
History............................................................................................................................... 202
Businesses........................................................................................................................ 202
Consulting.................................................................................................................. 202
Organization & Ownership................................................................................................ 202
First Manhattan Consulting Group ....................................................................................... 203
History............................................................................................................................... 203
Statistics............................................................................................................................ 203
Businesses........................................................................................................................ 203
Organization & Ownership................................................................................................ 203
Fitch Group........................................................................................................................... 203
History............................................................................................................................... 204
Statistics............................................................................................................................ 204
Businesses........................................................................................................................ 204
Organization & Ownership................................................................................................ 204
Focus Consulting Group....................................................................................................... 204
History............................................................................................................................... 204
Statistics............................................................................................................................ 204
Businesses........................................................................................................................ 204
Management Offsites ................................................................................................ 204
Conference Speeches ............................................................................................... 205
Books......................................................................................................................... 205
11
12
13
14
Businesses........................................................................................................................ 249
Organization & Ownership................................................................................................ 250
Jeffrey Gitomer ..................................................................................................................... 250
History............................................................................................................................... 250
Statistics............................................................................................................................ 251
Businesses........................................................................................................................ 251
Organization & Ownership................................................................................................ 251
Jim Collins ............................................................................................................................ 251
History............................................................................................................................... 251
Statistics............................................................................................................................ 251
Businesses........................................................................................................................ 251
Organization & Ownership................................................................................................ 251
Jordan & Jordan ................................................................................................................... 252
History............................................................................................................................... 252
Statistics............................................................................................................................ 252
Businesses........................................................................................................................ 252
Organization & Ownership................................................................................................ 252
Jupiter Research .................................................................................................................. 253
History............................................................................................................................... 253
Statistics............................................................................................................................ 253
Businesses........................................................................................................................ 253
Organization & Ownership................................................................................................ 253
Kasina................................................................................................................................... 253
History............................................................................................................................... 253
Statistics............................................................................................................................ 254
Businesses........................................................................................................................ 254
Organization & Ownership................................................................................................ 254
Klein Decisions ..................................................................................................................... 254
History............................................................................................................................... 254
Statistics............................................................................................................................ 255
Businesses........................................................................................................................ 255
Organization & Ownership................................................................................................ 255
Korn Ferry International........................................................................................................ 255
History............................................................................................................................... 255
Statistics............................................................................................................................ 255
Businesses........................................................................................................................ 255
Organization & Ownership................................................................................................ 255
KPMG ................................................................................................................................... 256
History............................................................................................................................... 256
Businesses........................................................................................................................ 256
Advisory Services ...................................................................................................... 256
Organization & Ownership................................................................................................ 256
Kurt Salmon Associates ....................................................................................................... 257
History............................................................................................................................... 257
Statistics............................................................................................................................ 257
Businesses........................................................................................................................ 257
KSA Healthcare ......................................................................................................... 257
Global Products & Retail ........................................................................................... 257
Organization & Ownership................................................................................................ 258
Leaffer Shapiro ..................................................................................................................... 258
History............................................................................................................................... 258
Statistics............................................................................................................................ 258
Businesses........................................................................................................................ 258
Organization & Ownership................................................................................................ 261
LEK Consulting..................................................................................................................... 262
History............................................................................................................................... 262
15
Statistics............................................................................................................................ 262
Businesses........................................................................................................................ 262
Organization & Ownership................................................................................................ 262
Manchester........................................................................................................................... 263
History............................................................................................................................... 263
Statistics............................................................................................................................ 263
Businesses........................................................................................................................ 263
Organization & Ownership................................................................................................ 263
Marakon Associates ............................................................................................................. 263
History............................................................................................................................... 264
Statistics............................................................................................................................ 264
Businesses........................................................................................................................ 265
Organization & Ownership................................................................................................ 265
March First............................................................................................................................ 265
History............................................................................................................................... 265
Statistics............................................................................................................................ 266
Businesses........................................................................................................................ 266
Organization & Ownership................................................................................................ 266
Mars & Company.................................................................................................................. 266
History............................................................................................................................... 266
Statistics............................................................................................................................ 266
Businesses........................................................................................................................ 266
Organization & Ownership................................................................................................ 267
Marsh & McLennan .............................................................................................................. 267
History............................................................................................................................... 267
Businesses........................................................................................................................ 267
Oliver Wyman ............................................................................................................ 267
Organization & Ownership................................................................................................ 267
Matrix.................................................................................................................................... 268
History............................................................................................................................... 268
Statistics............................................................................................................................ 268
Businesses........................................................................................................................ 268
Organization & Ownership................................................................................................ 268
Matrix Financial Solutions .................................................................................................... 268
History............................................................................................................................... 268
Businesses........................................................................................................................ 269
Prima Capital Holding................................................................................................ 269
Organization & Ownership................................................................................................ 277
McColl Partners .................................................................................................................... 278
History............................................................................................................................... 278
Businesses........................................................................................................................ 278
Strategic Advising...................................................................................................... 278
Organization & Ownership................................................................................................ 278
McKinsey & Company .......................................................................................................... 278
History............................................................................................................................... 278
Statistics............................................................................................................................ 281
Businesses........................................................................................................................ 283
Strategy ..................................................................................................................... 283
Corporate Finance..................................................................................................... 284
Marketing & Sales ..................................................................................................... 284
Operations ................................................................................................................. 285
Business Technology ................................................................................................ 285
Organizational Practice Services .............................................................................. 285
Organization & Ownership................................................................................................ 287
Michael Porter ...................................................................................................................... 291
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History............................................................................................................................... 291
Statistics............................................................................................................................ 291
Businesses........................................................................................................................ 291
Organization & Ownership................................................................................................ 291
Milliman Global ..................................................................................................................... 291
History............................................................................................................................... 291
Statistics............................................................................................................................ 292
Businesses........................................................................................................................ 292
Evaluation Associates ............................................................................................... 292
Organization & Ownership................................................................................................ 292
Mitchell Advisers .................................................................................................................. 292
History............................................................................................................................... 292
Statistics............................................................................................................................ 293
Businesses........................................................................................................................ 293
Strategic & Financial Adviser .................................................................................... 293
Organization & Ownership................................................................................................ 293
Mitsubishi UFJ Financial Group (Morgan Stanley)............................................................... 294
History............................................................................................................................... 294
Businesses........................................................................................................................ 294
Barra .......................................................................................................................... 294
Organization & Ownership................................................................................................ 294
Monitor Group ...................................................................................................................... 295
History............................................................................................................................... 295
Statistics............................................................................................................................ 295
Businesses........................................................................................................................ 296
Grail Research........................................................................................................... 296
Organization & Ownership................................................................................................ 296
Monticello Associates........................................................................................................... 296
History............................................................................................................................... 296
Businesses........................................................................................................................ 296
Consulting.................................................................................................................. 296
Organization & Ownership................................................................................................ 296
Moodys ................................................................................................................................ 297
History............................................................................................................................... 297
Statistics............................................................................................................................ 297
Businesses........................................................................................................................ 297
KMV ........................................................................................................................... 297
Organization & Ownership................................................................................................ 297
Morningstar........................................................................................................................... 297
History............................................................................................................................... 297
Businesses........................................................................................................................ 297
Ibbotson Associates .................................................................................................. 298
Organization & Ownership................................................................................................ 298
Moss Adams......................................................................................................................... 299
History............................................................................................................................... 299
Businesses........................................................................................................................ 299
ITS Moss Adams ....................................................................................................... 299
Organization & Ownership................................................................................................ 299
N2Growth ............................................................................................................................. 300
History............................................................................................................................... 300
Statistics............................................................................................................................ 300
Businesses........................................................................................................................ 300
Organization & Ownership................................................................................................ 300
Nancy Koehn ........................................................................................................................ 300
History............................................................................................................................... 300
17
Statistics............................................................................................................................ 301
Businesses........................................................................................................................ 301
Organization & Ownership................................................................................................ 301
Navigant Consulting ............................................................................................................. 301
History............................................................................................................................... 301
Statistics............................................................................................................................ 302
Businesses........................................................................................................................ 302
Organization & Ownership................................................................................................ 302
NFO Worldwide .................................................................................................................... 302
History............................................................................................................................... 302
Statistics............................................................................................................................ 302
Businesses........................................................................................................................ 302
Spectrem Group ........................................................................................................ 302
Organization & Ownership................................................................................................ 306
Nick Murray .......................................................................................................................... 306
History............................................................................................................................... 306
Statistics............................................................................................................................ 307
Businesses........................................................................................................................ 307
Organization & Ownership................................................................................................ 307
Nielsen.................................................................................................................................. 307
History............................................................................................................................... 307
Statistics............................................................................................................................ 307
Businesses........................................................................................................................ 307
Organization & Ownership................................................................................................ 307
Noel Tichy............................................................................................................................. 308
History............................................................................................................................... 308
Statistics............................................................................................................................ 308
Businesses........................................................................................................................ 308
Organization & Ownership................................................................................................ 308
Northwestern Mutual ............................................................................................................ 308
History............................................................................................................................... 309
Businesses........................................................................................................................ 309
Russell Investment Group ......................................................................................... 309
Organization & Ownership................................................................................................ 322
Novantas .............................................................................................................................. 324
History............................................................................................................................... 324
Statistics............................................................................................................................ 324
Businesses........................................................................................................................ 324
Consulting.................................................................................................................. 325
Organization & Ownership................................................................................................ 325
Novell.................................................................................................................................... 325
History............................................................................................................................... 325
Businesses........................................................................................................................ 325
Cambridge Technology Partners............................................................................... 325
Organization & Ownership................................................................................................ 325
Optima Consulting................................................................................................................ 326
History............................................................................................................................... 326
Statistics............................................................................................................................ 326
Businesses........................................................................................................................ 326
Organization & Ownership................................................................................................ 326
Orbis Marketing .................................................................................................................... 326
History............................................................................................................................... 326
Statistics............................................................................................................................ 327
Businesses........................................................................................................................ 327
Marketing & Advertising Research ............................................................................ 328
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19
History............................................................................................................................... 340
Statistics............................................................................................................................ 340
Businesses........................................................................................................................ 340
Organization & Ownership................................................................................................ 340
Population Council ............................................................................................................... 341
History............................................................................................................................... 341
Statistics............................................................................................................................ 341
Services ............................................................................................................................ 342
HIV & AIDS Research ............................................................................................... 342
Poverty, Gender, & Youth Research ......................................................................... 342
Reproductive Health Research ................................................................................. 342
Organization & Ownership................................................................................................ 342
Price Waterhouse Coopers .................................................................................................. 342
History............................................................................................................................... 342
Businesses........................................................................................................................ 342
Consulting.................................................................................................................. 343
Organization & Ownership................................................................................................ 343
Professional Accounting Sales............................................................................................. 343
History............................................................................................................................... 343
Statistics............................................................................................................................ 343
Businesses........................................................................................................................ 343
Organization & Ownership................................................................................................ 345
Proudfoot Consulting............................................................................................................ 345
History............................................................................................................................... 345
Statistics............................................................................................................................ 345
Businesses........................................................................................................................ 346
Organization & Ownership................................................................................................ 346
Publicis Groupe .................................................................................................................... 346
History............................................................................................................................... 346
Statistics............................................................................................................................ 346
Businesses........................................................................................................................ 346
Razorfish ................................................................................................................... 346
Organization & Ownership................................................................................................ 348
Pusateri Consulting & Training............................................................................................. 349
History............................................................................................................................... 349
Statistics............................................................................................................................ 349
Businesses........................................................................................................................ 349
Organization & Ownership................................................................................................ 349
RB Webber & Company ....................................................................................................... 349
History............................................................................................................................... 350
Statistics............................................................................................................................ 350
Businesses........................................................................................................................ 350
Organization & Ownership................................................................................................ 350
Reagan Consulting............................................................................................................... 350
History............................................................................................................................... 351
Statistics............................................................................................................................ 351
Businesses........................................................................................................................ 351
Organization & Ownership................................................................................................ 351
Regroup................................................................................................................................ 351
History............................................................................................................................... 351
Statistics............................................................................................................................ 352
Businesses........................................................................................................................ 352
Business Consulting .................................................................................................. 352
Compliance................................................................................................................ 352
Technology ................................................................................................................ 352
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Businesses........................................................................................................................ 362
Organization & Ownership................................................................................................ 362
Scient.................................................................................................................................... 362
History............................................................................................................................... 362
Statistics............................................................................................................................ 362
Businesses........................................................................................................................ 362
Organization & Ownership................................................................................................ 362
Segal Advisors ..................................................................................................................... 363
History............................................................................................................................... 363
Businesses........................................................................................................................ 363
Consulting.................................................................................................................. 363
Organization & Ownership................................................................................................ 363
SFM Consulting .................................................................................................................... 363
History............................................................................................................................... 363
Statistics............................................................................................................................ 364
Businesses........................................................................................................................ 364
Organization & Ownership................................................................................................ 364
Shannahan & Company ....................................................................................................... 364
History............................................................................................................................... 364
Statistics............................................................................................................................ 364
Businesses........................................................................................................................ 365
Organization & Ownership................................................................................................ 365
Sincere & Company ............................................................................................................. 365
History............................................................................................................................... 365
Statistics............................................................................................................................ 365
Businesses........................................................................................................................ 365
Organization & Ownership................................................................................................ 365
Spencer Stuart ..................................................................................................................... 366
History............................................................................................................................... 366
Statistics............................................................................................................................ 366
Businesses........................................................................................................................ 366
Organization & Ownership................................................................................................ 366
SRI International................................................................................................................... 366
History............................................................................................................................... 367
Statistics............................................................................................................................ 368
Businesses........................................................................................................................ 368
Engineering & Systems ............................................................................................. 368
Policy ......................................................................................................................... 368
Information & Computing Sciences ........................................................................... 368
Biosciences ............................................................................................................... 368
Physical Sciences...................................................................................................... 369
Organization & Ownership................................................................................................ 374
Stephen Covey (Franklin Covey Company)......................................................................... 374
History............................................................................................................................... 374
Statistics............................................................................................................................ 375
Businesses........................................................................................................................ 375
Organization & Ownership................................................................................................ 375
Stern, Stewart, & Company.................................................................................................. 375
History............................................................................................................................... 375
Statistics............................................................................................................................ 375
Businesses........................................................................................................................ 376
Organization & Ownership................................................................................................ 376
Strategic Coach .................................................................................................................... 376
History............................................................................................................................... 376
Statistics............................................................................................................................ 376
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Businesses........................................................................................................................ 376
Organization & Ownership................................................................................................ 377
Strategic Execution Group ................................................................................................... 377
History............................................................................................................................... 377
Statistics............................................................................................................................ 377
Businesses........................................................................................................................ 377
Strategic Positioning.................................................................................................. 377
Restructuring Support................................................................................................ 377
Crisis Communications.............................................................................................. 378
Mergers & Acquisitions Communications.................................................................. 378
Research ................................................................................................................... 378
Organization & Ownership................................................................................................ 378
Strategix Performance.......................................................................................................... 378
History............................................................................................................................... 378
Statistics............................................................................................................................ 378
Businesses........................................................................................................................ 378
Organization & Ownership................................................................................................ 378
Strategos (Gary Hamel) ....................................................................................................... 379
History............................................................................................................................... 379
Statistics............................................................................................................................ 379
Businesses........................................................................................................................ 379
Organization & Ownership................................................................................................ 379
Success Profiles ................................................................................................................... 379
History............................................................................................................................... 379
Statistics............................................................................................................................ 380
Businesses........................................................................................................................ 380
Organization & Ownership................................................................................................ 380
Sun Star................................................................................................................................ 380
History............................................................................................................................... 380
Statistics............................................................................................................................ 381
Businesses........................................................................................................................ 381
Organization & Ownership................................................................................................ 382
Symmetrix............................................................................................................................. 382
History............................................................................................................................... 382
Statistics............................................................................................................................ 383
Businesses........................................................................................................................ 383
Organization & Ownership................................................................................................ 383
Syntaxis ................................................................................................................................ 383
History............................................................................................................................... 383
Businesses........................................................................................................................ 383
Consulting.................................................................................................................. 383
Organization & Ownership................................................................................................ 383
The Brookings Institute......................................................................................................... 384
History............................................................................................................................... 384
Statistics............................................................................................................................ 384
Services ............................................................................................................................ 384
Organization & Ownership................................................................................................ 385
The Conference Board ......................................................................................................... 385
History............................................................................................................................... 385
Statistics............................................................................................................................ 385
Businesses........................................................................................................................ 386
Organization & Ownership................................................................................................ 386
The Gallup Organization ...................................................................................................... 386
History............................................................................................................................... 386
Statistics............................................................................................................................ 386
23
Businesses........................................................................................................................ 386
Organization & Ownership................................................................................................ 386
The Hayden Group............................................................................................................... 387
History............................................................................................................................... 387
Statistics............................................................................................................................ 387
Businesses........................................................................................................................ 387
Organization & Ownership................................................................................................ 387
The McHenry Group............................................................................................................. 387
History............................................................................................................................... 388
Statistics............................................................................................................................ 388
Businesses........................................................................................................................ 388
Organization & Ownership................................................................................................ 389
The Parthenon Group........................................................................................................... 389
History............................................................................................................................... 389
Statistics............................................................................................................................ 389
Businesses........................................................................................................................ 389
Organization & Ownership................................................................................................ 389
Thomson Management Solutions ........................................................................................ 390
History............................................................................................................................... 390
Statistics............................................................................................................................ 390
Businesses........................................................................................................................ 390
Organization & Ownership................................................................................................ 390
Thomson Reuters ................................................................................................................. 390
History............................................................................................................................... 391
Businesses........................................................................................................................ 391
Lipper......................................................................................................................... 391
Organization & Ownership................................................................................................ 391
Tiburon Strategic Advisors ................................................................................................... 392
History............................................................................................................................... 392
Statistics............................................................................................................................ 393
Businesses........................................................................................................................ 393
Organization & Ownership................................................................................................ 395
Tom Peters Group ................................................................................................................ 395
History............................................................................................................................... 395
Statistics............................................................................................................................ 396
Businesses........................................................................................................................ 396
Organization & Ownership................................................................................................ 396
Tom Stanley ......................................................................................................................... 396
History............................................................................................................................... 396
Statistics............................................................................................................................ 396
Businesses........................................................................................................................ 397
Organization & Ownership................................................................................................ 397
Tower Group......................................................................................................................... 397
History............................................................................................................................... 397
Statistics............................................................................................................................ 397
Businesses........................................................................................................................ 397
Organization & Ownership................................................................................................ 397
Towers Watson & Company................................................................................................. 398
History............................................................................................................................... 398
Statistics............................................................................................................................ 398
Businesses........................................................................................................................ 398
Towers Perrin ............................................................................................................ 398
Watson Wyatt Worldwide .......................................................................................... 400
Organization & Ownership................................................................................................ 401
Townsend & Schupp ............................................................................................................ 401
History............................................................................................................................... 401
24
Statistics............................................................................................................................ 402
Businesses........................................................................................................................ 402
Organization & Ownership................................................................................................ 402
T-Systems ............................................................................................................................ 402
History............................................................................................................................... 402
Statistics............................................................................................................................ 403
Businesses........................................................................................................................ 403
Organization & Ownership................................................................................................ 403
Turning Point ........................................................................................................................ 403
History............................................................................................................................... 403
Statistics............................................................................................................................ 404
Businesses........................................................................................................................ 404
Executive Search....................................................................................................... 404
Registered Representative Placement...................................................................... 408
Organization & Ownership................................................................................................ 414
Unisys................................................................................................................................... 414
History............................................................................................................................... 414
Businesses........................................................................................................................ 414
Consulting.................................................................................................................. 414
Organization & Ownership................................................................................................ 414
Urban Institute ...................................................................................................................... 414
History............................................................................................................................... 414
Statistics............................................................................................................................ 415
Businesses........................................................................................................................ 415
Organization & Ownership................................................................................................ 415
US Web ................................................................................................................................ 415
History............................................................................................................................... 415
Statistics............................................................................................................................ 416
Businesses........................................................................................................................ 416
Mitchell Madison Group............................................................................................. 416
Organization & Ownership................................................................................................ 416
Warren Bennis...................................................................................................................... 416
History............................................................................................................................... 416
Statistics............................................................................................................................ 417
Businesses........................................................................................................................ 417
Organization & Ownership................................................................................................ 417
WE Deming .......................................................................................................................... 417
History............................................................................................................................... 417
Statistics............................................................................................................................ 417
Businesses........................................................................................................................ 418
Organization & Ownership................................................................................................ 418
Weiss Group......................................................................................................................... 418
History............................................................................................................................... 418
Statistics............................................................................................................................ 418
Businesses........................................................................................................................ 418
Organization & Ownership................................................................................................ 418
Wilshire Associates .............................................................................................................. 419
History............................................................................................................................... 419
Statistics............................................................................................................................ 419
Businesses........................................................................................................................ 419
Organization & Ownership................................................................................................ 419
25
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prohibited without the written consent of Tiburon Strategic Advisors, LLC
26
27
Seek out research & analyst reports to compare and further develop findings
Solicit opinions from Tiburons executive program members
Interview industry participants to confirm or revise findings
Tiburon will update this report in three-to-six months depending on the evolution of the
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observers that can help further explain the conclusions.
Target Markets
The goal of this report was to simplify a wide variety of data on a widely discussed issue.
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apologizes and will seek to correct them in subsequent drafts.
Three separate audiences should find this report helpful. If you are an executive at an
investment management firm or insurance company (such as a mutual funds or
annuities firm), this report should be helpful in understanding how broad market
developments may impact the future of your products & services. The report offers a
comprehensive overview of this issue, with a view on both institutional and individual
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If instead you are an executive at a distribution company (such as a bank or brokerage
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should offer a macro context in
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and consider this aspect of your
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thoughts will assist you in
delivering better advice to your
clients
and
running
your
business more efficiently.
The 1980s & 1990s Brought Numerous Consulting Firm Acquisitions, Including Marsh &
McClennans Acquisition of Temple, Barker, & Sloane and the Leveraged Buyout of Arthur Little
$ 2 01.0
$ 188. 0
M a na g eme n t B uy o ut ( Ha y Gr o u p)
$ 85. 0
AP M ( C S C)
$ 74 .0
C ap Ge m in i S o ge t i ( M AC Gr o u p)
$ 5 2.0
M a r sh & M c Le n n an ( T e m p l e, B ar k e r, & S l oa n e)
$ 43 .0
C S C ( I nd e x Gr o u p)
Key Findings
Below is a list of summary facts
from this report:
$ 34 6.0
E D S ( A T Ke ar n e y)
M an a ge m e n t B uy o ut ( Ar t h ur Li t tl e)
M c Ki n se y & Co mp an y ( I n f o r mat i on C on su lt i n g Gr o u p)
Bo st on C o nsu l t in g G r ou p ( Ca n a da C on su lt i n g Gr o u p)
$ 2 5.0
$ 2 0.0
$ 7 .0
So ur ce: 1 2/0 1 C onsulting Industry R eport; Tibu ro n R esearc h & Analy sis
28
Not Considering
Addin g Staff
75%
55 %
8 2%
8 0%
58 %
64 %
6 0%
5 5%
5 0%
79 %
9%
9%
20 %
6%
6%
1 2%
1 4%
15 %
B o o z A lle n
H a mi l t o n
P it tig li o ,
R a bin,
T odd, &
M c G ra t h
H ew it t
A s s oc ia t e s
Neutral
6%
16 %
9%
1 2%
3 6%
25 %
26 %
A c c e n tu r e
T o we r s
P e rr in
27 %
Wa t s o n
W ya tt
W o r l d wid e
4 1%
2 8%
B os t on
C o n s u l t ing
G ro u p
M o n it o r
Group
M c K i n se y &
C om pa ny
So ur ce: 11/02 C onsu ltants Ne ws; Tiburon Res earch & An alysis
Market Definition
29
Market Growth
This section highlights the
Consulting Firm Revenues
($ Billions)
market growth of the consulting
industry.
$300
There
are
almost
$250
320,000 consulting firms,
$190
up 50% since 2001
There are over five
$120
$80
million consulting firm
employees, up 20%
$30
since 2002
2001
2002
2003
2004
2005
2006
There are over two
million consulting firm
partners,
up
almost
100% since 2001
There are about four million consulting firm consultants, up by about one million
since 2001
The consulting market generates about $300 billion of revenues, up 1,000%
since 2001
The consulting industry generates over $1,300,000 in revenue per partner
So ur ce: 1 /07 Co nsultin g M agazi ne ( Kennedy ); Tibur on Re search & A nalysi s
$10.8
Accentur e
$9.5
$5.9
Deloitte Consulting
$5.6
CSC/Index
$3.6
$3.3
$2.9
$2.7
$2.2
30
Market Segmentation
This section explains the market segmentation of the consulting industry
-Strategy Consulting
This section outlines the strategy consulting segment of consulting industry market
types.
The consulting market generates about $20 billion of strategy consulting
revenues
The length of an average strategy consulting engagement dropped from between
six & eighteen months to just 90 days in the early 2000s as clients focused on
more immediate value
Sales & Marketing Consulting
This section outlines the sales & marketing consulting segment of consulting industry
market types.
-Organizational Effectiveness Consulting
This section outlines the organizational effectiveness consulting segment of consulting
industry market types.
The consulting market generates about $5 billion of organizational effectiveness
consulting revenues
Operations & Technology Consulting
This section outlines the operations & technology consulting segment of consulting
industry market types.
The consulting market generates about $80 billion of operations & technology
consulting revenues
Other Consulting
This section outlines the other consulting segment of consulting industry market types.
-Markets & Distribution Channels
This chapter explains the markets & distribution channels of the consulting industry.
Federal & State Governments
This section outlines the federal & state governments segment of consulting industry
market & distribution channels.
Federal
&
state
The Financial Services Consulting Market Generates $60 Billion in
governments
and
Revenues, Up 65% Since 2004
financial
services
Financial Services Industry
companies are the two
Consulting Firm Revenues
largest
consulting
($ Billions)
markets, accounting for
over two-thirds of all
$60
projects
Financial Services Companies
$36
$39
31
$42
2005
2006
2007
So ur ce: 4 /3/08 Fina nc ia l Ser vices Co ns ulting M ark etplace Re port (Kenned y Inform ation); 1/07 C onsulting Magazine (Kenned y); Tiburon R ese arc h & Analy sis
This section outlines the financial services segment of consulting industry market &
distribution channels.
Financial services companies are the second largest markets & distribution
channels for the consulting industry
The financial services consulting market generates $60 billion in revenues, up
65% since 2004
The financial services consulting market has 36 companies, including AT
Kearney, Accenture, Bain & Company, Booz Allen Hamilton, and McKinsey &
Company
The financial services consulting industry is still highly fragmented with only 17
practices commanding more than 1% market share with the largest practice
having 6.1% market share
Manufacturing Companies
This section outlines the manufacturing companies segment of consulting industry
market & distribution channels.
Manufacturing companies are the third largest markets & distribution channels for
the consulting industry
Retail Companies
This section outlines the retail companies segment of consulting industry market &
distribution channels.
Retail companies are the fourth largest markets & distribution channels for the
consulting industry
Other Companies
This section outlines the other companies segment of consulting industry market &
distribution channels.
-Future Predictions for the Consulting Business
This chapter outlines the future predictions for the consulting industry.
Continual Rapid Growth
This section outlines the likely continual rapid growth of the consulting industry.
The financial services consulting market is predicted to grow from $60 billion in
revenues to $74 billion by 2011, an increase of more than 20%
Increasing Dominance of Strategy Consulting
This section outlines the likely dominance of strategy consulting.
-Increasing Importance of Financial Services Company Clients
This section outlines the likely importance of financial services industry clients.
-Consulting Firms to Expand
This section outlines the likely emergence of industry focused frameworks.
--
32
The 1980s & 1990s Brought Numerous Consulting Firm Acquisitions, Including Marsh &
McClennans Acquisition of Temple, Barker, & Sloane and the Leveraged Buyout of Arthur Little
E D S ( A T Ke ar n e y)
$ 2 01.0
M an a ge m e n t B uy o ut ( Ar t h ur Li t tl e)
$ 85. 0
AP M ( C S C)
$ 74 .0
C ap Ge m in i S o ge t i ( M AC Gr o u p)
$ 5 2.0
M a r sh & M c Le n n an ( T e m p l e, B ar k e r, & S l oa n e)
$ 43 .0
C S C ( I nd e x Gr o u p)
$ 188. 0
M a na g eme n t B uy o ut ( Ha y Gr o u p)
M c Ki n se y & Co mp an y ( I n f o r mat i on C on su lt i n g Gr o u p)
Bo st on C o nsu l t in g G r ou p ( Ca n a da C on su lt i n g Gr o u p)
$ 2 5.0
$ 2 0.0
$ 7 .0
So ur ce: 1 2/0 1 C onsulting Industry R eport; Tibu ro n R esearc h & Analy sis
The 1980s & 1990s brought numerous consulting firm acquisitions, including Marsh &
McClennans acquisition of Temple, Barker, & Sloane and the leveraged buyout of
Arthur Little.
KPMG was founded in 1987. It was founded by Thomson McLintock & Pete Marwick.
Bain & Company laid off almost one-quarter of its workforce in 1996. Specifically, it laid
off 20% of its employees and retained the remaining 80%.
Tiburon Strategic Advisors was founded in 1998 to offer research-based strategy
consulting to financial institutions. Tiburon Strategic Advisors was founded by its
Managing Principal Chip Roame, and is based in Tiburon, CA.
33
Consulting firm scandals also had an impact on the consulting business in the early
2000s, including those of Accenture, Arthur Little, and McKinsey & Company.
Accentures scandal occurred in 2001 due to their relationship with Arthur Andersen.
The consulting industrys reputation declined substantially in the early 2000s, reaching
its lowest level. Consultants became increasingly perceived as an expense instead of
trusted advisors. Consulting industry needed to reposition its employees as perceptive
professionals who earnestly wanted to help. During this time pro bono work was a
possibility.
Some consulting firms increased advertising in the early 2000s.
Consulting firms began employing price breaks as a defensive move to maintain market
share in the early 2000s. Firms offered price breaks to clients if they agreed not to hire
other consulting firms.
Some consulting firms focused more on pro bono activities in the early 2000s.
People Soft launched an advertising campaign in the early 2000s criticizing the billing
structures of consulting firms in the early 2000s. The campaign highlighted the
companys enterprise service
Three-Quarters of Consulting Firms Stopped Hiring in the Early
automation software, which was
2000s
designed
to
manage
the
Consulting Firms
expense of outside contractors,
By Propensity to Be Considering Adding Staff
consultants,
and
temps.
Interestingly, People Soft is very
dependent on consultants to sell
its products. IBM is a strategic
partner.
Co nsider ing
Ad ding Sta ff
25%
Three-quarters of consulting
firms stopped hiring in the early
2000s. Specific ally, 25% of
consulting firms considered
adding staff, while 75% did not
consider adding staff.
Not Considering
Addin g Staff
75%
Strategy consulting firms made capital calls in the early 2000s, including one at
McKinsey & Company. McKinsey instituted a capital call from its 850 existing partners in
2001.
The big four CPA firms restructured their consulting businesses in the early 2000s,
including Deloitte & Touche which spun-off its consulting division.
Deloitte & Touche
Spun off as Deloitte Consulting in 2002
Last Big Four CPA firm to act
Price Waterhouse Coopers
34
Price
Waterhouse
Coopers sold to IBM
KPMG
Spun off as Bearing
Point
55 %
8 2%
58 %
64 %
5 0%
5 5%
6 0%
79 %
8 0%
9%
9%
20 %
6%
6%
1 2%
1 4%
15 %
B o o z A lle n
H a mi l t o n
P it tig li o ,
R a bin,
T odd, &
M c G ra t h
H ew it t
A s s oc ia t e s
Neutral
Low & Very Low
6%
16 %
9%
1 2%
4 1%
3 6%
25 %
26 %
A c c e n tu r e
T o we r s
P e rr in
27 %
Wa t s o n
W ya tt
W o r l d wid e
2 8%
B os t on
C o n s u l t ing
G ro u p
M o n it o r
Group
M c K i n se y &
C om pa ny
Some firms, including Accenture, Towers Perrin, & Boston Consulting Group had very
low morale in the early 2000s.
At the same time, some firms such as Sapient, Towers Perrin, and Booz, Allen, &
Hamilton
had
very
high
Some Firms Such as Sapient, Towers Perrin, and Booz, Allen, & Hamilton Had Very
employee stress levels in the
High Employee Stress Levels in the Early 2000s
early 2000s. Specifically, 49%
Consulting Firms
of Sapient employees reported
Share of Employees Reporting High Stress Levels
high stress levels, while 43 % of
Tower Perrin and 42% of Booz,
44% 43%
42%
Allen, & Hamilton employees
36% 35%
reported high stress levels. In
30% 29% 28% 28%
contrast, significant but lower
percentages of consulting firm
employees reporting high stress
levels occurred at other firms
such as KPMG were reported at
other consulting firms.
Sapient
Towe rs
Perrin
Booz Allen
Ham ilton
KPMG
PWC
AT Kearn ey
Wats on
Wyatt
Firs t
Cons ulting
Group
35
Some consulting firms have consolidated in the form of roll-ups, including Navigant in
the late 2000s.
AT Kearney returned to private ownership after ten years of being a subsidiary of EDS in
2006.
Consulting firms focused on helping clients enter China in 2007, including McKinsey &
Company. The earliest clients were multinational companies. Work in China has grown
at 20%-30% each year.
Hitachi Consulting acquired JMN Associates in 2008 to enter the consulting industry for
banking, real estate, & insurance.
Market Definition
This section outlines the market definition of the consulting industry.
Market Growth
This section highlights the market growth of the consulting industry.
There are almost 320,000 consulting firms, up 50% since 2001. Specifically, in 2001
there were 210,000 consulting firms, 190,000 in 2002, 200,000 in 2003, 260,000 in
2004, 300,000 in 2005, and 320,000 in 2006.
There are over two million consulting firm partners, up almost 100% since 2001.
Specifically, in 2001 there were 1.2 million consulting firm partners, 1.4 million in 2002,
1.6 million in 2003, 1.8 million in 2004, 2.0 million in 2005, and 2.2 million in 2006.
The consulting market generates about $300 billion of revenues, up 1,000% since 2001.
Specifically, in 2001 $30 billion in revenues were generated by consulting firms, $80
billion was generated in 2002, $120 billion in 2003, $190 billion in 2004, $250 billion in
2005, and $300 billion in revenues were generated in 2006.
The consulting industry generates over $1,300,000 in revenue per partner. Specifically it
generated $1,364,000 in 2006, $1,250,000 in 2005, $1,060,000 in 2004, $750,000 in
2003, $570,000 in 2002, and $250,000 revenues per partner in 2001.
The consulting market earns its
participants about $50 billion in
profits, up about 1,000% since
2001.
Specifically, in 2001
consulting firms earned $5
billion in profits, $10 billion in
2002, $20 billion in 2003, $30
billion in 2004, $40 billion in
2005, and $50 billion in 2006.
Leading Consulting Firms
This section highlights the
leading consulting firms across
10.4
Accenture
10.2
6.8
Deloitte Consulting
6.2
CSC/Index
4.6
4.5
3.8
Bearing Point
Mer cer Consulting
3.4
2.2
36
$10.8
Accentur e
$9.5
$5.9
Deloitte Consulting
$5.6
CSC/Index
$3.6
$3.3
$2.9
$2.7
$2.2
Market Segmentation
This chapter explains the market segmentation of the consulting industry.
Strategy Consulting
This section outlines the strategy consulting segment of consulting industry market
types.
37
H igh
High
L ow
Med ium
So ur ce: 1 /21 /05 Tib uron Princip al Ca ndidate Re sum e (Ma rks); Tiburon Rese ar ch & An alysis
38
The Financial Services Consulting Industry is Still Highly Fragmented with Only 17 Practices
Commanding More than 1% Market Share with the Largest Practice Having 6.1% Market Share
52%
62%
72%
Remaining Market Share
94%
48%
38%
28%
Market Share
6%
Top Pr actice
Top 10 Practices
Top 20 Practices
Top 30 Practices
39
Manufacturing Companies
This section outlines the manufacturing companies segment of consulting industry
market & distribution channels.
Manufacturing companies are the third largest markets & distribution channels for the
consulting industry.
Retail Companies
This section outlines the retail companies segment of consulting industry market &
distribution channels.
Retail companies are the fourth largest markets & distribution channels for the consulting
industry.
Other Companies
This section outlines the other companies segment of consulting industry market &
distribution channels.
Future Predictions for the Consulting Business
This chapter outlines the future predictions for the consulting industry.
Continual Rapid Growth
This section outlines the likely continual rapid growth of the consulting industry.
The financial services consulting market is predicted to grow from $60 billion in
revenues to $74 billion by 2011, an increase of more than 20%. After generating $60
billion in revenues in 2007, the financial services consulting market is expected to
generate $64 billion in 2008, $68 billion in 2009, $71 billion in 2010, $74 billion in 2011,
$77 billion in 2012, and $80 billion in revenues by 2013.
Increasing Dominance of Strategy Consulting
This section outlines the likely dominance of strategy consulting.
Increasing Importance of Financial Services Company Clients
This section outlines the likely importance of financial services industry clients.
Consulting Firms to Expand
This section outlines the likely emergence of industry focused frameworks.
Continual Industry Consolidation
This section outlines the likely continual industry consolidation.
The largest consulting firm acquisitions have been Ernst & Young, AT Kearney, APM,
MAC Group, and Temple, Barker, & Sloane. Specifically, in terms of the acquired
consulting firms revenues, the largest acquisition by far was the Cap Gemini acquisition
of Ernst & Young, which had $11 billion in revenues. The second largest acquisition was
EDS acquisition of AT Kearney, which had $346 million in revenues, followed by the
CSC acquisition APM and its $85 million in revenues, Cap Geminis acquisition of MAC
Group and its $74 million in revenues, Marsh & McLennan acquisition of Temple, Barker,
40
& Sloanes $52 million in revenues and its acquisition of Strategic Planning Associates
and its $43 million in revenues.
Tiburon Strategic Advisors
Tiburon Strategic Advisors was formed in 1998 to offer market research, strategy
consulting, & other related services primarily to financial services firms. Three of
Tiburon's core clientele groups are the CEOs and other senior executives of large US
financial institutions faced with difficult strategic decisions, leading executives of foreign
financial institutions trying to understand and/or enter the US markets, and a long list of
venture capital & private equity firms, and investment banks, making investments in, and
executing transactions in, areas where Tiburon has developed proprietary insights. The
firm has served over 300 corporate clients and completed over 1,200 projects since its
founding, and today, its knowledge base includes mutual fund distribution, separately
managed account programs, alternative investments, wealth management, insurance
products, banking services, the fee-based financial advisor market, the CPA firm market,
the family office market, and various international markets.
Research Report Series
This report is part of the Tiburon Strategic Advisors Research Report Series, which is
comprised of a growing number of in-depth reports covering a wide range of topics in the
banking, insurance, brokerage, and investment management markets. Tiburons
Research Reports are published in two series. One series is aimed towards Financial
Institutions and the other towards Financial Advisors. The Financial Institutions Series
reports are macro-industry reports that cover topics such as the mutual funds industry,
the full-service brokerage industry, and the registered investment advisor industry.
Reports in the Financial Advisors Series are more tactical reports, which include topics
such as Fee-Based Financial Advisor Best Practices and Succession Planning & the
Growing Acquisition Market.
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41
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Second, please ensure that no other executive at your firm has ordered the same
report; Tiburon is willing to allow the internal sharing of its reports by purchasers,
but purchasers need to take responsibility to confirm any prior purchases within
their firms as the growing complexity of financial services firms makes it
impractical for Tiburon to track any firm's subsidiaries and their respective
purchases.
Finally, please remember that the totality of the report is the offering. If there is a
graph that is unreadable because of the smaller font size required for printing,
please bring it to the firm's attention and a full-size version will be sent, but
please do not seek a refund on a report purchase that you have received.
Madhu Subramanian
Research Associate
Tiburon Strategic Advisors
Chip Roame
Managing Principal
Tiburon Strategic Advisors
42
43
firms have a 16.0x, insurance companies have a 15.0x, and retail banks have a 14.0x
price-to-earnings ratio.
Retail banks have the highest price-to-book value ratios in the financial services
industry. Retail banks price-to-book value ratio is at 2.2x.
Retail banks and insurance companies have the highest market capitalization in the
financial services industry.
Retail banks will continue to be the primary buyers since they are the largest institutions.
Retail banks account for more than one-half of financial services market capitalization.
Insurance companies, diversified financial services companies, and brokerage firms &
asset managers account for 22%, 21%, and 3% respectively.
Retail Banks Valuations
Retail banks are looking inexpensive.
Retail banks earnings are increasing.
Retail banks price-to-revenues ratios are increasing.
After a drop-off, price-to-earnings ratios on retail bank deals also have been trending up
to 23.3x. Specifically, retail banks price-to-earnings ratios were 22.3x, 15.5x, 17.2x,
18.8x, 23.3x, and 23.3x in 1998, 2000, 2001, 2002, 2003, and 2004 respectively.
Retail bank price-to-book value multiples have been steadily trending up to 2.2x.
Specifically, retail banks price-to-book value ratios were at 1.7x, 1.8x, 1.9x, 2.2x, and
2.2x in 2000, 2001, 2002, 2003, and 2004 respectively.
Smaller retail banks have higher multiple of earnings than bigger retail banks.
Retail banks market capitalization are decreasing.
Retail bank valuations have a number of key issues, including macro economic pressure
and segment competition.
Retail bank stocks are sensitive to macro economic pressures.
Retail bank stocks have been steady for a number reasons, including falling interest
rates, surging deposit growth, and booming mortgage loan markets.
Oddly, retail bank stocks have not benefited from the recent surge in brokerage
earnings. Most large bank stocks suffered badly from the decline in brokerage revenues
during the market downturn. Bank stocks are not benefiting equally from a reversal.
Insurance Companies Valuations
Insurance companies are looking inexpensive.
Insurance company earnings are decreasing.
Insurance company price-to-revenues ratios are decreasing.
44
45
46
47
48
James McKinsey & Company was founded by James McKinsey in 1926. It was based in
New York, NY.
AT Kearney began as a branch of McKinsey & Company in 1926. It was started by Tom
Kearney in New York, NY.
McKinsey & Companys heart & soul, Marvin Bower, joined the firm in 1933, as its fourth
managing director. He objected to the marriage of consulting and accounting for over 70
years, and steered the firm towards a behind the scenes role serving the most senior
executives.
Towers Perrin was founded in 1934. It was founded by Walter Forster in Philadelphia,
PA.
Kurt Salmon Associates was founded in 1935. It was founded by Kurt Salmon.
Hewitt Associates was founded in 1940 as Edwin, Shields, Hewitt, & Associates. It was
founded by Ted Hewitt in Lake Forest, IL.
Hay Group was founded in 1943. It was founded by Edward Hay in Philadelphia, PA.
William Mercer was founded in 1945. It was founded by William Mercer in Canada.
Watson Wyatt Worldwides predecessor, The Wyatt Company, was founded in 1946. It
was founded by B. Wyatt in Arlington, VA.
The Rand Corporation was founded in 1948.
Marsh & McLennan acquired William Mercer in 1959.
Electronic Data Systems (EDS) was founded in 1962.
Boston Consulting Group was founded in 1963 as one of the first firms to be built
primarily around strategic consulting. It was founded by Bill Henderson and is based in
Boston, MA.
The Wilkerson Group was founded in 1967.
Roland Berger was founded in 1967. It was founded by Roland Berger in Munich,
Germany.
Cap Gemini Sogeti was founded in 1967. It was founded by Serge Kampf in Grenoble,
France.
Rogers Casey was founded in 1968.
Index Group was founded in 1969. It was founded by Thomas Gerrity in Cambridge,
MA.
Boston Consulting Group Came to prominence in the 1970s.
49
American Management Systems was founded in 1970. It was founded by five former
US Department of Defense officials and is based in Arlington, VA.
Canada Consulting Group was founded in 1970. It was founded by Jim Fisher and is
based in Canada.
Temple, Barker, & Sloane was founded in 1970. It is based in Boston, MA.
Strategic Planning Associates was founded in 1972. It is based in Washington, DC.
Bain & Company was founded 1973. It was founded by Bill Bain in Boston, MA.
American Practice Management was founded 1974. It was founded by Arthur Spiegal.
Barra was founded in 1975.
Braxton Associates was founded in 1977. It is based in Boston, MA.
Marakon Associates was founded in 1978. It was founded by Jim McTaggart.
Alcar Group was founded in 1979.
professors.
50
International
Canada Consulting Group
Strategy consulting firms acquired in the 1980s & 1990s included Temple Barker &
Sloane, Index Group, & Strategic Planning Associates.
Specifically, details of
acquisitions include:
Deloitte Touche Tohmatsu Braxton
Acquired in 1984
Founded in 1977
Based in Boston, MA
Marsh & McClennan -Temple Barker & Sloane
$52 million revenues
Acquired in 1987
Acquired for general strategy consulting assets
Computer Science Corporation Index Group
$25 million revenues
Acquired in 1988
Acquired for general management
consulting assets
Founded in 1969
Founded by Thomas Gerrity
Based in Cambridge, MA
51
Acquired in 1995
Acquired for pharmaceutical and medical strategy consulting assets
52
The 1980s & 1990s brought numerous consulting firm acquisitions, including Marsh &
McClennans
acquisition
of
The 1980s & 1990s Brought Numerous Consulting Firm Acquisitions, Including Marsh &
McClennans Acquisition of Temple, Barker, & Sloane and the Leveraged Buyout of Arthur Little
Temple, Barker, & Sloane and
the leveraged buyout of Arthur
Consulting Firm Acquisition Valuations
During the 1980s & 1990s
Little.
($ Millions)
First Consulting
founded in 1980.
Group
was
$ 34 6.0
E D S ( A T Ke ar n e y)
$ 2 01.0
M an a ge m e n t B uy o ut ( Ar t h ur Li t tl e)
$ 188. 0
M a na g eme n t B uy o ut ( Ha y Gr o u p)
$ 74 .0
C ap Ge m in i S o ge t i ( M AC Gr o u p)
$ 5 2.0
M a r sh & M c Le n n an ( T e m p l e, B ar k e r, & S l oa n e)
$ 43 .0
C S C ( I nd e x Gr o u p)
M c Ki n se y & Co mp an y ( I n f o r mat i on C on su lt i n g Gr o u p)
Bo st on C o nsu l t in g G r ou p ( Ca n a da C on su lt i n g Gr o u p)
Corporate
Decisions
was
founded in 1983.
It was
founded by Adrian Slywotsky in
Boston, MA.
$ 85. 0
AP M ( C S C)
$ 2 5.0
$ 2 0.0
$ 7 .0
So ur ce: 1 2/0 1 C onsulting Industry R eport; Tibu ro n R esearc h & Analy sis
53
The Wyatt Company merged with Watson & Sons, and became known as Watson Wyatt
Worldwide in 1995.
Bain & Company laid off almost one-quarter of its workforce in 1996. Specifically, it laid
off 20% of its employees and retained the remaining 80%.
Answerthink was founded in 1997.
SBI Group was founded in 1997.
Tiburon Strategic Advisors was founded in 1998 to offer research-based strategy
consulting to financial institutions. Tiburon Strategic Advisors was founded by its
Managing Principal Chip Roame, and is based in Tiburon, CA.
Troubled & Retrenchment Phase
This section outlines the third phase of the consulting industry
The poor economy had extensive impacts on the consulting industry in the early 2000s.
Consulting firm scandals also had an impact on the consulting business in the early
2000s, including those of Accenture, Arthur Little, and McKinsey & Company.
Accentures scandal occurred in 2001 due to their relationship with Arthur Andersen.
Specifically, details of scandals include:
Accenture
Scandal in 2001
Prior to 2001 part of Arthur Andersen which was involved in Enron
scandal for auditing services
Absolved and not held liable for the Enron scandal in court
Change of name helped image problems associated with Arthur
Andersen
Arthur Little
Filed for bankruptcy in 2001
Caused by over-expansion of management consulting business &
failed high technology consulting spin-off
McKinsey & Company
Scandal in 2001
Consultant to Enron
One of McKinsey & Companys biggest clients
The consulting industrys reputation declined substantially in the early 2000s, reaching
its lowest level. Consultants became increasingly perceived as an expense instead of
trusted advisors. Consulting industry needed to reposition its employees as perceptive
professionals who earnestly wanted to help. During this time pro bono work was a
possibility.
Consulting firms began employing a series of defensive moves to maintain market share
in the tough environment of the early 2000s. The series of defensive moves employed
by various consulting firms included increased advertising, a focus on information
54
technology consulting projects, offering price breaks, and focusing on pro bono activities.
Moreover, outcomes included the start of internal bickering, decreased hiring,
consideration of layoffs, decreased employee morale, increased employee stress levels,
loss of top partners and associates to technology companies, initiation of capital calls,
big four CPA spin-offs and sales, industry consolidation, and the emergence of small
firms.
Some consulting firms increased advertising in the early 2000s.
Other consulting firms focused heavily on their information technology practices in the
early 2000s. The organization and accessibility of research and information was crucial
to management consulting firms. Consulting firms core business is the selling of
knowledge and analysis. Firms such as McKinsey & Company admitted that their
current technology systems were ineffectively captured and leveraged the knowledge
collected by its employees. Consulting firms spent considerable amounts of money
improving technology and internal web sites.
Consulting firms began employing price breaks as a defensive move to maintain market
share in the early 2000s. Firms offered price breaks to clients if they agreed not to hire
other consulting firms.
Some consulting firms focused more on pro bono activities in the early 2000s.
Specifically, details of pro bono work include:
9/11 Financial Assessment
Seven firms helped New York City quantify the financial cost of 9/11/01
AT Kearney
Bain & Company
Bearing Point
Booz, Allen, & Hamilton
Boston
Three-Quarters of Consulting Firms Stopped Hiring in the Early
Consulting
2000s
Group
Consulting Firms
McKinsey &
By Propensity to Be Considering Adding Staff
Company
Price
Waterhouse
Coopers
Co nsider ing
Ad ding Sta ff
25%
Monitor Group
Houses a venture
philanthropy
company that helps
non-profits
with
funding, people, and
Internet technology
systems
Not Considering
Addin g Staff
75%
People Soft launched an advertising campaign in the early 2000s criticizing the billing
structures of consulting firms in the early 2000s. The campaign highlighted the
companys enterprise service automation software, which was designed to manage the
55
56
SBI Lante
-SBI March First
-SBI Razorfish
Razorfish had 2,000 employees and $104 million in revenues in 2001
Employed only 250 by 2002
SBI Scient
-Novell Cambridge Technology Partners
Acquired in 2001
Paid $266 million
Founded in 1991
Based in Cambridge, MA
The big four CPA firms restructured their consulting businesses in the early 2000s,
including Deloitte & Touche which spun-off its consulting division.
Deloitte & Touche
Spun off as Deloitte Consulting in 2002
Last Big Four CPA firm to act
Price Waterhouse Coopers
Price
Waterhouse
Coopers sold to IBM
KPMG
Spun off as Bearing
Point
Ernst & Young
Sold to Cap Gemini
in 2000
$11 billion in
revenues
18%
Neutral
76%
23%
55%
22%
6%
Large consulting firm alumni
2001
2002
began moving to smaller firms in
the early 2000s. Reasons for
these moves by large consulting
firm alumni to smaller firms included their attempt to rebuild equity holdings, and their
ability to bring their same expertise for less money per hour to the same Fortune 500
clients.
Low & Very Low
57
Consulting firm morale declined in the early 2000s, with almost half of all employees
having very low, low, or neutral morale. Specifically, in 2002 45% of consulting firm
employees reported very low, low, or neutral morale, while 24% of employees reported
very low, low, or neutral morale in 2001, an increase of 21%.
Some
firms,
including
Accenture, Towers Perrin, &
Boston Consulting Group had
very low morale in the early
2000s.
8 2%
58 %
5 0%
5 5%
6 0%
64 %
79 %
8 0%
9%
9%
20 %
Neutral
6%
1 2%
9%
6%
6%
4 1%
3 6%
1 2%
1 4%
15 %
B o o z A lle n
H a mi l t o n
P it tig li o ,
R a bin,
T odd, &
M c G ra t h
H ew it t
A s s oc ia t e s
16 %
25 %
26 %
A c c e n tu r e
T o we r s
P e rr in
2 8%
27 %
Wa t s o n
W ya tt
W o r l d wid e
B os t on
C o n s u l t ing
G ro u p
M o n it o r
Group
M c K i n se y &
C om pa ny
So ur ce: 11/02 C onsu ltants Ne ws; Tiburon Res earch & An alysis
Some Firms Such as Sapient, Towers Perrin, and Booz, Allen, & Hamilton Had Very
High Employee Stress Levels in the Early 2000s
Consulting Firms
Share of Employees Reporting High Stress Levels
44%
43%
42%
36%
35%
Sapient
Towe rs
Perrin
Booz Allen
Ham ilton
KPMG
PWC
30%
29%
AT Kearn ey
28%
28%
Wats on
Wyatt
Firs t
Cons ulting
Group
Deloitte Consulting announced plans to change its name to Braxton after it separated
from Deloitte Touche Tohmatsu in 2002.
About one-third of consulting firms considered layoffs in 2002. Specifically, 33% of
consulting firms considered layoffs, while 67% did not consider layoffs.
Deloitte Consulting changed course in 2003 and stayed with Deloitte Touche Tohmatsu,
calling itself Deloitte Consulting.
58
59
Consulting Firms
This section outlines consulting firms market growth.
There are almost 320,000 consulting firms, up 50% since 2001. Specifically, in 2001
there were 210,000 consulting firms, 190,000 in 2002, 200,000 in 2003, 260,000 in
2004, 300,000 in 2005, and 320,000 in 2006.
Consulting Firm Offices
This section outlines consulting firm offices market growth.
There are over one million consulting firm offices, up 20% since 2001. Specifically, in
2001 there were 870,000 consulting firm offices, 840,000 in 2002, 850,000 in 2003,
870,000 in 2004, 980,000 in 2005, and 1,025,000 in 2006.
Consulting Firm Employees
This section outlines consulting firm employees market growth.
There are over five million consulting firm employees, up 20% since 2002. Specifically,
in 2001 there were 4.0 million consulting firm employees, 4.2 million in 2002, 4.4 million
in 2003, 4.6 million in 2004, 4.8 million in 2005, and 5.0 million in 2006.
Consulting Firm Partners
This section outlines consulting firm partners market growth.
There are over two million consulting firm partners, up almost 100% since 2001.
Specifically, in 2001 there were 1.2 million consulting firm partners, 1.4 million in 2002,
1.6 million in 2003, 1.8 million in 2004, 2.0 million in 2005, and 2.2 million in 2006.
Consulting Firm Partners per Employee
This section outlines consulting firm partners per employee market growth.
The consulting industry has less than half the number of partners per employees.
Specifically in 2006 there were 0.44 consulting firm partners per employee, up slightly
from 0.42 partners per employee in 2005, 0.40 partners per employee in 2004, 0.36
partners per employee in 2003, 0.33 partners per employee in 2002, and 0.30 partners
per employee in 2001.
Consulting Firm Consultants
This section outlines consulting firm consultants market growth.
There are about four million consulting firm consultants, up by about one million since
2001. Specifically, in 2001 there were 3.0 million consulting firm consultants, 3.2 million
in 2002, 3.4 million in 2003, 3.6 million in 2004, 3.8 million in 2005, and 4.0 million in
2006.
Consulting Firm Clients
This section outlines consulting firm clients market growth.
There are about four million consulting firm clients, up by about one million since 2001.
Specifically, in 2001 there were 3.0 million consulting firm clients, 3.2 million in 2002, 3.4
million in 2003, 3.6 million in 2004, 3.8 million in 2005, and 4.0 million in 2006.
60
$120
$80
$30
2001
2002
2003
2004
2005
2006
The
consulting
industry
generates $600,000 in revenue
per employee. This is up significantly from $521,000 in 2005, $413,000 in 2004,
$273,000 in 2003, $191,000 in 2002, and $75,000 revenues per employee in 2001.
So ur ce: 1 /07 Co nsultin g M agazi ne ( Kennedy ); Tibur on Re search & A nalysi s
61
62
Deloitte Consulting with 346 offices. CSC Index is next among number of consulting
offices with 235 offices, McKinsey & Company with 189, EDS & AT Kearney with 167,
Bearing Point with 118, and Mercer Consulting with 100.
Consulting Firm Employees
This section outlines consulting
firm employees of leading firms.
500
Accenture
485
376
Deloitte Consulting
346
CSC/Index
235
189
167
118
100
10.4
Accenture
10.2
6.8
Deloitte Consulting
6.2
CSC/Index
4.6
4.5
3.8
Bearing Point
3.4
2.2
63
are Deloitte Consulting with 6,750 consultants, McKinsey & Company with 4,500
consultants, CSC Index with 4,200 consultants, EDS & AT Kearney with 3,300
consultants, Bearing Point with 3,1,00 and Mercer Consulting rounds out the leader list
with 2,200 consultants.
Consulting Firm Clients
This section outlines consulting
firm clients of leading firms.
1,920
Accenture
1,900
1,450
Deloitte Consulting
1,320
840
780
Bearing Point
Mercer Consulting
CSC/Index
630
490
420
IBM
Accenture
857
490
Deloitte Consulting
469
CSC/Index
357
280
Bearing Point
Mercer Consulting
275
213
158
64
IBM and Accentures revenues are nearly double those of other leading consulting firms.
IBM and Accenture again standout in their leadership in consulting firm revenues. IBM
now leads with $10.8 billion, while Accenture is second with $9.5 billion in revenues.
Cap Gemini Ernst & Young is
IBM and Accentures Revenues are Nearly Double Those of Other
next with $5.9 billion in
Leading Consulting Firms
revenues, next is Deloitte
Leading Consulting Firms Revenues
Consulting with $5.6 billion in
($ Billions)
revenues. CSC Index has $3.6
billion
in
consulting
firm
revenues, closely followed by
McKinsey & Company with $3.3
billion in revenues, which is in
turn closely followed by EDS &
AT Kearney which generated
$2.9 billion in revenues. KPMG
Peat Marwick is bunched with
the lower half of the leaders with
$2.7
billion
in
generated
revenues,
while
Mercer
Consulting concludes the pack
of leaders in consulting firm revenues with $2.2 billion in revenues generated.
IBM
$10.8
Accentur e
$9.5
$5.9
Deloitte Consulting
$5.6
CSC/Index
$3.6
$3.3
$2.9
$2.7
$2.2
$10.8
Accentur e
$9.5
$5.9
Deloitte Consulting
$5.6
CSC/Index
$3.6
$3.3
$2.9
$2.7
$2.2
65
McKinsey & Company, Boston Consulting Group, and Bain & Company remain among
MBAs most desired employers. Specifically, McKinsey & Company ranked number one
in 2001 and 2002 as MBAs most desired employers, while Boston Consulting Group
ranked number two in the 2001
McKinsey & Company, Boston Consulting Group, and Bain &
and 2002 period also. Bain &
Company Remain Among MBAs Most Desired Employers
Company ranked number five
MBAs Desired Employees
among MBA employer choices.
Notable non consulting industry
Compan y
2002 Ranking
2001 Ranking
employer choices of MBAs
McKinsey & Company
1
1
were Goldman Sachs which
Boston Consulting Group
2
2
ranked number 3 and 4 in the
Goldman Sachs
3
4
respective years of 2001 and
General Electric
4
25
Bain & Company
5
5
2002, as well as General
Citigroup
6
37
Electric which ranked number 4
Morgan Stanley
7
10
among MBAs employer choices
Walt Disney
8
13
in 2002.
IBM
11
Coca Cola
10
38
Male and female MBA students have slightly different desired employers, but McKinsey
& Company leads with both. Specifically, details of each genders top five desired
employers include:
Men
Women
McKinsey & Company
Google
Johnson & Johnson
Boston Consulting Group
Bain & Company
MBAs preferred consulting firms vary depending on the desired attribute of the firm.
The desired attributes ranked were prestige, compensation, opportunities, and quality of
life.
Specifically, among the ranked attribute of prestige, compensation, and
opportunities, McKinsey & Company ranked first or second. Boston Consulting Group
ranked second behind McKinsey & Company in the attributes of prestige and
66
compensation.
Bain & Company ranked third in prestige, compensation and,
opportunities while Booz, Allen, & Hamilton ranked fourth in prestige and opportunities.
67
MARKET SEGMENTATION
This chapter explains the market segmentation of the consulting industry.
The consulting industry can be analyzed into two segments, including consulting market
types and markets & distribution channels. Specifically, details include:
Consulting Marketing Types
Strategy consulting
Sales & marketing consulting
Organizational effectiveness consulting
Operations & technology consulting
Other consulting
Markets & Distribution Channels
Federal & state government
Financial services companies
Manufacturing companies
Retail companies
Other companies
Consulting Market Types
This section outlines the market
types of the consulting industry.
Strategy Consulting
This
section
outlines
the
strategy consulting segment of
consulting
industry
market
types.
Organizational
Effectiveness
5%
Str ategy
15%
So ur ce: 1 /07 Con sulting Magazine (K ennedy); Tiburon Res earch & An aly sis
The strategy consulting market has become more competitive, due to questions about
the value of pure strategy, the building of in-house strategy consulting departments,
competition from information technology consultants, and the shrinking size of
engagements.
Fortune 500 executives have periodically questioned their need for pure strategy
consultants.
68
Some large companies have started in-house strategy consulting departments instead of
using strategy consulting firms. Specifically, details of companies with in-house strategy
consulting departments include:
American Express
-AOL Time Warner
12 of 19 people in its
strategy department
are
ex-consultants
from
strategy
consulting firms
The Bank of America
Corporation
Predecessor
from
Fleet Bank hired
strategy consultants
to work alongside its
people to learn their
methods
Strategy Consulting
Strong
Market
H igh
High
Weak Market
L ow
Med ium
Core Capability
Likely
Success by
Market
Situation
The length of an average strategy consulting engagement dropped from between six &
eighteen months to just 90 days in the early 2000s as clients focused on more
immediate value.
In a more competitive strategy consulting market, industry focused firms are likely to
gain share. In a more competitive environment a broad strategy firm where strategy is
the core capability, the likelihood of success in a strong market is high, while in a weak
market the likelihood of success is low. In comparison, in a more competitive strategy
consulting environment, an industry specific firm which has an industry focused strategy
consulting core capability is likely to fair better than a broad strategy firm, in that they will
have a high chance of success in gaining share in a strong market, and a medium as
opposed to a low chance of finding success in a weak market.
Smaller firms may do better in the new strategy consulting environment.
Turnaround consulting is also an interesting popular specialty amongst strategy
consulting firms.
69
70
Despite its size, information technology consulting is still often not favorably viewed by
management consulting purists. It has been reported that technology workers at some
management consulting firms are considered second-class citizens. However, despite
this perception, information technology has become a CEO-level discussion, as more
chief technology officers now report to CEOs, in turn creating executive demand for
information technology consulting expertise. Interestingly, fewer information technology
college graduates are creating demand for consulting as well.
Telecommunications, software, defense, and strategy consulting firms are formidable
information technology consulting threats. Specifically, details of threats to information
technology consulting firms include:
Telecommunications Firms
-Software Firms
Software makers need to expand services as software sales are dwindling
Key strengths
No middleman
Less mark-up
Better product knowledge
Defense Vendors
Large information technology vendors such as Lockheed Martin and Boeing
have started pursuing information technology consulting engagements
May look to acquire struggling consulting firms with federal government
experience
Bearing Point may be a target
Strategy Firms
71
AT Kearney
Accenture
Atos Origin
Bain & Company
Bearing Point
Booz Allen Hamilton
Boston Consulting Group
Capgemini
CGI (AMS)
72
Tiburon Strategic Advisors, First Manhattan, Novantas, & Spectrum Group are key
players in the financial services consulting market.
The financial services consulting
market generates $60 billion in
revenues, up 65% since 2004.
Specifically,
the
financial
services consulting markets
generated $42 billion in 2006,
$39 billion in 2005, and
generated
$36
billion
in
revenues in 2004.
$60
$36
$39
$42
2006
2007
So ur ce: 4 /3/08 Fina nc ia l Ser vices Co ns ulting M ark etplace Re port (Kenned y Inform ation); 1/07 C onsulting Magazine (Kenned y); Tiburon R ese arc h & Analy sis
73
In contrast, strategy
consulting generates 15% of financial services industry consulting firm revenues, and
organizational effectiveness consulting generates the remaining 5%.
Financial services companies account for almost one-quarter of the stock markets
capitalization, the largest share of any sector. Specifically, financial services companies
account for 22% of the stock markets capitalization.
The financial services consulting
industry is still highly fragmented
with
only
17
practices
commanding more than 1%
market share with the largest
practice having 6.1% market
share. Additionally, the top 10
practices have command only
28% market share, the top 20
practices command only 38%
market share, and the top 30
practices command only 48%
market share.
The Financial Services Consulting Industry is Still Highly Fragmented with Only 17 Practices
Commanding More than 1% Market Share with the Largest Practice Having 6.1% Market Share
52%
62%
72%
Remaining Market Share
94%
48%
38%
28%
Market Share
6%
Top 10 Practices
Top 20 Practices
Top 30 Practices
So ur ce: 4 /3/08 Fina nc ia l Ser vices Co ns ulting M ark etplace Re port (Kenned y Inform ation); Tiburon Rese arch & An alysis
The financial services industry can be analyzed in three ways, including its segments,
issues, and services. Specifically, details include:
Segments
Banks
Brokerage firms
Insurance
companies
Investment
managers
Other related firms
Othe r Companies
35%
Issues
Banking
Capital Markets
Insurance
Ba nks
65%
Services
Strategy
Business advisory services
Operation management
Human resources
Information technology
74
Segments
The first way the financial services industry can be analyzed is by segments.
The financial services industry includes banks, brokerage firms, insurance companies,
investment managers, and other related firms.
Banks constitute nearly two-thirds of the financial services sectors market capitalization.
Specifically, banks constitute 65% of the financial services sectors market capitalization,
while other companies constitute the remaining 35%.
Issues
The second way the financial services industry can be analyzed is by issues.
The financial services industry has three major issues, including banking, capital
markets, and insurance. Specifically, details include:
Banking
Risk management
Organic growth
Mergers & acquisitions
Customer service
Changing business mix from deposits to withdrawals due to retiring baby
boomers
Cost reduction
Emerging markets
Capital Markets
Regulation and compliance
Tightening liquidity and tightening private equity investments
Profitability
Sales and channel strategies
Cost-cutting
Risk Management
Changing business mix from investing to monetization
Insurance
Expansion to new markets
Distributions channels
Risk management
Compensation models
Sales force automation
Mergers & acquisitions
Back-office transformation/ modernization
Services
The third way the financial services industry can be analyzed is by services.
The financial services industry has five major services, including strategy, business
advisory, operation management, human resources, and information technology.
75
its
Manufacturing Companies
This section outlines the manufacturing companies segment of consulting industry
market & distribution channels.
Manufacturing companies are the third largest markets & distribution channels for the
consulting industry.
Retail Companies
This section outlines the retail companies segment of consulting industry market &
distribution channels.
Retail companies are the fourth largest markets & distribution channels for the consulting
industry.
Other Companies
This section outlines the other companies segment of consulting industry market &
distribution channels.
There is a wide variety of other markets & distribution channels for the consulting
industry.
76
$60
$64
$68
$71
$74
$80
$77
2008
2009
2010
2011
2012
2013
So ur ce: 4 /3/08 Fina nc ia l Ser vices Co ns ulting M ark etplace Re port (Kenned y Inform ation); Tiburon Rese arch & An alysis
The financial services consulting market is predicted to grow from $60 billion in
revenues to $74 billion by 2011, an increase of more than 20%. After generating $60
billion in revenues in 2007, the financial services consulting market is expected to
generate $64 billion in 2008, $68 billion in 2009, $71 billion in 2010, $74 billion in 2011,
$77 billion in 2012, and $80
The Financial Services Consulting Market is Expected to Continue
billion in revenues by 2013.
to Grow, But at a Slower Rate in the Coming Years
The financial services consulting
market is expected to continue
to grow, but at a slower rate in
the coming years.
Scott
McDonald, Managing Partner of
Oliver Wyman, stated in 2008
that, for the time being, the
consulting business is affected
positively. [In 2008] we expect
the financial services consulting
to slow down due to ongoing
credit issues and weaker
earnings.
So ur ce: 4 /3/08 Fina nc ia l Ser vices Co ns ulting M ark etplace Re port (Kenned y Inform ation); Tiburon Rese arch & An alysis
77
78
APPENDIX
This appendix will profile many of the leading industry players. Profiles will vary in depth
based on Tiburons historical need in its past client work to have researched each
company. These profiles should be considered a bonus in this report as opposed to
authoritative summaries of these firms strategies. In future drafts of this report, profiles
are likely to be further detailed, so if your firm is included, please do send along any
relevant marketing materials.
Profiles of Consulting Firms
This section outlines profiles of consulting firms.
Academy of Financial Services & Precision Marketing Partners
Academy of Financial Services & Precision Marketing Partners CEO is Rochelle Lamb.
History
The first section of Academy of Financial Services & Precision Marketing Partners
profile will explain the key historical events in the firms development.
The Academy of Financial Services & Precision Marketing Partners were founded and
have evolved through three phases, including their early phase, middle phase, and
recent phases.
Early Phase
The first phase in the development of Academy of Financial Services & Precision
Marketing Partners was its early phase.
Middle Phase
The second phase in the
development of Academy of
Financial Services & Precision
Marketing Partners was its
middle phase.
Recent Phase
The third phase in the
development of Academy of
Financial Services & Precision
Marketing Partners was its
recent phase.
Academy of Financial
Ser vices & Precision
Marketing Partners
Academy o f
Financial
Services
Precisio n
Mar keting
Partners
Statistics
The second section of Academy
of
Financial
Services
&
Precision Marketing Partners
profile will review some key statistics regarding the firm.
--
--
--
Sour ce: 2/1 0/0 7 Academy o f Fin anci al S ervi ces & Prec ision Marketi ng Pa rtner s W eb S ite; Tiburon R esearc h & Analy sis
Businesses
The third section of Academy of Financial Services & Precision Marketing Partners
profile will outline its core businesses.
79
The Academy of Financial Services & Precision Marketing Partners has several
businesses, including the two namesake businesses. These two businesses are the
Academy of Financial Services and Precision Marketing Partners.
Academy of Financial Services
The Academy of Financial Services & Precision Marketing Partners first business is its
Academy of Financial Services.
Precision Marketing Partners
The Academy of Financial Services & Precision Marketing Partners second business is
its Precision Marketing Partners.
Organization & Ownership
The final section of Academy of Financial Services & Precision Marketing Partners
profile will address is organizational structure & ownership.
The Academy of Financial Services & Precision Marketing Partners has a web site.
The Academy of Financial Services & Precision Marketing is led by its CEO Rochelle
Lamb.
The Academy of Financial Services & Precision Marketing Partners is privately owned.
Accenture
Accenture was founded in 1953 and is based in Hamilton, Bermuda. It has operations in
50 countries with 150 offices and 175,000 employees worldwide. The firm generates
$19.7 billion in revenue. Accentures CEO is Bill Green. It is a public company and is
listed on the New York Stock Exchange under the ticker ACN. The firms web site is
www.accenture.com.
History
The first section of Accentures profile will explain the key historical events in the firms
development.
Accenture was founded as part of Arthur Andersen in 1953 and has evolved through
three phases, including the Arthur Andersen, Andersen Consulting, and Accenture
phases.
Arthur Andersen Phase
The first phase in the development of Accenture was its Arthur Andersen phase from
1953 to 1988.
Accenture was begun as the consulting division of Arthur Andersen after a consulting
project that was conducted in 1953.
Andersen Consulting Phase
The second phase in the development of Accenture was its Andersen Consulting phase
from 1989 to 2000.
80
Accenture split from Arthur Andersen and became known as Andersen Consulting in
1989, but as a condition had to give 15% of its profits each year to Arthur Andersen.
Accenture, known at the time as Andersen Consulting, pulled in more revenue than all of
Arthur Andersen in 2000.
Accenture, Known at the Time as Andersen Consulting, Pulled in
Specifically,
Andersen
More Revenue than All of Arthur Andersen in 2000
Consulting
generated
$9.5
billion while Arthur Andersen
Arthur Andersen & Andersen Consulting Revenues
generated $9.2 billion.
($ Billions)
Accenture Phase
The third phase in the
development
of
Accenture
was
its
Accenture phase from
2001 to 2008.
$9.5
$9.2
Accentures
predecessor,
Andersen Consulting, finalized
Arthur Andersen
Andersen Con su lting
its split from Arthur Andersen
while Arthur Andersen was
mired in the Enron scandal, & adopted the name Accenture in 2001.
Sour ce: 3/1 9/0 8 Acc entu re Web Si te ; Ti buron Rese arch & Analy sis
Statistics
The second section of Accentures profile will review some key statistics regarding the
firm.
Accenture has operations in 50 countries.
Accenture has 150 offices.
Accenture
employees.
has
Accenture generates
billion in revenues.
175,000
Accenture Businesses
$19.7
Businesses
The third section of Accentures
profile will outline its core
businesses.
Accenture has three core
businesses,
including
consulting,
technology,
&
outsourcing.
Accenture
Co nsulting
Techn olog y
Outsour cing
Sour ce: 3/1 9/0 8 Acc entu re Web Si te ; 3/07 Harvard Business Re view; Tibu ro n R esear ch & An aly sis
Consulting
Accentures first business is its consulting business.
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Technology
Accentures second business is its technology business.
Outsourcing
Accentures third business is its outsourcing business.
Organization & Ownership
The final section of Accentures profile will address is organizational structure &
ownership.
Accenture has a detailed web
site that is divided into four
sections, including Services,
Research & Insights, About
Accenture, and Careers.
Accenture Has a Detailed Web Site that is Divided into Four Sections,
Including Services, Research & Insights, About Accenture, and Careers
Research &
In sights
Services
Accentur e
Web Site
About Accenture
Careers
Sour ce: 3/1 9/0 8 Acc entu re Web Si te ; Ti buron Rese arch & Analy sis
Accenture is a publicly owned company and is listed on The New York Stock Exchange
under the ticker ACN.
Achieve Global
Achieve Global has offices in Atlanta, Boston, Chicago, Cincinnati, Dallas, Detroit, Los
Angeles, Milwaukee, Minneapolis, San Francisco, St. Louis, and Seattle. It seeks to be
the most trusted global resource for individual, team, and organizational learning.
History
The first section of Achieve Globals profile will explain the key historical events in the
firms development.
Achieve Global was founded and has evolved through three phases, including its early
phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Achieve Global was its early phase.
Middle Phase
The second phase in the development of Achieve Global was its middle phase.
Recent Phase
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The third phase in the development of Achieve Global was its third phase.
Statistics
The second section of Achieve Globals profile will review some key statistics regarding
the firm.
Businesses
The third section of Achieve Globals profile will outline its core businesses.
Achieve Global has several various businesses.
Organization & Ownership
The final section of Achieve Globals profile will address is organizational structure &
ownership.
Achieve Global has a web site.
Achieve Global is led by its management.
Achieve Global is privately owned.
ACS
ACS was founded.
History
The first section of ACS profile will explain the key historical events in the firms
development.
ACS was founded and has evolved through three phases, including its early phase,
middle phase, and recent phases.
Early Phase
The first phase in the development of ACS was its early phase.
ACS Buck Consultants was founded in 1916.
Middle Phase
The second phase in the development of ACS was its middle phase.
Recent Phase
The third phase in the development of ACS was its recent phase.
Businesses
The third section of ACS profile will outline its core businesses.
ACS has several businesses, including Buck Consultants.
Buck Consultants
ACS first business is Buck Consultants which was founded in 1916.
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Advisory Board
Advisory Board is based in Washington, DC.
History
The first section of Advisory Boards profile will explain the key historical events in the
firms development.
Advisory Board was founded and has evolved through three phases, including its early
phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Advisory Board was its early phase.
Advisory Board is founded.
Middle Phase
The second phase in the development of Advisory Board was its middle phase.
Recent Phase
The third phase in the development of Advisory Board was its recent phase.
Statistics
The second section of Advisory Boards profile will review some key statistics regarding
the firm.
Businesses
The third section of Advisory Boards profile will outline its core businesses.
Advisory Board has several various businesses.
Organization & Ownership
The final section of Advisory Boards profile will address is organizational structure &
ownership.
Advisory Board has a web site.
Advisory Board is led by Jay McGonigle.
Advisory Board is privately owned.
Alix Partners
The firm is based in Detroit, Michigan.
History
The first section of Alix Partners profile will explain the key historical events in the firms
development.
Alix Partners was founded and has evolved through three phases, including its early
phase, middle phase, and recent phases.
Early Phase
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The first phase in the development of Alix Partners was its early phase.
Alix Partners was founded.
Middle Phase
The second phase in the development of Alix Partners was its middle phase.
Recent Phase
The third phase in the development of Alix Partners was its recent phase.
Statistics
The second section of Alix Partners profile will review some key statistics regarding the
firm.
Businesses
The third section of Alix Partners profile will outline its core businesses.
Alix Partners has several various businesses.
Organization & Ownership
The final section of Alix Partners profile will address is organizational structure &
ownership.
Alix Partners has a web site.
Alix Partners is led by its CEO.
Alix Partners is privately owned.
Alvarez & Marsal
Alvarez & Marshal was founded.
History
The first section of Alvarez & Marsals profile will explain the key historical events in the
firms development.
Alvarez & Marsal was founded and has evolved through three phases, including its early
phase, middle phase, and late phases.
Alvarez & Marsal has evolved through three phases, including its early phase, middle
phase, and recent phases.
Early Phase
The first phase in Alvarez & Marsals development was its early phase.
Middle Phase
The second phase in Alvarez & Marsals development was its middle phase.
Recent Phase
The third phase in Alvarez & Marsals development was its recent phase.
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Statistics
The second section of Alvarez & Marsals profile will review some key statistics
regarding the firm.
Businesses
The third section of Alvarez & Marsals profile will outline its core businesses.
Alvarez & Marsal has several various core businesses.
Organization & Ownership
The final section of Alvarez & Marsals profile will address is organizational structure &
ownership.
Alvarez & Marsal has a web site.
Alvarez & Marsal is led by its CEO.
Alvarez & Marsal is privately owned.
AM Best
AM Best was founded.
History
The first section of AM Bests profile outlines the key historical events in the firms
development.
AM Best was founded and has evolved through three phases, including its early, middle,
and recent phases.
Statistics
The second section of AM Bests profiles outlines some key statistics.
Businesses
The third section of AM Bests profile outlines its core businesses.
AM Best has several businesses.
Organization & Ownership
The final section of AM Bests profile outlines is organizational structure & ownership.
AM Best has a web site.
AM Best is led by its CEO.
AM Best is privately owned.
American Business Visions
American Business Visions was founded in 1989 and is based in Tustin, CA. The firms
main theme is effortless marketing. It has attempted to move from coaching to corporate
level assignments. The firms CEO is Steve Moeller.
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History
The first section of American Business Visions profile will explain the key historical
events in the firms development.
American Business Visions was founded and has evolved through three phases,
including its early phase, middle phase, and recent phases.
American Business Visions was founded in 1989
Statistics
The second section of American Business Visions profile will review some key statistics
regarding the firm.
Businesses
The second section of American Business Visions profile will outline its core
businesses.
American Business Visions focuses on several key areas based on the past experience
of its CEO. Specifically, details include:
Marketing
Specialized in direct-response marketing
Product Development
Developed a mutual fund wrap account program for a major regional financial
planning firm
Leadership
Provides consulting services for investment firms looking to become more
profitable
Transformation
Market Quest coaching program geared to independent financial advisors
Communication
Frequent speaker at major financial services conferences
Writes a monthly column for Dow Jones Investment Advisor
Authored first book in 1999
American Business Visions CEO Steve Moeller has a presence in print media.
Specifically, details include:
Books
Client Centered Marketing for Financial Service Professionals
Published in 1999
Monthly columns
The Business of Advice
Monthly column for Dow Jones Investment Advisor
88
American Business Visions market quest coaching program is a key initiative. It was
developed specifically for fee-based financial advisors. It teams advisors up with a
personal business coach. It also focuses on key business areas such as target markets,
research & prospecting, hiring strategies, team productivity, marketing tools, streamlined
business practices, strategic alliances, and time-saving techniques.
American Business Visions CEO Steve Moeller recently joined Tiburons Executive
Program. He was unable to attend the first offsite meeting in October 2003 due to prior
commitments.
American Business Visions clients include Assante.
American Business Visions has a number of businesses.
Organization & Ownership
The final section of American Business Visions profile will address is organizational
structure & ownership.
American Business Visions has a web site.
American Business Visions is
led by Steve Moeller. Donna
Dyer is Vice President of
Marketing.
Steve Moeller
CEO
Donna Dyer
Vice President
Marketing
--
--
Sourc e: 10 /15/98 Am eric an B usine ss Vis ions Em ai l (Dy er); 8/31/98 Americ an Bus iness Vis ions Letter; Tib uro n R esearch & Anal ysis
American Management Systems was founded in 1970 and has evolved through three
phases, including its early phase, middle phase, and recent phases.
Early Phase
The first phase in the development of American Management Systems was its early
phase.
American Management Systems (AMS) was founded in 1970.
Middle Phase
The second phase in the development of American Management Systems was its
middle phase.
89
Recent Phase
The third phase in the development of American Management Systems was its recent
phase.
Statistics
The second section of American Management Systems profile will review some key
statistics regarding the firm.
Businesses
The third section of American Management Systems profile will outline its core
businesses.
American Management Systems has several various businesses.
Organization & Ownership
The final section of American Management Systems profile will address is
organizational structure & ownership.
American Management Systems has a web site.
American Management Systems is led by its management.
Answerthink
Answerthink was founded in 1997.
History
The first section of Answerthinks profile will explain the key historical events in the firms
development.
Answerthink was founded in 1997 and has evolved through three phases, including its
early, middle, and recent phases
Early Phase
The first phase in the development of Answerthinks development was its early phase.
Answerthink was founded in 1997.
Middle Phase
The second phase in the development of Answerthinks development was its middle
phase.
Recent Phase
The third phase in the development of Answerthinks development was its recent phase.
Statistics
The second section of Answerthinks profile will review some key statistics regarding the
firm.
Businesses
The third section of Answerthinks profile will outline its core businesses.
90
History
The first section of Arc Partners profile will explain the key historical events in the firms
development.
Arc Partners was founded and has evolved through three phases, including its early
phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Arc Partners was its early phase.
Middle Phase
The second phase in the
development of Arc Partners
was its middle phase.
Recent Phase
The third phase in the
development of Arc Partners
was its recent phase.
Statistics
The second section of Arc
Partners profile will review
some key statistics regarding
the firm.
Ar c Partners
Man ag em en t
Consulting
Technolo gy
Solutions
--
--
--
Sour ce: 5/14/01 New York Times; Tiburon Re searc h & Analy sis
Businesses
The third section of Arc Partners profile will outline its core businesses.
Arc Partners has two businesses including its management consulting and technology
solutions business.
Management Consulting
Arc Partners first business is its management consulting business.
91
92
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Strategic Insight
Strategic Insight was founded 1986 and is based in New York, NY. It has 60 employees,
with
300
clients.
The
firms
web
sites
are
www.sionline.com,
www.strategicinsightglobal.com, www.fundingfiling.com, and www.annuityinsight.com.
History
The first section of Strategic Insights profile will explain the key historical events in the
firms development.
Strategic Insight was founded in 1986 and has evolved through three phases, including
its early, middle, and recent phases.
Early Phase
The first phase in the development of Strategic Insight was its early phase.
Strategic Insight was founded in 1986 by Avi Nachmany and others.
Middle Phase
The second phase in the development of Strategic Insight was its middle phase.
Recent Phase
The third phase in the development of Strategic Insight was its recent phase.
Statistics
The second section of Strategic Insights profile will review some key statistics regarding
the firm.
Strategic Insight has 60 employees.
Strategic Insight follows 50,000 mutual funds.
Strategic Insight serves 300 corporate clients. Other sources have said that the firm
serves 200 to 300 clients
Strategic Insights client list includes most large mutual fund companies.
Strategic Insight believes that its mutual fund company clients manage $10 trillion in
assets.
Strategic Insight believes that its mutual fund company clients manage 90% of all us
mutual funds assets. Specifically, the firm believes 90% of US mutual fund companies
utilize Strategic Insight, while the remaining 10% do not.
Businesses
The third section of Strategic Insights profile will outline its core businesses.
Strategic Insight serves mid-level executives primarily at the director level in distributionoriented departments, including strategic planning, project management & development,
sales & marketing, and library & information.
94
Strategic Insight recognizes that it serves mid-level executives. As Avi Nachmany states
in 2006, Our core clients are the business intelligence people inside a firm as well as
product management, development, and saleswe also work with firm boards.
Strategic Insight organizes its businesses into database & web site-based services and
research & consulting services. Specifically, details include:
Database & Web-Site Services
Mutual funds
- Sim Fund 4.0
- Fund filing.com 4.0
Variable annuities
- Sim Fund 3.0 variable annuities
- Annuity insight.com
Compliance assistance
Research & Consulting Services
SIonline.com
On-demand research
Consulting
Fee & expense consulting
Valued asset consulting
StrategicInsightGlobal.com
Board of director services
Strategic Insights databases & web-based services include its core Sim Fund 4.0
offering. Specifically, details include:
Sim Fund 4.0
-Fund Filing.Com 4.0
-Sim Fund 3.0 Variable Annuities
-Annuity Insight.Com
-Compliance Assistance
-Strategic Insights core mutual fund database is Sim Fund 4.0, which offers monthly
cash flows & assets and other actionable information, including fee benchmarking, subadvisory maps and, Training on Demand.
Strategic Insight believed that its Sim Fund 4.0 database is used by the mutual fund
companies managing over three-quarters of all mutual fund assets. Specifically, the firm
believes that 85% of all mutual fund companies utilize Sim Fund 4.0, while 15% do not.
95
Strategic Insight has also created a private label version of Sim Fund 4.0.
Strategic Insights Sim Fund 5.0 will be introduced in 2007 and include numerous
enhancements, including Microsoft Vista Support.
Strategic Insight has also created Sim Fund Asia and Sim Fund Europe.
Strategic Insight conducts a Sim Fund enhancement survey.
Strategic Insights Fund Filing 3.0 is a stand alone web site offering daily reports on
mutual funds changes. The web site also offers a weekly synopsis, new mutual fund
registration, monthly study of new mutual funds and, Edgar filings retrieval system.
Strategic Insights Sim Fund 3.0 variable annuities is its core variable annuities
database, which offers monthly cash flows & assets and other actionable information,
such as Comprehensive Monthly Updated Sub-Advisory Data, Detailed Fee Ratios and,
Contract Features.
Strategic Insight is planning enhancements for its pending offer of Sim Fund 5.0
variable annuities, including the integration of Morningstar data. Specifically, details
include:
Morningstar Data Integration
Official performance & rankings
Performance benchmarks
Rating & risk scores
MPT statistics
Portfolio corporation
Other Enhancements
Pre-formatted graphics & reports
Improved search interface
Floating bar performance graphs
New fee & expense graphs
Strategic Insights annuity insight.com is a stand alone web site, providing daily & weekly
synopses of variable annuity innovations. It features 1,300 contracts and 50,000 subaccounts.
Strategic Insights Annuity Insight.com is subscribed to by almost all of the top twenty
insurance companies. Specifically, 95% utilize annuity insight.com, while 5% do not.
Strategic Insights Annuity Insight.Com is exploring new ways to use data.
Strategic Insight provides compliance assistance.
Strategic Insight recognizes that it does not really offer consulting services. We do not
consult in any traditional way.More of a sounding boardand almost all of our
revenues are subscription-based with the majority driven by our technologies and
databases, notes Avi Nachmany of Strategic Insight in 2006.
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Strategic Insight research & consulting services include its on demand research and
several online tools. The firms additional offerings outside of the growing demand for on
demand research are fee & expense consulting, variable annuities consulting, Strategic
Insight Global.com, and board of directors services.
Strategic Insights mutual fund research suite is used by the managers of almost all US
mutual fund assets. Specifically, 90% utilize the mutual fund research suite, the
remaining 10% do not.
Strategic Insights SI Online.Com is its library of 200 prior studies on products,
distribution, and fees.
Strategic Insight has published 200 studies.
Strategic Insight provides on demand research, which is its responsive solution for its
clients information requests.
Strategic Insight offers consulting on industry trends, strategy, marketing, & distribution,
as well as online industry briefings.
Strategic Insight provides fee & expense consulting, including understanding the data,
analytical integrity, hard to find historical data, and integration with Securities &
Exchange Commissions Edgar.
Strategic Insight provides variable annuities consulting, including monthly studies, fees,
and contract innovations, which help firms target sub-advisory opportunities.
Strategic Insight offers a separate web site called Strategic Insight global.com for
investment companies worldwide.
Strategic Insights Strategic Insight global.com is used by 45 of the worlds largest
investment management companies.
Strategic Insight provides board of directors services, including prism reviews and
mutual fund insight.com. Prism Reviews (15c Analytics) is for advisory contract renewal,
while Mutual Fund Insight.com is for perspectives & insights in the mutual fund industry.
Strategic Insight publishes about 100 studies per year.
Strategic Insight published a monthly online & print newsletter called Windows.
Strategic Insight provides a dedicated research analyst to each client.
Strategic Insight offers Sim Fund training at both the basics and intermediate levels.
Strategic Insight appears to work well with other entities, as it has data alliances with
Lipper, Morningstar, and others, including Investment Company Institute, Lipper
(Reuters), Micropal, Morningstar, Standard & Poors (Thomson Corporation), and
Securities & Dealings.
Organization & Ownership
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The final section of Strategic Insights profile will address is organizational structure &
ownership.
Strategic Insight has a relatively unattractive web site with conflicting data. Its feature
area of navigation for Research & Reports, Trend Analytics, Sim Fund Databases, Board
Services, Global Research, Valued Annuities, and Securities & Exchange Commission
Research.
Strategic Insights executive team includes Executive Vice President Avi Nachmany.
Strategic Insight seems very dependent on the personal reputation of Avi Nachmany.
He leads all on-site presentations and has the only pictures on the web site. Others are
positioned as analysts or customer service representatives.
Strategic Insights research analysts all appear to be assistants to Executive Vice
President Avi Nachmany.
Strategic Insight seeks industry knowledge in the new hires.
Strategic Insight seeks recruits with Sim Fund experience.
Strategic Insight has a squishy policy regarding not hiring client analysts.
Strategic Insight allows its research analysts to tele-commute.
Strategic Insight ask recruits to fax a hand written cover letter.
Organization & Ownership
The final section of Asset Internationals profile will address is organizational structure &
ownership.
Asset International has a web site.
Asset International is led by its CEO.
Asset International is privately owned.
AT Kearney
AT Kearney was founded in 1926 by Tom Kearney. The firm is based in Chicago, IL. It
has operations in 34 countries with 2,500 professionals and 1,700 consultants. The firm
generates $798 million in revenues, specifically $378,000 in revenues per professional
and $450,000 in revenues per consultant. AT Kearney is led by Chairman Paul
Laudicina. Their web site is www.atkearney.com.
History
The first section of AT Kearneys profile will explain the key historical events in the firms
development.
AT Kearney was founded in 1926 and has evolved through three phases, including its
early, EDS, and Post-EDS phase.
98
Early Phase
The first phase of AT Kearneys development was its early phase from 1926 to 1994.
AT Kearney began as a branch of McKinsey & Company in 1926. It was founded by
Tom Kearney.
EDS Phase
The second phase of AT Kearneys development was its EDS phase from 1995 to 2005.
AT Kearney was acquired by EDS in 1995.
AT Kearney former CEO Fred Steingrabers departure caused some controversy with
EDS in 2002.
AT Kearney and EDS became involved in a legal battle following the controversy in
2002. AT Kearney was sued by EDS for expense fraud. AT Kearney denied the
allegations and countersued EDS. EDS claimed CEO Dick Brown and CFO James
Daley were trying to artificially boost profits by severing firms financial obligations to
several senior AT Kearney executives. AT Kearneys countersuit alleges that EDS was
attempting to force Steingraber and others to voluntarily end their employment. The
legal battle provided the groundwork for an extensive, potentially embarrassing series of
depositions for EDS.
AT Kearney and EDS legal battle in 2002 had several negative effects, including low
staff morale, difficulty doing business with clients and investors, and decreased
recruiting.
Post-EDS Phase
The third phase of AT Kearneys
development was its post-EDS
phase from 2006 to 2008.
AT Kearney Professionals
2,500
2,300
Statistics
The second section of AT
Kearneys profile will review
some key statistics regarding
the firm.
AT Kearney has operations in
34 countries.
1996
2008
Source: 12/98 Wet F eet Press; Tiburon Research & A naly sis
99
AT Kearney Has a Detailed Web Site that is Divided into Five Sections,
Including Our Expertise, Publications, Careers, About Us, and Contact Us
AT Kearney
Web Site
AT Kearney
Web Site
Publicat ions
Careers
About Us
Co ntact Us
Source: 4/1/ 08 AT Kearney Web Site; Tiburon Res earch & Analysis
100
101
102
Founding Phase
The first phase in the development of Bain & Company was its founding phase from
1974 to 1989.
Bain & Company was founded by Bill Bain, a Boston Consulting alumnus, in 1973.
Turmoil Phase
The second phase in the development of Bain & Company was its turmoil phase from
1990 to 1996.
Bain & Company founders sold 30% of the firm to an employee stock option plan in
1996. It has been stated that
Bain & Company Found ers Sold 30% of the Firm to an Employee
the deal was based on the
Stock Option Plan in 1996
assumption Bain & Company
would continue growing at 50%
Bain & Company Stock Ownership
annually; this saddled the firm
By Shareholder
with $25 million in annual
interest payments.
Emp loyee
Sto ck Op tion
Plan
30%
B ai n &
Co mpany
Fo unders
70%
Not e:
Another source said t hat t he deal was based on t he assum pt ion Bain & Company would continue growing at 50% annually ; this saddled t he firm with $25
million in annual int erest payment s
Source: Tiburon Research & A nalysis
Bain & Company retreated to its entrepreneurial roots in 1997. During this retreat, the
firm continued to select client projects in which the client would generate results.
Bain & Company applied its results driven philosophy to new ventures such as private
equity consulting in 1997.
Statistics
The second section of Bain & Companys profile will review some key statistics
regarding the firm.
Bain & Company has operations in 25 countries, up 25% since 2006.
Bain & Company has 38 offices, up 22% since 2004. Specifically, the firm operated 31
offices in 2004, 32 in 2006, and 38 in 2007.
Bain & Company employs almost 4,000 employees, up 200% since 1995.
Specifically, in 1995 the firm employed 1,200 employees in 1996 1,350 were employed,
2,400 in 2000, 1,800 in 2002, 2,800 in 2004, 3,200 in 2006, and 3,700 in 2007. Bain &
Company had 600 US employees in 1995 and 675 in 1996.
Bain & Company professionals are about half located in the United States.
103
Bain & Company generates over $1 billion in revenues, up 70% since 2002.
Specifically, the firm generated $375 million in revenues in 1995, $450 million in
revenues in 1996, $700 million
Bain & Company Generates Over $1 Billion in Revenues, Up 70%
in 1999, $810 million in 2000,
Since 2002
$825 million in 2001, $761
Bain & Company Revenues
million in 2002, and $1.3 billion
($ Millions)
in 2006.
$1 ,30 0
$ 810
$ 825
200 0
20 01
$ 700
$76 1
$ 450
$3 75
19 95
19 96
1 999
20 02
2 006
Source: 4/25/08 B ain & Company Web Site; 2/2/05 Hoovers. Com; 6/ 03 Consult ants News; 2/ 2/ 00 New Y ork Tim es ; 12/ 98 Wet Feet Press ; Tiburon Research &
Analys is
Bain & Company generates over $400,000 in revenues per consultant. Specifically they
generated $419,000 in revenues per consultant in 2007.
Businesses
The third section of Bain & Companys profile will outline its core businesses.
Bain & Companys consulting has ten business groups, including Change Management,
Corporate Strategy, Cost & Supply Chain Management, Growth Strategy, and
Information Technology. The remaining business groups are Mergers & Acquisitions,
Organization, Performance Improvement, Private Equity, and Revenue Enhancement.
Bain & Companys Consulting Services are organized into ten business groups,
including Change Management, Corporate Strategy, Cost & Supply Chain Management,
and Growth Strategy. Specifically, details include:
Change Management
Performance improvement
Merger integration
Organizational management
Corporate Strategy
Mission & vision
Portfolio strategy
Role of the center
Shareholder value
104
Strategic planning
105
Pricing
Product management
Sales & channel management
106
107
100 projects
Delivered on a pro bono basis
Services delivered through firms Bridgespan Group (firms non-profit
subsidiary)
Retail
500 projects
Customer loyalty management, pricing strategies, & supply chain strategies
Provides retail business portfolio management strategies through Private
Equity group
Services
Operations management, product line profitability, & organization design
Technology
Customer retention, pricing, supply chain management, & reengineering
efforts
Provides technology business portfolio management strategies through
Private Equity group
Telecommunications
500 projects
Customer retention, pricing policies, supply chain management, growth
strategies, & mergers & acquisitions
Provides tele-communications business portfolio management strategies
through
Private
Bain & Companys Finan cial Services Consulting Projects Make Up
Almost One-Quarter of the Firms Projects
Equity group
Bain & Company Projects
By Industry
Transportation Services
Joint
ventures,
acquisitions,
divestitures,
distribution
&
channel strategies, &
market & customer
segment analysis
Ot her In dustri es
75%
108
Bain & Company claims six key differentiating factors, including its hypothesis driven
approach to strategy consulting, maniacal focus on results, and no conflict of interest.
Specifically, details include:
Hypothesis Driven Approach to Strategy Consulting
Tries to define business(es) of clients, and then identify and evaluate the set
of options that will maximize enterprise value
Company sought to first understand the business model and key pressures
Evaluation of key strategic options that will maximize enterprise value is
critical
Compiles a database of diagnostic fact base, strategic options &
evaluation, and strategy implementation issues
Supports the investment decision and valuation by undertaking a focused,
and thorough assessment of competitors
Senior level management will work with client team to integrate plans
Maniacal Focus on Results
-No Conflicts of Interest
-Fast, Efficient, Ability to Meet Aggressive Deadlines
-Data-Driven
Creates powerful analysis based on cold hard facts
Less to theorize new frameworks or author academic papers
Data-intensive models preferred over conceptual or theoretical approaches
Less Emphasis on Client Face Time
Discourages unnecessary travel
Typical Bain office travel
20% involved in heavy travel projects (3+ days per week)
40% travel 2-3 days per week
40% travel 1 day or less
Firm claims to be accommodating to individual preference for frequency of
travel
Prefers consultants to be in the best place to get work done rather than onsite
all the time
Bain & Company is focused more on entrepreneurial clients as compared to their peer
firms, as seen in their principles, measures of success, help to beat clients competition,
and focus on clients results. Specifically, details include:
Founding Principle
Firm was founded on the principle that consultants must measure their
success in terms of their clients financial results
Success is Measured by the Clients Financial Results
Measures success in terms of its clients financial results
109
110
Bain & Company claims to win almost two-thirds of competitions with other firms for
specific work. Specifically, the firm claims that they win 72% of specific work projects
that they compete for against other competition. Bain & Company competitors are other
blue chip and large firms, including McKinsey & Company, Boston Consulting Group,
Booz, Allen, & Hamilton, Oliver Wyman, Monitor, and AT Kearney.
Bain & Company claims that its clients outperform the Standard & Poors three-to-one.
Bain & Companys subsidiary Bridgespan Group is dedicated to helping non-profit
organizations. The group has offices in Boston, MA and San Francisco, CA. The group
had 10 clients in 2000. The Bridgespan Group was founded by Tom Tierney (Bain
Managing Director), Paul Carttar (Bain Consultant), and Jeffrey Bradach (Harvard
Professor). The Managing Director of the group is Jeffrey Bradach.
Bain & Companys subsidiary Bridgespan Group has a non-traditional approach to pro
bono work. It is radically different from the traditional in-and-out philosophy of pro bono
work. The group has mandatory follow-ups for each Bridge Group project to ensure
knowledge capture.
Bain & Companys subsidiary Bridgespan Group staffs twelve of its best consultants.
These consultants commit 6-12 months for pay cuts of 20%-80%. It is an opportunity for
socially redeeming work.
Over one-quarter of Bain & Company consultants have applied for Bridgespan Group
projects. Specifically, 30% of the firms consultants have applied for Bridgespan Group
projects, while the remaining 70% have not applied for these pro bono projects.
Bain & Company is affiliated with Bain Capital, a venture capital firm. Bain Capital was
started by former Bain employees. Bain partners have invested a portion of earnings in
Bain Capital.
Bain & Company publishes articles, briefs, and books written by employees and
executives. Specifically, details include:
Articles
Harvard Business Review
Harvard Management Update
Mergers & Acquisitions: The Dealmakers Journal
MIT Sloan Management Review
Briefs
Can Deal Making Solve Your Growth Problem?
By David Harding & Sam Rovit
CRM Done Right
By Darrell Rigby & Diane Ledingham
Making Tough Calls on Deals
By Geoffrey Cullinan
The Supersizing of the Software Industry
By Simon Heap, Vince Tobkin, & Franz Seidensticker
When to Walk Away From a Deal
111
Books
Maximum Leadership: The Worlds Leading CEOs Share their Five Strategies
for Success
Co-written by Bain directors Charles Farkas & Philippe De Backer
The Loyalty Effect: The Hidden Force Behind Growth, Profits, & Lasting
Value
Written by Bain director Frederick Reichheld
Best-seller
Aligning the Stars: Organizing Professionals to Win
By Jay Lorsch & Thomas Tierney
Beyond the Core
By Chris Zook
E-Brand Strategy by Miwa Suto
Loyalty Rules! How Todays Leaders Build Lasting Relationships
By Frederick Reichheld
The Corporate Brand
By Ryoji Itoh
Organization & Ownership
The final section of Bain & Companys profile will address is organizational structure &
ownership.
Bain & Company has a detailed web site that is divided into eight sections, including
About Bain, Consulting Expertise, Publications, Join Bain, Alumni, Contact, Offices, and
Extranet.
Bain & Company is led by its chairman, Orit Gadiesh. Other top executives included
Worldwide Managing Director Steve Ellis. Chris Zook is Director of the Worldwide
Strategy Practice, David Shpilberg is Director of the IT Practice, Charles Farkas is
Director of the Financial Services Practice, Darrell Rigby is Director of the Worldwide
Retail Practice, Frederick Reichheld and Phillipe DeBacker are Directors, and Cheryl
Krauss is Director of Public Relations. Founder Bill Bain was a former Vice President at
Boston Consulting Group. Orit Gadiesh was the third woman hired at Bain; she is a
former member of the Israeli army.
Bain & Company has a classic management consulting firm structure, with partners,
consultants, and associate consultants. A typical Bain & Company client team consists
of 4-8 people from various levels.
Bain & Company has a strong culture akin to a large extended family, including
employee and alumni firm identification, firm youthfulness in age and attitude, strong firm
processes, and ownership mindset among employees. Specific details include:
Personal Identification with the Firm
Employees and alumni refer to themselves as Bainies or Bainiacs
Youthful Compared to Peers in Age and Attitude
Work hard, play hard philosophy
Frequent after-hours socializing
112
Strong Processes
The Bain way of doing things
Ownership
Challenges employees to think like owners
Bain & Company is a coveted employer, consistently being ranked in the top five most
desirable firms to work for by MBA candidates. It is the best firm to work for according to
a survey of 4,000 consultants.
Bain & Company typically hires about 200 MBAs and another 200 undergraduates
annually. In addition, it also considers recent law graduates.
Bain & Companys training for both consultants and associate consultants is known for
being intensive yet fun. Specifically, details include:
New Consultants Training
Notoriously fun and intensive
Held in exotic locations
Jamaica
Monaco
Florida
Associate Consultants Training
Ten day crash course in business school
Held in the Northeast
Marthas Vineyard
Cape Cod
Bain & Company employees are very satisfied with their training & development
opportunities. Specifically, 98% of Bain employees reported being very satisfied &
satisfied with their training and development opportunities while 2% were neutral.
Bain & Company develops a twenty year career path that centers around individual
potential and achievement. This culture extends to former employees, in that the firm
provides generous transition packages to departing employees.
Bain & Company has two types of employees, lifers and transitioners. Lifers tend to
embody the Bain culture, whereas transitioners tend to stay for 2-3 years and then leave
for entrepreneurial roles.
Bain & Company offers employees the flexibility to allow them to realize their full
potential through externships, sabbaticals, extended part-time employment, and pro
bono projects. Specifically, details include:
Externships
Work for Bain clients for extended periods
113
Argues that their number and spreadsheet skills provides clients with fresh
data and insight
Company can develop customized strategies from fresh information
Sabbaticals
World travel
Education
Extended Part-Time Employment
-Pro Bono
-Bain & Company tries to satisfy clients demands for seasoned professionals by bringing
in new partners. In this regard it brought on twenty new partners, some poached from
McKinsey & Company and the Boston Consulting Group.
Bain & Companys consultants are often staffed on two projects at once, to increase
exposure to more industries and business issues, and to people within the firm.
Specifically, details include:
Exposure to Industries and Business Issues
-Coaching Opportunities
Broader opportunities to coach and be coached by more people within the
firm
Bain & Companys consulting lifestyle is intense, with an average of sixty hours per work
week and a deadline driven approach.
Bain & Company professionals are less than one-quarter involved in heavy travel
projects. Specifically, 20% are involved in heavy travel projects, 40% involved in
projects requiring two to three days of travel per week, and the remaining 40% involved
in projects requiring one day or less of travel per week.
Bain & Company employees rate their career experience the highest among strategy
consulting firms.
Bain & Company employees find it easy to deliver on their commitments. Specifically,
62% report that they are always able to deliver on their commitments, while 36%
reported that they are able to deliver on commitments only sometimes, and 2% reported
that they very frequently are able to deliver on commitments.
Bain & Companys employees believe in their firms leadership, complimenting strategy
and direction, work environment, mentorship, and lack of glass ceiling. Specifically,
details include:
Strategy and Direction
They understand the firms strategy and direction
114
Work Environment
Consultants believe that their managers create a positive work environment
The right people are being matched with the right projects
Mentorship
Bainies find that their managers act more like mentors than bosses
Bainies find their mentors very valuable
Lack of Glass Ceiling
Employees do not feel there is a glass ceiling for women
Bain & Company employees believe that their work makes a positive impact on clients.
Specifically, 72% believe that their work always makes a positive impact on clients, while
the remaining 28% believe that their work makes a positive impact most of the time.
Bain & Company employees find their mentors very valuable. Specifically, an
overwhelming 98% of Bain employees find their mentors to be excellent and good, while
2% regard their mentors as average.
Bain & Company employees believe that its management has done an excellent job
handling layoffs. Specifically, 98% of Bain employees believe that its management has
done an excellent and good job handling layoffs, while 2% regarded the handling of
layoffs as average.
Bain & Company has three formal employee diversity groups, including Bain Gay &
Lesbian Association for Diversity, Women at Bain, and Blacks at Bain.
Bain & Companys alumni include Scott Cook and Adrian Slywotsky. Scott Cook is the
founder and chairman of Intuit, while fellow alumnus Adrian Slywotsky is the founding
partner of Corporate Decisions.
Bain & Companys firm reputation is down slightly, from 8.2 in 2001 to 7.6 in 2002.
Bain & Company is privately owned by its partners.
Balanced Scorecard
Balanced Scorecard was founded.
History
The first section of Balanced Scorecards profile will explain the key historical events in
the firms development.
Balanced Scorecard was founded and has evolved through three phases, including its
early phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Balanced Scorecard was its early phase.
Middle Phase
115
The second phase in the development of Balanced Scorecard was its middle phase.
Recent Phase
The third phase in the development of Balanced Scorecard was its recent phase.
Statistics
The second section of Balanced Scorecards profile will review some key statistics
regarding the firm.
Businesses
The third section of Balanced Scorecards profile will outline its core businesses.
Balanced Scorecard has several various businesses.
Organization & Ownership
The final section of Balanced Scorecards profile will address is organizational structure
& ownership.
Balanced Scorecard has a web site.
Balanced Scorecard is led by its management.
Balanced Scorecard is privately owned.
BDO International
BDO International was founded in 1910 and is based in Brussels. It has a presence in 80
countries, 16,078 employees, 2,182 partners, 490 member firms, and generates $2.4
billion revenues.
History
The first section of BDO Seidmans profile will explain the key historical events in the
firms development.
BDO International was founded in 1910 and has evolved through three phases, including
its early, middle, & recent phases.
Businesses
The second section of BDO Internationals profile will outline its core businesses.
BDO International has several businesses, including its US arm, BDO Seidman.
BDO Seidman
BDO Internationals first business is its BDO Seidman, which is its US Arm. BDO
Seidman was founded in 1910 and is based in Chicago, IL. The firm has 36 US offices,
1,972 US employees, 1,243 US professionals, and 281 US partners. BDO Seidman
generates $350 million in US revenues. Denis Field is CEO of BDO Seidman.
BDO Internationals BDO Seidman has 36 offices.
BDO Internationals BDO Seidman has almost 2,000 employees.
116
117
B/D Search
Organizational Chart
Bill McGovern
CEO
Bearing Point
Bearing Point has 10,764
professionals generating $2.7
billion revenues.
B ill D avenport
B usine ss
De velopment
Consultant
S andra Sm ith
Busines s
Developme nt
C ons ulta nt
Source: 4/6/09 B/D S earch Web Site; Tiburon Researc h & Analys is
History
The first section of Bearing Points profile will explain the key historical events in the
firms development.
Bearing Point was founded as KPMG Consulting in 1987 and has evolved through three
phases, including its early phase, middle phase, and recent Bearing Point phase
Early Phase
118
The first phase in the development of Bearing Point was its early phase from 1988 to
1995.
Bearing Points Predecessor KPMG was founded by Thomson McLintock & Pete
Marwick in 1987.
Middle Phase
The second phase in the development of Bearing Point was its middle phase from 1996
to 2001.
Recent Phase
The final phase in the development of Bearing Point is its recent phase from 2002 to
2008.
Bearing Point was spun-off of from KPMG in 2002. KPMG was the first Big Four firm to
divest its consulting arm, giving it an advantage in rebuilding.
Bearing Point cut 700 jobs or 25% of its newly acquired staff in 2002 after employment
expenses quickly outgrew revenue increases. Specifically, the firm laid off 25% of its
newly acquired staff, while retaining 75%.
Statistics
The second section of Bearing Points profile will review some key statistics regarding
the firm.
Bearing Point employs almost 11,000 professionals.
professionals.
Bearing Point generates $2.7
billion revenues, down slightly
since 2004. Specifically, the
firm generated $2.7 billion in
1996, $3.3 billion in 2001, and
$2.7 billion in 2002. Prior to
2002, Bearing Point was known
as KPMG.
$3.3
$2.7
$1.4
1996
2001
2002
Not e:
P rior t o 2002, Bearing Point was known as K PMG
Source: 12/02 Consulting News; 6/02 Consulting News; 12/98 Wet Feet Press; Tiburon Research & A nalysis
119
120
Best Practices was founded in 1992 to research the worlds leading companies to find
superior strategies and establish benchmarks in certain operational areas.
Middle Phase
The second phase in the development of Best Practices was its middle phase.
Recent Phase
The third phase in the development of Best Practices was its recent phase.
Best Practices Performed a study comparing call centers across all industries.
Statistics
The second section of Best Practices profile will review some key statistics regarding
the firm.
Best Practices generates $8 million in revenue.
Best Practices products business accounts for more than half of its revenues.
Businesses
The third section of Best Practices profile will outline its core businesses.
Best Practices has a number of businesses, including its direct consulting and products
business.
Direct Consulting
Best Practices first business is its direct consulting business.
Best Practices direct consulting business generates $3.6 million in revenue.
Products
Best Practices second business is its products business, which includes the selling of
reports, database access, and membership services.
Best Practices products business generates $4.4 million in revenue.
Best Practices business model has some pros and cons. Specifically, details include:
Pros
Cons
Firm has little senior-level financial industry experience
By spreading themselves across industries, Best Practices, LLC may not be
able to leverage their existing research on future projects, making their
process less efficient/economical
Irrelevant research
121
Outdated research
Best Practices has not aggressively pursued projects in the financial services industry.
Its only existing financial services research is in the areas of customer relationship
management, call centers, and relocation issues for financial institutions.
Best Practices wrote a book, entitled Benchmarking for Best Practices.
Best Practices claims competitors to be McKinsey & Company, Boston Consulting
Group, Accenture, and other boutique firms.
Organization & Ownership
The final section of Best Practices profile will address is organizational structure &
ownership.
Best Practices has a web site.
Best Practices is led by its CEO Chris Bogan.
Best Practices is privately owned.
Bill Good Marketing
Bill Good was founded.
History
The first section of Bill Goods profile will explain the key historical events in the firms
development.
Bill Good was founded and has evolved through three phases, including its early,
middle, & recent phases
Businesses
The second section of Bill Goods profile will outline its core businesses.
Bill Good has a number of businesses.
Consulting
Bill Goods final business is its consulting business.
Organization & Ownership
The final section of Bill Goods profile will address is organizational structure &
ownership.
Bill Good has a web site.
Bill Good is led by its CEO Bill Good.
Bill Good is owned by Bill Good.
Bobroff Consulting
Bobroff Consulting was founded.
122
History
The first section of Bobroff Consultings profile will explain the key historical events in the
firms development.
Bobroff Consulting was founded and has evolved through three phases, including its
early phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Bobroff Consulting was its early phase.
Middle Phase
The second phase in the development of Bobroff Consulting was its middle phase.
Recent Phase
The third phase in the development of Bobroff Consulting was its recent phase.
Statistics
The second section of Bobroff Consultings profile will review some key statistics
regarding the firm.
Businesses
The third section of Bobroff Consultings profile will outline its core businesses.
Bobroff Consulting has a number of businesses.
Organization & Ownership
The final section of Bobroff Consultings profile will address is organizational structure &
ownership.
Bobroff Consulting has a web site.
Bobroff Consulting is led by its management team.
Bobroff Consulting is privately owned.
Bob Veres
Bob Veres was founded.
History
The first section of Bob Veres profile will explain the key historical events in the firms
development.
Bob Veres was founded and has evolved through three phases, including its early
phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Bob Veres was its early phase.
Middle Phase
The second phase in the development of Bob Veres was its middle phase.
123
Recent Phase
The third phase in the development of Bob Veres was its recent phase.
Statistics
The second section of Bob Veres profile will review some key statistics regarding the
firm.
Businesses
The third section of Bob Veres profile will outline its core businesses.
Bob Veres has a number of businesses.
Organization & Ownership
The final section of Bob Veres profile will address is organizational structure &
ownership.
Bob Veres has a web site.
Bob Veres is led by its CEO Bob Veres.
Bob Veres is owned by Bob Veres.
Booz, Allen, & Hamilton
Booz, Allen, & Hamilton was founded in 1914 by Ed Booz. The firm is based in New
York, NY, and has 80 offices and 19,000 professionals generating $4 billion in revenues.
Its CEO is Ralph Shrader and its web site is www.boozallen.com.
History
The first section of Booz, Allen, & Hamiltons profile will explain the key historical events
in the firms development.
Booz, Allen, & Hamilton was founded in 1914 and has developed through four phases,
including its founding, prosperity, tragedy, and recovery phases.
Founding Phase
The first phase in the development of Booz, Allen, & Hamilton was its founding phase
from 1915 to 1943.
Booz, Allen, & Hamilton founder Ed Booz started advising the Army and businesses in
1914.
Booz, Allen, & Hamilton predecessor Booz, Fry, Allen & Hamilton was formed in 1936.
Booz, Allen, & Hamilton founders George Fry and Jim Allen Both left the partnership in
1941.
Booz, Allen, & Hamilton founder Jim Allen was convinced to come back as chairman in
1943 and was credited with building the firm.
Prosperity Phase
124
The second phase in the development of Booz, Allen, & Hamilton was its prosperity
phase from 1944 to 1969.
Booz, Allen, & Hamilton created two divisions, including its Worldwide Commercial
Business (WCB) and its Worldwide Technology Business (WTB) in 1944.
Booz, Allen, & Hamilton received substantial government consulting work beginning in
World War II and lasting from 1944 to 1970.
Booz, Allen, & Hamiltons World Technology Business primarily serviced government
institutions from 1944 to 1970.
Tragedy Phase
The third phase in the development of Booz, Allen, & Hamilton was its tragedy phase
from 1970 to 1989.
Booz, Allen, & Hamilton partners took the firm public in 1970. Financial losses
associated with buying out partners greatly hindered Boozs expansion into European
markets, giving its competitors a crucial head start.
Booz, Allen, & Hamilton public offering resulted in one-third of its partners leaving with
the IPO cash. The remaining
Booz, Allen, & Hamilton Public Offering Resulted in One-Third of its
67% of partners did not sell their
Partners Leaving with the IPO Cash
equity interest after the IPO.
Booz, Allen, & Hamilton Partners
By Public Offering Sale of Ownership
Source: 7/ 11/ 97 Financial T imes; 5/ 97 Journal of Management Consulting; Tiburon Res earch & A naly sis
Booz, Allen, & Hamilton repurchased its outstanding shares in 1976. The firm is now
privately held.
Recovery Phase
The fourth phase in the development of Booz, Allen, & Hamilton was its recovery phase
from 1989 to 2007.
Booz, Allen, & Hamilton opened two offices in Latin America in 1996. These offices are
in Lima, Peru and Santiago, Chile.
Booz, Allen, & Hamilton considered two potential changes to its management structure
in 1997 but both proposals lack appeal for an organization built upon the professional
freedom of its partners. Specifically, details include:
125
Team Proposal
Breaking the organization into teams of mini partners
Two-Tier Partnership Proposal
Creating a two-tier partnership where ordinary partners report to senior
partners
Booz, Allen, & Hamilton trimmed its Corporate Advisory Operation in Asia as part of a
new focus on technology in 2000. The firm focused on higher margin e-business as well
as consulting services for Asian Internet related firms. As payment, the firm took equity
stakes in the companies. Currently Booz, Allen, & Hamilton serves clients in Asia
primarily through satellite offices in Japan, Korea, and Australia. Interestingly, there has
been no decrease in the 290 consultants staffed in Asia.
Booz, Allen, & Hamiltons revenues increased in 2001 due to its client work in the public
sector. The firms expectation was to increase revenues due to expected rise in federal
government spending, such as the planned overhaul of the nations military and
homeland security force.
Booz, Allen, & Hamiltons strategy competitors McKinsey & Company and Boston
Consulting Group both showed declines in fiscal 2001, as their client work is skewed
more to commercial clients.
Booz, Allen, & Hamilton was hiring for engagement managers in 2007, a position that
requires an MBA and one year experience in large scale strategic business
transformation consulting. Engagement managers direct & manage large scale strategic
business transformation consulting projects in a team environment for multi-national
corporations. They also perform
Booz, Allen, & Hamilton Generates $4 B illion in Revenues, Up 135%
related thought leadership in
Since 2002
developing creative solutions to
challenging business problems
Booz, Allen, & Hamilton Revenues
($ Millions)
focusing on strategy, cost
reduction, and organizational
$4,000
restructuring & transformation.
Statistics
The second section of Booz,
Allen, & Hamiltons profile will
review some key statistics
regarding the firm.
Booz, Allen, & Hamilton has 80
offices.
$1,555
$1,700
$720
1996
2001
2002
2006
Source: 4/ 25/ 08 Booz Allen Hamilt on Web Sit e; 6/03 Consult ant s News; 12/98 Wet Feet P res s; Tiburon Research & A naly sis
Booz, Allen, & Hamilton employs 19,000 professionals, up more than 200% since 1996.
Specifically, the firm had 5,685 professionals in 1996.
Booz, Allen, & Hamilton generates $4 billion in revenues, up 135% since 2002.
Specifically, in 1996 the firm generated $720 million in revenues, $1.555 billion in 2001,
and $1.7 billion in 2002.
126
Booz, Allen, & Hamilton generates more than half of its revenues in the US. Specifically,
the firm by location generates 58% of its revenues from the US market, while the
remainder 42% is generated by the firm outside of the US market.
Booz, Allen, & Hamilton generates half of its revenues from the public sector. Private
sector clients are responsible for the remaining 50% of revenues generated by the firm.
Booz,
Allen,
&
Hamilton
generates over $125,000 in
revenues
per
professional.
Specifically, in 1996 the firm
generated
$127,000
per
professional.
Booz, Allen, & Hamilton Generates More than Half of its Revenues
in the US
Booz, Allen, & Hamilton Revenues
By Location
Non-US Market
42%
Businesses
The third section of Booz, Allen,
& Hamiltons profile will outline
its core businesses.
Booz, Allen, & Hamilton is
organized into two businesses,
Including
its
Worldwide
Commercial Business and its
Worldwide Technology Business.
US Market
58%
Source: 12/98 Wet F eet Press; Tiburon Research & A naly sis
127
Booz, Allen, & Hamilton generates almost one-third of its revenues from its operations
management practice. Specifically, 27% of the firms revenue is generated from its
operations management practice. Other practices account for the remaining 77%.
Booz, Allen, & Hamiltons Information Technology Group provides several services,
including business process reengineering, cost restructuring, and executive information
systems. In addition to these services the firm also provides consulting services in the
area of strategic systems design & systems implementation.
Booz, Allen, & Hamiltons Worldwide Commercial Business has four industry practices,
including communications, media, & technology, consumer & engineered products,
energy & chemicals, and financial & health services.
Booz, Allen, & Hamiltons Communications, Media, & Technology practice services a
wide variety of industries, including broadcast & cable networks, cable & satellite
services, and computer, software, & electronics manufacturers. Specifically, details
include:
Broadcast & Cable Networks
-Cable & Satellite Services
-Computer, Software, & Electronics Manufacturers
-Interactive Media
CD Rom, video games, online services
Motion Pictures & Video
-Newspapers, Magazines, & Book Publishers & Information Service Providers
-Professional Sports Franchises
-Recorded Music
-Telecommunications Providers & Manufacturers
-These & Live Entertainment
--
128
Booz, Allen, & Hamiltons Consumer & Engineered Products practice services includes
aerospace manufacturers, airlines & travel-related businesses, and automotive vehicle
manufacturers. Specifically, details include:
Aerospace Manufacturers
-Airline & Travel-Related Businesses
-Automotive Vehicle
-Consumer Durables
Building products, appliances, furniture
Consumer Packed Goods
-Consumer Services & Retail
-Food Product Companies
-Major Engineered Products
Farm equipment, locomotives, etc.
Product Distribution & Wholesaling Businesses
-Booz, Allen, & Hamiltons Energy & Chemicals practice services several industries,
including electric & gas utilities, energy equipment & services suppliers, and engineering
firms. Other practice areas in the firms Energy & Chemicals practice include services to
government, large chemical groups, major oil & gas companies, medical devices &
biotechnology companies, pharmaceutical manufacturers, and specialty & diversified
natural resources companies.
Booz, Allen, & Hamiltons Financial & Health Services practice services a variety of
industries, including brokerage houses, commercial & investment banks, and diverse
financial services firms & governments. The firm also provides services to insurance &
health care companies.
Worldwide Technology Business
Booz, Allen, & Hamiltons Worldwide Technology Business is organized into several
teams, including defense, national security, civil, transportation, international, and
information technology.
Booz, Allen, & Hamilton has four key strengths, including its unique business strategy,
leadership role in strategic security consulting, strong reputation, and specialists
consultants. Specifically, details include:
129
Booz, Allen, & Hamiltons firm reputation is down from 7.7 to 6.7.
Booz, Allen, & Hamilton manages its information with Knowledge-On-Line (KOL), a webbased document management program. KOL is an intranet system that allows
consultants to access data, analyses, business intelligence, and best practices
instantaneously. The information is compiled, managed, and quality-controlled by
knowledge managers.
130
Booz, Allen, & Hamilton believes that recessions provide an opportunity for companies
to become more efficient. The firm maintains that companies must know whether they
have a good idea that doesnt succeed due to the economy or a bad idea that cant
succeed in any economy. The further believe that in times of expansion, inefficiencies
can arise from rapid growth or mergers & acquisitions activities. In contrast, a recession
allows the CEO to clean out inefficiencies.
Booz, Allen, & Hamilton created Aestix to help organizations realize its e-business
potential.
Booz, Allen, & Hamilton publishes an internet insurance study. The study is an annual
160-page report examining the online strategic positioning of every major insurance firm
and forecasting the industrys future. The free study has helped the firm win new
insurance clients, as well as build the firms reputation in the financial services industry.
It is the most comprehensive strategic thinking on the industry and was the most
requested report the firm published in 2000.
Booz, Allen, & Hamilton gives an annual award, the Professional Excellence Awards.
The award is given to consultants whose work has had a significant impact on clients
and the firms own development and vision 2000 goals. 97 people received the award in
1998.
Booz, Allen, & Hamilton publishes a magazine called Strategy + Business. The
magazine focuses on current topics of emerging importance to business and policy
leaders worldwide. The features are heavily dependent on research and real-world
cases. Proposals are accepted with a short summary of thesis along with a short author
biography. The editor-in-chief of the magazine is Art Kleiner. Booz, Allen, & Hamilton
also publishes a series of books on business strategy under the Strategy+Business
name.
Booz, Allen, & Hamilton identified zealots as the next centurys difference makers in the
field of management. Specifically, details include:
Companies Benefit
Not all CEOs are zealots, but when they are, the company will benefit
Hard to Find
Enough imagination to envision a new kind of product or service
Enough moral courage to take a stand on what has not been tried before
Enough operational knowledge to translate the vision and stand into action
Hard to Define
-Booz, Allen, & Hamilton views enterprise resilience as the key to a good business
security strategy. In this regard, the firm tries to first understand the value propositions
and core drivers of the business. It then seeks to uncover key vulnerabilities or shocks
that may happen to an enterprise. Examples of such issues that may shock the system
include accounting irregularities and terrorist attacks.
131
Booz, Allen, & Hamilton believes that people at all levels will be the key capital of the
21st century. Specifically, details include:
Clear and Consistent Message
Needs to be communicated at all levels
Learning Organizations
Some believe companies will need to be learning organizations, dedicated to
freeing the minds of their employees
More Human Oriented
Companies need to be more human-oriented instead of machine-oriented
Booz, Allen, & Hamilton has worked with a diverse group of clients in both the private
and public sectors, including American Express, Blue Cross & Blue Shield, and Boeing.
Specifically, details include:
Private Sector
Abbott Laboratories
American Express
Blue Cross & Blue Shield
Boeing
Caterpillar
Chevron
Ford Motor
Deutsche Telekom
General Electric
Motorola
Paramount Communications
Procter & Gamble
United Airlines
Public Sector
Chicago Transit Authority
Dallas Symphony
Environmental Protection Agency
Federal Aviation Administration
Government of Peru
Internal Revenue Services
Museum of TV & Radio
The Kingdom of Saudi Arabia
The Pentagon
United States Congress
Booz, Allen, & Hamilton has been engaged by commercial clients to perform a myriad of
tasks, including organizing the National Football League, advising the breakup of Ma
Bell, and restructuring Nissan. Specifically, the firm helped organize the NFL in the
1960s and helped shape Nissan into its present form.
132
Booz, Allen, & Hamilton claims that over three-quarters of its business comes from
repeat customers. Specifically, 85% of the firms business is from repeat customers,
while the remaining 15% is business from new customers.
Booz, Allen, & Hamilton is contracted by numerous US government agencies as well as
foreign governments. Specifically, details include:
The Pentagon
Booz, Allen, & Hamilton is Contracted by Numerous US Government
Agencies as Well as Foreign
Saudi Arabia
One of the firms largest clients
Tasked with building almost from scratch the Saudi Arabia navy, known as
the Saudi Naval Expansion Project (SNEP)
IRS
Milwaukee, WI
Engaged by the city to help its officials deal with potentially challenging
situations
Conducted simulation games that helped county officials explore possible
solutions to problems they faced
Similar simulations were conducted on behalf of corporate clients for between
$250,000 to $500,000
Organization & Ownership
The final section of Booz, Allen, & Hamiltons profile will address is organizational
structure & ownership.
Booz, Allen, & Hamiltons web site is very impressive, and is divided into seven sections,
including About Booz Allen, Capabilities, Careers, Ideas & Insights, Contracts, News &
Media, and Alumni. The web site careers link is the weakest of the four blue chip firms,
lacking the depth in description of a Booz, Allen, & Hamilton career.
Booz, Allen, & Hamilton is led by CEO Ralph Shrader. Other leaders at the firm include
Dan Lewis Managing Director for Global Commercial Markets, Mark Generencses
Managing Director for Global Government Markets, Klans Mattern Managing Director for
Global Integrated Markets, General Counsel Daniel Idzik, Dennis Doughty Managing
Director for Global Functional Capabilities, Chief Operating Officer Brian Dickie, and
Chief Financial Officer Martha Clark Goss. Also of note is the fact that Booz, Allen, &
Hamilton partner James Woolsey was the former director of the CIA.
Booz, Allen, & Hamiltons alumni include Jonathan Bush and Tony Prophet. Specifically,
details include:
Jonathan Bush
CEO Aetna Healthcare
133
Tony Prophet
CEO, Honeywell Power Systems
Jim Dolphin
President, American Marine Advisor
Sam Hill
President, Helios Consulting Group
Booz, Allen, & Hamilton has a two-part interview process that relies on case interviews
to test a candidates analytical abilities. Initially, the candidate submits an application
and the first round is a campus interview. The second round is an office interview where
multiple, back to back interviews conducted by the people from the practice group of
choice occurs. Sometimes a third round office interview is conducted before a candidate
is hired.
Booz, Allen, & Hamilton typically hires 175 MBAs and 125 undergraduates each year.
The firm recruits from leading universities and expected to hire 175 new MBAs in 19971998. The firm also expected to hire 125 new undergraduates in 1997-1998, from its
recruiting at top universities around the world.
Booz, Allen, & Hamilton consultants are paid less than their rivals.
Booz, Allen, & Hamilton consultants starting salary of MBAs in 1997 was $83,000$88,000. Newly hired MBAs receive a $20,000 signing bonus and their year end bonus
can be up to 20% of salary.
Booz, Allen, & Hamilton consultants starting salary of undergraduates in 1997 was
$48,000-$55,000, plus year end bonus. The firms junior consultants tend to have a
lower starting salary than rivals.
Booz, Allen, & Hamilton consultants receive no bonuses until they become level four
senior associates.
Booz, Allen, & Hamilton promotion process seems perplexing to its employees. Factors
considered include individual competency, business impact, and market conditions.
Booz, Allen, & Hamilton offers its employees many benefits, including tuition, training,
sick leave, and gym & day care. Specifically, details include:
Tuition
Up to $5,000
Training
Up to $2,500
Sick Leave
Six months fully paid
Gym & Day Care
--
134
135
Booz, Allen, & Hamilton tries to improve the lifestyle demands of the consulting by
lessening the inherent strain of the profession. Specifically, details include:
Fridays
Are spent in the home office
Mondays
No client presentations are scheduled
Work Week
The average work week is about 55-60 hours
Booz, Allen, & Hamilton promotes its diversity program.
Booz, Allen, & Hamilton offers a Why its Great to Work at Booz, Allen, & Hamilton
program.
Booz, Allen, & Hamilton employees very frequently deliver on commitments.
Specifically, 51% of the firms employees very frequently deliver on commitments, while
39% believe they the always deliver on commitments. Only 8% report that they
sometimes deliver on commitments, while an even smaller amount, 2%, report that they
seldom or never deliver on their commitments.
Booz, Allen, & Hamilton employees believe the firms management of layoffs was good.
Specifically, 74% of employees believe the firms management of layoffs was excellent
or good, while 14% reported management handling of layoffs as average, and 12%
reported the handling as fair or poor.
Booz, Allen, & Hamilton employees are very satisfied with their flexible work
arrangement. Specifically, 89% of employees are very satisfied & satisfied with their
flexible work arrangements, while 6% reported to be neutral regarding their flexible work
arrangements, and an even smaller amount or 5% reported being unsatisfied & very
unsatisfied with their flexible work arrangements.
Booz, Allen, & Hamilton employees are very satisfied with their training & development
opportunities. This satisfaction is noted by 89% reporting they are very satisfied &
satisfied with their training & development opportunities, while only 5% respectively
reported being neutral, or unsatisfied & very unsatisfied with their training & development
opportunities.
Booz, Allen, & Hamilton is privately owned by its partners.
Boston Consulting Group
Boston Consulting group was founded in 1963 by Bill Henderson. The firm is based in
Boston, MA, has operations in 36 countries, with 61 offices, 5,800 employees, 3,540
professionals, and 434 partners generating $2.3 billion in revenues. The firms CEO is
Hans-Paul Brkner and its web site is www.bcg.com.
Boston Consulting Group has evolved through three phases, including its strategy only,
prominence, and streamlining phases:
136
History
The first section of Boston Consulting Groups profile will explain the key historical
events in the firms development.
Strategy Only Phase
The first phase in Boston Consulting Groups development was the strategy only phase
from 1963 to 1969.
Boston Consulting Group was founded in 1963 by Arthur Little consultant Bill
Henderson.
Boston Consulting Group published Perspectives as an early marketing tool in 1964.
Boston Consulting Group opened its second office in Tokyo in 1966, being the first firm
to establish itself there.
Prominence Phase
The second phase in Boston Consulting Groups development was its prominence
phase from 1970 to 1990.
Boston Consulting Group came into its prominence in the early 1970s when it began
taking clients away from older bigger firms. The firm emphasized its creativity and
custom solutions to problems. During this period it also began offering operations
advice.
Boston Consulting Group has opened numerous European offices since 1970.
Specifically, details include:
London, England
Opened office in London in 1970
Third office
Frankfurt, Germany
Opened Frankfurt, Germany office in 1991
Budapest, Hungary
Opened office in Budapest, Hungary in 1997
Warsaw, Poland
Opened office in Warsaw, Poland in 1997
Prague, Czech Republic
Opened office in Prague, Czech Republic in 2001
Boston Consulting Groups Canada Consulting Group was founded in 1970. It was
founded by Jim Fisher in Canada.
Streamlining Phase
The third phase in Boston Consulting Groups development was the streamlining phase
from 1991 to 2008.
137
3,540
2,600
1,550
1996
2002
2007
Source: 2/9/07 Eric Blair Blog; 5/26/03 Fortune; 12/ 98 Wet Feet Press; T ib uron Research & Analysis
Boston Consulting Group has over 400 partners. Specifically, the firm had 434 partners
in 2002.
Boston Consulting Group is reducing headcount in order to provide clients greater
access to senior people. The reduction in headcount has produced a consultant to
partner ratio of six to one.
Boston Consulting Group generates $2.3 in revenues, up over 500% since 1995.
Specifically, Boston Consulting Group generated $375 million in revenues in 1995, $450
million in 1996, $1.10 billion in 2000, $1.05 billion in 2001, $1.02 billion in 2002, $1.120
billion in 2003, $1.39 billion in 2004, $1.51 billion in 2005, $1.86 billion in 2006, and $2.3
billion in 2007.
138
Boston Consulting Group generates only 30% of its revenues from the US. Specifically,
30% of Boston Consulting Group revenues are generated in the US, with the remaining
70% generated outside the US.
Boston Consulting Group generates almost $400,000 in revenues per employee.
Specifically, the firm generates $396,000 in revenues per employee.
Boston Consulting Group generates over $600,000 in revenues per professional, up
65% since 2002. Specifically, in 1996 the firm generated $387,000 in revenues per
professional in 1996, $392,000 in 2002, and $650,000 in 2007.
Boston Consulting Group generates over $2 million in revenues per partner.
Specifically, in 2002 Boston Consulting Group partners generated $2.4 million revenues
per partner.
Boston Consulting Groups firm reputation is down from 8.7 to 8.1. This measures the
firms reputation from its 2001 rating of 8.7 to its rating of 8.1 in 2002.
Boston Consulting Group is a coveted employer. It is the third most desirable firm to
work for by MBAs.
Businesses
The third section of Boston Consulting Groups profile will outline its core businesses.
Boston Consulting Group is organized into four functional groups:
Corporate Development
Organization
Information Technology
Operational Effectiveness
Boston Consulting Group generates 10% of its revenues from operational effectiveness
group. The firms Corporate Development, Organization, and Information Technology
functional groups are responsible for the remaining 90% of revenues generated.
Corporate Development Group
Boston Consulting Groups first business is its Corporate Development Group.
Boston Consulting Group counts industry studies, strategic work, and strategic
reengineering as its core offerings. Specifically, details include:
Industry Studies
Published a study on the pharmaceutical industry that challenged the notion
that bigger companies are inherently more successful
Attributed success of industry giants to the combined capabilities and
competencies in research, clinical trials, and marketing
Strategy
Engaged by an office products maker to determine product line profitability
after its merger
139
Strategic Reengineering
Projects generally have a strong strategic component
Advised a telecom company on how to face anticipated competition from
cable companies
Studied the operations, prepared cost benchmarks, and helped devise and
implement a plan to achieve them
Boston Consulting Group limits the number of reengineering projects it does. The firm
continues to focus on strategy and operations work. It debates the importance of
implementation to strategy and believes strategic work is more interesting than
emotionally draining cost-cutting reengineering projects.
Boston Consulting Group focuses primarily on high-level strategy and operations
consulting. The firm has turned away clients with projects that dont match the firms
expertise or plans for growth. The firm has a more selective business model than that of
McKinsey & Company. Additionally, the firm prides itself on its ability to examine each
situation and come up with new and creative solutions, allowing them to be one of the
first firms to really challenge McKinsey & Company for intellectual prowess in the
industry.
Boston Consulting Group believes that strategy is a capability, not a product.
Specifically, details include:
Objective and Analytical Advice
Change and uncertainty requires the objective and analytical advice provided
by experienced strategy consultants
Ability to Immerse in Client Issues
Breakthroughs in the industry come from immersion of consultants and client
executive in a set of client issues, not by surveys or in the library
Strategy Firm Diagnostic Capabilities
In order to be competitive, the strength of a strategy consulting firm must
come from its diagnostic capabilities
Company Direction
Companies need to have a clear idea of where they want to be in five years
Boston Consulting Group identified some keys to make change management projects
more effective. Specifically, details include:
Changes Applied Over Time
It is a long process that must take place over time
Companywide Involvement
Involve all levels of the company in the planning process
Resource Allocation
140
141
Effectiveness Group
Boston Consulting Groups fourth businesses is its effectiveness group.
Boston Consulting Group began offering operations consulting after observing Japanese
manufacturing companies. The ideas translated to firms discovering better ways of
making things through quality control principle, workforce training, and flexible
manufacturing. Enormous gains in time-to-market can be achieved when manufacturing
principles are applied to new product development, such as using speed as a
competitive weapon.
Boston Consulting Group attributes the innovation burnout of Japanese firms to
inadequate consideration of customer needs. The pressure to constantly release new
products created a push for innovation that did not adequately consider the needs of
customers. Moreover, the firm concluded that companies can garner a bigger market
share if they seek to first understand their customers needs and innovate around those
needs.
Boston Consulting Group generates over $100 million in revenues from its Operational
Effectiveness Group. Specifically, in 2002 the group generated $102 million in
revenues.
Boston Consulting Group also has many industry groups, including communications,
consumer & retail, energy & utilities, and financial services. In addition to these industry
groups the firms also has groups providing consulting services in health care, high
technology, industrial goods, and media.
Boston Consulting Group was dubbed the most cerebral consulting firm by The
Economist because it has developed a number of analytical tools used throughout the
consulting industry. Specifically, details include:
BCG (Boston Consulting Group) Matrix
-Time-Based Competition
-Total Shareholder Return
-Capability Driven Competitive Strategies
-Cash Flow Return
-Boston Consulting Group project teams usually have between three and six members
from different levels within the firm. There may be a number of small teams working
independently and simultaneously on different aspects of a study of larger scope. Work
is often broken up into modules, which is then completed by individual members or small
groups.
142
Boston Consulting Group projects usually last between three and six months.
Boston Consulting Group consultants are often expected to work on two projects
simultaneously.
This forces consultants and managers to be better at time
management, and also forces managers to prioritize consultants task due to other time
commitments. The firms associates work on only one case at a time.
Boston Consulting Group has a reputation for being a more laid-back and inventive firm.
Specifically, details include:
Office Autonomy
Individual offices maintain a degree of autonomy both in culture and
management style
Hierarchy and Bureaucracy
There is no sense of hierarchy and bureaucracy
Small Firm Feel
Employees think of themselves as working for a small firm that casts a big
shadow
Boston Consulting Group manages its information with knowledge management which is
in its internal web site that allows consultants to research topics. The firms knowledge
management offerings feature several thousand exhibits and articles.
Boston Consulting Groups study on the internet played a key role in new efforts to
protect consumer privacy on the internet. The firm believed electronic commerce could
generate an additional $6 billion in revenue by 2000 if privacy issues were effectively
addressed. The study found that over 41% of consumers leave web sites that ask for
their personal information.
Boston Consulting Group created an internal web site called The
Strategy Gallery to help its consultants draw inspirations and ideas. The internal site
has articles and excerpts from non-traditional management fields like anthropology,
philosophy, war, art, and sports. The site allows consultants to post notes and reactions
to articles. It was designed to help consultants think creatively on modern management
issues.
Boston Consulting Group publishes a series of newsletters, known as Perspectives.
Perspectives covers topics of general interest to business leaders. The newsletter is
sent to key clients and contacts along with other industry-specific publications about
every three weeks.
Boston Consulting Groups clients are big and well known, including Aetna, the
Canadian government, and the United States government. Specifically, details include:
Aetna Life & Casualty
-American Home Products
143
--
American Airlines
-Avery Dennison Corporation
-Canadian Government
Engaged by the Canadian government to help solve its high rates of youth
unemployment
Devised a plan, First Jobs, to help recent graduates find good jobs
Set up 50,000 high school and college graduates with entry-level
corporate internships with an annual salary of $12,000
Requested the Canadian government, along with corporations, create a nonprofit organization to fund the program
Corporate executives refused government money and instead started
their own program, Career Edge
GTE
--
IBM
--
144
Boston Consulting Group is led by CEO Hans-Paul Brkner. Boston Consulting Groups
management team includes Director Michael Silverstein. Hans-Paul Brkner succeeded
Carl Stern as CEO in 2003, he founded the firms Frankfurt office in 1991, was named
chairman of BCGs practice leadership committee after leading its financial services
practice for seven years and is now the first European to lead the firm. Michael
Silverstein is also the head of consumer goods and retail practice; he authored a book,
Trading Up, exploring the American consumers changing perceptions of value and
need. Very interestingly, he started out as a journalist covering the Elvis beat for United
Press International and is noted for telling the world Elvis was dead.
Boston Consulting Group consultant Alex Michel is The Bachelor. He was identified
simply as a management consultant with no mention of the firm. He holds an
undergraduate degree from Harvard and MBA from Stanford.
He is currently
transitioning out of the firm.
Boston Consulting Group alumni include Bill Bain and Jim Koch. Specifically, details
include:
Bill Bain
Founder, Bain & Company
Jim Koch
Founder & CEO, Boston Beer Company
Edmund Siah
Managing Director, Netdecisions
Pam Reeves
President & CEO, Lightbridge
Boston Consulting Group offers undergraduates, MBAs, and mid-career hires different
opportunities. Specifically, details include:
Undergraduates
Typically a two year commitment, although many are encouraged to remain
for a third
Often involves a rotation to a foreign office
Many associates go to business school after serving their time
Frequently sponsor up to two years of graduate school plus a $20,000 living
expenses allowance (two-thirds of living allowance is considered a loan)
Tuition expense is forgiven entirely if the associate continues with
BCG for two years after receiving MBA
MBAs
145
Mid-Career
Looks for industry experts who have been out of college for four to six years
Make up only 5% of new recruits
Usually join at the consultant level on a three-year track to case leader status
Expected to become generalists, not remain within their former specialty
May return to specialty, move to a new industry, or remain as a
generalist once they make partner
Boston Consulting Group hires MBAs as consultants to perform critical project tasks.
Specifically, details include:
Develop Analytical Frameworks
-Lead Brainstorming Sessions
-Interviews
-Plan and Manage Modules or Product Structures
-Research
-Manage Associates Work
-Hypothesis Development & Testing
-Workplans and Project Strategy
-Boston Consulting Group hires undergraduates as associates, and unlike other firms,
allows them to have relatively extensive client contact. Specifically, details include:
Research
Analyze findings
Framework Development
Develop conceptual frameworks to apply to particular projects
Data and Information Collection
From libraries and other sources
Interviews
Clients and customers
146
Investment Projects
Work on Boston Consulting Group research and analysis to develop new
capabilities or clients
Analysis
Spreadsheet crunching and heavy data analysis
Boston
Consulting
Group
typically hires 125 MBAs and 60
undergraduates annually.
Boston
Consulting
Groups
recruiters look for certain
qualities
in
applicants.
Specifically, details include:
125
60
BAs
MBAs
147
MBA Candidates
Go through two rounds of interviews
Actively recruits from the top five or six business schools
PhD Candidates
Go through three rounds of interviews
15%-20% of hires are from PhD programs
Boston Consulting Groups compensation for MBA employees is in line with the industry.
The firm had a starting salary of $85,000 in 1997 and $110,000 in 2007 for MBA
graduate recruits. It has also been noted that MBA hires also received a signing bonus
between $15,000-$25,000 in 1997
Boston Consulting Groups compensation for undergraduate employees is in line with
the industry. The firm had a starting salary of $44,000 for undergraduate recruits in
1997. It has also been noted that undergraduate hires also received a signing bonus of
$3,000 in 1997.
Boston Consulting Group offers its employees a generous benefits package, including
three weeks of vacation time. Specifically, details include:
Vacation time
Three weeks
Insurance
Health
401K Plan
-Pension Plan
-Offsite Meetings
-Family Events
Events for employees kids
Boston Consulting Group plans to recruit from non-traditional talent pools to grow its
staff. Specifically, details include:
Graduate Programs
Engineering
Medicine
Law
Outreach
148
for
employees
personal
and
professional
Four Relationships
Office mates
Class Dean
Consultant in charge of recruiting the year employee entered
Office sponsor
An informal buddy
Career-development counselor
Handles formal reviews and development
No Up-or-Out Policy
-Boston Consulting Groups Ambassador Program allows consultants to temporarily
transfer to another office. Consultants are expected to have the necessary language
and business skills before being posted to an office in another country. The program is
a good way for consultants to learn about the firms overseas divisions.
Boston Consulting Group employees rate their career experience in line with other
strategy consulting firms.
149
Boston Consulting Group employees believe their work makes a positive impact on
clients most of the time. Specifically, a 55% majority of employees believe their work
makes a positive impact on clients most of the time. Interestingly, an additional 37% of
employees always think their work makes a positive impact on clients all of the time.
While only 7% of employees thought their work only sometimes makes an impact on
clients. Only on 1% of Boston Consulting Group employees think their work seldom &
never makes a positive impact on their clients.
Boston Consulting Group employees are very satisfied with their flexible work
arrangements. Specifically, two-thirds or 66% of Boston Consulting Group employees
are very satisfied & satisfied with their flexible work arrangements. In contrast, 20% of
employees were neutral regarding their satisfaction with their flexible work arrangement
and 14% were unsatisfied & very unsatisfied with their flexible work arrangements.
Boston Consulting Groups Board of Directors has a system of vote requirements for
election and reelection. Boston Consulting Group requires those elected to the board of
directors in their first term to obtain at least 51% of the vote, while election to a second
term requires 66% of the vote and election to a third term requires 70% of the vote.
Boston Consulting Group is privately owned.
Broderick & Company
Broderick & Company was founded in 1988 and is based in Mill Valley, CA. It has 25
employees generating $1.9 million in revenues. The firms CEO is Maureen Broderick.
Its web sites are www.broderickco.com and www.broderickassociates.com.
History
The first section of Broderick & Companys profile will explain the key historical events in
the firms development.
Broderick & Company was founded in 1988 and has evolved through three phases,
including its early, recognition, and recent phase.
Early Phase
The first phase in the development of Broderick & Companys development was its early
phase from 1988 to 2003.
Broderick & Company was founded in 1988 as a market strategy consulting firm focused
on serving professional services firms. This firm is based in Mill Valley, CA.
Middle Phase
The second phase in the development of Broderick & Companys development was its
middle phase from 2004 to 2005.
Broderick & Company was listed as the 97th largest company in the San Francisco
Business Times 2004 List of Largest Women-Owned Businesses.
Recent Phase
The third phase in the development of Broderick & Companys was its recent phase from
2006 to 2008.
150
Statistics
The second section of Broderick & Companys profile will review some key statistics
regarding the firm.
Broderick & Company has 25 employees, up by six since 2004.
Broderick & Companys employees primarily work from its Mill Valley, CA headquarters.
Specifically 74% of the firms employees work in Mill Valley with the remaining 26%
working in other locations.
Broderick & Company has $1.9
million revenues, up over 10%
since 2002. In 2003, the firm
had $1.9 million in revenue,
compared to $1.7 million in
2002.
25
Businesses
The third section of Broderick &
Companys profile will outline its
core businesses.
Broderick & Company has a
number of businesses, including
its market strategy consulting
business.
19
2004
2007
Source: 10/ 25/ 07 Jigsaw Web Site; 8/24/07 B roderick & Company Web Sit e; 9/ 24/ 04 San Francisco Business Times; Tiburon Researc h & Analys is
151
Cap Gemini
Clarkston Consulting
Deloitte, Touche, & Tohmatsu
Deloitte Consulting
EDS
AT Kearney
Gartner Consulting
John Ryan Company
Marakon Associates
Mercer Delta
The Parthenon Group
The Segal Company
152
Broderick & Company is privately owned, almost entirely by women. Specifically 99% of
the firm is owned by women.
Burt Greenwald
Burt Greenwald was founded.
History
The first section of Burt Greenwalds profile will explain the key historical events in the
firms development.
Burt Greenwald was founded and has evolved through three phases, including its early
phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Burt Greenwalds was its early phase.
Middle Phase
The second phase in the development of Burt Greenwald was its middle phase.
Recent Phase
The third phase in the development of Burt Greenwald was its recent phase.
Statistics
The second section of Burt Greenwalds profile will review some key statistics regarding
the firm.
Businesses
The third section of Burt Greenwalds profile will outline its core businesses.
Burt Greenwald has a number of businesses.
Organization & Ownership
The final section of Burt Greenwalds profile will address is organizational structure &
ownership.
Burt Greenwald has a web site.
Burt Greenwald is led by Burt Greenwald.
Burt Greenwald is privately owned.
Business Brokerage Incorporated
Business Brokerage Incorporated (BBI) is another web site that provides listings for
buyers and sellers of tax practices, specializing in California accounting practices. It was
founded in 1978 and is based in Laguna Niguel, CA. Its president is David Smith, and
its web site is www.go2bbi.com.
History
The first section of Business Brokerage Incorporateds profile will explain the key
historical events in the firms development.
153
Statistics
The second section of Business Brokerage Incorporateds profile will review some key
statistics regarding the firm.
Businesses
The third section of Business Brokerage Incorporateds profile will outline its core
businesses.
Business Brokerage Incorporated sends weekly faxes of new practices available to all
registered buyers.
Business Brokerage sold over
1,400 practices worth $210
million.
Business
Brokerage
Incorporateds sellers are kept
anonymous until the interviews
are arranged with potential
buyers.
1,400
700
Business
Brokerage
Incorporated has sold 1,400
practices, with half sold over the
past two years.
2002
2004
Business
Brokerage
Incorporateds
transactions
were worth $210 million, with two-thirds of the values coming from firms sold within the
past two years.
Source: 2/16/05 BB I Web Site; 3/15/02 B BI Conversation (Smit h); 2/ 26/ 02 BBI Web Sit e; Tiburon Research & Analysis
Unlike
other
supermarkets,
Business
Brokerage
Incorporated only represents
sellers, hence its focus is on
promoting its listings.
Business
Brokerage
Incorporated uses a linear
process to sell tax practices.
like a business broker, Business
Brokerage Incorporateds fees
are fairly expensive, all of which
are paid by the seller.
6%
$0-$250,000
Next $250,000
Next $500,000
Source: 3/15/02 BB I Conversat ion (Smit h); 2/26/02 BBI Web Sit e; Tiburon Res earch & Analysis
154
Business Brokerage Incorporated produces two reports and a video on buying and
selling tax practices. Specifically, details include:
How to Sell Your Accounting or Tax Practice
Free report
How to Buy and Accounting or Tax Practice
Free report
How to Sell Your Practice for Maximum Profit
Eight minute video
Organization & Ownership
The final section of Business Brokerages profile will address is organizational structure
& ownership.
Business Brokerage Incorporated is led by President David Smith and Associate Larry
Richardson.
Business Brokerage is led by its management.
Business Brokerage is privately owned.
Business Transitions
Business Transitions was founded in 1997 and is based in Portland, Oregon. It
launched several succession planning platforms. Its President is David Grau. Its web
site is www.businesstrans.com.
History
The first section of Business Transitions profile will explain the key historical events in
the firms development.
Business Transitions was founded in 1997 and has evolved through three phases,
including its early phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Business Transitions was its early phase from
1997.
Business Transitions was founded in 1997.
Middle Phase
The second phase in the development of Business Transitions was its middle phase.
Recent Phase
The third phase in the development of Business Transitions was its recent phase.
Statistics
The second section of Business Transitions profile will review some key statistics
regarding the firm.
155
Businesses
The third section of Business Transitions profile will outline its core businesses.
Business Transitions has a number of businesses.
Business Transitions has tools that align to Tiburons Business Plan Tools, Including RIA
Transitions, FP Transitions, CPA Transitions, Insurance Transitions, and FP Canada.
Business Transitions also owns Law Transitions and Doctor Transitions.
Organization & Ownership
The final section of Business Transitions profile will address is organizational structure &
ownership.
The Business Transitions web site is laid out in an organized fashion with lots of
information. Sections of the web site include members, listings, consulting, support,
resources, and press room.
Business Transitions is led by its President David Grau. Other top level employees
include Vice President & Principal of CPA Transitions Bill Grable, Chief Operating Officer
Michael Martyn, and Chief Informational Officer Bob Clark.
Business Transitions is privately owned.
Callan Associates
Callan Associates was founded in 1973 and is based in San Francisco, CA. The
company has 5 offices, 170 employees, 500 clients, and $3.1 trillion client assets
advised. It is led by its chairman Ed Callan and CEO Ron Peyton. The company is
employee owned. Its web site is www.callan.com.
History
The first section of Callan Associates profile will explain the key historical events in the
firms development.
Callan Associates was founded in 1973 and has evolved through three phases, including
its early, financial advisor, and returning to roots phases.
Businesses
The second section of Callan Associates profile will outline its core businesses.
Callan Associates has at least six businesses, including its fund sponsor consulting,
independent advisor group, institutional consulting group, & Callan investment institute.
Fund Sponsor Consulting
Callan Associates first business is its fund sponsor consultant business, where it
provides strategic consulting and back-office support to institutional investment
managers & middle-market consulting firms. They have 500 institutional clients and $3.1
trillion in client assets.
Callan Associates serves 500 institutional clients, up over 300% since 2001.
156
500
150
2001
2007
Source: 10/ 7/ 07 Callan Web Site; 8/8/01 Schwab Conv ers ation (Turner); Tiburon Researc h & Analysis
Callan Associates is led by is Chairman Emeritus Ed Callan, CEO Ron Peyton, &
President Greg Allen.
Callan Associates is employee owned by 60 of its employees. Specifically, 20% is
owned by Ron Peyton and 80% are owned by the 59 other employees.
Cambridge Associates
Cambridge Associates was founded in 1973 and is based in Boston, MA. The firm has
seven offices in the United States and one in London. Its web site is
www.cambridgeassociates.com.
History
The first section Cambridge Associates profile outlines the key historical events in the
firms development.
Cambridge Associates was founded in 1973 and has evolved through three phases,
including its early phase, middle phase, & recent phases.
Businesses
The second section of Cambridge Associates profile will outline its core businesses.
Cambridge Associates has at least one business, including its consulting business.
157
Consulting
Cambridge Associates first business is its consulting business.
Organization & Ownership
The final section of Cambridge Associates profile outlines is organizational structure &
ownership.
Cambridge Associates has a web site.
Cambridge Associates is led by its management.
Cambridge Associates is owned by its shareholders.
Canning & Company
Canning & Company is an insurance research firm based in Hartford, CT. Its Associate
Vice President is George McKeon.
History
The first section of Canning & Companys profile will explain the key historical events in
the firms development.
Canning & Company was founded and has evolved through three phases, including its
early phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Canning & Company was its early phase.
Middle Phase
The second phase in the development of Canning & Company was its middle phase.
Recent Phase
The third phase in the development of Canning & Company was its recent phase.
Statistics
The second section of Canning & Companys profile will review some key statistics
regarding the firm.
Businesses
The third section of Canning & Companys profile will outline its core businesses.
Canning & Company has a number of businesses.
Organization & Ownership
The final section of Canning & Companys profile will address is organizational structure
& ownership.
Canning & Company has a web site.
Canning & Company is led by its management, including Assistant Vice President
George McKeon.
158
159
Capgeminis predecessor Cap Gemini Sogeti was founded in 1967 and has evolved
through three phases, including its early, pre-merger, and post-merger phases.
Early Phase
The first phase in the development of Capgemini was its early phase from 1968 to 1990.
Capgemini was founded by Serge Kampf as Cap Gemini Sogeti in 1967.
Pre-Merger Phase
The second phase in the development of Capgemini was its pre-merger phase from
1991 to 1999.
Capgemini acquired MAC Group in 1991.
Capgemini looked for ways to increase presence in US consulting market in 1998.
Specifically, details include:
Acquisitions
Explored possible acquisition with KPMG in 1998
Advertising
Post Ernst & Young deal, ran full page ads in Wall Street Journal, proclaiming
a perfect pair
Post-Merger Phase
The final phase in the
development of Capgemini was
its post-merger phase from
2000 to 2008.
Capgemini Acquired Ernst & Youngs Consulting Arm for $8 Billion and Renam ed it
Cap Gemini E rnst & Young in 2000; US Partners Received the Bulk of the Proceeds
Pa rtners in Othe r
Coun tri es
30%
Y2K
After Y2K ran ad campaign with slogan, You beat Y2K, now comes the hard
part
Capgemini had a tough time during the slumping economy of the mid 2000s.
Capgemini acquired Ernst & Youngs consulting arm for $8 billion and renamed it Cap
Gemini Ernst & Young in 2000. US partners received the bulk of the proceeds.
160
Specifically, Ernst & Young US partners received 70% of the proceeds from the sale,
while partners in other countries received the remaining 30%. An interesting note is that
some of the US partner proceeds went to an under funded pension plan for partners.
Capgemini cut jobs three separate times in 2001, nearly 5,000 jobs, bringing head count
below 58,000 worldwide.
Capgemini had several key resignations in 2002, including CEO Geoff Unwin, its Chief
Operating Officer for Americas and its Chief Financial Officer.
Capgemini still had integration issues in 2002, two years after the acquisition of Ernst &
Youngs consulting group. This view is from analyst of the acquisition.
Capgemini has some critics who believe that the recovery in 2003-2005 from the
slumping economy has been hurt by it being based overseas, while others believe it has
global brand strength. Specifically, details include:
Strongest European Business Among its Rivals
At the same time, it has the strongest European
161
162
163
Capital Markets Company was founded and has evolved through three phases, including
its early phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Cannon Financial Institute was its early phase.
Middle Phase
The second phase in the development of Cannon Financial Institute was its middle
phase.
Recent Phase
The third phase in the development of Cannon Financial Institute was its recent phase.
Statistics
The second section of Cannon Financial Institutes profile will review some key statistics
regarding the firm.
Businesses
The third section of Cannon Financial Institutes profile will outline its core businesses.
Capital Markets Company has a number of businesses.
Organization & Ownership
The final section of Cannon Financial Institutes profile will address is organizational
structure & ownership.
Capital Markets Company has a web site.
Capital Markets Company is led by its management.
Capital Markets Company is privately owned.
Capital Resource Advisors
Capital Resource Advisors is based in Chicago, Illinois and has 110 pension clients and
$370 billion in pension assets. Its CEO is Kevin Greene.
History
The first section of Capital Resource Advisors profile will explain the key historical
events in the firms development.
Capital Resource Advisors was founded and has evolved through three phases,
including its early phase, middle phase, and recent phases.
Early Phase
The third phase in the development of Capital Resources Advisors was its early phase.
Capital Resources Advisors Rogers Casey was founded in 1968.
Middle Phase
The second phase in the development of Capital Resources Advisors was its middle
phase.
164
Recent Phase
The third phase in the development of Capital Resources Advisors was its recent phase.
Capital Resources Advisors purchased Rogers Casey from Barra in 2002. The
purchase was for $14 million. It intended to create a formidable pension consulting
business.
Capital Resources Advisors retained 80% of Rogers Casey employees in the deal, but
some key personnel left. Key pension Rogers Casey pension consultants left to start a
new firm called Rocaton Investment Advisors.
Capital Resources Advisors also purchased Investment Counseling. Investment
Counseling is Paul Schaeffers former company, which provided strategy consulting.
This purchase represented Capital Resources Advisors venture into strategy consulting.
Statistics
The second section of Capital Resources Advisors profile will review some key statistics
regarding the firm.
Capital Resources Advisors has 110 pension clients.
Capital Resources Advisors has $370 billion pension assets under management.
Businesses
The third section of Capital Resources Advisors profile will outline its core businesses.
Capital Resource Advisors has at least one business, including Rogers Casey.
Investment Solutions
Capital Resources advisors primary business is its investments solutions business
which is led by its subsidiary, Rogers Casey. Rogers Casey was founded in 1968 and is
based in Darien, CT. It has operations in 2 countries, with 6 offices, and holds $325
billion assets under management. It is led by its CEO Timothy Barron. Their web site is
www.rogerscasey.com. It was acquired in 2002.
Capital Resources Advisors Rogers Casey has operations in two countries.
Capital Resources Advisors Rogers Casey has six offices.
Capital Resources Advisors Rogers Casey has $325 billion assets under management.
Organization & Ownership
The final section of Capital Resources Advisors profile will address is organizational
structure & ownership.
Capital Resource Advisors does not appear to have a web site.
Capital Resource Advisors Rogers Casey has a detailed web site that is divided into five
sections, including About Rogers Casey, Services, Programs, Research, & Investment
Metrics.
165
166
Casey, Quirk, & Associates business grew to over 30 client projects per year with 25
professionals in the late 1990s.
Return to Independence Phase
The fourth phase in the development of Casey, Quirk, & Associates was the Return to
Independence phase years from 2002 to 2008.
Casey, Quirk, & Associates took on its current name after being formed by Barra
Strategic Consulting Groups management team in the early 2000s.
Statistics
The second section of Casey, Quirk, & Associates profile will review some key statistics
regarding the firm.
Casey, Quirk, & Associates has 13 employees.
Businesses
The third section of Casey, Quirk, & Associates profile will outline its core businesses.
Casey, Quirk, & Associates has a number of businesses.
Casey, Quirk, & Associates focuses on four general areas of the investment
management industry, including business strategy, acquisition activities, distribution, and
investments. Specifically, details include:
Business Strategy
Strategic planning
Compensation design
Visioning
Organizational design
Business performance monitoring
New venture development
Acquisition Activities
Target identification
Negotiations support
Due diligence
Valuation
Distribution
Product positioning
Market sizing and share analysis
New market entry
Product development
Organizational design
Resource modeling
Channel management
Investments
Investment process assessment & enhancement
167
Casey, Quirk, & Associates believes it is uniquely positioned to provide services to its
clients & partners. Specifically, details include:
Expertise
First hand knowledge of how firms operate
Best practices
Industry dynamics
Deep investment expertise
Forward Thinking
Forward looking view of how the market will evolve
Relationship Management
Commitment to building great relationships
Flexible
Content driven
Casey, Quirk, & Associates publishes The CQA Quarterly Institutional Product Review,
which is available for purchase & download from its web site. It is published in
collaboration with Investor Force. It utilizes Investor Forces market intelligence &
technology. The review was initially published in 2004 and will be published on an
ongoing basis. It is sold for $299.00.
Casey, Quirk, & Associates Quarterly Institutional product review provides
benchmarking information on institutional managers & products. Specifically, details
include:
Proprietary Performance Quality Scores
Analyzes institutional products by peer group
Ranks the top 10 products in each category based on investment quality and
return
Proprietary Row Metrics
Casey, Quirk, & Associates gain ratio depicts the relative availability of assets
Casey, Quirk, & Associates withdrawal ratio gauges the level of mandates at
risk and investor discontent
Top Performers
Reviews the top 10 performers in each peer group
Peer Group Statistics
Monitors performance for each peer group
Excess return
Tracking error
Information ratio
168
Sharpe ratio
John Cas ey was formerly chairm an of both Rogers Casey and Barra Strategic Consulting Group; David Bauer was f ormerly a direct or at Barra St rat egic
Consulting Group and a consultant at Rogers Casey; J eb Doggett was f orm erly a direct or at B arra St rat egic Consult n
i g Group and a research analyst at
S tate Street Global A dvis ors; Kevin Quirk was formerly a dir ector at both Barra Strategic Consulting Group and Rogers Casey
Source: 2/25/05 Casey, Quirk , & A ssociates Web S ite; Tiburon Research & A nalysis
Casey, Quirk, & Associates web site is basic and provides limited information on the
company. Its areas for navigation include About Us, Research, CQA in the Press, and
Employment. Interestingly, the news release section of the web site has been under
construction since September 2002.
Casey, Quirk, & Associates is led by John Casey; David Bauer, Jeb Doggett, and Kevin
Quirk are principals of the firm. John Casey is the chairman. John Casey was formerly
169
chairman of both Rogers Casey and Barra Strategic Consulting Group; David Bauer was
formerly a director at Barra Strategic Consulting Group and a consultant at Rogers
Casey; Jeb Doggett was formerly a director at Barra Strategic Consulting Group and a
research analyst at State Street Global Advisors; Kevin Quirk was formerly a director at
both Barra Strategic Consulting Group and Rogers Casey.
Casey, Quirk, & Associates is privately owned.
CEG Worldwide
CEG Worldwide is led by its CEO John Bowen.
History
The first section of CEG Worldwides profile will explain the key historical events in the
firms development.
CEG Worldwide was founded and has evolved through three phases, including its early,
middle, & recent phases
Statistics
The second section of CEG Worldwides profile will review some key statistics regarding
the firm.
Businesses
The second section of CEG Worldwides profile will outline its core businesses.
CEG Worldwide has a number of businesses.
Organization & Ownership
The final section of CEG Worldwides profile will address is organizational structure &
ownership.
CEG Worldwide has a web site.
CEG Worldwide is led by its CEO John Bowen.
CEG Worldwide is owned by John Bowen.
Center for Fiduciary Studies
Center for Fiduciary Studies was founded.
History
The first section of Center for Fiduciary Studies profile will explain the key historical
events in the firms development.
The Center for Fiduciary Studies was founded and has evolved through three phases,
including its early phase, middle phase, and recent phases.
Early Phase
The first phase in the development of the Center for Fiduciary Studies was its early
phase.
170
Middle Phase
The second phase in the development of the Center for Fiduciary Studies was its middle
phase.
Recent Phase
The third phase in the development of the Center for Fiduciary Studies was its recent
phase.
Statistics
The second section of the Center for Fiduciary Studies profile will review some key
statistics regarding the firm.
Businesses
The third section of Center for Fiduciary Studies profile will outline its core businesses.
Center for Fiduciary Studies has a number of businesses.
Organization & Ownership
The final section of Center for Fiduciary Studies profile will address is organizational
structure & ownership.
Center for Fiduciary Studies has a web site.
Center for Fiduciary Studies is led by Don Trone.
Center for Fiduciary Studies is privately owned.
Center for Immigration Studies
Center for Immigration Studies was founded in 1985 by John Tarton and is based in
Washington, DC. Its web site is www.cis.org.
History
The first section of Center for Immigration Studies profile outlines the key historical
events in the firms development.
The Center for Immigration Studies was founded in 1985 and has evolved through three
phases, including its early, middle, and recent phases.
The Center for Immigration Studies was founded in 1985.
Early Phase
This section outlines the early phase of Center for Immigration Studies.
Middle Phase
This section outlines the middle phase of Center for Immigration Studies.
Recent Phase
This section outlines the recent phase of Center for Immigration Studies.
171
Statistics
The second section of Center for Immigration Studies profile will review some key
statistics regarding the firm.
Services
The third section of Center for Immigration Studies profile will outline its core services.
The Center for Immigration Studies publishes research on immigration policy.
The Center for Immigration Studies publishes research on immigration policy in the form
of books, reports, and papers.
Organization & Ownership
The final section of Center for Immigration Studies profile outlines is organizational
structure & ownership.
The Center for Immigration Studies web site is overly crowded with six sections and
many sub-sections, including Current News Articles, About CIS, Contact Us, Immigration
News, Publications, and Common Topics in Immigration.
The Center for Immigration Studies is led by its executive director Mark Krikorian.
The Center for Immigration Studies is privately owned.
Cerulli Associates
The firm founded in 1992 and is based in Boston, Massachusetts. The firms CEO is
Kurt Cerulli. It has 22 employees and its web site is www.cerulli.com.
History
The first section of Cerulli Associates profile will explain the key historical events in the
firms development.
Cerulli Associates was founded in 1992 and has evolved through three phases, including
its early phase, middle phase, and recent phases.
Early Phase
The first phase in the development of the Cerulli Associates was its early phase from
1992.
Cerulli Associates was founded by CEO Kurt Cerulli in 1992
Middle Phase
The second phase in the development of the Cerulli Associates was its middle phase.
Cerulli Associates revenues peaked at $6.5 Million in 2000. Consulting reportedly
accounted for up to 50% of revenues at that time. Revenues have been off over past
years. In addition, a conflicting source said 2002 consulting revenues were $2 million at
September before the business was disbanded.
Recent Phase
The third phase in the development of the Cerulli Associates was its recent phase.
172
Statistics
The second section of Cerulli Associates profile will review some key statistics regarding
the firm.
Cerulli Associates has 22 employees.
Businesses
The third section of Cerulli Associates profile will outline its core businesses.
Cerulli Associates has a number of businesses, including its consulting, research, and
publishing business.
Consulting
Cerulli Associates first business is its consulting business, which offers both strategic &
tactical service projects that typically last for two to four months.
Cerulli Associates consulting business also offers Cerulli Workshops which are half day
customized seminars.
Cerulli Associates only earns 33% of revenues from consulting and may have even
exited this business. The firm earns 67% from research & publishing. Cerullis
consulting work is probably more product line focused than corporate focused. The
valuation on recurring research revenues was higher and one of the factors leading to
the decision to exit the consulting business. A source says that Cerullis consulting work
is probably more product line focused than corporate focused. Another source said that
the valuation on recurring research revenues was higher and one of the factors leading
to the decision to exit the consulting business.
Research
Cerulli Associates second business is its research business, which specializes in
customized original research. Cerulli has a policy of not selling its research to other
consulting firms.
Cerulli Associates research strengths seem to be in about a dozen areas, including
annuities, bank brokerage, the Canadian mutual fund industry, and distribution of mutual
funds. Additional areas of research strength include, annuities, bank brokerage,
Canadian mutual fund industry, distribution of mutual funds, financial advisor market,
hedge funds industry, offshore mutual funds, online technology, overseas distribution,
retirement markets (401k, 403b, 457, IRAs, sarseps, defined benefit), variable life, and
wrap fee accounts & private account management.
Publishing
Cerulli Associates third business is its publishing business, which includes a number of
publications including The Cerulli Report Series and The Cerulli Edge. Many employees
are ex-writers or reporters from the industry.
Cerulli generates substantial revenues selling broad research studies and monthly &
quarterly subscription products for thousands of dollars, including Cerulli Reports, Cerulli
Edge, Cerulli Edge Global, Cerulli Edge Managed Accounts (Quarterly), and Cerulli
Edge Advisor (Quarterly). Specifically, details include:
173
Cerulli Reports
$4,000 to $15,000
Cerulli Edge
Annual subscriptions: $10,000
Individual copies: $750
Cerulli Edge - Global
Annual subscriptions: $10,000
Individual copies: $750
Cerulli Edge Managed Accounts (Quarterly)
Annual subscriptions: $3,000 (quarterly)
Individual copies: $750
Cerulli Edge Advisor (Quarterly)
Annual subscriptions: $3,000
Individual copies: $750
Cerulli Associates says that it serves a variety of clients; there appears to be a bias
towards mutual fund companies and 401k plan providers. The following is a list of the
firms identified clients:
ADP
Affiliated Managers Group
Alliance Capital Management
Allstate Insurance
American Century Investments
American Express
Bank of Montreal
Barclays Global Investors
Boston Financial Data Services
Brinker Capital
Charles Schwab & Company
CIGNA
Citibank
Colonial Investments
Delaware Investments
Deutsche Bank
Eaton Vance
Everen Securities
Fidelity Investments
Fleet Bank
Frank Russell Company
GE Investments
Goldman Sachs
Guardian Life
PFPC
Principal Financial Group
Putnam Investments
174
Prudential Financial
Quick & Reilly
R.S. Investment Management
Scudder Kemper
Salomon Smith Barney
Standish Ayer & Wood
State Street Global Advisors
State Street Research & Management
Stein Roe Mutual Funds
String Capital Management
TIAA-CREF
T. Rowe Price
Transamerica
Union Bank of Switzerland
USAA
Van Kampen American Capital
Vanguard
Waddell & Reed
Wells Fargo Bank
Washington Mutual
PFPC
Principal Financial Group
Putnam Investments
Prudential Financial
Quick & Reilly
RS Investment Management
Scudder Kemper
Salomon Smith Barney
Standish Ayer & Wood
State Street Global Advisors
State Street Research & Management
Stein Roe Mutual Funds
String Capital Management
TIAA-CREF
T. Rowe Price
Transamerica
Union Bank of Switzerland
USAA
Van Kampen American Capital
Vanguard
Waddell & Reed
Wells Fargo Bank
Washington Mutual
One of the two places where Tiburon has stumbled across Cerulli is mentioned (Schwab
and not HD Vest). Some names are old, which questions the firms recent consulting
activity.
Cerulli Associates has evolved from its beginnings but has to some degree returned
recently to those roots.
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176
Recent Phase
The third phase in the development of the CF Effron Company was its recent phase
Statistics
The second section of CF Effron Companys profile will review some key statistics
regarding the firm.
Businesses
The third section of CF Effron Companys profile will outline its core businesses.
CF Effron Company has a number of businesses.
Organization & Ownership
The final section of CF Effron Companys profile will address is organizational structure
& ownership.
CF Effron Company has a web site.
CF Effron Company is led by its CEO Carmen Effron.
CF Effron Company is privately owned.
Chasm Group (Geoffrey Moore)
Chasm Group (Geoffrey Moore) was founded.
History
The first section of Chasm Groups profile will explain the key historical events in the
firms development.
Chasm Group was founded and has evolved through three phases, including its early
phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Chasm Group was its early phase.
Middle Phase
The second phase in the development of Chasm Group was its middle phase.
Recent Phase
The second phase in the development of Chasm Group was its middle phase.
Statistics
The second section of Chasm Groups profile will review some key statistics regarding
the firm.
Businesses
The third section of Chasm Groups profile will outline its core businesses.
Chasm Group has a number of businesses.
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company has 287,000 employees, 200 million accounts, $2.02 trillion assets, $794
billion deposits, $86.2 billion revenues, and $17 billion net income. Citigroup is led by its
CEO Vikram Pandit and publicly traded on the New York Stock Exchange under the
ticker symbol: C. Web site is www.citigroup.com.
History
The first section of Citigroups profile will explain the key historical events in the firms
development.
Citigroup was founded in 1812 as the City Bank of New York and has evolved through
three phases, including its pre-Citigroup phase, Citigroup phase, & streamlining phase.
Businesses
The second section of Citigroups profile will outline its core businesses.
Citigroup has several businesses, including its Financial Research Corporation.
Financial Research Corporation
Citigroups last business is Financial Research Corporation (FRC). FRC is based in
Boston, MA.
Organization & Ownership
The final section of Citigroups profile will address is organizational structure &
ownership.
Citigroup has a web site.
Citigroups Financial Research Corporation has a web site.
Citigroup is led by its CEO Chuck Prince.
Citigroups Financial Research Corporation is led by its management.
Citigroup is a public company listed on the New York Stock Exchange under the ticker
C.
CK Prahalad
CK Prahalad is a University of Michigan PhD who wrote the book Competing for the
Future, which was published in 1994.
History
The first section of CK Prahalads profile will explain the key historical events in the
firms development.
CK Prahalad was founded and has evolved through three phases, including its early
phase, middle phase, and recent phases.
Early Phase
The first phase in the development of CK Prahalad was its early phase.
Middle Phase
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The second phase in the development of CK Prahalad was its middle phase.
Recent Phase
The third phase in the development of CK Prahalad was its recent phase.
Statistics
The second section of CK Prahalads profile will review some key statistics regarding the
firm.
Businesses
The third section of CK Prahalads profile will outline its core businesses.
CK Prahalad has a number of businesses.
Organization & Ownership
The final section of CK Prahalads profile will address is organizational structure &
ownership.
CK Prahalad has a web site.
CK Prahalad is led by its management.
CK Prahalad is privately owned.
Clayton Christensen
Clayton Christensen was founded.
History
The first section of Clayton Christensens profile will explain the key historical events in
the firms development.
Clayton Christensen was founded and has evolved through three phases, including its
early phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Clayton Christensen was it early phase.
Middle Phase
The second phase in the development of Clayton Christensen was its middle phase.
Recent Phase
The third phase in the development of Clayton Christensen was its recent phase.
Statistics
The second section of Clayton Christensens profile will review some key statistics
regarding the firm.
Businesses
The third section of Clayton Christensens profile will outline its core businesses.
Clayton Christensen has a number of businesses.
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The first phase in the development of Computer Associates development was its early
phase.
Middle Phase
The second phase in the development of Computer Associates development was its
middle phase.
Recent Phase
The third phase in the development of Computer Associates development was its recent
phase.
Statistics
The second section of Computer Associates profile will review some key statistics
regarding the firm.
Businesses
The third section of Computer Associates profile will outline its core businesses.
Computer Associates has a number of businesses.
Organization & Ownership
The final section of Computer Associates profile will address is organizational structure
& ownership.
Computer Associates has a web site.
Computer Associates is led by its management.
Computer Associates is privately owned.
Computer Sciences Corporation
Computer Sciences Corporation was founded in 1959 by Roy Nutt and Fletcher Jones,
and is based in El Segundo, CA. The company has 90,000 employees in 80 countries.,
and generates $14.1 billion in revenues, and earns $810 million in net income. The
firms NYSE Ticker is CSC, and the CEO is Mike Laphen. The companys web site is
www.csc.com.
History
The first section of Computer Sciences Corporations profile will explain the key historical
events in the firms development.
Computer Sciences Corporation was founded in 1959 and has evolved through three
phases, including its early phase, middle phase, and recent phases.
Businesses
The second section of Computer Sciences Corporations profile will outline its core
businesses.
Computer Sciences Corporation has six businesses, including its systems integration,
application development, data hosting, networking, management consulting business, &
First Consulting Group business.
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Management Consulting
Computer Sciences Corporations fifth business is its management consulting business.
First Consulting Group
Computer Sciences Corporations sixth business is its healthcare & technology
consulting business called First Consulting Group. Computer Science Corporations First
Consulting Group was founded in 1980 and is based in Alpharetta, GA. The firm has
operations in 5 countries with a total of 12 offices and 2,500 associates. The firm is led
by CEO Larry Ferguson. Their web site is www.fcg.com. The firm was acquired by
Computer Consulting Group in 2008.
Organization & Ownership
The final section of Computer Sciences Corporations profile will address is
organizational structure & ownership.
Computer Sciences Corporation has a detailed web site that is divided into six sections,
including about us, services, client results, insights, contact us, & careers.
Computer Sciences Corporations First Consulting Group has a detailed web site that is
divided into six sections, including investor relations, careers, media center, about FCG,
research, and contact us.
Computer Sciences Corporation is led by its chairman Mike Laphen.
Computer Sciences Corporations First Consulting Group is led by its CEO Larry
Ferguson.
Computer Sciences Corporation is publicly owned and traded on the New York Stock
Exchange under the ticker CSC.
Conning & Company
Conning & Company was founded.
History
The first section of Conning & Companys profile will explain the key historical events in
the firms development.
Conning & Company was founded and has evolved through three phases, including its
early phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Conning & Company was its early phase.
Middle Phase
The second phase in the development of Conning & Company was its middle phase.
Recent Phase
The third phase in the development of Conning & Company was its recent phase.
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Statistics
The second section of Conning & Companys profile will review some key statistics
regarding the firm.
Businesses
The third section of Conning & Companys profile will outline its core businesses.
Conning & Company has a number of businesses.
Organization & Ownership
The final section of Conning & Companys profile will address is organizational structure
& ownership.
Conning & Company has a web site.
Conning & Company is led by its management.
Conning & Company is privately owned.
Conversus Group
Conversus Group was founded.
History
The first section of Conversus Groups profile will explain the key historical events in the
firms development.
Conversus Group was founded and has evolved through three phases, including its
early phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Conversus Group was its early phase.
Middle Phase
The second phase in the development of Conversus Group was its middle phase.
Recent Phase
The third phase in the development of Conversus Group was its recent phase.
Statistics
The second section of Conversus Groups profile will review some key statistics
regarding the firm.
Businesses
The third section of Conversus Groups profile will outline its core businesses.
Conversus Group has a number of businesses.
Organization & Ownership
The final section of Conversus Groups profile will address is organizational structure &
ownership.
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Recent Phase
The third phase in the development of DA Consulting was its middle phase.
Statistics
The second section of DA Consultings profile will review some key statistics regarding
the firm.
Businesses
The third section of DA Consultings profile will outline its core businesses.
DA Consulting has a number of businesses.
Organization & Ownership
The final section of DA Consultings profile will address is organizational structure &
ownership.
DA Consulting has a web site.
DA Consulting Group is led by its management.
DA Consulting Group is privately owned.
DAK Associates
DAK Associates was founded and is led by its CEO Dan Kreuter.
History
The first section of DAK Associates profile outlines the key historical events in the firms
development.
DAK Associates was founded and has evolved through three phases, including its early,
middle, & recent phases
Statistics
The second section of DA Consultings profile will review some key statistics regarding
the firm.
Businesses
The third section of DAK Associates profile will outline its core businesses.
DAK Associates has a number of businesses.
Consulting
DAK Associates final business is its consulting business.
Organization & Ownership
The final section of DAK Associates profile will address is organizational structure &
ownership.
DAK Associates has a web site.
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The first phase in the development of Daniel Coleman was its early phase.
Middle Phase
The second phase in the development of Daniel Coleman was its middle phase.
Recent Phase
The third phase in the development of Daniel Coleman was its recent phase.
Statistics
The second section of Daniel Colemans profile will review some key statistics regarding
the firm.
Businesses
The third section of Daniel Colemans profile will outline its core businesses.
Daniel Coleman has a number of businesses.
Organization & Ownership
The final section of Daniel Colemans profile will address is organizational structure &
ownership.
Daniel Coleman has a web site.
Daniel Coleman is led by its CEO Daniel Coleman
Daniel Coleman is privately owned.
Dan Richards
Dan Richards was founded.
History
The first section of Dan Richards profile will explain the key historical events in the firms
development.
Dan Richards was founded and has evolved through three phases, including its early
phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Dan Richards was its early phase.
Middle Phase
The second phase in the development of Dan Richards was its middle phase.
Recent Phase
The third phase in the development of Dan Richards was its recent phase.
Statistics
The second section of Dan Richards profile will review some key statistics regarding the
firm.
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Businesses
The third section of Dan Richards profile will outline its core businesses.
Dan Richards has a number of businesses.
Organization & Ownership
The final section of Dan Richards profile will address is organizational structure &
ownership.
Dan Richards has a web site.
Dan Richards is led by its CEO Dan Richards
Dan Richards is privately owned.
Deloitte Touche Tohmatsu
Deloitte Touch Tohmatsu was founded in 1845 by William Deloitte and is based in New
York, NY. The firm has 91 US offices, 73,810 employees and 6,714 partners. Deloitte
Touch Tohmatsu has $12.5 billion in revenues and $6.5 billion in US revenues. The firm
is led by chairman John Connolly and CEO James Quigley.
History
The first section of Deloitte Touche Tohmatsus profile will explain the key historical
events in the firms development.
Deloitte Touche Tohmatsu was founded in 1845 and has evolved through three phases,
including its Jim Copeland, acquisition, and consulting phases.
Businesses
The second section of Deloitte Touche Tohmatsus profile will outline its core
businesses.
Deloitte Touche Tohmatsu has three core businesses, including accounting and
auditing, management advisory, and tax services.
Deloitte Consulting
Deloitte Touche Tohmatsus second business is its management advisory services,
which it calls Deloitte Consulting. Deloitte Consulting has 10,000 employees and
generates $5.6 billion revenues.
Deloitte Touche Tohmatsus Deloitte Consulting employs 10,000 professionals.
Deloitte Touche Tohmatsus Deloitte Consulting business generates $5.6 billion
revenues. Specifically, Deloitte Consultings revenues are up 430% since 1996.
Deloitte Touche Tohmatsus Deloitte Consulting business generates $130,000 in
revenues per professional.
Organization & Ownership
The final section of Deloitte Touch Tohmatsus profile will address is organizational
structure & ownership.
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Deloitte Touche Tohmatsu has a detailed web site which is divided into eight sections,
including about, issues, services, industries, insights, centers, events, & alumni.
Deloitte Touche Tohmatsu is Led by its Chairman John Connolly and CEO James
Quigley
Deloitte Touche Tohmatsus Deloitte consultings executive team includes Punjit Renjen,
strategy & operations practice global leader.
Deloitte Touche Tohmatsu is owned by its partners.
Delta Consulting Group
Delta Consulting Group was founded.
History
The first section of Delta Consulting Groups profile will explain the key historical events
in the firms development.
Delta Consulting Group was founded and has evolved through three phases, including
its early phase, middle phase, and recent phases.
Statistics
The second section of Delta Consulting Groups profile will review some key statistics
regarding the firm.
Businesses
The third section of Delta Consulting Groups profile will outline its core businesses.
Delta Consulting Group has several various businesses.
Organization & Ownership
The final section of Delta Consulting Groups profile will address is organizational
structure & ownership.
Delta Consulting Group has a web site.
Delta Consulting Group is led by its management.
Delta Consulting Group is privately owned.
DeMarche Associates
DeMarche Associates is a pension consulting firm, with 50 pension clients and $77
billion in pension assets.
History
The first section of DeMarche Associates profile will explain the key historical events in
the firms development.
DeMarche Associates was founded and has evolved through three phases, including its
early phase, middle phase, & recent phases.
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Businesses
The second section of DeMarche Associates profile will outline its core businesses.
DeMarche Associates has a number of businesses.
Consulting
DeMarche Associates final business is its consulting business.
Organization & Ownership
The final section of DeMarche Associates profile will address is organizational structure
& ownership.
DeMarche Associates has a web site.
DeMarche Associates is led by its management.
DeMarche Associates is owned by its shareholders.
Diamond Consulting
The firm was founded in 1989 and is based in Illinois. The firms CEO is Anthony Hotko
and its web site is www.dymnd.com.
History
The first section of Diamond Consultings profile will explain the key historical events in
the firms development.
Diamond Consulting was founded in 1989 and has evolved through three phases,
including its early phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Diamond Consultings development was its early
phase.
Middle Phase
The second phase in the development of Diamond Consultings development was its
middle phase.
Recent Phase
The third phase in the development of Diamond Consultings development was its recent
phase.
Statistics
The second section of Diamond Consultings profile will review some key statistics
regarding the firm.
Businesses
The third section of Diamond Consultings profile will outline its core businesses.
Diamond Consulting has three practice areas, including technology planning, network
services, and application development. Specifically, details include:
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Technology Planning
Systems evaluation
Installation
Training
Network Services
Hardware
Procurement
Implementation
Application Development
Visual Basica
Lotus Notes
HTML
Java
Oracle
Organization & Ownership
The final section of Diamond Consultings profile will address is organizational structure
& ownership.
Diamond Consulting has a web site.
Diamond Consulting is led by its management.
Diamond Consulting is privately owned.
Digital 4 Sight
Digital 4 Sight was founded.
History
The first section of Digital 4 Sights profile will explain the key historical events in the
firms development.
Digital 4 Sight was founded and has evolved through three phases, including its early
phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Digital 4 Sight was its early phase.
Middle Phase
The second phase in the development of Digital 4 Sight was its middle phase.
Recent Phase
The third phase in the development of Digital 4 Sight was its recent phase.
Statistics
The second section of Digital 4 Sights profile will review some key statistics regarding
the firm.
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Businesses
The third section of Digital 4 Sights profile will outline its core businesses.
Digital 4 Sight has a number of businesses.
Organization & Ownership
The final section of Digital 4 Sights profile will address is organizational structure &
ownership.
Digital 4 Sight has a web site.
Digital 4 Sight is led by its management.
Digital 4 Sight is privately owned.
Eager Consulting
Eager Consulting was founded in 1985 and is based in Louisville, KT. It is led by
Principal Douglas Peabody.
History
The first section of Eager Consultings profile will explain the key historical events in the
firms development.
Eager consulting was founded in 1985 and has evolved through three phases, including
its early phase, middle phase, & recent phases.
Statistics
The second section of Eager Consultings profile will review some key statistics
regarding the firm.
Businesses
The second section of Eager Consultings profile will outline its core businesses.
Eager Consulting has a number of businesses.
Organization & Ownership
The final section of Eager Consultings profile will address is organizational structure &
ownership.
Eager Consulting has a web site.
Eager Consultings management team includes Principal Douglas Peabody.
Eager consulting is owned by its shareholders.
Edelman Public Relations Worldwide
Edelman Public Relations Worldwide was founded.
History
The first section of Edelman Public Relations Worldwides profile will explain the key
historical events in the firms development.
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EMC2
EMC2 was founded.
History
The first section of EMC2s profile will explain the key historical events in the firms
development.
EMC2 was founded and has evolved through three phases, including its early phase,
middle phase, and recent phases.
Early Phase
The first phase in the development of EMC2s development was its early phase.
Middle Phase
The second phase in the development of EMC2s development was its middle phase.
Recent Phase
The third phase in the development of EMC2s development was its recent phase.
Statistics
The second section of EMC2s profile will review some key statistics regarding the firm.
Businesses
The third section of EMC2s profile will outline its core businesses.
Organization & Ownership
The final section of EMC2s profile will address is organizational structure & ownership.
EMC2 has a web site.
EMC2 is led by its management.
EMC2 is privately owned.
E-Myth Academy
E-Myth Academy is based in California and is led by CEO Michael Gerber.
History
The first section of E-Myth Academys profile will explain the key historical events in the
firms development.
E-Myth Academy was founded and has evolved through three phases, including its early
phase, middle phase, and recent phases.
Early Phase
The first phase in the development of E-Myth Academy is its early phase.
Middle Phase
The second phase in the development of E-Myth Academy is its middle phase.
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Recent Phase
The third phase in the development of E-Myth Academy is its recent phase.
Statistics
The second section of E-Myth Academys profile will review some key statistics
regarding the firm.
Businesses
The third section of E-Myth Academys profile will outline its core businesses.
E-Myth Academy has several various businesses.
Organization & Ownership
The final section of E-Myth Academys profile will address is organizational structure &
ownership.
E-Myth Academy has a web site.
E-Myth Academy is led by Michael Gerber.
E-Myth Academy is privately owned.
Ennis, Knupp, & Associates
Ennis Knupp & Associates is an investment consulting firm that has 44 pension clients
and $150 billion in pension assets.
History
The first section of Ennis, Knupp, & Associates profile will explain the key historical
events in the firms development.
Ennis, Knupp, & Associates was founded and has evolved through three phases,
including its early phase, middle phase, & recent phases.
Businesses
The second section of Ennis, Knupp, & Associates profile will outline its core
businesses.
Ennis, Knupp, & Associates has a number of businesses.
Consulting
Ennis, Knupp, & Associates final business is its consulting business.
Organization & Ownership
The final section of Ennis, Knupp, & Associates' profile will address is organizational
structure & ownership.
Ennis, Knupp, & Associates has a web site.
Ennis, Knupp, & Associates is led by its management.
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Statistics
The second section of Ethos Consultings profile will review some key statistics
regarding the firm.
Businesses
The third section of Ethos Consultings profile will outline its core businesses.
Ethos Consulting has a number of businesses.
Consulting
Ethos Consultings final business is its consulting business.
Organization & Ownership
The final section of Ethos Consultings profile will address is organizational structure &
ownership.
Ethos Consulting has a web site.
Ethos Consulting is led by its management team.
Ethos Consulting is privately owned.
Eureka Ranch
Eureka Ranch was founded.
History
The first section of Eureka Ranchs profile will explain the key historical events in the
firms development.
Eureka Ranch was founded and has evolved through three phases, including its early
phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Eureka Ranch was its early phase.
Middle Phase
The second phase in the development of Eureka Ranch was its middle phase.
Recent Phase
The third phase in the development of Eureka Ranch was its recent phase.
Statistics
The second section of Eureka Ranchs profile will review some key statistics regarding
the firm.
Businesses
The third section of Eureka Ranchs profile will outline its core businesses.
Eureka Ranch has a number of businesses.
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History
The first section of Financial Information Groups profile will explain the key historical
events in the firms development.
Financial Information Group was founded and has evolved through three phases,
including its early phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Financial Information Group was its early phase.
Middle Phase
The second phase in the development of Financial Information Group was its middle
phase.
Recent Phase
The third phase in the development of Financial Information Group was its recent phase.
Statistics
The second section of Financial Information Groups profile will review some key
statistics regarding the firm.
Businesses
The third section of Financial Information Groups profile will outline its core businesses.
Financial Information Group has a number of businesses.
Organization & Ownership
The final section of Financial Information Groups profile will address is organizational
structure & ownership.
Financial Information Group has a web site.
Financial Information Group is led by its management.
Financial Information Group is privately owned.
Financial Insights
Financial Insights was founded.
History
The first section of Financial Insights profile will explain the key historical events in the
firms development.
Financial Insights was founded and has evolved through three phases, including its early
phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Financial Insights was its early phase.
Middle Phase
The second phase in the development of Financial Insights was its middle phase.
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Recent Phase
The third phase in the development of Financial Insights was its recent phase.
Statistics
The second section of Financial Insights profile will review some key statistics regarding
the firm.
Businesses
The third section of Financial Insights profile will outline its core businesses.
Financial Insights has a number of businesses
Organization & Ownership
The final section of Financial Insights profile will address is organizational structure &
ownership.
Financial Insights has a web site.
Financial Insights is led by its management.
Financial Insights is privately owned.
Financial Technology Partners
Financial Technology Partners is based in San Francisco, CA and led by CEO Steve
McLaughlin. The firms web site is www.ftpartners.com.
History
The first section of Financial Technology Partners profile will explain the key historical
events in the firms development.
Financial Technology Partners was founded and has evolved through three phases,
including its early, middle, & recent phases.
Businesses
The third section of Financial Technology Partners profile will outline its core
businesses.
Financial Technology Partners has a number of businesses.
Consulting
Financial Technology Partners final business is its consulting business.
Organization & Ownership
The final section of Financial Technology Partners profile will address is organizational
structure & ownership.
Financial Technology Partners has a web site.
Financial Technology Partners is led by Steve McLaughlin.
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History
The first section of Fitch Groups profile outlines the key historical events in the firms
development.
Fitch Group acquired Algorithmics in 2005 for $175 million. The firm was founded in 1989, and is
based in Toronto, Canada. It has 15 offices and 450 employees. The firm has 200 clients, and
generates $75 million in revenues. Asset managers, insurance companies, brokerage firms,
utilities, and large corporations use the company's Algo software suite to analyze and manage
market, credit, asset liability, and operational risk across an enterprise. Algorithmics provides
enterprise financial risk management software for more than half of the world's top 100 banks.
The firm is led by CEO Steve Joynt. The Algorithmics web site is www.algorithmics.com.
Statistics
The second section of Fitch Groups profile outlines some key statistics regarding the
firm.
Algorithmics generates $75 million in total revenues, $65 million (87%) from financial services
business.
Algorithmics generates $65 million in revenues from financial services business.
Algorithmics financial services business revenues accounts for 90% of total revenues.
Businesses
The third section of Fitch Groups profile outlines its core businesses.
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Conference Speeches
Focus Consulting Groups second service is conference speeches.
Books
Focus Consulting Groups third service is books.
White Papers
Focus Consulting Groups fourth service is white papers.
Focus Consulting group has published a number of white papers including The Adaptive
Leader, Applied Behavioral Finance, The Black Swan & High-Performing Investment
Teams, and Communication: The Same-Page Challenge.
Focus Consulting Groups Jim Ware writes a CFA newsletter.
Organization & Ownership
The final section of Focus Consulting Groups profile will address is organizational
structure & ownership.
Focus Consulting Groups web site is practically organized into six sections, including
about us, solutions, clients, events, contact us, & writings.
Focus Consulting Group is led by Jim Ware.
Focus Consulting Group is owned by its partners.
Forrester
Forrester was founded.
History
The first section of Forresters profile will explain the key historical events in the firms
development.
Forrester was founded and has evolved through three phases, including its early phase,
middle phase, and recent phases.
Early Phase
The first phase in the development of Forrester was its early phase.
Middle Phase
The second phase in the development of Forrester was its middle phase.
Forrester Research granted stock options with incorrect stock prices in the early 2000s.
It was awarded options with exercise prices that were lower than the market value on the
date the grants were finalized.
Recent Phase
The third phase in the development of Forrester was its recent phase.
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Statistics
The second section of Forresters profile will review some key statistics regarding the
firm.
Businesses
The third section of Forresters profile will outline its core businesses.
Forrester Research has a number of businesses.
Organization & Ownership
The final section of Forresters profile will address is organizational structure &
ownership.
Forrester Research has a web site.
Forrester Research is led by its CEO George Colony.
Forrester Research is privately owned.
FS Associates
FS Associates was founded.
History
The first section of FS Associates profile will explain the key historical events in the
firms development.
FS Associates was founded and has evolved through three phases, including its early
phase, middle phase, and recent phases.
Early Phase
The first phase in the development of FS Associates was its early phase.
Middle Phase
The second phase in the development of FS Associates was its middle phase.
Recent Phase
The third phase in the development of FS Associates was its recent phase.
Statistics
The second section of FS Associates profile will review some key statistics regarding
the firm.
Businesses
The third section of FS Associates profile will outline its core businesses.
FS Associates has a number of businesses.
Organization & Ownership
The final section of FS Associates profile will address is organizational structure &
ownership.
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Gary Becker was founded and has evolved through three phases, including its early
phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Gary Becker was its early phase.
Middle Phase
The second phase in the development of Gary Becker was its middle phase.
Recent Phase
The third phase in the development of Gary Becker was its recent phase.
Statistics
The second section of Gary Beckers profile will review some key statistics regarding the
firm.
Businesses
The third section of Gary Beckers profile will outline its core businesses.
Gary Becker has a number of businesses.
Organization & Ownership
The final section of Gary Beckers profile will address is organizational structure &
ownership.
Gary Becker has a web site.
Gary Becker is led by its CEO Gary Becker.
Gary Becker is privately owned.
Gen3 Partners
Gen3 Partners was founded.
History
The first section of Gen3 Partners profile will explain the key historical events in the
firms development.
Gen3 Partners was founded and has evolved through three phases, including its early
phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Gen3 Partners was its early phase.
Middle Phase
The second phase in the development of Gen3 Partners was its middle phase.
Recent Phase
The third phase in the development of Gen3 Partners was its recent phase.
208
Statistics
The second section of Gen3 Partners profile will review some key statistics regarding
the firm.
Businesses
The third section of Gen3 Partners profile will outline its core businesses.
Gen3 Partners has a number of businesses.
Organization & Ownership
The final section of Gen3 Partners profile will address is organizational structure &
ownership.
Gen3 Partners has a web site.
Gen3 Partners is led by its management.
Gen3 Partners is privately owned.
Gilder Publishing
Glider Publishing was founded.
History
The first section of Gilder Publishings profile will explain the key historical events in the
firms development.
Gilder Publishing was founded and has evolved through three phases, including its early
phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Gilder Publishing was its early phase.
Middle Phase
The second phase in the development of Gilder Publishing was its middle phase.
Recent Phase
The third phase in the development of Gilder Publishing was its recent phase.
Statistics
The second section of Gilder Publishings profile will review some key statistics
regarding the firm.
Businesses
The third section of Gilder Publishings profile will outline its core businesses.
Gilder Publishing has a number of businesses.
Organization & Ownership
The final section of Gilder Publishings profile will address is organizational structure &
ownership.
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Gomez was founded and has evolved through three phases, including its early phase,
middle phase, and recent phases.
Early Phase
The first phase in the development of Gomezs development was its early phase.
Middle Phase
The second phase in the development of Gomezs development was its middle phase.
Recent Phase
The third phase in the development of Gomezs development was its recent phase.
Statistics
The second section of Gomezs profile will review some key statistics regarding the firm.
Businesses
The third section of Gomezs profile will outline its core businesses.
Gomez has a number of businesses.
Organization & Ownership
The final section of Gomezs profile will address is organizational structure & ownership.
Gomez has a web site.
Gomez is led by its management.
Gomez is privately owned.
Grant Thornton
Grant Thornton was founded in 1924 by Alexander Grant and is based in Chicago, IL. It
has 48 US offices (and 109 overseas affiliations), and a total of 14,019 employees and
2,256 partners with 3,280 US employees, 2,217 US professionals, and 328 US partners.
Grant Thornton generates $1.8 billion in revenues with $490 million in US revenues. The
company is led by its CEO of Grant Thornton. The firms web site is
www.grantthornton.com.
History
The first section of Grant Thorntons profile will explain the key historical events in the
firms development.
Grant Thornton was founded in 1924 and has evolved through three phases, including
early, middle, and late phases.
Businesses
The third section of Grant Thorntons profile will outline its core businesses.
Grant Thornton has several businesses, including accounting & auditing, tax, and
management advisory services.
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Half of Grant Thorntons US revenues come from accounting and auditing services.
Specifically, 52% of US revenues come from accounting & auditing, while tax services
are responsible for 33% of US revenues, and management advisory services
responsible for the remaining 15%. Grant Thornton has $250 million in revenues from
accounting & auditing services and $140 million in revenues from tax services.
Management Advisory
Grant Thorntons final business is its management advisory business.
Organization & Ownership
The final section of Grant Thorntons profile will address is organizational structure &
ownership.
Grant Thornton has a web site.
Grant Thornton is led by Ed Nusbaum. Ed Nusbaum is CEO of Grant Thornton and
Harris Smith is managing partner at the firms San Francisco office.
Grant Thornton is owned by its partners.
Gray Matters
Gray Matters was founded and is led by its CEO Lisa Gray.
History
The first section of Gray Matters profile outlines the key historical events in the firms
development.
Gray Matters was founded and has evolved through three phases, including its early,
middle, & recent phases
Early Phase
This section outlines the early phase of Gray Matters.
Middle Phase
This section outlines the middle phase of Gray Matters.
Recent Phase
This section outlines the recent phase of Gray Matters.
Statistics
The second section of Gray Matters profile outlines some key statistics regarding the
firm.
Businesses
The third section of Gray Matters profile outlines its core businesses.
Organization & Ownership
The final section of Gray Matters profile outlines its organizational structure &
ownership.
Gray Matters has a web site.
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History
The first section of Hay Groups profile outlines the key historical events in the firms
development.
Hay Group was founded in 1943 and has evolved through three phases, including its
early, middle, & recent phases
Hay Group was founded in 1943.
Early Phase
This section outlines the early phase of Hay Group.
Middle Phase
This section outlines the middle phase of Hay Group.
Hay Group was purchased by Advertising Company Saatchi & Saatchi in 1984.
Recent Phase
This section outlines the recent phase of Hay Group.
Hay Group returned to private ownership after it was purchased by its staff in a
leveraged buyout in 1990.
Hay Group conducted a salary administration, incentives, & employee benefits report
with the American Bankers Association.
Statistics
The second section of Hay Groups profile will review some key statistics regarding the
firm.
Businesses
The third section of Hay Groups profile outlines its core businesses.
Hay Group has five businesses, including its Hay Group Insight, Hay Group Pay Net,
Hay Group Transforming Learning, international conference, & job evaluation manager.
Hay Groups first business is its Hay Group Insight.
Hay Groups second business is its Hay Group Pay Net.
Hay Groups third business is its Hay Group Transforming Learning.
Hay Groups fourth business is its international conference.
Hay Groups fifth business is its job evaluation manager.
Organization & Ownership
The final section of Hay Groups profile outlines its organizational structure & ownership.
Hay Group has an in-depth web site with eight sections, including about hay group,
service lines, & business issues.
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History
The first section of Hewitt Associates profile will explain the key historical events in the
firms development.
Hewitt Associates was founded in 1940 and has evolved through three phases, including
its early phase, middle phase, and recent phases.
Businesses
The third section of Hewitt Associates profile will outline its core businesses.
Hewitt Associates has at least three businesses, including employee benefits,
organizational effectiveness consulting, and investment consulting.
Hewitt Investment Consulting Group
Hewitt Associates third business is Hewitt Investment Groups investment consulting
business. The group has 68 pension clients and $79 billion in pension assets under
management.
Hewitt Investment Group has 68 pension clients.
Hewitt Investment Group manages $79 billion in pension assets under management.
Organization & Ownership
The final section of Hewitt Associates profile will address is organizational structure &
ownership.
Hewitt Associates web site has five sections, including about Hewitt, our services,
knowledge center, investor relations, and working here.
Hewitt Associates is led by its CEO Russ Fradin.
Hewitt Associates is a publicly traded company on the New York Stock Exchange under
the symbol HEW.
Hitachi
Hitachi was founded in 1910 and is based in Tokyo, Japan. The firm is led by President
Kazuo Furukawa. Its traded on the NYSE and TYO under the ticker HIT. Its web site is
www.hitachi.com..
History
The first section of Hitachis profile will explain the key historical events in the firms
development.
Hitachi was founded in 1910 and has evolved through three phases, including its early,
middle, and recent phases.
Businesses
The second section of Hitachis profile will outline its core businesses.
Hitachi has a number of businesses, including its electronics & Hitachi Consulting
Business.
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Hitachi Consulting
Hitachis final business is its consulting business, called Hitachi Consulting.
Hitachis Hitachi Consulting has operation in 7 countries.
Hitachis Hitachi Consulting has 17 offices.
Hitachis Hitachi Consulting has 1,500 employees.
Hitachis Hitachi Consulting generates $200 million in revenues.
Hitachis Hitachi Consulting has a number of businesses, including its JMN Associates
and Dove Consulting.
Hitachis Hitachi Consultings first business is its JMN Associates, which it acquired in
2008 to enter the consulting industry for banking, real estate, & insurance.
Hitachis Hitachi Consultings second business is its Dove Consulting.
Hitachis Hitachi Consultings Dove Consulting has a number of businesses, including
financial services and payments compliance.
Hitachis Hitachi Consultings Dove Consultings first business is its financial services
business.
Hitachis Hitachi Consultings Dove Consultings second business is its payments
compliance business.
Organization & Ownership
The final section of Hitachis profile will address its organizational structure & ownership.
Hitachi has a detailed web site that is divided into four sections, including about Hitachi,
products & services, support & downloads, and news releases.
Hitachis Hitachi Consulting Has a detailed web site that is divided into six sections,
including about us, industries, solutions, alliances, knowledge & success, and contact
us.
Hitachis Hitachi Consultings Dove Consulting has a web site.
Hitachi is led by its president Kazuo Furukawa.
Hitachis Hitachi Consulting is led by its CEO Michael Travis.
Hitachis Hitachi Consultings Dove Consulting is led by its management.
Hitachi is a public company and is listed on The New York Stock Exchange under the
ticker HIT.
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H&R Block
H&R Block was founded in 1955 by Henry & Richard Bloch and is based in Kansas City,
MO. The firm has 12,000 offices and 15,300 employees with 60,000 temporary
employees hired each tax season. H&R Block completes 190 million tax returns and
generates $4.4 billion in revenues and earns $624 million in profits. H&R Block is led by
its CEO Mark Ernst. The firms web site is www.hrblock.com.
History
The first section of H&R Blocks profile will explain the key historical events in the firms
development.
H&R Block was founded in 1955 and has had a long history of making acquisitions and
having legal issues.
Businesses
The third section of H&R Blocks profile will outline its core businesses.
H&R Block has four core business units, including tax, mortgage, business services, and
investment services. The tax business operates within offices, online environment and
software, while the mortgage business is administered in the banking environment,
business services occur through RSM McGladrey and investment services are handled
by its financial advisors.
RSM McGladrey
RSM McGladrey was created from H&R Blocks acquisition of the business services unit
of McGladrey & Pullen in 1999; this is now the basis of the firms third core business
unit. Based in Bloomington, MN and is in 22 states. They have 100 offices and another
90 independently owned offices with a total of 5,000 employees. The firm generates $1
billion in revenues. Steven Trait is CEO. The web site: www.rsmmcgladrey.com
H&R Blocks RSM McGladrey was acquired IN 1999 after being an integral part of
McGladrey & Pullen.
H&R Blocks RSM McGladrey and McGladrey & Pullen have an alternative practice
structure. RSM McGladrey and McGladrey & Pullen are separate legal entities. RSM
McGladrey leases its employees to McGladrey & Pullen for a management fee. Some
partners and employees of McGladrey & Pullen are also employees of RSM McGladrey.
RSM McGladrey provides accounting, consulting, and tax services to its clients.
McGladrey & Pullen can provide auditing services to RSM McGladreys clients since
they are separate legal entities thereby bypassing auditor independence issues.
RSM McGladrey is able to work with McGladrey & Pullen to provide auditing services to
its consulting clients. They are both targeting clients that are searching for a one-stop
shop for all their noncore business needs. RSM McGladrey and McGladrey & Pullen
have an alternative practice structure where both firms are separate legal entities that
work together to serve the same clients. RSM McGladrey provides McGladrey & Pullen
with accounting, payroll, human resources, and other administrative services to
McGladrey & Pullen for a management fee. The AICPA adopted an alternative practice
structure in the mid-1990s as a way for large public companies to buy up the non-attest
entities of accounting firms such as tax and consulting arms. Public companies, like H&R
Block, can create new units under the alternative practice structure so that accounting
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and consulting firms can co-exist as wholly owned subsidiaries. This provides the upside
of being able to avoid the scrutiny facing large audit and consulting firms in the wake of
the Enron scandal.
H&R Blocks RSM McGladrey takes advantage of the AICPAs alternative practice
structure guidelines. The AICPA adopted an alternative practice structure in the mid1990s as a way for large public companies to buy up the non-attest entities of
accounting firms such as tax and consulting arms. Public companies, like H&R Block,
can create new units under the alternative practice structure so that accounting and
consulting firms can co-exist as wholly owned subsidiaries. Upside of being able to
avoid the scrutiny facing large audit and consulting firms in the wake of the Enron
scandal.
H&R Blocks RSM McGladrey acquired the tax & business services division of American
Express in 2005. The division was founded in 1985 and had acquired 70 accounting
firms. They have business in18 states with $385 million revenues. Acquired in 2005
and paid $220 million combined firm to have 7,000 employees and $1 billion revenues.
H&R Blocks RSM McGladreys American Express Branch Seemed to Have All the
Necessary Pieces to Become a Leading CPA Firm Prior to Being Acquired.
Deep pocketed parent
With loyal customer base
Investment research department
National name recognition
Fueled by aggressive advertising & promotion
Perceived by consumers as an upscale brand
Full range of products & services
2,800 products
Support staff
Home office specialists & support staff
Claims to have one of the industrys highest employee to rep ratios
Training & educational opportunities
First rate training program
Practice management consulting, client management systems
Succession planning program
Low interest loans
H&R Blocks RSM McGladrey is attempting to become the dominant accounting firm
serving middle market companies in the twenty-five largest US markets. It has been
successful at targeting middle market and courting companies with $5 million to $150
million in revenue. Over 95% of the companies are privately owned and the majority of
clients are repeat customers through cross selling of services with its former parent
company, McGladrey & Pullen.
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H&R Blocks RSM McGladrey has been an active acquirer of the non-attest services of
other CPA firms; acquired about 20 firms. McGladrey & Pullen purchased the attest
services of the CPA firms acquired by RSM McGladrey. Firms acquired by RSM
McGladrey include:
Bustamante, Nunez, & Company
Mullen & Company
Duncan & Associates
Knight, Vale, & Gregory
Fisk Robinson
Keller & Bruner
Edward, Isaacs, & Company
Humiston, Skokan, Warren, & Eichenberger
Flood & Youngers
Mullen & Company
Toback
Rudolph, Palitz
CW Amos & Company
Wallace, Sanders, & Company
Freed, Maxick, Sachs, & Murphy
Katz, Sapper, & Miller
Friedman, Einstein, Raemer, and Shwartz
Berg, DeMarco, Lewis, and Sawatski
Donnelly, Meiners, Jordan, and Kline
H&R Blocks RSM McGladrey serves clients in 22 states.
H&R Blocks RSM McGladrey has 100 offices, due to a surge brought on by the
American Express CPA business acquisition.
H&R Blocks RSM McGladrey has 7,000 employees, up hugely due to the American
express deal.
H&R Blocks RSM McGladreys revenues took a jump to $1 billion due to the American
Express deal. Previously, revenues had remained relatively flat at $0.5 billion.
H&R Blocks RSM McGladreys lost $14 million in 2003.
H&R Blocks RSM McGladreys has three core businesses, including tax, accounting &
auditing, and business consulting, all for business clients.
H&R Blocks RSM McGladreys revenues come over three-quarters of from tax and
accounting & auditing services. More specifically, tax accounts for 42%, accounting and
auditing 39%, and business consulting 19%.
H&R Blocks RSM McGladreys first business is its tax business.
H&R Blocks RSM McGladreys second business is its accounting & auditing business.
H&R Blocks RSM McGladreys third business is its consulting business.
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H&R Blocks RSM McGladrey consulting revenues grew substantially in 2002. More
specifically, revenues grew 44% to $110 million between 2001 and 2002.
H&R Block also created a unit called H&R Block Small Business Resources in 2005.
Employs CPAs to meet the tax, financial, and business services needs of small business
owners. Expanded with American Express acquisition.
H&R Blocks RSM McGladreys consulting revenues are almost three-quarters from
financial and information technology consulting. More specifically, 40% comes from
financial management services, 30% from technology services, 12% human resources,
10% operational consulting services, and 8% strategy consulting.
More than half of RSM McGladreys Information Technology Consulting Business is
providing packaged solutions for clients. More specifically, 58% comes from packaged
solutions, 20% from systems & enterprise planning, 10% from systems integration, 10%
from internet & e-business, and 2% from contact management.
H&R Blocks RSM McGladreys Business Consulting Services are organized into six
areas, including financial management and human resources services. Other areas
include, operational consulting, risk management, strategy consulting, and technology
services.
H&R Block acquired My Benefit Source.Com in 2001 to provide a payroll offering for
small business clients of RSM McGladrey.
H&R Blocks acquisition of RSM McGladrey brought with it two additional investment
businesses.
Personal wealth management
Responded to clients requesting financial planning help
Decided to build a wealth management group from the ground up
- Reason was to maintain maximum control over quality of services
- Initially hired 30 advisors
Teams of planners targeting high net worth individuals and families
- Full financial planning engagement
- Asset allocation
Utilize multiple vendors
- Relies on Prima Capital for research on mutual funds and private
account managers
- Buckingham Asset Management (BAM) provides back office portfolio
accounting
- Formed alliances with Pacific Life and National Life for insurance
needs
- Assets custodied at Charles Schwab & Company
Pension & actuarial consulting
Five different 401k plans (Charles Schwab & Company, Fidelity
Investments, etc.)
Research on mutual funds and gatekeepers of 401k plans by Prima
Capital
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RSM McGladrey formed an alliance with Mass Mutual to provide insurance products to
its client base.
Organization & Ownership
The final section of H&R Blocks profile will address is organizational structure &
ownership.
H&R Block has a web site with many sections including online taxes, tax office, office
locator, tax tips, calculators, & banking.
H&R Blocks web site serves as the electronic gateway to everything H&R Block offers.
Tax center
Free online tax prep
Guaranteed to be mathematically correct
Users pay only when satisfied with the program and their return
Variety of tools and calculators
Mortgage center
Teamed with E-LOAN for access to more than 70 loan providers
Users can apply for mortgages online
Users can track the status of their applications through the web site
Variety of tools and calculators
Investment center
Brokerage Services
- Provides online brokerage services
- Offers free financial plans to its tax clients provided they allow their
IRS form information to be used
- Links to Answer Financials online insurance offerings
- Offers advice where clients can work alone or with an advisor
Banking Services
- Partnered with Citi f/I - Citibank's online banking services
- Product and service offerings include checking, savings, insured
money market accounts, bill payment, loan products, and insurance
quotes
H&R Block is led by CEO Mark Ernst; Tim Gokey leads its tax business.
H&R Blocks subsidiary RSM McGladrey is led by its CEO Steven Trait.
H&R Blocks Board of Directors includes twelve individuals, with CEO Mark Ernst Being
the only employee.
Mark Ernst
CEO, H&R Block
Jerry Choate
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Elected in 2006
Formerly CEO of Allstate Insurance, 1995-2006
Also director of Amgen and Valero Energy Corporation and on board of
trustees for Van Kampen Mutual Funds
Tom Seip
Chairman of Boards Governing & Nominating Committee
Len Lauer
Elected in 2005
COO, Sprint Nextel
David Lewis
Elected in 2004
Chairman, Lewis & Munday
Also on board of Kroger
Thomas Block
-Donna Ecton
-Henry Frigon
-Roger Hale
-Louis Smith
-Ray Wilkins
-H&R Block hosts an annual investment community conference.
H&R Block went public in 1962 under the ticker HRB and moved to the New York Stock
Exchange in 1969.
H&R Block second largest shareholder to Fidelity Investments is Warren Buffett, who
acquired an eight percent stake in the firm in 2001. More specifically, 10% of H&R Block
ownership belonged to Fidelity investments while 8% belonged to Warren Buffet. 82%
of H&R Block ownership belongs to other investors.
HS Dent
HS Dent was founded.
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History
The first section of HS Dents profile will explain the key historical events in the firms
development.
HS Dent was founded and has evolved through three phases, including its early phase,
middle phase, and recent phases.
Early Phase
The first phase in the development of HS Dent was its early phase.
Middle Phase
The second phase in the development of HS Dent was its middle phase.
Recent Phase
The third phase in the development of HS Dent was its recent phase.
Statistics
The second section of HS Dents profile will review some key statistics regarding the
firm.
Businesses
The third section of HS Dents profile will outline its core businesses.
HS Dent has a number of businesses.
Organization & Ownership
The final section of HS Dents profile will address is organizational structure &
ownership.
HS Dent has a web site.
HS Dent is led by its CEO Harry Dent
HS Dent is privately owned.
IBM
IBM was founded in 1889. Its Chairman is Samuel Palmisano, and the company is
publicly traded (NYSE Ticker: IBM). The companys web site is www.ibm.com.
History
The first section of IBMs profile will explain the key historical events in the firms
development.
IBM was founded in 1889 and has evolved through three phases, including its early,
middle, and consulting-oriented phases.
Businesses
The second section of IBMs profile will outline its core businesses. IBM has three
businesses, including its hardware, software, and IBM Global Services business.
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IBM Has three businesses including its hardware, software, and IBM Global Services
Business.
IBM Global Services
IBMs third business is its IBM Global Services.
IBM's IBM Global Services has operations in 170 countries, up 13% since 2002.
IBM's IBM Global Services has 300 offices.
IBM's IBM Global Services has 190,000 employees.
IBM's IBM Global Services has 30,000 consultants.
IBM's IBM Global Services generates almost $50 billion in revenue.
IBMs IBM Global Services has two major divisions, including IBM Global Business
Services and IBM Global Technology Services.
IBMs IBM Global Services first business is its IBM Global Business Services, which
specializes in business consulting.
IBM's IBM Global Business Services has 150 offices.
IBM's IBM Global Business Services employs around 30,000 professionals.
IBM's IBM Global Business Services has 2,600 partners.
IBM's IBM Global Business Services has one-third of its professionals based in the US.
IBM's IBM Global Business Services generates over $5 billion in revenue.
IBMs IBM Global Business Services generates less than one-quarter of its revenue from
financial services consulting. Specifically, 18% of IBMs IMB Global Business Service
Revenue comes from financial services firms. Products, Government, Information,
Communication & Entertainment, Energy & Utilities, and Other make up 33%, 22%,
14%, 12%, and 1% respectively.
IBM's IBM Global Business Services derives half of its revenue from its North American
operation.
IBM's IBM Global Business Services generates almost $200,000 in revenue per
professional.
IBM's IBM Global Business Services generates almost $2 million in revenue per partner.
IBMs IBM Global Services IBM Global Business Services has three core operations,
including management consulting, systems integration, & application management
services.
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IBM's IBM Global Business Services offers operational consulting through its Financial &
Operational Improvement Services Group.
IBM's IBM Global Business Services Financial & Operational Improvement Services
Group provides many services, including contractor compliance, cost management &
analysis, and operational effectiveness.
Management Horizons Group.
IBM's IBM Global Business Services established its Management Horizons Group to
service the retail industry.
IBM's IBM Global Business Services Management Horizons Group offers many
information technology consulting services, including custom system development &
implementation and package system selection.
IBM's IBM Global Business Services Management Horizons group offers many
operational strategy consulting services, including logistics management planning &
implementation and logistics system implementation.
IBM's IBM Global Business Services Management Horizons Group offers many market
strategy consulting services, including asset redeployment strategies, market
positioning, and merchandise & marketing strategies.
IBM's IBM Global Business Services Management Horizons Group offers many market
research services, including competitive surveys & analysis, consumer research,
economic forecasting, and site locations & market analysis.
IBM's IBM Global Business Services Management Horizons Group offers many audit,
tax, and business advisory services, including audit & business advisory services,
corporate finance, and employee benefits services.
IBM's IBM Global Business Services uses an eight step approach to reengineering,
including confirm the mission, strategy, & customer value-added for the business and
identify critical success factors.
IBM's IBM Global Business Services publishes the Global CEO Survey.
IBM's IBM Global Business Services employs Scenario Envisioning to help companies
map out the possible futures of industries in transition.
IBM's IBM Global Business Services has a strategic alliance with SAP.
IBMs IBM Global Services second business is its IBM Global Technology Services.
IBMs IBM Global Services IBM Global Technology Services has three core operations,
including outsourcing services, integrated technology services, & maintenance.
IBM's IBM Global Technology Services Offers Technology consulting through its ebusiness services practice.
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History
The first section of Impact Communications profile will explain the key historical events
in the firms development.
Impact Communications was founded and has evolved through three phases, including
its early phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Impact Communications was its early phase.
Middle Phase
The second phase in the development of Impact Communications was its middle phase.
Recent Phase
The third phase in the development of Impact Communications was its recent phase.
Statistics
The second section of Impact Communications profile will review some key statistics
regarding the firm.
Businesses
The third section of Impact Communications profile will outline its core businesses.
Impact Communications has a number of businesses.
Organization & Ownership
The final section of Impact Communications profile will address is organizational
structure & ownership.
Impact Communications has a web site that is streamlined into three categories
including Independent Advisors, Allied Institutions, and Professional Journalist.
Impact Communications is led by its CEO Marie Swift.
Impact Communications owned by Marie Swift.
Informa
Informa was founded.
History
The first section of Informas profile will explain the key historical events in the firms
development.
Informa acquired Mobius Group in 2006 from Check Free.
Businesses
The second section of Informas profile will outline its core businesses.
Informa has at least one business, including its Mobius Group..
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Mobius Group
Informa's Mobius Group is the leader in database and analytical software to investment
industry professionals.
Informas Check Free Mobius Group has three key products, including M-Pact, MSearch, & M-Watch.
Informa's Mobius Groups M-Watch and M-Vest are two related products. Specifically,
details include:
M-Watch
Product Description
Windows-based performance reporting and evaluation system
Reporting for portfolios, asset class segments, and portfolio/asset
class segments
Calculates rates of return
Analyzes absolute and relative risk
Asset allocation analysis
Fee Schedule (Annually)
License fee is $2,000 plus $12.50 per portfolio (maximum portfolio fee
is $25,000)
Optional features range from producing reports at asset class level
($2,000) to multi-user capabilities ($3,000) and production monitoring
($2,000)
Outsourcing of reporting available; price is a base $100, plus $25 per
report to structure, reports are minimum $70 and there is a charge to
import third-party data, create mutual fund statements, and to produce
additional print or transparency copies
M-Vest
Product Description
Windows-based asset allocation system
Utilizes Vestek Systems expected return forecasts
Multiple risk-tolerance evaluation methods
Access to returns of more 5,500 private account manager composites
from M-Search database
Fee Schedule (Annually)
Single currency license fees are $3,500, and $2,000 for additional
sites; multiple currency products are $8,500 and additional sites
$5,000
Historical returns data sets range from US Basic with 32 indices
($750) to Global set with 520 indices ($9,000)
Other data packages range from $3,000 to $20,000
Informa's Mobius other products include M-Plan, M-Prep, and Leonard 2000.
Specifically, details include:
M-Plan
Product Description
Windows-based integrated financial planning system analyzing
clients objectives, assumptions, and current resources
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Retirement planning
Estate planning
Multiple report styles
Focuses on retirement and estate planning
Sells retirement module separately from estate planning module, as
well as together
Adding tax analysis and education planning later this year
No additional word-processing or graphics software is required
Reports can be customized
Single site/multi-user fees are $1,695 for the first year, and $1,000
each year after
Fee Schedule (Annually)
Fees for retirement or estate planning modules, single-site is $695 for
the first year and $300 per year afterwards; multi-user is $895 then
$400 per year
Fees for both modules together is $1,195 for the first year and $500
per year afterwards for single-site license, or $1,595 for multi-user
($700 per year afterwards)
M-Prep
Product Description
Comprehensive retirement analysis
Windows compatible
Customizable reports for proprietary appearance
Use of current versus proposed allocations to motivate clients
Quick plan feature for initial client visit
Financial Planning Digest found M-Prep to be easy-to-use
Extensive product support via phone and online
Fee Schedule (Annually)
Single user license is an initial $700 and a $500 subsequent annual
fee
Network license (up to five users) is $900 and subsequently $600
annually
Additional block of five network users is $100 initially and $100
annually
Leonard 2000
Product Description
Comprehensive financial planning system
Over 40 presentation reports available, and multiple, customizable
report styles
Simplified client questionnaire and data output
Tax law updates
Fee Schedule (Annually)
Initial fee is $1,000 for a single-site license and $350 for every
additional license
Maintenance fees are payable annually ($1,000/$350) or monthly
($100/$35)
Informa's Mobius Groups M-Plan retirement & estate planning software is no longer
offered.
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Programs
Associate products with organizations programs
Informa's M-Pact Product Provides a Seven-Step Investment Advisory Process for
Advisors, Including Client Profiling, Risk Profiling, Asset Allocation, and Model Portfolios.
Specifically, details include:
Client Profiling
Information gathering
Risk Profiling
Determine fitting asset allocation
Asset Allocation
-Quick Search Feature
Quickly screen & rank top performers in a peer group
Advanced Search Feature
Screen & rank products based on qualitative & quantitative criteria
Model Portfolio
New portfolio construction or recommendation of predefined portfolios
Investment Proposals
-Informa's M-Search is Mobius product for comparing separate account managers.
Informas Check Free has an annual fee schedule to help compare separate account
managers, including single-site licenses and corporate licenses. Specifically, details
include:
Single-Site License
Quarterly updates for $5,000, additional licenses are $4,000
Two updates per quarter adds additional $600 per license
Corporate License
Cost $14,000 and include three installations, updates twice per quarter, and
free use of data and reports by all employees
Additional licenses are $3,750
Other options $500-$4,000
Customized packages are available
Informa's M-Search is offered by Mobius at a discount through The Charles Schwab
Corporation.
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Informas Check Free offers users a free two-day M-Search classroom training program
around the country throughout the year.
Informas Check Free offers six online M-Search training programs, available with an
internet connection and a toll-free phone call, including basics of M-Search, M-Search
enhancements, & advanced search techniques. Specifically, details include:
Basics of M-Search
Free online orientation
M-Search Enhancements
Free
60 minute
Overview of new system features
Advanced Search Techniques
Free
Provides information on how to conduct thorough searches
Page Customization with Presentation Studio
Free
Basics on creation of custom report pages
M-Search Advanced Analytics
Free
One hour
All aspects of advanced calculation capabilities
Customizing M-Search
Creating benchmark defaults, timeframes, manager & index blends, style
analysis models, downside risk parameters, and update authorization files
Informas Check Free also provides a team to travel on-site for custom M-Search
training and consulting services at users expense.
Informa's M-Watch is the final product in the Check Free Investment Services Suite.
Informa's M-Watch also has an annual fee schedule.
Informa's M-Watch has optional features, including producing reports at asset class level
to multi-user capabilities and production monitoring.
Informas Check Free M-Watch has five key features, including several reporting
features, flexibility, and data & calculations. Specifically, details include:
Performance Reporting
Over 70 predefined presentation reports
200 benchmark indices
Asset class reporting
Style analysis
Report performance either gross or net of fees
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239
Reports
Custom formatted for any Mobius data
Informas Check Free partnered with Thomson Financial to provide separate account
manager data for Thomsons One Advisor Portfolio Management Software.
Informa's Mobius the best known source of separate account manager data and a
leading information tool.
Informa's Mobius receives some concerns about its pricing and capabilities.
Informas Check Free used to offer the Mobius M-Vest product, but it is no longer in its
published offerings.
Informa's Mobius M-Vest product also has an annual fee schedule for single company &
multiple company licenses. Specifically, details include:
Single Currency License
Fees are $3,500
$2,000 for additional sites
Multiple Currency License
Fees are $8,500
$5,000 for additional sites
Informa's Institutional Services Business has a Caliper performance reporting business.
Informa owns Investment Scorecard.
Informas investment scorecard has 80 employees.
Informas Investment Scorecard has 600 clients.
Informas Investment Scorecard claims to hold an impressive 97% client retention rate.
Informas Investment Scorecard gives institutions have a choice of getting performance
reports in six different levels of detail. Specifically, details include:
Class Scorecard
Offers basic investment analysis at the broad asset class level, displaying
each asset class, and measuring them against appropriate indexes
Enhanced Class Scorecard
Examines a clients portfolio at the asset class level, giving clients crucial
investment analysis by engaging in a more involved investigation of a
portfolios performance
Subclass Scorecard
Delves deeper into a clients portfolio, analyzing it at the subclass level
240
Dissecting the asset classes into subclasses provides greater detail on how
the account is managed and presents clients with the opportunity to better
pinpoint the origins of the portfolios gains and losses
Specifically,
Jeff Powell
Most recently CEO and Managing Partner of JC Bradford
Fred Goad
Co-CEO/Transaction Services Division of Web/MD
Chris Horgen
Senior Managing Partner of South Eastern Technology Fund; former CEO of
Nichols Research Corporation
Townes Duncan
President of Solidus, an investment partnership
241
Charles Blankenship
Chairman
Co-founder & president of Network Data
Joe Maxwell
President and CEO of Investment Scorecard
Informa owns Investment Solutions. It was founded in 1976 and was based in White
Plains, NY. It is run by managing director Lac An Vuong, and its web site is
www.informais.com.
Informa Investment Solutions created the financial planning platforms AdvisorDecide
and iDecide.
Informa Investment Solutions was founded and has evolved through three phases,
including its early, middle, and recent phases.
Informa Investment Solutions has a number of businesses.
Effron was founded in 1984, but then acquired by T&F Informa.
Effron has a separate account manager database called Plan Sponsor Network (PSN).
Effron offers a performance reporting tool called Performer.
Informa Investment Solutions owns Net Decide.
Organization & Ownership
The final section of Informas profile will address is organizational structure & ownership.
Informa Investment Solutions has a web site.
Informa Investment Solutions is led by its management.
Informa Investment Solutions is privately owned.
Informas Investment Scorecard is led by CEO Joe Maxwell and overseen by Chairman
Charles Blankenship.
Informa has a web site.
Informa is led by its management.
Informa is privately owned.
Info USA
Info USA was founded.
242
History
The first section of Info USAs profile will explain the key historical events in the firms
development.
Info USA was founded and has evolved through three phases, including its early phase,
middle phase, and recent phases.
Early Phase
The first phase in the development of Info USA was its early phase.
Middle Phase
The second phase in the development of Info USA was its middle phase.
Recent Phase
The third phase in the development of Info USA was its recent phase.
Statistics
The second section of Info USAs profile will review some key statistics regarding the
firm.
Businesses
The third section of Info USAs profile will outline its core businesses.
Info USA has several businesses, including opinion research.
Opinion Research
Info USAs first business is its Opinion Research.
Organization & Ownership
The final section of Info USAs profile will address is organizational structure &
ownership.
Info USA has a web site.
Info USA is led by its management.
Info USA is privately owned.
Ink & Air
Ink & Air is led by its CEO Elizabeth Chapman.
History
The first section of Ink & Airs profile will explain the key historical events in the firms
development.
Ink & Air was founded and has evolved through three phases, including its early phase,
middle phase, and recent phases.
Early Phase
The first phase in the development of Ink & Air was its early phase.
243
Middle Phase
The second phase in the development of Ink & Air was its middle phase.
Recent Phase
The third phase in the development of Ink & Air was its recent phase.
Statistics
The second section of Ink & Airs profile will review some key statistics regarding the
firm.
Businesses
The third section of Ink & Airs profile will outline its core businesses.
Ink & Air has a number of businesses.
Organization & Ownership
The final section of Ink & Airs profile will address is organizational structure &
ownership.
Ink & Air has a web site.
Ink & Air is led by its CEO Elizabeth Chapman.
Ink & Air is privately owned.
Innovest Strategic Value Advisors
Innovest Strategic Value Advisors was founded in 1995 by Matthew Kernan and is
based in New York, NY. The firm is led by its CEO Matthew Kiernan. Its web site is
www.innovestgroup.com.
History
The first section of Innovest Strategic Value Advisors profile will explain the key
historical events in the firms development.
Innovest Strategic Value Advisors was founded in 1995 and has evolved through three
phases, including its early, middle, & recent phases.
Businesses
The second section of Innovest Strategic Value Advisors profile will outline its core
businesses.
Innovest Strategic Value Advisors offers four services, including its portfolio maximizer,
custom portfolio analysis, & consulting services.
Consulting
Innovest Strategic Value Advisors fourth service is its consulting services
Organization & Ownership
The final section of Innovest Strategic Value Advisors profile will address is
organizational structure & ownership.
244
Innovest Strategic Value Advisors has a detailed web site, sectioned into five parts,
including about us, products & services, publications, news & events, & contact us.
Innovest Strategic Value Advisors is led by its CEO.
Innovest Strategic Value Advisors is owned by its shareholders.
Insource
Insource was founded.
History
The first section of Insources profile will explain the key historical events in the firms
development.
Insource was founded and has evolved through three phases, including its early phase,
middle phase, and recent phases.
Early Phase
The first phase in the development of Insources development was its early phase.
Middle Phase
The second phase in the development of Insources development was its middle phase.
Recent Phase
The third phase in the development of Insources development was its recent phase.
Statistics
The second section of Insources profile will review some key statistics regarding the
firm.
Businesses
The third section of Insources profile will outline its core businesses.
Insource has a number of businesses.
Organization & Ownership
The final section of Insources profile will address is organizational structure &
ownership.
Insource has a web site.
Insource is led by its management.
Insource is privately owned.
Investcorp
Investcorp was founded in 1982 and is based in Bahrain.
History
The first section of Investcorps profile will explain the key historical events in the firms
development.
245
Investcorp was founded in 1982 and has evolved through three phases, including its
early, middle, and recent phases.
Businesses
The second section of Investcorps profile will outline its core businesses.
Investcorp offers a number of services.
Source Media
Investcorps first business is Source Media
Investcorps Source Media has a number of businesses, including its National
Regulatory Services.
National Regulatory Services
Investcorps Source Medias first business is National Regulatory Services.
Organization & Ownership
The final section of Investcorps profile will address is organizational structure &
ownership.
Investcorp has a web site.
Investcorps Source Media has a web site.
Investcorps Source Medias National Regulatory Services has a web site.
Investcorp is led by its management.
Investcorps Source Media is led by its management.
Investcorps Source Medias National Regulatory Services is led by its management.
Investcorp is owned by its shareholders.
InvestTech
InvestTech was founded in 1993 by Bruce Vollert & Jeremy Hurwitz. It is based in
Woodland Hills, CA. It is a provider of investment systems and investment operations
consulting to asset managers. Its website is www.investtechsystems.com.
History
The first section of InvestTechs profile will explain the key historical events in the firms
development.
InvestTech was Founded in 1993 and has evolved through three phases, including its
early, middle, & recent phases.
Early Phase
The first phase in the development of InvestTechs development was its early phase.
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InvestTech was founded in 1993 to provide investment systems & investment operations
consulting to asset managers.
Middle Phase
The second phase in the development of InvestTechs development was its middle
phase.
Recent Phase
The third phase in the development of InvestTechs development was its recent phase.
Statistics
The second section of InvestTechs profile will review some key statistics regarding the
firm.
Businesses
The third section of InvestTechs profile will outline its core businesses.
InvestTech Has Four business
products, including Strategic
Planning, Systems Evaluation &
Selection,
System
Implementation, & Operational
Reviews.
InvestTech Businesses
Strategic Planning
InvestTechs first business is
Strategic Planning.
Systems Evaluation &
Selection
InvestTechs second business is
Systems Evaluation & Selection.
InvestT ech
Businesses
Strategic
Planning
Systems
Evaluation &
Selectio n
Systems
Implementation
Operation
Reviews
Source: 1/ 21/ 09 Inv es tT ech Web Sit e; T iburon Researc h & Analysis
Systems Implementation
InvestTechs third business is Systems Implementation.
Operational Reviews
InvestTechs fourth business is Operational Reviews.
Organization & Ownership
The final section of InvestTechs profile will address is organizational structure &
ownership.
InvestTech's Web Site is streamlined into seven sections including Company, Services,
Supported Technologies, Industry Expertise, Clients, Resource Center, & News &
Events
InvestTech is led by its Co-Founding Principals Bruce Vollert & Jeremy Hurwitz.
Additionally, Bennett Kaplan serves as Principal, Jill Katz & Kevin Coffin as Senior
Managers, and Pamela Bloom & Scott Villiers as Practice Directors.
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JCPR was founded in 2003 and has evolved through three phases, including its early
phase, middle phase, and recent phases.
JCPR was founded in 2003.
Early Phase
This section outlines JCPRs early phase.
Middle Phase
This section outlines JCPRs middle phase.
Recent Phase
This section outlines JCPRs recent phase.
Statistics
The second section of JCPRs profile reviews some key statistics regarding the firm.
JCPR has 20 employees, some of which are part-time writers.
JCPR serves 38 clients.
Businesses
The third section of JCPRs profile outlines its core businesses.
JCPR serves mutual funds, financial advisors, & financial service providers.
JCPR clients include American Beacon, AIP Funds, Ashton, & Broadridge.
JCPR generates $2.5 million revenues.
JCPR primary business is providing public relations.
JCPR first business is public relations assistance.
JCPR Public Relations Business offers twelve services, including Media Relations,
Comprehensive Public Relations Plans, Messaging & Positioning, & Writing:
Media Relations
-Comprehensive Public Relations Plans
-Messaging & Positioning
-Writing
-Daily Media Monitoring
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249
Event Planning
-Public Relations Measurement
-Analyst Relations
-Issues Management Strategy
-Speaking Engagements
-Media Training
-Social Media
-Organization & Ownership
The final section of JCPRs profile addresses its organizational structure & ownership.
JCPR web site is streamlined into seven sections, including About Us, Services, Why
JCPR, Case Studies, Our Team, Careers, & Contact Us.
JCPR is led by its CEO Jenny Connelly.
JCPR is privately owned by Jenny Connelly.
Jeffrey Gitomer
Jeffrey Gitomer was founded.
History
The first section of Jerry Gitomers profile will explain the key historical events in the
firms development.
Jeffrey Gitomer was founded and has evolved through three phases, including its early
phase, middle phase, and recent phases.
Jerry Gitomer Phase
The first phase in the development of Jerry Gitomer was its early phase.
Middle Phase
The second phase in the development of Jerry Gitomer was its middle phase.
Recent Phase
The third phase in the development of Jerry Gitomer was its recent phase.
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Statistics
The second section of Jerry Gitomers profile will review some key statistics regarding
the firm.
Businesses
The third section of Jerry Gitomers profile will outline its core businesses.
Jeffrey Gitomer has a number of businesses.
Organization & Ownership
The final section of Jerry Gitomers profile will address is organizational structure &
ownership.
Jeffrey Gitomer has a web site.
Jeffrey Gitomer is led by its management.
Jeffrey Gitomer is privately owned.
Jim Collins
Jim Collins was founded.
History
The first section of Jim Collins profile will explain the key historical events in the firms
development.
Jim Collins was founded and has evolved through three phases, including its early
phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Jim Collins was its early phase.
Middle Phase
The second phase in the development of Jim Collins was its middle phase.
Recent Phase
The third phase in the development of Jim Collins was its recent phase.
Statistics
The second section of Jim Collins profile will review some key statistics regarding the
firm.
Businesses
The third section of Jim Collins profile will outline its core businesses.
Jim Collins has a number of businesses.
Organization & Ownership
The final section of Jim Collins profile will address is organizational structure &
ownership.
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Jupiter Research
Jupiter Research was founded.
History
The first section of Jupiter Researchs profile will explain the key historical events in the
firms development.
Jupiter Research was founded and has evolved through three phases, including its early
phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Jupiter Researchs development was its early
phase.
Middle Phase
The second phase in the development of Jupiter Researchs development was its middle
phase.
Recent Phase
The third phase in the development of Jupiter Researchs development was its recent
phase.
Statistics
The second section of Jupiter Researchs profile will review some key statistics
regarding the firm.
Businesses
The third section of Jupiter Researchs profile will outline its core businesses.
Jupiter has a number of businesses.
Organization & Ownership
The final section of Jupiter Researchs profile will address is organizational structure &
ownership.
Jupiter has a web site.
Jupiter Research is led by its management.
Jupiter Research is privately owned.
Kasina
Kasina was founded.
History
The first section of Kasinas profile will explain the key historical events in the firms
development.
Kasina was founded and has evolved through three phases, including its early phase,
middle phase, and recent phases.
253
Early Phase
The first phase in the development of Kasina was its early phase.
Middle Phase
The second phase in the development of Kasina was its middle phase.
Recent Phase
The third phase in the development of Kasina was its recent phase.
Statistics
The second section of Kasinas profile will review some key statistics regarding the firm.
Businesses
The third section of Kasinas profile will outline its core businesses.
Kasina has a number of businesses.
Organization & Ownership
The final section of Kasinas profile will address is organizational structure & ownership.
Kasina has a web site.
Kasina is led by its management.
Kasina is privately owned.
Klein Decisions
Klein Decisions was founded in 2002. Its Managing Director is Robert Padgette and its
web site is www.kleindecisions.com.
History
The first section of Klein Decisions profile will explain the key historical events in the
firms development.
Robert Padgette has been in business for more than 20 years and today manages his
firm, Klein Decisions.
Klein Decisions was founded and has evolved through three phases, including its early
phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Klein Decisions was its early phase.
Klein Decisions was founded in 2002.
Middle Phase
The second phase in the development of Klein Decisions was its middle phase.
Recent Phase
The third phase in the development of Klein Decisions was its recent phase.
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Statistics
The second section of Klein Decisions profile will review some key statistics regarding
the firm.
Businesses
The third section of Klein Decisions profile will outline its core businesses.
Klein Decisions provides a number of services.
Organization & Ownership
The final section of Klein Decisions profile will address is organizational structure &
ownership.
Klein Decisions has a web site.
Klein Decisions is led by its management team.
Klein Decisions is owned by its investors.
Korn Ferry International
Korn Ferry International was founded.
History
The first section of Korn Ferry Internationals profile outlines the key historical events in
the firms development.
Korn Ferry International was founded and has evolved through three phases, including
its early, middle, & recent phases
Early Phase
This section outlines the early phase of Korn Ferry International.
Middle Phase
This section outlines the middle phase of Korn Ferry International.
Recent Phase
This section outlines the recent phase of Korn Ferry International.
Statistics
The second section of Korn Ferry Internationals profile outlines some key statistics
regarding the firm.
Businesses
The third section of Korn Ferry Internationals profile outlines its core businesses.
Korn Ferry has a number of businesses.
Organization & Ownership
The final section of Korn Ferry Internationals profile outlines its organizational structure
& ownership.
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257
Specifically,
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Survey of how top financial institutions use bricks, clicks, and collateral to
market 401(k) rollovers
Best practices for retaining IRA assets
E-Newsletters
Retirement and investment product managers
Brokers
Leaffer Shapiros core product has been a small business defined benefit program called
One Person Plus, which it licenses and markets to large financial services companies,
like Hartford, Legg Mason, and UBS. It is targeted at businesses with 1-5 employees,
especially those of high income self employed baby boomers who want to contribute
$100,000 or more each year to a tax-deferred retirement plan. The average annual
contribution is $125,000 for eight years. The package includes prototype plan
document, a streamlined adoption agreement & sales process, advisor and client
marketing & educational materials, advisor online training, and a quarterly advisor
newsletter. The package is an exclusive arrangement with one third-party administrator.
Great West Insurance subsidiary Emjay Retirement Plan Services to provides complete
plan administration services. Emjay provides outside sales force to train financial
advisors, a technical sales team to answer questions via telephone, and all actuarial,
administrative, & tax filing services. It also provides an asset gathering tool to financial
advisors. The program is licensed by four financial institutions. Hartford introduced the
program in 2001 as solo DB.
Leaffer Shapiros One Person Plus Program should benefit from at least two key trends.
Specifically, details include:
Growth of Defined Benefit Programs
Resurgence in defined benefit programs since 2002
Growth of Small Businesses
-Leaffer Shapiro believes that its One Person Plus Program adds value to financial
institutions, financial advisors, and third-party administrators. Specifically, details
include:
Financial Institutions
Provides ready to go defined benefit program
Hartford includes it in its small business plan lineup
Financial Advisors
Created a sales process
Program is bundled with TPA servicing so advisor does not need to
deal with TPAs
Third-Party Administrators
Provides flow of small business plan for them to administer
Leaffer Shapiro collects fees on its One Person Plus Program from both the financial
institution and the third-party administrator. Specifically, details include:
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Financial Institutions
Pay fees to private label & customize program plus annual licensing and
marketing fees
No asset-based or performance fees are collected
Third-Party Administrators
Pays fees for each plan when plan is set up, and then for several years if the
plan stays open
Leaffer Shapiros sales of its one person plus program have been disappointing recently,
dropping 11% from 2005. Sales dropped from $18 million in 2005 to $16 in 2006. An
11% decrease.
Leaffer Shapiro has a generic
version Of One Person Plus that
is
used
by
independent
advisors, and representing onethird of sales. The remaining
67%
are
private
labeled
versions.
Leaffer Shapiro Has a Generic Version of One Person Plus that is Used
by Independent Advisors, and Representing One-Third of Sales
Source: 5/15/06 Leaff er Shapiro Email (Leaff er); Tiburon Research & Analysis
Consulting Services
Internal audits
New product development
Marketing programs
Collateral Development
Consumers
Brokers
Internet Projects
Retirement center management
401(k) rollover center
Customized Research
-Broker Presentations
--
260
Seminars
-Sales Support
-Tools & Calculators
-Planner Portal
Database of financial planning and sales presentation tools
Leaffer Shapiro has a terrific client list, including heavyweights such as Fidelity
Investments, Merrill Lynch, and Oppenheimer Funds. The firms additional clients follow:
ADP
American Century
American First Credit Union
Bank One
Benefit Street
European American Bank
Fidelity Investments
First Bank
First National Bank of Maryland
First Tennessee Bank
European American Bank
Fidelity Investments
First Bank
First National Bank of Maryland
First Tennessee Bank
Merrill Lynch
Montgomery Asset Management
M Power 401(k) Forum
Oppenheimer Funds
Patelco Credit Union
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Leaffer Shapiro is a private company owned by Art Leaffer and Karen Shapiro. Art
Leaffer was formerly at Charles Schwab & Company, Wells Fargo, and Bank of America.
Karen Shapiro was formerly at Bank of America.
LEK Consulting
LEK Consulting was founded in 1983 and is based in London, England. The firm has 19
offices with 850 professionals. Their web site is www.lek.com.
History
The first section of LEK Consultings profile will explain the key historical events in the
firms development.
LEK Consulting was founded in 1983 and has evolved through three phases, including
its acquisitions phase, middle phase, and recent phases.
Acquisitions Phase
The first phase in LEK Consultings development was its acquisitions phase from 1983
to 1993.
LEK Consultings Alcar Group was founded in 1979 by two Northwestern University
professors.
LEK Consulting was founded as The LEK Partnership in 1983 in London, England.
LEK Consulting acquired Alcar group in 1993.
Middle Phase
The second phase in LEK Consultings development was its middle phase from 1994.
Recent Phase
The third phase in LEK Consultings development was its recent phase to 2008.
Statistics
The second section of LEK Consultings profile will review some key statistics regarding
the firm.
LEK Consulting has 19 offices.
LEK Consulting has 850 professional employees.
Businesses
The third section of LEK Consultings profile will outline its core businesses.
LEK Consulting has several businesses, including Alcar Group.
LEK Consultings last business is its Alcar Group, which was founded in 1979.
Organization & Ownership
The final section of LEK Consultings profile will address is organizational structure &
ownership.
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History
The first section of Marakon Associates profile will explain the key historical events in
the firms development.
Marakon Associates was founded in 1978 and has evolved through three phases,
including its early phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Marakon Associates was the early phase.
Marakon Associates was founded in 1978 by Jim McTaggart.
Middle Phase
The second phase in the development of Marakon Associates was the middle phase.
Recent Phase
The third phase in the development of Marakon Associates was the recent phase.
Statistics
The second section of Marakon Associates profile will review some key statistics
regarding the firm.
Marakon Associates has 326 employees, down 28 from 2001.
Marakon Associates has 30 partners, up one since 2001.
Marakon Associates has 226 consultants, down 18 from 2001.
Marakon Associates has almost seven consultants per partner, down 10% from 7.3.
Marakon Associates has over two consultants per staff member, up 5% since 2001.
Marakon Associates typically works with a relatively small number of clients annually.
Usually, 12 to 18 per year.
Marakon Associates generates revenues of over $130 million, up 15% since 2001.
Specifically, the firm generated $134 million in revenues.
Marakon Associates generates over $4 million in revenues per partner, up 13% since
2001. Specifically, firm partners each generated $4.5 million in revenues.
Marakon Associates generates almost $600,000 in revenues per consultant, up 24%
since 2001. Specifically they generated $593,000 in revenues per consultant.
Marakon Associates primary markets are Europe and North America, accounting for
90% of revenues. Specifically, Europe is Marakon Associates biggest market,
accounting for 50% or over of its revenues successive years. The United States is the
firms next largest market, accounting for 34% and 40% of the firms revenues over the
same successive years as Europe. Finally, Asia Pacific accounts for 16% and 8% of the
firms revenues over the same successive years as Europe and the United States. It is
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265
Statistics
The second section of March Firsts profile will review some key statistics regarding the
firm.
Businesses
The third section of March Firsts profile will outline its core businesses.
March First has a number of businesses.
Organization & Ownership
The final section of March Firsts profile will address is organizational structure &
ownership.
March First has a web site.
March First is led by its management.
March First is privately owned.
Mars & Company
Mars & Company was founded.
History
The first section of Mars & Companys profile will explain the key historical events in the
firms development.
Mars & Company was founded and has evolved through three phases, including its early
phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Mars & Company was its early phase.
Mars & Company was founded
Middle Phase
The second phase in the development of Mars & Company was it middle phase.
Recent Phase
The third phase in the development of Mars & Company was its recent phase.
Statistics
The second section of Mars & Companys profile will review some key statistics
regarding the firm.
Businesses
The third section of Mars & Companys profile will outline its core businesses.
Mars & Company has a number of businesses.
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267
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Businesses
The second section of Matrix Financial Solutions profile will outline its core businesses.
Matrix Financial Solutions has six businesses, including its Matrix Settlement &
Clearance Services, MG Trust Company, MG Advisory Services, Optech Systems, &
Prima Capital Holding.
Prima Capital Holding
Matrix Financial Solutions sixth business is its Prima Capital Holding. It was founded in
1998 ,is based in Denver, CO, and generates $700,000 in revenues. Its CEO is Gib
Watson. Its web site is www.primacapital.com.
Matrix Financial Solutions Prima Capital was founded in 1998.
Matrix Financial Solutions' Prima Capital offers web-based applications.
Matrix Financial Solutions' Prima Capital reduced pricing on its Prima Guide on two
different occasions. Prima Capitals 2000 price reductions included:
Prima Guide Base reduced from $5,000 to $2,500
Prima Guide Mid reduced from $12,000 to $7,500
Prima Guide Summit remained at $25,000
Matrix Financial Solutions' Prima Capital reduced pricing on its Prima Guide again in
2001. Prima Capitals 2001 price reductions included:
Prima Guide Base remained at $2,500
Prima Guide Mid reduced from $7,500 to $7,000
Prima Guide Summit was reduced from $25,000 to $15,000
Matrix Financial Solutions' Prima Capital was named best of breed by CPA2Biz.
Matrix Financial Solutions' Prima Capital hired Cherry Creek Private Equity fund to
oversee the raising of $2.3 million of capital in three rounds. Specifically, details include:
First Round
$1.5 million raised in 1999
Investors:
Merriman Business Ventures
Hawthorne Colorado
Richard Barrett
Gib Watson
Steven Buck
Cherry Creek Private Equity Fund
Lost Angel Ventures
BACE Investments
Second Round
$815,000 raised between 2000-2002
Originally sought $1- $3 million by 2002
Investors:
Richard Barrett
Hawthorne Colorado
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Third Round
Sought to Raise Between $1-$3 Million in 2003
Strategic Finance was the banker involved
Potential Investors:
Vista Ventures
Odin Capital
Anshutz Investments
Informa
Reuters
Bloomberg
Standard & Poors
Kobren Insight
Matrix Financial Solutions' Prima Capital has speared an impressive client list, including
Bank of America and Standard & Poors. Other clients include Bank of America, Bear
Stearns, Harris Bank, Key Bank & McDonald Investments, and RW Baird.
Matrix Financial Solutions' Prima Capital struggled to build a relationship with The
Charles Schwab Corporation.
Matrix Financial Solutions' Prima Capital has a handful of strategic client relationships.
Specifically, client relationships include:
McDonal Investments
Utilize Prima Guide
Used for data to supplement internal research
Provides due diligence and performance monitoring on McDonalds
proprietary and affiliated money managers
Managers submit portfolios and commentary to Prima
Sends email updates to advisors
Planned to build a mutual fund wrap program for McDonald
RSM McGladrey
Employs custom application of Prima Guide
Bank of America
Utilizes Prima for manager research
Provides web-based analytical content on select proprietary and third party
separately managed account products
Also includes Primas mutual fund research on its ManagerLink portal
270
Bear Stearns
Signed a three-year agreement in 2002 to utilize Primas services
Capital Professional Advisors
Provides research, due diligence, and consulting services on money
managers available in the Capital Advisory Services program
Recommends additional money managers for Capital Professional Advisors
program
Matrix Financial Solutions' Prima Capital also serves a handful of financial advisors.
Specifically, financial advisors served include:
DeWaay & Associates
Empire Investment Advisory
Financial Securities Group
Moneta Group
Mosaic Group
Matrix Financial Solutions' Prima Capital generates less than $1 million in revenue.
Matrix Financial Solutions' Prima Capital claims to be operating profitably.
Matrix Asset Allocation's Prima Capitals model has received positive feedback from
separate account managers. Specifically, details include:
Positives
It is difficult for smaller separate account managers to participate in MAC,
and they would get a lot of exposure out of Prima
There is dissatisfaction with what Mobius provides to the separate account
managers
Most separate account managers perceive a strong need for education for
financial advisors in separately managed accounts and how to conduct due
diligence
Separate account managers see little return on the time spend completing
RFPs for individual financial advisors, but are interested in a central
repository of basic separate account manager info that this easy to access
and easy to update
Few separately managed account clients come from MAC, and most are
direct even if MAC was a source of data on the managers
Suggestions
When interviewing managers for the database, get input on what reports
they want to see
Charging separate account managers may help reduce the cost of the
product for financial advisors
Educate separate account managers on the growing CPA and family office
markets
Matrix Asset Allocation's Prima Capitals standard due diligence and standard request
for proposal processes are perceived by managers to be keys for serving the advisor
market. Specifically, manager comments on Prima Capital include:
271
272
General Comments
None of this is outside our reach if member services wanted to access. We
would look at the first four. Its also possible wed want the best managers
list. It just depends on the first levels and our experiences with Prima. Its
possible that they would go to last tier if the price is lower
Matrix Asset Allocations Prima has received concerns about its pricing. Specifically,
comments include:
I don't know what would be reasonable or not. If we got into hedge funds as a
fund of funds, I could see paying $10,000 a year to help us do research on them.
We'd need to start the whole process from scratch
The $3,000-$5,000 price sounds like Callan and we couldnt see enough value
with them to go there. It is all interesting and you need all that so it is difficult to
modularize it but that price sure makes me shy away. I would pay maybe $5,000$6,000, which doesnt mean its not worth more, but that is all I could afford. If I
had $300-$500 million I think it would be a fair price if separate accounts were
my main business
Matrix Financial Solutions' Prima Capital may have a bigger challenge getting traction
with fee-only financial advisors due to the price of its product. Specifically, comments
include:
At least double Morningstar because of the increased time, but definitely a fixed
price, about $2,000 per year. Not basis points or a percentage
I only have 15 clients for whom it would be appropriate. I can't pay $15,000 or
$1,000 per client. A product at $15,000 strikes me as a big commitment for a
product I am not using heavily. Morningstar is only $700, although I know this
would be more work. $15,000 would double my research budget. Maybe they
can price it lower by sub-dividing the data; I may only want large-cap managers.
If I think it is expensive at $90 million, a $25 million guy will think it is really
expensive
Depends on the pricing. Many are getting into separately managed accounts via
Schwab and don't buy Mobius. I think advisors are willing to pay $5,000, not
$15,000 like for Mobius
Mobius has a significant market share but it is expensive; there is the market
there for those with $30 to $50 million, one-man shops want it but won't pay
Mobius prices. But I think there is a fabulous market for Prima. What they would
pay depends on how extensive the info is; if you could get less depth and get the
price to $1,000 to $2,000 I think you'd have something
There is a market at a lower price
Sounds like about $5,000
273
The price itself ($15,000) is a very small part of the whole pricing when a CPA
firm is thinking of adding on a department. Once you have the salary of a couple
of mid-level or a senior person at $80-$100,000 each, $15,000 isn't much
If the info was there and was clear we'd pay that, $3,000-$5,000. We can do
risk/return and attribution and all that, but could be persuaded to go up to the
second level to leverage our time. Very much depends on quality.
It is hard to see paying $15,000 for 100 managers. I would probably start with
the smallest until they grew the number of managers. Needs to be more
extensive
Sounds like it's pretty expensive to me. It appears to be a supped up Mobius.
Since we do a lot of research it wouldn't be worth it to me. I wouldn't feel
comfortable using someone I wasn't familiar with. Another issue is how many
managers are they going to have? If it were robust, and had attribution analysis
and all that I would maybe pay between $5,000 -$10,000
Those are big numbers for firms our size. We generally don't subscribe if it
costs over $10,000. If we do, the product aids in our research. If we were three
times the size I would consider all three product ranges
Those price ranges need to talk to affluent firms. Those are too high for an RIA
with $25-$50 million
I think it would be about half that price, across the board
Matrix Financial Solutions' Prima Capital receives some positive market feedback with
many focusing on the facts. Specifically, comments include:
Positive Feedback
Offers breadth and depth of content
Includes tax performance evaluation
Offers analyst opinions
Differentiators B2B, web-only, private accounts only, unbundled
It is the content that sets them apart
There could be a future market for this, and they could make the product for
it now
It is interesting. We're never going to use a Lockwood. We have some data
and software to analyze but we don't have the time. MAC is limited and I want
a broader selection. We could clearly use something like Prima, but it has got
to be cost efficient
I'd use the database but like doing the rest. The key would be the
comparability of the data and how much confidence I have in the staff. How
good is their due diligence and how much does it cost? I may also be
interested in kicking it around with someone, but I don't want someone to do
it for me
Smart, niche player
A lot of guys like what they see
Prima's focus on CPAs who are thinking about it seems good as about 30
states now let CPAs do that sort of thing
Factual Feedback
I know the guys over at Lockwood and they oversee managing accounts
while Mobius is a database, so there is a big gap
Online provider of research and due diligence on private account manager
100% web based
274
I think there is a large market; SEI and Lockwood are capturing huge market
share and financial advisors like myself are becoming more asset gatherers
so it is a question of where they add value
General Comments
Sounds like firms who are using Mobius would see it as competitor. Most
CPA firms are looking for a TAMP, like Lockwood. Few CPAs in the group
are trying investment management. Ultimately it could be both a tool and a
competitor. If we could have been a Lockwood, we would have been one
right out of the shoot. We just didnt have the money
We were worried about becoming reliant on specialists. In order for us to
expand, we would need to add a department that would be centered around a
single professional who would be hard to easily replace if they left. But there
are probably about 50,000 CPA firms, about 1/3 of which are thinking about
going into investment management
I had a cup of coffee with Gib and Chris. Two products, if I remember, where
one was evaluation of money managers and one was of mutual funds. We
see people like Mercer and who are quite expensive, but on a long-term basis
can be really expensive. We are looking to how we can do it ourselves
Matrix Financial Solutions' Prima Capital has received concerns regarding its financial
stability and exit strategy. Specifically, comments include:
Financial Stability:
Issue re survivability
Got to turn a profit and build a business
Exit Strategy:
What happens when they get bought out
What is the out strategy
Depth of Information:
If they are serious and want to shift 100% of their business to separate
accounts, they need more than just raw data, they need research
Matrix Financial Solutions' Prima Capital has a number of businesses.
Matrix Asset Allocation's Prima Capitals core offer is its Prima Guide Research & Due
Diligence.
Matrix Financial Solutions' Prima Capital maintains a universe of 700 separately
managed accounts, 1,000 mutual funds, and 200 exchange traded funds. Specifically,
37% of Prima Capitals universe is made up of separately managed accounts. 52% are
mutual funds. And the remaining 11% are ETFs.
Matrix Financial Solutions' Prima Capital positions itself between manager databases
and fully bundled TAMPs.
Matrix Financial Solutions' Prima Capital offers three levels of separate account
manager research through Prima Guide. Specifically, details include:
275
Base
$2,500/year
Mostly quantitative data
Firm description
Organizational summary
Investment decision-making process
Portfolio holdings and characteristics
Economic sector analysis
Evaluative performance analytics
Operations data
Contacts for firm ADVs and contracts
Standard reports for client presentation
Request for Proposal (Lite): Managers fill out an electronic form with data and
facts
Risk & Return Analysis: Returns-based regression to determine the best
benchmark to use and then to measure performance relative to that
benchmark
Mid
$7,000/year
Adds several features to base level
Manager interviews
Analyst opinions and commentary
Search capabilities
On-site due diligence summaries
Benchmark analytics
Performance attribution analysis
Universe construction and manager comparisons
Prima Capital's advisory commentary
Advanced, private label reporting for client presentations
Request for Proposal (Full): Same as Lite, but more data provided
Attribution Analysis: Calculate what has driven past performance (whether
good or bad), e.g., asset allocation, security selection, market timing, etc.
Due Diligence and Advisory Comments: In-person office visits to assess
portfolio, service, and marketing processes with a focus on organizational
dynamics and the sustainability of performance
Summit
$12,000/year
Adds several features to mid level
Prima rankings
Advanced search capabilities
Prima Capital's rankings for best-of-class managers and mutual funds
Ability to tailor manager searches to match client parameters
Expanded List of Other Investments: mutual funds, hedge funds, and private
equity
Recommendations List: Specific manager recommendations based on past
performance, due diligence, and future predictions
Model Portfolios and Back Testing: Specific suggested portfolios based on
their risk parameters
276
Matrix Financial Solutions' Prima Capital is an efficient purchase for larger firms.
Matrix Financial Solutions' Prima Capital is targeting the institutional market & its
research can be integrated into any system.
Matrix Financial Solutions' Prima Capital has alliances with CPA2Biz, Standard & Poors,
and TD Ameritrade. Specifically, details include:
CPA2Biz
Provides investment research for CPA2Bizs Investment Advisory Services
Resource Center
Allows over 330,000 CPAs to access selected vendors that provide valueadded services
Standards and Poors
Provides research, due diligence, and advisory services on separately
managed accounts for Standard & Poors Advisor Insight web site
40,000 subscribers
TD Ameritrade
Distributes standard Prima Guide application to TD Waterhouses network of
fee-only financial advisors
Matrix Financial Solutions' Prima Capital provides due diligence, manager evaluations,
and rankings.
Matrix Financial Solutions' Prima Capital includes research on 157 separate account
managers, with 359 products and 68 mutual fund companies with 168 funds.
Matrix Financial Solutions' Prima Capital managers input data.
Matrix Financial Solutions' Prima Capital offers three levels of services.
Matrix Asset Allocation's Prima Capitals principals developed the applications for KPMG
Peat Marwick and transferred this system to the new firm.
Matrix Financial Solutions' Prima Capital targets CPAs, fee-only financial advisors, and
independent broker/dealers.
Organization & Ownership
The final section of Matrix Financial Solutions profile will address is organizational
structure & ownership.
Matrix Financial Solutions has a detailed web site that is divided into five sections,
including about Matrix, affiliates, solutions, news & events, and contact us.
Matrix Financial Solutions' Prima Capital has an in-depth web site with sections including
company, Prima advantages, products & services, information & resources, & contact
us.
Matrix Financial Solutions is led by its CEO Cliff DAmato.
277
Matrix Financial Solutions' Prima Capital is led by its CEO Gib Watson.
Matrix Asset Allocation's Prima Capitals board of directors include Hugh Williamson,
Lisa Johnson, George Merriman, and Gib Watson; Tiburon Strategic Advisors managing
principle Chip Roame was also a former board director.
Matrix Financial Solutions is privately owned.
Matrix Financial Solutions' Prima Capital is owned slightly more than half by Matrix
Financial Solution. Specifically, 52% of the company is owned by Matrix Asset
Allocation, while the other 48% is held by other investors.
McColl Partners
McColl Partners is led by its CEO Hugh McColl.
History
The first section of McColl Partners profile will explain the key historical events in the
firms development.
Businesses
The third section of McColl Partners profile will outline its core businesses.
McColl Partners was founded as an investment banking firm specializing in mergers &
acquisitions, focusing on companies with less than $250 million in revenues.
McColl Partners has several various businesses.
Strategic Advising
McColl Partners final business is its consulting business.
Organization & Ownership
The final section of McColl Partners profile will address is organizational structure &
ownership.
McColl Partners has a web site.
McColl Partners is led by its CEO Hugh McColl.
McColl Partners is privately owned.
McKinsey & Company
McKinsey & Company was founded in 1926 by James McKinsey. The firm is based in
New York, NY and has operations in 45 countries, with 84 offices, 16,000 employees,
6,500 professionals, and 850 partners, generating $4.4 billion in revenues. The firms
Managing Director is Ian Davis and its web site is www.mckinsey.com.
History
The first section of McKinsey & Companys profile will explain the key historical events in
the firms development.
278
McKinsey & Company has evolved through four phases, including its founding phase,
growth phase, troubled phase, and maturity phase:
Founding Phase
The first phase in McKinsey & Companys development was its founding phase from
1927 to 1950.
McKinsey & Company was founded as James McKinsey & Company by James
McKinsey in 1926.
McKinsey & Companys heart & soul, Marvin Bower, joined the firm in 1933. He was the
firms fourth Managing Director. During his 70 tenure with the firm, he objected to the
marriage of consulting and accounting and steered the firm towards a behind the scenes
role serving the most senior executives.
McKinsey & Companys predecessor firm James McKinsey & Company merged with
Scovell, Wellington, & Company in 1936.
Growth Phase
The second phase of McKinsey & Companys development was its growth phase from
1951 to 1999.
McKinsey & Company opened its first international office in London in 1959.
McKinsey & Company launched The McKinsey Quarterly in 1964.
McKinsey & Companys Marvin Bower published The Will to Manage in 1967.
McKinsey & Company acquired Information Consulting in 1989.
McKinsey & Company established the McKinsey Global Institute in 1990.
McKinsey & Company established its China office in 1994, and has seen a great deal of
business come from that country since. McKinsey & Companys entry into China was
facilitated by the fact that its earliest clients were multinational companies accustomed to
working with outside consultants. McKinseys work in China has been growing at a rate
of 20%-30% each year.
McKinsey & Company lost several partners and promising associates for positions at
high-tech start-ups during the late 1990s. These losses created worries about internal
values and the retention of valued staff.
Troubled Phase
The third phase of McKinsey & Companys development was its troubled phase from
2000 to 2003.
McKinsey & Company requested partners contribute back to the partnership in a capital
call in 2001 while claiming that it was a routine mechanism for generating capital
internally and not tied to performance. All 850 partners, including 275 senior level
directors were asked to give money back to the firm either in cash or through bank
loans. It was claimed that the capital call was a routine mechanism for generating
279
capital internally and not tied to performance. A similar call was used when the firms
revenues rose an estimated 17%. The capital call mechanism has been used five times
in the past ten years. McKinsey employs a just in time approach to cash management
and keeps little cash on hand.
McKinsey & Company changed its evaluation and selection criteria for consultants in
2002.
McKinsey & Company had a surge in authorship by consultants in 2002.
McKinsey & Company alumni got caught up in the Augusta National controversy in
2002. Former Managing Director Frederick Gluck and semi-retired director Robert
OBlock are members of Augusta National.
McKinsey & Company was having a difficult time managing its information in 2002. The
firm found its own research and information systems lacking. The results of the study of
its research and information systems resulted in the restructuring of its research staff. In
addition, the firm sharply increased the amount of money invested in knowledge
management.
Organization of its research and information is crucial because
knowledge and analysis is the firms selling point.
McKinsey & Company was engaged by United Airlines to advise its Chapter 11
proceedings in 2002 to craft a vision for the airline to increase revenue by adopting lowfare airline techniques. McKinsey studied whether certain discounts to corporate
customers should be scaled back or even eliminated. McKinsey pushed United to adopt
techniques of low-fare airlines, praising the advantages of having a fleet of similar or
identical aircraft which would require the same maintenance procedures. The firm has
been a popular target of critics of United Airlines reorganization. McKinsey worked on
turnaround strategies employed by two European carriers before they failed, which may
have contributed to the view of creditors who seemed unsure that the firms work can
add value. McKinsey was due $4 million by the end of 2003.
McKinsey & Company was engaged by the Securities & Exchange Commission to
determine ways to increase operating and technology efficiency in 2002. McKinseys
work was the first external study of the SEC since its inception in 1934.
McKinsey & Company was retained by the Federal Deposit Insurance Corporation to
improve its methods for predicting losses from future bank failures in 2003. The ultimate
goal was for the agency to use the latest risk analysis tools in helping to eliminate
potential future losses.
McKinsey & Companys key recommendations it made to the Federal Deposit Insurance
Corporation included shortening its loss ratio, developing guidelines for future losses,
refining cost calculating methods, and introducing a new credit risk model. Specifically,
details include:
Shortening Loss Ratio
Analysts use a two-year historical loss ratio instead of current five-year
horizon
Developing Guidelines for Future Losses
280
Maturation Phase
The fourth phase in McKinsey & Companys development was is maturation phase from
2004 to 2008.
McKinsey & Company came under scrutiny in 2007 when Thomas Leifs book, Advised
& Deceived, criticized the firm by comparing it to Opus Dei for secretively wielding power
without responsibility. Leif described McKinsey & Company as shadowy background
operators who use jargon to fudge meaning and feed struggling corporate managers
with little more than recycled information.
Statistics
The second section of McKinsey & Companys profile will review some key statistics
regarding the firm.
McKinsey & Company has operations in 45 countries.
281
McKinsey & Company has 84 offices, which has remained relatively consistent since
2002. The number of McKinsey offices has fluctuated between 80 and 84 since 2007.
Specifically,
McKinsey
&
McKinsey & Company Has 84 Offices, Which Has Remained
Company had 80 firm offices in
Relatively Consistent Since 2002
2004, 82 firm offices in 2005,
and 84 firm offices in 2007.
McKinsey & Company Offices
McKinsey & Company has
16,000 employees worldwide.
McKinsey & Company employs
6,500 professionals, up almost
100% since 1994. Specifically,
the firm
employed 3,300
professionals in 1994, 3,944 in
1996, 4,500 in 2002, and 7,200.
The number of employees at
McKinsey has decreased by
10% since 2003.
82
80
82
84
2 002
20 04
2005
20 07
Source: 4/25/05 McKinsey Web Site; 12/9/04 Hoovers Online; 6/03 Consulting M agazine;; Tiburon Research & A naly sis
McKinsey & Company has 850 partners, which has remained relatively consistent in
recent years.
McKinsey
&
Companys
partners make up nearly onefifth of the total work force.
Specifically,
19%
of
the
workforce has the status of
partner, with the remaining 81%
having non-partner status.
McKinsey
&
Company
generates over $4 billion in
revenues, up 46% since 2002
Specifically, in 1994 McKinsey &
Company generated $1.5 billion
in 1994, $2.1 billion in 1996,
$3.4 billion in 2000, $3.2 billion
in 2001, $3.0 billion in 2002,
$3.5 billion in 2003, $3.8 billion
in 2005, $4.4 billion in 2007.
No n-Partne rs
81%
Source: 2/ 8/07 Mc Kinsey & Company Web S ti e; 12/ 31/ 02 Wall St reet Journal; Tiburon Research & Analysis
282
McKinsey & Company consultants utilization rate has dipped below 40% at times.
McKinsey & Company is a coveted employer, including having been named as the most
desirable firm to work for by MBA candidates for seven years straight.
McKinsey & Company firm reputation was down in 2002, but still at 8.7. The decrease in
the firm reputation was from a rating of 9.3 in 2001.
McKinsey & Company has four core principles, including work with our clients not for
them, bring the best of the firm to each client, take a top management perspective, and
establish a solid fact base.
Businesses
The third section of McKinsey & Companys profile will outline its core businesses.
McKinsey & Company is organized into six functional practices, including strategy,
corporate finance, marketing & sales, and business technology.
McKinsey & Company generates half of its revenues from strategy consulting.
Specifically, after strategy consulting the firms information technology consulting
business generates 30% of the firms revenues, while organizational management
consulting comprises the remaining 20% generated in revenues.
McKinsey & Company derives almost 30% of its consulting revenues from its operations
management practice. Specifically, McKinsey & Companys operations management
consulting practice accounts for 28% of the revenues derived by the firm, with its various
other consulting practice business accounting for the remaining 72% of the firms
revenues.
Strategy
McKinsey & Companys first functional practice is strategy.
McKinsey & Companys strategy practice provides several services, including corporate
strategy, business unit & product line strategy, strategic planning, competitive dynamics,
and game theory.
McKinsey & Company employs the McKinsey Method in its approach to strategy
consulting. The McKinsey Method is a hypothesis-driven approach which reaches
conclusions and solutions based on a dispassionate analysis of the facts. Participation
in Socratic debate among team members focus the discussion on issues that matter.
McKinsey team takes the business apart piece by piece and puts it back together again.
The method stresses the importance of bringing rigorous profit analysis to a business
long shrouded in secrecy. This approach attempts to tell clients which products make
money and why.
McKinsey & Company has some critics who believe that some solutions derived through
McKinseys strategy methods lack insight and creativity. Among the claims that critics
make are that results can be too theoretical, making them difficult or too expensive to
implement. Moreover, some contend that the methods can lead to too narrow a focus,
which is too abstract and numbers-oriented, and that this approach can miss the human
283
and
284
customer-value
focused
technology-
Overmanage
Phase and overmanage the transition
Operations
McKinsey & Companys fourth functional practice is operations.
McKinsey & Companys operations practice provides several services, including
manufacturing, purchasing & supply chain management, supply chain management, and
product development.
McKinsey & Company generates over $800 million revenues from its operations
management practice. Specifically, McKinsey & Company generated $840 million in
revenues in 2002.
Business Technology
McKinsey & Companys fifth functional practice is business technology.
McKinsey & Companys business technology practice provides several services,
including information technology architecture, information technology cost, information
governance technology & organization, and information technology infrastructure.
Additional business technology practice services offered by McKinsey are information
technology in operations (ERP & SCM), information technology in sales & marketing,
information technology post merger management, and information technology
outsourcing/off shoring & business process outsourcing.
McKinsey & Companys @McKinsey is its e-business division which takes both fee-forservices & equity investments in return for providing hands-on implementation and
business-building services. This division helps push funded projects to fruition and
assist e-businesses in their second stage of funding. They also work with Fortune 500
companies to launch and integrate e-businesses. Offices at McKinsey & Companys
@McKinsey will have 500 employees total in Silicon Valley, New York, London, Madrid,
and Germany. This approach is in contrast to traditional Internet incubators, who only
offer their services in exchange for startup equity.
Organizational Practice Services
McKinsey & Companys final practice is organizational practice services.
McKinsey & Companys organization practice provides several services, including
corporate governance, motivation, performance, & talent, institutional system design,
and corporate transformation.
McKinsey & Company serves many industries, including automotive & assembly,
banking & securities, chemicals, consumer packaged goods, electrical power & natural
gas, and high tech strategy. McKinsey organizational practice serves additional
industries in the areas of insurance, media & entertainment, metals & mining, nonprofit,
payer & provider, petroleum, pharmaceuticals, private equity, pulp & paper & forest
products, retail, telecommunications, as well as travel & logistics.
McKinsey & Companys work in China is done for Chinese companies over threequarters of the time. Specifically, McKinsey & Company assists the Chinese parent
285
companys project 77% of the time, with the remaining assistance with projects being
provided for 23% of the Chinese parent clients subsidiaries.
McKinsey & Company works with smaller companies in China, due to the lack of large
sophisticated companies.
McKinsey & Companys engagements in China are repeat business half of the time.
McKinsey & Company is organized into 80-100 cells. The leaders of different cells are
appointed by the Managing Director. Cells are defined by geography, industry, and
function, with 10 to 20 partners in each cell.
McKinsey & Companys client list is a mix of high flyer and struggling companies. Those
companies include:
AMP Society
Enron
Global Crossing
K-Mart
Merrill Lynch
Money Management Institute
Prudential Financial
Shanghais Nanjing Road
United Airlines
United Nations
AIDS Accelerating Access Initiative
United States of America
Securities & Exchange Commission
Federal Deposit Insurance Corporation
Wachovia Corporation
Wells Fargo Corporation
McKinsey & Company manages many entrepreneurial activities, including its Global
Institute, Entrepreneurs in Residence program, McKinsey Business Awards, and
McKinsey Quarterly.
The firm also manages entrepreneurial activities with its
benchmarking and efficiency survey.
McKinsey & Companys McKinsey Global Institute is an independent economics think
tank within McKinsey. It was created to undertake original research and develop
substantive points of view on critical economic issues facing businesses and
governments around the world. The goal of its investigations is to improve business
performance and competitiveness.
McKinsey & Company has developed an Entrepreneurs in Residence program. This
program was created to leverage the first-hand experiences of industry executives and
entrepreneurs. Interestingly, most participants are hired as part-time consultants which
allows participants to continue working on their own businesses. In turn, entrepreneurs
real-life experiences help to create more thorough and balanced client
recommendations. However, potential conflicts of interest exist due to entrepreneurs
dual roles.
286
McKinsey & Company gives annual awards called the McKinsey Business Award. The
awards are presented to recognize the two best articles published each year in the
Harvard Business Review.
McKinsey & Company publishes the McKinsey Quarterly. This publication features
McKinsey & Companys latest thinking on business strategy, technology, finance, &
management. Consultants and alumni write the majority of the articles published.
McKinsey & Company created McKinsey Quarterly.com. McKinsey Quarterly.com is an
online repository of the McKinsey Quarterly articles since 1993. The firms repository
contains the full text and exhibits for articles. Content is organized by subject and
industry as well as chronologically.
McKinsey & Company provides benchmarking for global business confidence in the
current economic condition. Readers of the McKinsey Quarterly are invited to take an
online survey, and these participants receive the results before publication.
McKinsey & Company publishes a semi-annual e-performance survey. This surveys
more than 200 Internet businesses around the world with combined revenues of roughly
$2 billion. The survey founded in 2001 that 20 that 20% of companies covered were
profitable and a significant number of others are headed in that direction. Interestingly,
the survey received virtually no press because it did not fit prevailing conventional
wisdom that the Internet sector was dead.
Organization & Ownership
The final section of McKinsey & Companys profile will address is organizational
structure & ownership.
McKinsey & Companys web site is very in-depth with plenty of information regarding the
firms history. The web site main areas contain information regarding the firm, its client
services, and the ideas generated by the firm. The web site has various language
versions, as well as an impressive list of client projects, an extensive Careers at
McKinsey page, and links to the McKinsey Quarterly & the McKinsey Global Institute.
McKinsey & Company also offers an alumni web site.
McKinsey & Company is led by Managing Director Ian Davis, and a number of prominent
partners including Lowell Bryan and Bill Meehan. Ian Davis became Managing Director
in 2003 after a close election with Michael Patsalos-Fox, head of the New York office.
He joined the firm in 1979 and was the head of the UK office since 1996. Rajat Gupta
was the former Managing Director. Mr. Gupta served in that capacity from 1994 to
2003, and he set the precedent of a three-term limit.
McKinsey & Companys prominent partners include Lowell Bryan, Bill Meehan, Kenichi
Ohmae, Herb Henzler, and Adair Turner. Bill Meehan is the chairman of McKinsey &
Companies west coast offices.
McKinsey & Company has Bill Bradley as a Chief Outside Adviser.
McKinsey & Companys shareholders council is its senior governance body.
287
McKinsey & Company partners are frequently tapped to lead the companies they were
engaged to help. Specifically, details include:
George Feiger
John Cecil
Steven Green
Lukas Mhlemann
Chairman, Swiss Re
Phil Purcell
CEO, Morgan Stanley
Roger Ferguson
Vice Chairman, Federal Reserve
Operated as Federal Reserve Chairman Alan Greenspans right hand man
Primary US financial-policy maker while Alan Greenspan was in Switzerland
during the terrorist attacks of September 11
Martin Baily
Chairman, White House Council of Economic Advisors
Confirmed in 1999 and potential successor to then-current chairperson Janet
Yellen
Former economics professor at Yale, MIT, and University of Maryland
Played a major role in McKinsey research on differences in productivity
between different countries
Martin Felton
Wrote the Board Governance Regulations for South Korea
Pioneered McKinsey & Companys work on the value of good board
governance
Worked with various organizations to help develop director training methods
and install new board governance programs
Researched good governance practices that helped shareholder value
enhancements
Ted Hall
Serves on Board of Directors for Dolby Laboratories
Former Managing Partner at San Francisco office
Helped move McKinsey & Companys operations into China
Worked with chief executives and board of directors of Fortune 50-size
companies around the world in the areas of strategy and organization
288
McKinsey & Company is always hiring, but requirements are high. The firm requires
exceptional intellect and superior analytical skills, an advanced degree from a top
school, an impressive record of career achievement, as well as excellent written and
verbal communication skills. In contrast, while other consulting firms were hiring old
men who dispensed wisdom, McKinsey decided to hire young people and train them to
be problem solvers. The firm was the first consulting firm to compete with Wall Street for
Harvard MBAs. McKinsey has an up-or-out mentality, in that employees who fail to
make partner in five years are asked to move on.
McKinsey seeks the cream of the crop; the best possible candidate for the firm. The
firms traditional recruits come from top business and law schools, and top economic and
finance programs. McKinseys non traditional recruits consist of doctors, scientists, and
politicians.
McKinsey & Companys traditional recruits come from top schools and it has nontraditional recruits including doctors, scientists, and politicians.
McKinsey & Companys successful recruits have qualities including, analytical ability,
problem solving, and business judgment. Between these required capabilities of
successful recruits, analytical ability ranks as the first and foremost quality. Recruits
should also have the ability to break apart problems into their components. Moreover, a
successful McKinsey recruit should have business judgment in line with understanding
the implications of solutions. To compliment these qualities of the mind, a successful
McKinsey recruit should have a good personality that fits with the interviewee as well as
the firm.
McKinsey & Companys successful recruits have standard qualities including above
average intelligence, a record of academic achievement, and demonstrated
achievement in prior jobs.
McKinsey & Company commits serious resources in its recruiting process, including
courting MBAs, committing to full time recruitment, engaging in large scale efforts, and
engaging in small scale efforts. Specifically, details include:
Courting MBAs
Up to five day stays at the best hotel in town
Taking MBAs to fancy restaurants
Recruiting is a Full Time Commitment
Given McKinseys rate per hour, this is a significant opportunity cost
Engaging in Large Scale Efforts
Every top business school has its own team of McKinsey consultants
assigned to it with its own charge code
Engaging in Small Scale Efforts
Court individuals at restaurants like Le Cirque
McKinsey & Company utilizes the case method of interviewing. The interview requires
the candidate to break the problem down into its component pieces, ask relevant
289
Consultants at
McKinsey & Company employees are very satisfied with their training & development
opportunities. Specifically, 96% of McKinsey & Company employees reported that they
are very satisfied with their training and development opportunities, while the remaining
4% reported their view as neutral regarding training and development opportunities.
McKinsey & Company employees believe their work makes a positive impact on clients
most of the time. Specifically, 48% of McKinsey & Company employees believe their
work makes a positive impact on clients most of the time. Interestingly, 44% of
McKinsey employees think that their work always makes a positive impact on their
clients, while the remaining 8% report a belief that their work makes a positive impact on
clients sometimes.
McKinsey & Company employees find their mentors very valuable. Specifically, 98% of
McKinsey & Company employees report that their mentors are very valuable, while they
remaining 2% reported neutrality regarding their satisfaction with their mentors.
McKinsey & Company changed its firm policy in an effort to retain talent. Employees
can now be named partner as quickly as three years after joining the firm, and
associates now have more say in choosing assignments. The firm also created the new
post of associate principal, which allows consultants on their way up to share in some of
responsibilities and riches of full partners. Finally, associates pay was increased at least
15%.
McKinsey & Companys changes to retain employees may not be enough to retain the
firms talent. Despite the changes in firm policy, such as the increase in associates pay,
consultants in East Coast and West Coast cities do not believe pay increases are
enough due to sky-rocketing cost of living. Moreover, the lack of equity compensation is
hindering McKinseys partner retention efforts.
McKinsey & Companys informal and formal alumni activities expand its reach into the
world at large. The firms former partners can be found in the senior management of
countless Fortune 500 companies and governments. These former partners often hire
their former McKinsey colleagues on consulting projects. Interestingly, due to their
network of former partners, McKinsey never needs to advertise or engage in marketing
in the conventional sense. The firms influence in the financial services industry is close
to 100%.
McKinsey & Company maintains an employee alumni database which has long been
viewed as one of the keys to its power.
McKinsey & Company is privately owned.
290
Michael Porter
Michael Porter is led by CEO Michael Porter, a Harvard Business School professor who
specializes in competition strategy treatise.
History
The first section of Michael Porters profile will explain the key historical events in the
firms development.
Michael Porter was founded and has evolved through three phases, including its early
phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Michael Porter was its early phase.
Middle Phase
The second phase in the development of Michael Porter was its middle phase.
Recent Phase
The third phase in the development of Michael Porter was its recent phase.
Statistics
The second section of Michael Porters profile will review some key statistics regarding
the firm.
Businesses
The third section of Michael Porters profile will outline its core businesses.
Michael Porter has a number of businesses.
Organization & Ownership
The final section of Michael Porters profile will address is organizational structure &
ownership.
Michael Porter has a web site.
Michael Porter is led by its CEO Michael Porter
Michael Porter is privately owned.
Milliman Global
Milliman Global was founded in 1947 and is based in Seattle, WA. The firm has 2,100
employees and generates $522 million in revenues.
Its web site is
www.MillimanEurope.com.
History
The first section of Milliman Globals profile outlines the key historical events in the firms
development.
Milliman Global was founded in 1947 and has evolved through three phases, including
its early, middle, & recent phases
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292
The first phase in the development of Mitchell Advisers was its early phase.
Mitchell Advisers was founded in 2003 to provide investment banking services to asset
managers.
Mitchell Advisers joined Tiburon Strategic Advisors Consulting Fellows Program in
2003.
Middle Phase
The second phase in the development of Mitchell Advisers was its middle phase.
Recent Phase
The third phase in the development of Mitchell Advisers was its recent phase.
Statistics
The second section of Mitchell Advisers profile will review some key statistics regarding
the firm.
Businesses
The third section of Mitchell Advisers profile will outline its core businesses.
Mitchell Advisers has a number of businesses, including its strategic & financial adviser
business.
Strategic & Financial Adviser
Mitchell Advisers first business is its strategic & financial adviser business.
Mitchell Advisers Strategic & Financial Adviser Business has four services, including its
Organizational Growth, Change, Continuity Planning, and Mergers & Acquisitions
Services.
Mitchell Advisers Strategic & Financial Adviser Business first service is its
Organizational Growth Service.
Mitchell Advisers Strategic & Financial Adviser Business second service is its Change
Service.
Mitchell Advisers Strategic & Financial Adviser Business third service is its Continuity
Planning Service.
Mitchell Advisers Strategic & Financial Adviser Business fourth service is its Mergers &
Acquisitions Service.
Organization & Ownership
The final section of Mitchell Advisers profile will address is organizational structure &
ownership.
Mitchell Advisers does not have a web site.
Mitchell Advisers is led by its principal Keith Mitchell.
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Morgan Stanley has a very client centric and thorough web site, including sections titled
our views, individual investors, institutional services, global citizen, and about Morgan
Stanley.
Morgan Stanley is led by the formerly jilted CEO John Mack, who took back his post
after the less popular Phil Purcell was removed in 2005. Other key executives include its
President Zoe Cruz, Head of Investment Banking Walid Chammah, Head of Worldwide
Fixed Income Neal Shear, President of the Individual Investor Group James Gorman,
President of Investment Management Mitch Merin, Chief Financial Officer David Sidwell,
and Chief Counsel Gary Lynch.
Morgan Stanley recently appointed Walid Chammah to lead the firms investment
banking division.
Morgan Stanley is publicly traded on the New York Stock Exchange under the ticker
symbol MS.
Morgan Stanley has a market capitalization of over $50 billion, possibly making it the largest
brokerage firm by this measure.
Monitor Group
Monitor Group was founded in 1983 by Michael Porter, Mark Fuller, & Joseph Fuller in
Cambridge, MA. They have 30 offices with 1,500 employees. Their web site is
www.monitor.com
History
The first section of Monitor Groups profile will explain the key historical events in the
firms development.
Monitor Group was founded in 1983 and has evolved through three phases, including its
early phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Monitor Group was its early phase.
Monitor Group was founded in 1983 by Michael Porter, Mark Fuller, & Joseph Fuller in
Cambridge, MA.
Middle Phase
The second phase in the development of Monitor Group was its middle phase.
Recent Phase
The third phase in the development of Monitor Group was its recent phase.
Statistics
The second section of Monitor Groups profile will review some key statistics regarding
the firm.
Monitor Group has 30 offices.
Monitor Group has 1,500 employees.
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Businesses
The third section of Monitor Groups profile will outline its core businesses.
Monitor Group has a number of businesses, including Grail Research.
Grail Research
Monitor Groups last business is Grail Research.
Organization & Ownership
The final section of Monitor Groups profile will address is organizational structure &
ownership.
Monitor Group has a web site.
Monitor Group is led by its management.
Monitor Group is privately owned.
Monticello Associates
Monticello Associates is a consultant for endowments, foundations, and high net worth
individuals. It is run by a president and four other consultants. It is led by Grady Durham
and has about ten total employees.
History
The first section of Monticello Associates profile will explain the key historical events in
the firms development.
Monticello Associates was founded and has evolved through three phases, including its
early, middle, & recent phases.
Businesses
The second section of Monticello Associates profile will outline its core businesses.
Monticello Associates has at least one business, including its consulting business.
Consulting
Monticello Associates first business is its consultants businesses.
Organization & Ownership
The final section of Monticello Associates profile outlines is organizational structure &
ownership.
Monticello Associates does not have a web site.
Monticello Associates is led by Grady Durham.
Monticello Associates is owned by its shareholders.
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Moodys
Moodys is based in New York, NY, and has 2,500 employees overall. It generates $1.4
billion in revenues, and $425 million in net income. Its famous credit rating system was
developed in 1909 by John Moody. The firm is public, trading under the NYSE ticker
MCO, and led by CEO Ray McDaniel. The companys web site is www.moodys.com.
History
The first section of Moodys profile outlines the key historical events in the firms
development.
Statistics
The second section of Moodys profile outlines some key statistics regarding the firm.
Businesses
The third section of Moodys profile outlines its core businesses.
KMV
Moodys KMV is a subsidiary based in San Francisco, CA. It has 2,000 commercial &
investment bank, insurance company, and money management clients, and generates
$128 million in revenues. The firm develops credit analysis tools, and is led by President
Andrew Huddart. The company web site is www.moodyskmv.com.
Moodys KMV generates over $100 million in revenues.
Moodys KMV generates all its revenues from financial services clients.
Organization & Ownership
The final section of Moodys profile outlines its organization & ownership.
Morningstar
Morningstar was founded in 1984, and is based in Chicago, Illinois. It has operations in
20 countries, has 1,620 employees, generates $315 million revenues, and earns $52
million in net income. The company is led by founder & CEO Joe Mansueto and trades
under the NASDAQ ticker MORN. The companys web sites are www.morningstar.com,
morningstaradvisor.com, www.mp.morningstar.com, & www.clearfuture.com.
History
The first section of Morningstars profile will explain the key historical events in the firms
development.
Morningstar was founded in 1984 and has evolved through three phases, including its
print, internet, & business diversification phases.
Businesses
The third section of Morningstars profile outlines its core businesses.
Morningstar is structured around its three key markets, including individual investors,
financial advisors, & institutional investors.
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Ibbotson Associates
Morningstars Financial Advisors service includes Ibbotson Associates.
Morningstars Ibbotson Associates has 150 employees.
Morningstars Ibbotson Associates has 700 institutional clients.
Morningstars Ibbotson Associates has 70,000 financial advisor clients.
Morningstars Ibbotson Associates has $3.5 billion assets under management in 401ks
and other defined contribution plans.
Morningstars Ibbotson Associates generates $37 million revenues.
Morningstars Ibbotson Associates offers two core products, including its portfolio
strategist and EnCorr attribution.
Morningstars Ibbotson Associates first product is its portfolio strategist, which is an
asset allocation investment planning software.
Morningstars Ibbotson Associates portfolio strategist has been a leading financial
planning software tools for years.
Morningstars Ibbotson Associates second product is its EnCorr Attribution, which costs
users over $5,000 annually.
Morningstars Ibbotson Associates EnCorr Attribution determines the mix of mutual
funds or separately managed accounts that most closely replicates a given benchmark.
Morningstars Ibbotson Associates EnCorr Attribution explains whether the desired
asset allocation can be implemented with a current set of separate account managers.
Morningstars Ibbotson Associates EnCorr Attribution incorporates factors like the
minimum investment needed or the maximum to allocate to any one separate account or
fund.
Morningstars Ibbotson Associates EnCorr Attribution minimizes tracking error using
proprietary Ibbotson research.
Morningstars Ibbotson offers investment consulting and data management software to
investment professionals for asset allocation, communications, and consulting services.
Organization & Ownership
The final section of Morningstars profile will address is organizational structure &
ownership.
Morningstar is led by CEO Joe Mansueto.
Morningstars Ibbotson Associates is led by its president Mike Henkel.
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Morningstars board of directors includes Joe Mansueto, Don Philips, Cheryl Francis,
Steve Kaplan, & Jack Noonan.
Morningstar is a public company traded as MORN on the NASDAQ.
Morningstar earns $1.54 per share.
Morningstars stock price is $66.07.
Morningstar has a market capitalization of $2.7 billion.
Moss Adams
Moss Adams was founded in 1913 and is based in Seattle, WA. It is the 14th largest CPA
firm in the country. The firm has 23 offices in WA, OR, and CA. The firm has 1,266
employees, 825 professionals, and 185 partners. Moss Adams has $185 in million
revenues. Moss Adams services include: assurance, tax & audit, consulting services,
and international services. Rick Anderson is CEO of Moss Adams and Chris Schmidt is
Chief Operating Officer. The firms web site is www.mossadams.com.
History
The first section of Moss Adams profile will explain the key historical events in the firms
development.
Moss Adams was founded in 1913 and has evolved through three phases, including its
early, middle, and recent phases.
Businesses
The second section of Moss Adams profile will outline its core businesses.
Moss Adams has at least two business, including ITS Moss Adams core business and
Financial Security Group.
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300
Nancy Koehn was founded and has evolved through three phases, including its early
phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Nancy Koehn was its early phase.
Middle Phase
The second phase in the development of Nancy Koehn was its middle phase.
Recent Phase
The third phase in the development of Nancy Koehn was its recent phase.
Statistics
The second section of Nancy Koehns profile will review some key statistics regarding
the firm.
Businesses
The third section of Nancy Koehns profile will outline its core businesses.
Nancy Koehn has a number of businesses.
Organization & Ownership
The final section of Nancy Koehn profile will address is organizational structure &
ownership.
Nancy Koehn has a web site.
Nancy Koehn is led by its CEO Nancy Koehn
Nancy Koehn is privately owned.
Navigant Consulting
Navigant Consulting was founded
History
The first section of Navigant Consultings profile will explain the key historical events in
the firms development.
Navigant Consulting was founded and has evolved through three phases, including its
early phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Navigants development was its early phase.
Middle Phase
The second phase in the development of Navigants development was its middle phase.
Recent Phase
The third phase in the development of Navigants development was its recent phase.
301
Statistics
The second section of Navigants profile will review some key statistics regarding the
firm.
Businesses
The third section of Navigants profile will outline its core businesses.
Navigant Consulting has a number of businesses.
Organization & Ownership
The final section of Navigant Consultings profile will address is organizational structure
& ownership.
Navigant Consulting has a web site.
Navigant Consulting is led by its management.
Navigant Consulting is privately owned.
NFO Worldwide
NFO Worldwide was founded
History
The first section of NFO Worldwides profile will explain the key historical events in the
firms development.
NFO Worldwide was founded and has evolved through three phases, including its early
phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Navigants development was its early phase.
Middle Phase
The second phase in the development of Navigants development was its middle phase.
Recent Phase
The third phase in the development of Navigants development was its recent phase.
Statistics
The second section of Navigants profile will review some key statistics regarding the
firm.
Businesses
The third section of Navigants profile will outline its core businesses.
NFO Worldwide has a number of businesses.
Spectrem Group
Spectrem Group is based in Chicago, Il. It provides strategic consulting, information
products, and M&A advisory services. It specializes in the research & analysis of
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affluent, ultra-high net worth, and retirement services markets. The firms President is
George Walper. Its web site is www.spectrem.com.
History
The first section of Spectrem Group profile will explain the key historical events in the
firms development.
Spectrem Group was founded and has evolved through three phases, including its early
phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Spectrem Group was its early phase.
Middle Phase
The second phase in the development of Spectrem Group was its middle phase.
Recent Phase
The third phase in the development of Spectrem Group was its recent phase.
Statistics
The second section of Spectrem Group profile will review some key statistics regarding
the firm.
Businesses
The third section of Spectrem Group profile will outline its core businesses.
Spectrem Groups Research is Frequently Cited in Leading Industry Publications,
including:
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Strategic Consulting
Affluent market
Retirement services
Securities processing
Business operations & organizational design
Strategic & custom research
Seminars & workshops
Information Products
Research reports
Data charts
M&A Advisory Services
Buyer services
Seller services
Spectrem Group provides consulting services in six areas, including seminars &
workshops. Specifically, details include:
Affluent Market
Strategy development
Market entry
Segmentation
Product design & distribution
Marketing
Competitive analysis
Retirement Services
Develops strategies to be more successful in the 401K business
Brokerage firms
Insurance companies
Banks
Mutual fund companies
Investment managers
Securities Processing
Corporate trust
Stock transfer
Custody
Securities lending
Business Operations & Organizational Design
Assists in the Implementation of industry best practices
Strategic & Custom Research
Survey research
Focus groups
Customer database analysis & segmentation
Market potential & geographic analysis
Affluent markets
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Retirement services
Investment products
Trust services
Operations & technology
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Seller Services
Assists in developing a divesture plan
Prepare the business for sale
Develop evaluation materials to attract the best available buyers
Supports management once a buyer is selected
Due diligence
Deal negotiation
Transition of the business
Organization & Ownership
The final section of NFO Worldwides profile will address is organizational structure &
ownership.
Spectrem Groups web site provides a comprehensive overview of the firms product &
service offerings. Site selections on the web site include, About Us, Consulting
Services, Mergers & Acquisitions Services, Research Reports, and Spectrum in the
News.
Spectrem Group is led by its President George Walper; Catherine McBreen, Ann
Mahrdt, Gary Lineberry, and Gerald OConnor are other key executives who are
respectively Managing Director and directors. Spectrem Group was founded and led by
Amy Effett until she joined E*Trade in 1994. George Walper joined Spectrem Group in
1994; he was previously SVP at Harris Trust & Savings Bank; Catherine McBreen was
previously a senior attorney and Vice President at Harris Trust & Savings Bank; Ann
Mahrdt was a strategic retirement consultant at William Mercer prior to joining Spectrem;
Gary Lineberry as previously a senior Vice President at AXA Financial; Gerald OConnor
was previously director of marketing & strategic planning at CIGNA.
Spectrem Group is privately owned.
Nick Murray
Nick Murray is led by its CEO Nick Murray.
History
The first section of Nick Murrays profile will explain the key historical events in the firms
development.
Nick Murray was founded and has evolved through three phases, including its early
phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Nick Murray was its early phase.
Middle Phase
The second phase in the development of Nick Murray was its middle phase.
Recent Phase
The third phase in the development of Nick Murray was its recent phase.
306
Statistics
The second section of Nick Murrays profile will review some key statistics regarding the
firm.
Businesses
The third section of Nick Murrays profile will outline its core businesses.
Nick Murray has a number of businesses.
Organization & Ownership
The final section of Nick Murrays profile will address is organizational structure &
ownership.
Nick Murray has a web site.
Nick Murray is led by its CEO Nick Murray.
Nick Murray is privately owned.
Nielsen
Nielsen was founded.
History
The first section of Nielsens profile will explain the key historical events in the firms
development.
Nielsen was founded and has evolved through three phases, including its early phase,
middle phase, and recent phases.
Early Phase
The first phase in the development of Nielsen was its early phase.
Middle Phase
The second phase in the development of Nielsen was its middle phase.
Recent Phase
The third phase in the development of Nielsen was its recent phase.
Statistics
The second section of Nielsens profile will review some key statistics regarding the firm.
Businesses
The third section of Nielsens profile will outline its core businesses.
Nielsen has a number of businesses.
Organization & Ownership
The final section of Nielsens profile will address is organizational structure & ownership.
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www.northwesternmutual.com,
www.nmfn.com,
www.pipplc.com, www.toddorg.com, & www.russell.com.
www.letyourworriesgo.com,
History
The first section of Northwestern Mutuals profile will explain the key historical events in
the firms development.
Northwestern Mutual was founded in 1857 and has evolved through three phases,
including its early years phase, growth years phase, and maturity phase.
Businesses
The second section of Northwestern Mutuals profile will outline its core businesses.
Northwestern Mutual has four primary businesses, including Northwestern Mutual Life
Insurance Company, Northwestern Mutual Long-Term Care Insurance Company,
Northwestern Mutual Trust Company, and Northwestern Mutual Investment Services,
along with its Northwestern Mutual Financial Network.
Northwestern Mutuals premium revenues nearly all come from the firms life insurance
business. More specifically, 90% of Northwestern Mutual premium revenues come from
life insurance, 5% come from disability & lone-term care, and 5% come from annuities.
Russell Investment Group
Northwestern Mutual Investment Services also includes its Russell Investment Group
subsidiary. Russell Investment Group was founded by Frank Russell as Frank Russell
Company in 1936. The firm is based in Tacoma, WA. It operates in 47 countries, has
20 offices, 2,200 employees, and $925 million revenues. The firm is led by its CEO
Andrew Doman and was acquired by Northwester Mutual in 1999 for $900 million
upfront and additional performance based amounts. The firm was acquired so that
Northwestern Mutual could move away from a pure insurance focus and they planned to
incorporate Russell funds into their variable annuity and variable life products. This
alliance gave Russell fund brand name recognition.
Northwestern Mutuals Russell Investment Group serves clients in 47 countries, up from
35 in 2003.
Northwestern Mutuals Russell Investment Group has 20 offices.
Northwestern Mutuals Russell Investment Group has offices in Auckland, London, New
York, Singapore, Sydney, Tacoma, Tokyo, & Toronto.
Northwestern Mutuals Russell Investment Group has 2,200 employees, up 100% since
1996.
Northwestern Mutuals Russell Investment Groups employees are located in Tacoma,
WA. More specifically, 60% of Russell Investment Group employees are located in
Tacoma, WA while 60% of employees are located in other locations.
Northwestern Mutuals Russell Investment Group generates $925 million revenues, up
85% since 2002.
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Asahi Newspaper
AT&T
BASF
BHP
Boeing
Campbell Soup
Caterpillar
Civil Aviation Authority
Electricite do France
General Motors
Government Employees Superannuation Fund
Hitachi
Holden (General Motors)
Japan Airlines (JAL)
JC Penny
Kobe Steel
Mitsubishi
Molson
NEC Corporation
Nestle
Ontario Pension Board
Sears, Roebuck, & Company
Sears Canada
Shell Oil
Sunsuper
Takeda Chemical
Toshiba
Toyota Motor
Transport Accident Commission
Unisys
United Airlines
University of Western Ontario
Woolworths Group
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Northwestern Mutuals Russell Investment Group has $2.0 trillion in assets under
advisement, up slightly since 2003 but off its peak in 2004.
Northwestern Mutuals Russell Investment Groups investment staff monitors 3,000
investment managers, up almost 50% since 2004.
Northwestern Mutuals Russell Investment Group considers hiring only 9% of its
monitored investment managers, labeling these considerations with a hire ranking. More
specifically, 91% of Russell Investment Group monitored investment managers are not
ranked as worth hiring.
Northwestern Mutuals Russell Investment Group hires only 2% of its monitored
investment managers. More specifically, 98% of Russell Investment Group monitored
investment managers are not hired.
Northwestern Mutuals Russell Investment Group utilizes Alliance Bernstein, Marsico
Capital Management, & Turner Investment Partners. Specifically, details include:
Northwestern Mutuals Russell Investment Group offers three analytical tools, including
its performance attribution, style classification, & quarterly reporting. Specifically, details
include:
Performance attribution
Uses 200 indexes to evaluate investment strategies, asset allocation and
currency effects
Style classification
Analyzes portfolio style
Quarterly reporting
On US and international equity portfolios
Northwestern Mutuals Russell Investment Groups second business is investment
management & research.
311
Northwestern Mutuals Russell Investment Group has $151 billion assets under
management, down 33% since 2007, but up over 300% since 1998.
Northwestern Mutuals Russell Investment Group spreads risk across asset classes,
styles, and managers to maximize diversification for clients. Specifically, details include:
Multi asset classes
Allocation across stocks, bonds, etc
Multi style
Allocation across growth, value, small cap, large cap, etc
Multi manager
Constantly monitors managers to use a handful of the top consistently
Northwestern Mutuals Russell Investment Group has a 20% share of the manager-ofmanagers market, down from 26% in 2002.
Northwestern Mutuals Russell Investment Groups investment management & research
business can be organized by products.
Northwestern Mutuals Russell Investment Group delivers portfolios through single net
asset value life point mutual funds, target risk mutual fund strategies whereby Russell
provides the asset allocation recommendation and implements through its mutual funds,
& its unified managed account product.
Northwestern Mutuals Russell Investment Groups assets under management are
primarily managed in non-mutual fund investment products. More specifically, 19% of
Russell Investment Group assets under management are found in mutual funds while
81% of assets under management are in other investment products.
Northwestern Mutuals Russell Investment Groups investment management &
researchs first product is mutual funds.
Northwestern Mutuals Russell Investment Group offers 340 mutual funds, up nearly
90% since 2004.
Northwestern Mutuals Russell Investment Group offers seven types of mutual funds,
including its US equity funds, international & global equity funds, fixed income funds, taxmanaged equity funds, specialty funds, money market funds, & life points funds.
Specifically, details include:
Equity funds
Russell US Core Equity
Russell US Quantitative Equity
Russell US Growth
Russell US Value
Russell US Small & Mid Cap
International & global equity funds
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313
Northwestern Mutuals Russell Investment Group has gathered $29.0 billion mutual fund
assets, up over 300% since 2001 but down 33% since 2007.
Northwestern Mutuals Russell Investment Groups mutual funds have net outflows of
$2.1 billion, down from net inflows of $4.1 billion in 2007.
Northwestern Mutuals Russell Investment Groups key offering is its life point mutual
funds which are targeted at client accounts less than $100,000.
Northwestern Mutuals Russell Investment Group has 21 life point mutual funds.
Northwestern Mutuals Russell Investment Groups life point funds is the key focus of its
US retirement business, now accounting for $7.5 billion in assets under management.
Northwestern Mutuals Russell Investment Group sells outcome oriented portfolios
currently surrounding three outcomes, including target risk, target date, & target
distribution. Specifically, details include:
Target risk
Balanced Strategy
Conservative Strategy
Equity Growth Strategy
Growth Strategy
Moderate Strategy
Target date
2010 Strategy
2015 Strategy
2020 Strategy
2025 Strategy
2030 Strategy
2035 Strategy
2040 Strategy
2045 Strategy
2050 Strategy
In Retirement
Target distribution
2017 Retirement Distribution A Shares
2017 Retirement Distribution S Shares
2017 Accelerated Distribution A Shares
2017 Accelerated Distribution S Shares
2027 Extended Distribution A Shares
2027 Extended Distribution S Shares
Northwestern Mutuals Russell Investment Group has been criticized for its life point
funds high fees.
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Northwestern Mutuals Russell Investment Group offers its mutual funds in classes A, C,
& I. Specifically, details include:
Class A
-Class C
-Class I
$100,000 minimum
Northwestern Mutuals Russell Investment Group has also packaged its manager-ofmanagers capabilities into a mutual fund wrap account program; and an MSP program.
Northwestern Mutuals Russell Investment Groups mutual fund wrap account program
RAMP is one of the leading independent sub-advised mutual fund wrap account
programs.
Northwestern Mutuals Russell Investment Group also offers a unified managed account
program called RMP.
Northwestern Mutuals Russell Investment Group charges 70 to 130 basis points on its
RMP program based on account size and brokerage model.
Northwestern Mutuals Russell Investment Groups portfolio review, asset allocation,
IPS, & proposal generator capabilities are all part of its portfolio link.
Northwestern Mutuals Russell Investment Group also has a sub-advisory agreement
with Van Kampen whereby Van Kampen distributes a series of target date mutual funds
and Russell Investment Group sub-advises half of the assets.
Northwestern Mutuals Russell Investment Groups investment management & research
business can be organized by channels.
Northwestern Mutuals Russell Investment Group gathers two-thirds of its assets under
management from independent broker/dealer reps. More specifically, 67% of Russell
Investment Group assets under management come from independent broker/dealers,
20% come from fee-based financial advisors, 8% come from defined contribution plans,
and 5% come from banks.
Northwestern Mutuals Russell Investment Group has just 20 financial advisor
institutional clients.
Northwestern Mutuals Russell Investment Groups financial advisor business serves a
wide variety of institutional clients, including American International Group, Cambridge
Investment Research, Envestnet Asset Management, & Fidelity Investments.
Specifically, details include:
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BNP Paribas
Fund Quest
Cambridge Investment Research
Commonwealth Financial Network
Davidson Companies
DA Davidson
Envestnet Asset Management
Fidelity Investments
Fidelity Institutional Wealth Services
National Financial Services Corporation
National Financial Partners
Northwestern Mutual
Principal Financial
Raymond James
Regions Finance
Morgan Keegan
Royal Bank of Canada
RBC Wealth
Stifel Nicolaus
TD Bank Financial Group
TD Ameritrade
The Bank of New York Mellon
Pershing
The Charles Schwab Corporation
Schwab International
Wells Fargo Corporation
AG Edwards & Sons
Wachovia Securities
Northwestern Mutuals Russell Investment Groups assets under management are only
in small part from Northwestern Mutual. More specifically, 18% of Russell Investment
Group assets under management are from Northwestern Mutual while 82% are not from
Northwestern Mutual.
Northwestern Mutuals Russell Investment Groups financial advisor business serves
financial advisor clients.
Northwestern Mutuals Russell Investment Groups financial advisor business serves
many financial advisors, including Anchor Capital Advisors & Maty Watkins. Specifically,
details include:
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Northwestern Mutuals Russell Investment Groups regional strategic selling events are
popular.
Northwestern Mutuals Russell Investment Group focuses on delivering value added
services, including capital market insights & practice management assistance.
Northwestern Mutuals Russell Investment Group has dedicated financial advisor web
site.
Northwestern Mutuals Russell Investment Group offers its web capability helping
advisors to aid financial advisors in re-profiling their clients in current troubling times,
recording solutions for retirement planning given recent market impacts, & assisting
financial advisors in reviewing their businesses given lower top line revenues.
Northwestern Mutuals Russell Investment Groups helping advisors offers three sections
for financial advisors, including sections regarding clients, financial advisors businesses,
& the current market.
Northwestern Mutuals Russell Investment Groups helping advisors first section deals
with the clients.
Northwestern Mutuals Russell Investment Groups helping advisors provides a long
article addressing have the markets ruined retirement and outlining different tests and
questions to address for clients.
Northwestern Mutuals Russell Investment Groups helping advisors groups current
retirees and those near retirement into four risk levels, giving potential actions for each
risk level. Specifically included are very high risk, high risk, moderate risk, and low risk.
Northwestern Mutuals Russell Investment Groups helping advisors offers a portfolio
analyzer tool which is really just an Excel worksheet that calculates the clients needed
retirement funds against its projected actual value through financial advisor data imports.
Northwestern Mutuals Russell Investment Groups helping advisors second section
deals with financial advisors businesses.
Northwestern Mutuals Russell Investment Groups helping advisors offers an article that
attempts to boost financial advisor morale and offers ideas on how to believe in
themselves.
Northwestern Mutuals Russell Investment Groups helping advisors offers and article to
help advisors assess the health of their businesses through three parts, including a hard
look at the numbers, strategies to address revenue shortfall, & fundamental changes for
the future. Specifically, details include:
A hard look at the numbers
Four Steps
- Estimating recurring revenue
- Estimating expenses
- Estimate owner/advisor income & desired profits
- Estimate revenue shortfall or surplus
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Russell 3000
Russell 2000
Russell 1000
Russell Top-200
Russell Mid-Cap
Russell 2500
Russell Small-Cap Completeness
Russell 3000 Growth
Russell 3000 Value
Russell 1000 Growth
Russell 1000 Value
Russell 2000 Growth
Russell 2000 Value
Russell Top-200 Growth
Russell Top-200 Value
Russell Mid-Cap Growth
Russell Mid-Cap Value
Russell 2500 Growth
Russell 2500 Value
Russell Small-Cap Completeness Growth
Russell Small-Cap Completeness Value
Russell/Mellon Analytical Services
Russell Top-50
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Northwestern Mutuals Russell Investment Group offers private equity through its
Pantheon subsidiary.
Northwestern Mutuals Russell Investment Groups Pantheon serves clients in 30
countries.
Northwestern Mutuals Russell Investment Groups Pantheon has five offices.
Northwestern Mutuals Russell Investment Groups Pantheon has offices in New York,
San Francisco, London, Hong Kong, & Brussels.
Northwestern Mutuals Russell Investment Groups Pantheon has 23 partners.
Northwestern Mutuals Russell Investment Groups Pantheon has 148 employees.
Northwestern Mutuals Russell Investment Groups Pantheon serves 260 institutional
clients.
Northwestern Mutuals Russell Investment Groups Pantheon has $23.0 billion assets
under management, up over 300% since 2003.
Northwestern Mutuals Russell Investment Groups Pantheons investments are
categorized into regional primary investment and global secondary investments.
Specifically, details include:
Regional primary investments
Includes private equity funds in the US, Europe, & Asia
Global secondary investments
Invests in more mature private equity funds via secondary market
Northwestern Mutuals Russell Investment Groups Pantheon manages Pantheon
International Participations (PIP) which is a publicly traded private equity fund-of-funds
listed on the Long stock exchange.
Northwestern Mutuals Russell Investment Groups Pantheons Pantheon International
Participations has $8.5 billion assets under management.
Northwestern Mutuals Russell Investment Groups Pantheons Pantheon International
Participations offers both ordinary and redeemable shares.
Northwestern Mutuals Russell Investment Group offers real estate investments.
Northwestern Mutuals Russell Investment Groups real estate team operates from five
offices.
Northwestern Mutuals Russell Investment Group has $8.0 billion assets under
management in real estate strategies.
Northwestern Mutuals Russell Investment Group offers multi-manager real estate funds.
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Northwestern Mutuals web site is organized into nine sections, including about us,
network services, insurance products, investment products advisory services, learning
center, about the network, customer center, and careers.
Northwestern Mutual is led by CEO Edward Zore and chief operating officer John
Bremer. Executive team also includes: John Schlifske, executive vice president,
investment products & services; Barbara Piehler, chief investment officer, Bill Beckley,
head, agency; and Gary Poliner, chief financial officer.
Northwestern Mutual remains a mutual company so that it returns profits to policy
owners instead of share holders.
Northwestern Mutual has $157 billion assets, up 150% in 1996.
Northwestern Mutual has earned the highest ratings in terms of financial strength from
all four of the major rating agencies, including Standard & Poors, Moodys, Fitch, & AM
Best. Specifically, details include:
Standard & Poors
AAA
"Northwestern Mutual's new individual life insurance sales have
generated growth rates considerably higher than the industry over the
past five years, while strong persistency has been maintained on existing
business. The company has consistently provided policy owners with
dividend rates that are among the industry's highest."
Moodys
Aaa
"Moody's believes that Northwestern Mutual's sophisticated and welltrained field force is a major company strength. The company's financial
representatives have developed strong relationships with their largely
upscale client base. Northwestern Mutual is heavily focused on providing
the products and services necessary for these representatives to maintain
these client relationships on a long-term basis."
Fitch
AAA
"Northwestern Mutual's (AAA) ratings are favorably influenced by its
excellent competitive position, providing individual life insurance products
in the US through an exclusive and highly productive career agency
distribution system. In addition, the company has strong balance sheet
fundamentals including a solid capital position and stable, long duration
liabilities."
AM Best
A++
"These ratings reflect Northwestern Mutual's leading position as a
provider of individual protection and wealth-management products, its
conservative operating strategy, high-quality investment portfolio, good
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Novantas has at least two businesses, including its consulting and information services
business.
Consulting
Novantas first business is its consulting business.
Information Services
Novantas second business is its information services business.
Novantas is used by TD Bank Financial Groups TD Ameritrade for customer research.
Organization & Ownership
The final section of Novantas profile will address is organizational structure &
ownership.
Novantas has a detailed web site that is divided into five sections, including What We
Do, Who We Are, What We Think, Careers, and Contact Us.
Novantas is led by its Managing Directors Dave Kaytes & Rick Spitler.
Novantas is owned by its managing directors.
Novell
Novell was founded in 1983 and is headquartered in Waltham, MA. The company has
5,000 employees, generates $1.2 billion revenues, has $736 million operating income,
and earns $373 million. Novell is led by its CEO Ron Hovsepian, and is listed publicly
(NASDAQ: NOVL). Its web site is www.novell.com.
History
The first section of Novells profile will explain the key historical events in the firms
development.
Novell was founded in 1993 and has evolved through three phases, including its early
phase, middle phase, and recent phases
Businesses
The second section of Novells profile will outline its core businesses.
Novell has many businesses, including Cambridge Technology Partners.
Cambridge Technology Partners
Novells First Business is its Cambridge Technology Partners, which was founded in
1991.
Organization & Ownership
The final section of Novells profile will explain its organization & ownership.
Novell has a web site.
Novell is led by its CEO Ron Hovsepian.
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Novell is publicly owned and traded on the New York Stock Exchange under the ticker
NOVL.
Optima Consulting
Optima Consulting is based in Connecticut and is led by CEO Ken Hoffman.
History
The first section of Optima Consultings profile will explain the key historical events in the
firms development.
Optima Consulting was founded and has evolved through three phases, including its
early phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Optima Consulting was its early phase.
Middle Phase
The second phase in the development of Optima Consulting was its middle phase.
Recent Phase
The third phase in the development of Optima Consulting was its recent phase.
Statistics
The second section of Optima Consulting profile will review some key statistics
regarding the firm.
Businesses
The third section of Optima Consultings profile will outline its core businesses.
Optima Consulting has a number of businesses.
Organization & Ownership
The final section of Optima Consultings profile will address is organizational structure &
ownership.
Optima Consulting has a web site.
Optima Consulting is led by CEO Ken Hoffman
Optima Consulting is privately owned.
Orbis Marketing
Orbis Marketing is based in Los Angeles, California. It is a mutual fund advertising and
media planning consulting firm. It provides marketing & advertising research, as well as
media planning & buying. It has four employees. The firms principal is Jim Atkinson,
and its web site is www.orbismarketing.com.
History
The first section of Orbis Marketings profile will explain the key historical events in the
firms development.
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Orbis Marketing was founded and has evolved through three phases, including its early
phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Orbis Marketing was its early phase.
Orbis Marketing was founded.
Middle Phase
The second phase in the development of Orbis Marketing was its middle phase.
Orbis Marketing joined Tiburon Strategic Advisors Fellows Program in 2001.
Recent Phase
The third phase in the development of Orbis Marketing was its recent phase.
Orbis Marketing recently moved into new offices in Los Angeles. Previously, it was
based in a home office.
Statistics
The second section of Orbis Marketings profile will review some key statistics regarding
the firm.
Businesses
The third section of Orbis Marketings profile will outline its core businesses.
Orbis Marketing has eleven marketing principles that drive its business activities and
marketing efforts, including Keeping Customers on the Path of Least Resistance.
Specifically, details include:
Keep Customers on the Path of Least Resistance
-Think Customer
Constantly having customers, including target customers, at the top of mind
eliminates many errors
Provide Customer with Special Treatment
Let customers know that they are special
Never treat prospective customers better than existing customers
Distinguish Self from the Competition
-Maintain Strong Customer Relationships
-Build Distribution Capability that You Can Access & Control
Marketing efforts have a dual objective
First is to raise assets
Second is to lay the foundation for raising assets at a later date
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Deliver Something
As an industry that delivers an intangible, it is critical that what is tangible be
meaningful
Effective Advertising when Targeting & Context Converge
-Maintain Control Over the Forces that Determine Your Success
Be in a position to control your own destiny
Offer More than a Prospectus
Offer of a free prospectus is an extremely weak call for action
Give investors a reason to act
Build Credibility Through Honesty
-Orbis Marketing Has a number of businesses, including its marketing & advertising
research and media planning & buying businesses. Orbis Marketings business lines are
meant to be self reinforcing; good marketing & advertising research will enhance media
planning & buying services; as more advertisements are placed, more results will be
generated to augment the research.
Marketing & Advertising Research
Orbis Marketings first business is its marketing & advertising research business which
provides an overview of fund industry metrics, a fund company survey, brand recognition
service, media metrics by publication, services in how to guide advertising, fund
valuation reports, fund surge causation and, and internet marketing. Orbis Marketings
business lines are meant to be self reinforcing; good marketing & advertising research
will enhance media planning & buying services; as more advertisements are placed,
more results will be generated to augment the research.
Orbis Marketings key differentiator is tracking advertising results.
Orbis Marketing currently offers a report on its advertising results; it may be wrapped
into the firms proposed research categories. The report is an abstract version of a
report that is produced for clients, and includes key advertising metrics and related data.
Orbis Marketings marketing & advertising research services latest study with the
University of Oregon has eight proposed research categories, including Overview of
Fund Industry Metrics, Fund Company Survey, and Brand Recognition. Specifically,
details include:
Overview of Fund Industry Metrics
Average holding period
Average lifetime value
Acquisition cost
Cost per assets raised
Cost per lead
Conversion rate
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Orbis Marketing has served six direct distributed mutual fund firms that have $1 to $25
billion assets under management:
Orbis Marketing has identified about 60 target clients that are direct-distributed mutual
fund management firms with $1 to $25 billion assets under management. Orbis
Marketings core capability is online marketing for mutual fund companies.
Orbis Marketing has identified five key capabilities needed to deliver on the firms
business lines, including the eventual need to add an account executive. Specifically,
details include:
Account Executive
Sufficient for now; add as needed
Fund Data
Use Maxs data
System is very robust in terms of historic flows, assets under
management, and fees
Has good data on performance and rankings data
Inherent communication problem with Max
May need to augment with historic Morningstar ratings
Media Planning
Narrow strength; broad weakness
Poor knowledge regarding media other than Morningstar, Marketwatch, and
various other publications
Excellent contacts for some print publications (e.g., Money, Smart Money,
and the Wall Street Journal)
Lack experience and knowledge of ways other media planning firms operate
& generate media plans
Need to add capability and breadth as firm grows
Original Industry Research
Inexperienced
Firms ability to deliver on this may be strong given understanding of industry
and employees
Need to gain experience to be fully effective
May need to purchase some original research
Particularly consumer research
Research capability enhanced by working relationship with Tiburon
Writing & Editing
Uncertain
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Peppers & Rogers Group was founded and has evolved through three phases, including
its early phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Peppers & Rogers Group was its early phase.
Middle Phase
The second phase in the development of Peppers & Rogers Group was its middle
phase.
Recent Phase
The third phase in the development of Peppers & Rogers Group was its recent phase.
Statistics
The second section of Peppers & Rogers Group profile will review some key statistics
regarding the firm.
Businesses
The third section of Peppers & Rogers Group profile will outline its core businesses.
Peppers & Rogers Group has a number of businesses.
Organization & Ownership
The final section of Peppers & Rogers Group profile will address is organizational
structure & ownership.
Peppers & Rogers Group has a web site.
Peppers & Rogers Group is led by its management.
Peppers & Rogers Group is privately owned.
Performance Research Associates
Performance Research Associates is a marketing & public relations consultant company.
History
The first section of Performance Research Associates profile will explain the key
historical events in the firms development.
Performance Research Associates was founded and has evolved through three phases,
including its early, middle, and recent phases.
Businesses
The second section of Performance Research Associates profile will outline its core
businesses.
Performance Research Associates has a number of businesses.
Consulting
DeMarche Associates final business is its consulting business.
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History
The first section of Peter Druckers profile will explain the key historical events in the
firms development.
Peter Drucker was born in 1909 and subsequently became a consulting icon.
Early Phase
The first phase of the development of Peter Drucker was its early phase from 1908 to
1946.
Peter Drucker was born in 1909.
Middle Phase
The second phase of the development of Peter Drucker was its middle phase from 1948
to 1991.
Peter Drucker wrote Concept of Corporation in 1946.
Peter Drucker wrote The Practice of Management in 1954.
Peter Drucker wrote The Age of Discontinuity in 1969.
Recent Phase
The third phase of the development of Peter Drucker was its recent phase from 1992 to
2008.
Peter Drucker wrote Post Capitalist Society in 1993
Peter Drucker wrote The Essential Drucker in 2001
Peter Drucker passed away in 2005.
Peter Drucker profiled General Motors organization and structure.
Peter Drucker was known for his work on many concepts, including decentralization,
privatization, empowerment, and knowledge worker.
Peter Druckers beliefs were captured in another book called The Definitive Drucker in
2007. The book was written by Liz Edersheim and published by McGraw-Hill.
Statistics
The second section of Peter Druckers profile will review some key statistics regarding
the firm.
Businesses
The third section of Peter Druckers profile will outline its core businesses.
Peter Drucker has a number of businesses.
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has
Population Council
employees.
500
has
US
52%
Other Countries
48%
Source: 6/3/ 08 Populat ion Council Web S ite; Tiburon Research & A naly sis
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Price Waterhouse Cooper has threes core businesses, including its audit services, tax
services, and financial planning services business.
Consulting
Price Waterhouse Coopers final business is its consulting business.
Price Waterhouse Coopers may be rebuilding it consulting business.
Organization & Ownership
The final section of Price Waterhouse Coopers profile will address is organizational
structure & ownership.
Price Waterhouse Coopers has a detailed web site, divided into five sections including
careers, PWC portal, publications, about us, & contact us.
Price Waterhouse Coopers is led by its CEO Samuel DiPiazza.
Price Waterhouse Coopers is owned by its partners.
Professional Accounting Sales
Professional Accounting Sales (PAS) is one of the nations largest online supermarkets
for tax professionals and also acts as an investment banker exclusively for tax
professionals. It was founded in 1982 and is based in Atlanta, GA. It has 25, 000
registered buyers and hundreds of sales representing over $240 million in revenues from
49 states. It operates six regional offices that are independently owned and operated.
Its president Leon Faris, and its website is www.cpasales.com.
History
The first section of Professional Accounting Sales profile will explain the key historical
events in the firms development.
Statistics
The second section of Professional Accounting Sales profile will review some key
statistics regarding the firm.
Businesses
The third section of Professional Accounting Sales profile will outline its core
businesses.
Professional Accounting Sales sells practices as small as $100,000 and as large as a
few million dollars in revenue.
Professional Accounting Sales commission is paid in full by the seller. Fees range
between 6% and 10% depending on the size & nature of the practice and the location.
Professional Accounting Sales has six regional offices that are independently owned and
operated.
Professional Accounting Sales sells a complete how-to manual for buying an accounting
practice.
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Professional Accounting Sales has 25,000 registered buyers, almost double from two
years prior.
Professional Accounting Sales has completed hundreds of deals.
Professional Accounting Sales
has represented total sellers
revenues of $240 million, an
increase of almost $70 million
from two years prior.
$240
$175
Practice Sellers
There has never
been a better time to
sell your practice
2002
2004
Minimum
seller
financing
We will confidentially advertise and negotiate the transfer of your practice
Source: 2/16/05 PA S Web S ite; 3/15/02 P AS Conv ers ation (Ezell); 3/15/ 02 PAS Web Sit e; 1/ 02 The CPA Journal; 1/7/ 02 PA S Web Site; 6/ 14/ 01 Accounting
Today; Tiburon Research & A naly sis
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Practice Acquirers
100% financing available to qualified buyers
Buyers do not pay our fees
Typical sales on Professional Accounting Sales are for firms with around $500,000 in
revenues that sell for one or two times revenues.
The most unique attribute of Professional Accounting Sales is that it arranges for almost
three-quarters of its transactions to be paid in cash. Specifically, 70% of the firms sales
transactions are in paid in cash. The remaining 30% is paid by seller-financing or earnout.
Professional Accounting Sales provides financing for qualified buyers through strong
lending relationships. Each office has relationships with local banks that provide for
acquisitions (e.g., the San Francisco office works with Wells Fargos SBA division and
Mid West Bankers). Typical terms include 80%-100% financing, competitive rates,
minimal collateral, and ten-year terms. The approval process requires seven to ten
business days, and the minimum loan amount is $100,000, while the maximum loan
amount is $3,000,000.
Professional Accounting Sales fees are paid by sellers.
Professional Accounting Sales Charges fees ranging between 6% and 10% of the
purchase price depending on the size & nature of the sellers practice and its location.
Professional Accounting Sales has six regional offices that are independently owned and
operated. Each office is headed by a CPA who had earlier owned his or her own firm.
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Professional Accounting Sales produces a buyers manual called The Complete How-To
Guide For Buying an Accounting Practice. The manual also includes a 50 question test
that may qualify for eight hours of CPE credit. The manual sells through the web site for
$295.
Professional Accounting Sales manual contains ready to use forms and checklists
including practice valuation worksheets, due diligence checklists, purchase agreements,
seller financing agreements, and lease assumptions. The manual also contains forms
and checklists for buy/sell agreements, non-competition agreements, financing
documents, closing documents, and transition provisions.
Professional Accounting Sales offers a preferred buyer program which allows access to
additional information. Notifications of new listings are available for members of this
program before they are available to the public. Benefits of the program also include
special financing programs, additional information of listings, a free copy of buyers
manual, and the option of receiving sample contracts & proposals in Word format. The
registration fee for this program is $795, which is refunded upon the closing of a listing.
Organization & Ownership
The final section of Professional Accounting Sales profile will address is organizational
structure & ownership.
Professional Accounting Sales has a web site.
Professional Accounting Sales is led by its President Leon Farisl.
Professional Accounting Sales is privately owned.
Proudfoot Consulting
Proudfoot Consulting was founded.
History
The first section of Proudfoot Consultings profile will explain the key historical events in
the firms development.
Proudfoot Consulting was founded and has evolved through three phases, including its
early phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Proudfoot Consulting was its early phase.
Middle Phase
The second phase in the development of Proudfoot Consulting was its middle phase.
Recent Phase
The third phase in the development of Proudfoot Consulting was its recent phase.
Statistics
The second section of Proudfoot Consultings profile will review some key statistics
regarding the firm.
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Businesses
The third section of Proudfoot Consultings profile will outline its core businesses.
Proudfoot Consulting has a number of businesses.
Organization & Ownership
The final section of Proudfoot Consultings profile will address is organizational structure
& ownership.
Proudfoot Consulting has a web site.
Proudfoot Consulting is led by its management.
Proudfoot Consulting is privately owned.
Publicis Groupe
Publicis Groupe is based in Paris. France.
History
The first section of Publicis Groupes profile outlines the key historical events in the
firms development.
Statistics
The second section of Publicis Groupes profile outlines some key statistics regarding
the firm.
Businesses
The third section of Publicis Groupes profile outlines its core businesses.
Razorfish
Publicis Groupes Razorfish is a web site developer founded in 2004 and based in
Seattle, WA. The company is led by its CEO Clark Kokich. The company web site is
www.avenuea-razorfish.com.
History
The first section of Publicis Groupes Razorfishs profile explains the key historical
events in the firms development.
Publicis Groupes Razorfish was founded in 2004 and has evolved through three
phases, including its early, middle, and recent phases.
Publicis Groupes Razorfish was founded in 2004 through the merger of Razorfish, the
largest interactive marketing & technology services firm and Avenue A, the largest buyer
of online media & search.
Early Phase
This section outlines the early phase of Publicis Groupes Razorfish.
Middle Phase
This section outlines the middle phase of Publicis Groupes Razorfish.
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Recent Phase
This section outlines the recent phase of Publicis Groupes Razorfish.
Statistics
The second section of Publicis Groupes Razorfishs profile reviews some key statistics
regarding the firm.
Businesses
The third section of Publicis Groupes Razorfishs profile outlines its core businesses.
Publicis Groupes Razorfish is an interactive services firm that helps companies use the
online channel as a marketing and business tool. The company combines data, insightdriven design, leading technologies and rigorous optimization to build strong brands and
improve relationships with customers, employees, and partners.
Publicis Groupes Razorfish has five core competencies, including strategy, insight,
creativity, technology, and optimization.
Publicis Groupes Razorfishs creative solutions stem from a strategic model called the
Customer Experience Journey (CEJ), which consists of six beliefs, including the internet
is essential, channels must be integrated, and understanding is key to success. Other
beliefs include users rule, creativity & technology must work together, and there is
always room for improvement.
Publicis Groupes Razorfish has a long list of distinguished clients, including Alaska
Airlines, Astra Zeneca, Best Buy, and Boston Scientific. Specifically, distinguished
clients include:
Alaska Airlines
Astra Zeneca
Best Buy
Bosch Tools
Boston Scientific
Breville
Capital One
Carnival Cruise Lines
CondNet
Coors Brewing Company
Danskin
Dell
Daimler Chrysler
Disney
EMC Corporation
eMedicine
Fanta
Ford Motor Company
Garnier Fructis
Hotels.com
ING DIRECT
Japan Dairy Council
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JCPenney
Kraft
Levi Strauss & Company
Maybelline
Mercedes-AMG
Microsoft/MSN
New York Times Co.
Nielsen Media
Nike
Office Depot
Oxfam
Pershing
PNC Bank
Pringles
Ralph Lauren
Red Bull
Singapore Airlines
Sony Computer Entertainment
Standard Life Bank
Starwood Hotels
Thomson
Toyota
Van Cleef & Arpels
Victoria's Secret
Visa
Williams-Sonoma
Wyeth Pharmaceuticals
XM Satellite Radio
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History
The first section of RB Webbers profile will explain the key historical events in the firms
development.
RB Webber was founded in 1991 and has evolved through three phases, including its
early phase, middle phase, and recent phases.
Early Phase
The first phase in the development of RB Webbers development was its early phase.
RB Webber & Company was founded in 1991.
Middle Phase
The second phase in the development of RB Webbers was its middle phase.
Recent Phase
The third phase in the development of RB Webbers was its recent phase.
Statistics
The second section of RB Webbers profile will review some key statistics regarding the
firm.
Businesses
The third section of RB Webbers profile will outline its core businesses.
RB Webber offers several business services, including corporate strategy, economic
analysis, market opportunity evaluation, partnerships & investments, product & market
strategies, and sales enablement, pricing, & channel management tools.
Organization & Ownership
The final section of RB Webbers profile will address is organizational structure &
ownership.
RB Webber has a web site.
RB Webber is led by a number of high level professionals. RB Webber has six partners:
Joseph Brilando has 25 years of experience in computer & software industries, formerly
at Boston Consulting Group; Katherine Boshkoff has 14 years of product management &
marketing; Stephen Jordan has 23 years of electronic industry experience, formerly at
McKinsey & Company; Robert Lauridsen has 20 years consulting experience formerly at
Boston Consulting Group and Booz, Allen, & Hamilton; Stephen Plume has 15 years
technology consulting experience; Jeffrey Webber has 22 years of technology consulting
experiences, formerly at McKinsey & Company.
RB Webber is privately owned.
Reagan Consulting
Reagan Consulting is based in Atlanta, GA. Its web site is www.reaganconsulting.com.
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History
The first section of Reagan Consultings profile will explain the key historical events in
the firms development.
Reagan Consulting was founded and has evolved through three phases, including its
early phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Reagan Consulting was its early phase.
Reagan Consulting was founded as a bank-insurance consulting firm.
Reagan Consulting assisted banks with dozens of insurance agency acquisitions, joint
ventures, and de novo operations.
Middle Phase
The second phase in the development of Reagan Consulting was its middle phase.
Recent Phase
The third phase in the development of Reagan Consulting was its recent phase.
Statistics
The second section of Reagan Consultings profile will review some key statistics
regarding the firm.
Businesses
The third section of Reagan Consultings profile will outline its core businesses.
Reagan Consulting has a number of businesses.
Organization & Ownership
The final section of Reagan Consultings profile will address is organizational structure &
ownership.
Reagan Consulting has a web site.
Reagan Consultings management team includes Senior Vice President Jim Campbell.
Reagan Consulting is privately owned.
Regroup
Regroup was founded by Ann Oglanian and is based in San Francisco, CA. Ann
Oglanian serves as the firms Managing Director. Its website is devel.regroupllc.com.
History
The first section of Regroups profile will explain the key historical events in the firms
development.
Regroup was founded and has evolved through three phases, including its early phase,
middle phase, and recent phases.
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Early Phase
The first phase in the development of Regroup development was its early phase.
Middle Phase
The second phase in the development of Regroups development was its middle phase.
Recent Phase
The third phase in the development of Regroups development was its recent phase.
Statistics
The second section of Regroups profile will review some key statistics regarding the
firm.
Businesses
The third section of Regroups profile will outline its core businesses.
Regroup has a number of businesses, including its Business Consulting, Compliance,
Technology, and Professional Development.
Business Consulting
Regroups first business is its Business Consulting Business.
Regroups Business Consulting has four segments, including Vendor Management,
Planning, Product Development, and Corporate Governance
Compliance
Regroups second business is its Compliance Business.
Regroups Compliance Business has four segments, including Regulatory Management,
CCO Coaching, Risk Assessment, and Policies & Procedures
Technology
Regroups third business is its Technology Business.
Regroups Technology Business has four segments, including Vendor Evaluation,
Vendor Selection, Implementation, and Project Management
Professional Development
Regroups fourth business is its Professional Development Business.
Regroups Professional Development Business has four segments, including Strategic
Planning, Code of Ethics, Continuing Education, and Conflict Management
Regroup Serves four sectors, including investment Advisors, Hedge Funds, Broker
Dealers, and Mutual Funds
Organization & Ownership
The final section of Regroups profile will address is organizational structure &
ownership.
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Regroup has a detailed web site with five sections, including About Us, Solutions,
Clients, Events & Resources, and Contact Us.
Regroup is led by its Managing Director Ann Oglanian.
Regroup is privately owned.
Renaissance Resources Group
Renaissance Resources Group was founded.
History
The first section of Renaissance Resources Groups profile will explain the key historical
events in the firms development.
Renaissance Resources Group was founded and has evolved through three phases,
including its early phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Renaissance Resources Group was its early
phase.
Middle Phase
The second phase in the development of Renaissance Resources Group was its middle
phase.
Recent Phase
The third phase in the development of Renaissance Resources Group was its recent
phase.
Statistics
The second section of Renaissance Resources Groups profile will review some key
statistics regarding the firm.
Businesses
The third section of Renaissance Resources Groups profile will outline its core
businesses.
Renaissance Resources Group has a number of businesses.
Organization & Ownership
The final section of Renaissance Resources Groups profile will address is
organizational structure & ownership.
Renaissance Resources Group has a web site.
Renaissance resource group is led by its management.
Renaissance Resources Group is privately owned.
Right Management Consultants
Right Management Consultants was founded and is based in Pittsburgh, PA.
353
History
The first section of Right Management Consultants profile outlines the key historical
events in the firms development.
Right Management Consultants was founded and has evolved through three phases,
including its early, middle, & recent phases
Early Phase
This section outlines the early phase of Right Management Consultants.
Right Management Consultants were founded as a career transition and organizational
consulting firm.
Middle Phase
This section outlines the middle phase of Right Management Consultants.
Recent Phase
This section outlines the recent phase of Right Management Consultants.
Statistics
The second section of Right Management Consultants profile outlines some key
statistics regarding the firm.
Businesses
The third section of Right Management Consultants profile outlines its core businesses.
Right Management Consultants has a number of businesses.
Organization & Ownership
The final section of Right Management Consultants profile outlines its organizational
structure & ownership.
Right Management Consultants has a web site.
Right Management Consultants is led by its management team.
Right Management Consultants is privately owned.
Robert Reich
Robert Reich was founded.
History
The first section of Robert Reichs profile will explain the key historical events in the
firms development.
Robert Reich was founded and has evolved through three phases, including its early
phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Robert Reich was its early phase.
354
Middle Phase
The second phase in the development of Robert Reich was its middle phase.
Recent Phase
The third phase in the development of Robert Reich was its recent phase.
Statistics
The second section of Robert Reichs profile will review some key statistics regarding
the firm.
Businesses
The third section of Robert Reichs profile will outline its core businesses.
Robert Reich has a number of businesses.
Organization & Ownership
The final section of Robert Reichs profile will address is organizational structure &
ownership.
Robert Reich has a web site.
Robert Reich is led by its CEO Robert Reich.
Robert Reich is privately owned.
Rocaton Investment Advisors
Rocaton Investment Advisors is based in Darien, CT.
History
The first section of Rocaton Investment Advisors profile will explain the key historical
events in the firms development.
Rocaton Investment Advisors was founded.
Businesses
The second section of Rocaton Investment Advisors profile will outline its core
businesses.
Rocaton Investment Advisors was started by Rogers Casey pension employees who left
the firm when CRA purchased the firm.
Rocaton Investment Advisors has a number of businesses.
Consulting
Rocaton Investment Advisors final business is its consulting business.
Organization & Ownership
The final section of Rocaton Investment Advisors profile will address is organizational
structure & ownership.
Rocaton Investment Advisors has a web site.
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Ryan ALMs web site offers three entry points, including clients, company info, and Ryan
Indexes.
Ryan ALM is led by its Chief Financial Architect Ron Ryan.
Ryan ALM is Privately Owned.
Ryan Insurance Strategy Consultants
Ryan Insurance Strategy Consultants is a Greenwood, CO based independent
insurance brokerage firm specializing in life insurance, disability, and long term care
policy analysis and underwriting. The firms President is John Ryan. Its web site is
www.ryan-insurance.com.
History
The first section of Ryan Insurance Strategy Consultants profile will explain the key
historical events in the firms development.
Ryan Insurance Strategy Consultants was founded and has evolved through three
phases, including its early phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Ryan Insurance Strategy Consultants was its early
phase.
Middle Phase
The second phase in the development of Ryan Insurance Strategy Consultants was its
middle phase.
Recent Phase
The third phase in the development of Ryan Insurance Strategy Consultants was its
recent phase.
Statistics
The second section of Ryan Insurance Strategy Consultants profile will review some key
statistics regarding the firm.
Businesses
The third section of Ryan Insurance Strategy Consultants profile will outline its core
businesses.
Ryan Insurance Strategy Consultants has a number of businesses.
Organization & Ownership
The final section of Ryan Insurance Strategy Consultants profile will address is
organizational structure & ownership.
Ryan Insurance Strategy Consultants has a web site.
Ryan Insurance Strategy Consultants is led by its management.
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Sapient
has
over
6,000
employees, up 26% since 2006.
$175
2002
2004
Source: 2/16/05 PA S Web S ite; 3/15/02 P AS Conv ers ation (Ezell); 3/15/ 02 PAS Web Sit e; 1/ 02 The CPA Journal; 1/7/ 02 PA S Web Site; 6/ 14/ 01 Accounting
Today; Tiburon Research & A naly sis
28
Businesses
The third section of Sapients profile will outline its core businesses.
Sapient has five businesses, including Business & IT Strategy, Business Applications,
Business Intelligence, Outsourcing, & Marketing Strategy.
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361
Statistics
The second section of Schlumbergers profile will review some key statistics regarding
the firm.
Businesses
The third section of Schlumbergers profile will outline its core businesses.
Schlumberger has a number of businesses.
Organization & Ownership
The final section of Schlumbergers profile will address is organizational structure &
ownership.
Schlumberger has a web site.
Schlumberger is led by its management.
Schlumberger is privately owned.
Scient
Scient was founded
History
The first section of Scients profile will explain the key historical events in the firms
development.
Scient was founded and has evolved through three phases, including its early phase,
middle phase, and recent phases.
Early Phase
The first phase in the development of Scient development was its early phase.
Middle Phase
The second phase in the development of Scient development was its middle phase.
Recent Phase
The third phase in the development of Scient development was its recent phase.
Statistics
The second section of Scients profile will review some key statistics regarding the firm.
Businesses
The third section of Scients profile will outline its core businesses.
Scient has a number of businesses.
Organization & Ownership
The final section of Scients profile will address is organizational structure & ownership.
Scient has a web site.
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363
Recent Phase
The third phase in the development of SFM Consulting was its recent phase.
Statistics
The second section of SFM Consultings profile will review some key statistics regarding
the firm.
Businesses
The third section of SFM Consultings profile will outline its core businesses.
SFM Consulting has a number of businesses.
Organization & Ownership
The final section of SFM Consultings profile will address is organizational structure &
ownership.
SFM Consulting has a web site.
SFM Consulting is led by its CEO Peter Starr. Peter Starr is a former MD of Institutional
business at Cerulli. Peter Starr can be reached at 617-454-1033 x3283.
SFM Consulting is privately owned.
Shannahan & Company
Shannahan & Company is based in Mill Valley, CA. Their CEO is Pete Shannahan.
History
The first section of Shannahan & Companys profile will explain the key historical events
in the firms development.
Shannahan & Company was founded and has evolved through three phases, including
its early phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Shannahan & Companys development was its
early phase.
Middle Phase
The second phase in the development of Shannahan & Companys development was its
middle phase.
Recent Phase
The third phase in the development of Shannahan & Companys development was its
recent phase.
Statistics
The second section of Shannahan & Companys profile will review some key statistics
regarding the firm.
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Businesses
The third section of Russell Reynolds Associates profile will outline its core businesses.
Shannahan & Company has a number of businesses.
Organization & Ownership
The final section of Shannahan & Companys profile will address is organizational
structure & ownership.
Shannahan & Company has a web site.
Shannahan & Company is led by Pete Shannahan.
Shannahan & Company is owned by Pete Shannahan.
Sincere & Company
Sincere & Company was founded.
History
The first section of Sincere & Companys profile will explain the key historical events in
the firms development.
Sincere & Company was founded and has evolved through three phases, including its
early phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Sincere & Company was its early phase.
Middle Phase
The second phase in the development of Sincere & Company was its middle phase.
Recent Phase
The third phase in the development of Sincere & Company was its recent phase.
Statistics
The second section of Sincere & Companys profile will review some key statistics
regarding the firm.
Businesses
The third section of Sincere & Companys profile will outline its core businesses.
Sincere & Company has a number of businesses.
Organization & Ownership
The final section of Sincere & Companys profile will address is organizational structure
& ownership.
Sincere & Company has a web site.
Sincere & Company is led by its management.
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History
The first section of SRI Internationals profile will explain the key historical events in the
firms development.
SRI International was founded as the Stanford Research Institute in 1946 and has
subsequently experienced significant growth. Its growth can be tracked across three
phases: its early days phase, its significant growth phase, and its independent growth
phase.
Early Days Phase
The first phase in the development of SRI International was its early days phase from
1946 to 1952.
SRI International was founded as Stanford Research Institute in 1946 when it was
granted non-profit status from Stanford University.
SRI Internationals predecessor, Stanford Research Institute, started its first research
project, led by eleven Stanford University trustee-elected directors in 1946.
SRI Internationals predecessor, Stanford Research Institute had 198 employees in
1948.
SRI Internationals predecessor, Stanford Research Institute, moved to Stanford Village
from campus in the early 1950s.
SRI Internationals predecessor, Stanford Research Institute, began its international
division in the early 1950s.
Significant Growth Phase
The second phase in the development of SRI International was its significant growth
phase from 1956 to 1969.
SRI Internationals predecessor Stanford Research Institutes large-scale innovations
staff exceeds 1,400 employees by the early 1960s.
SRI Internationals predecessor, Stanford Research Institute, began its business
intelligence program in the mid 1960s.
SRI Internationals predecessor, Stanford Research Institute, opened its Tokyo office in
the late 1960s.
SRI Internationals predecessor, Stanford Research
demonstration of personal computing in the late 1960s.
Institute,
made
the
first
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SRI International took on a large scale marketing and advertising effort with the Values
and Lifestyles Program in the 1980s.
SRI International Acquired Smarnoff Corporation in 1987. Founded in 1942, it was
formerly RCA Laboratories. Smarnoff is now the firms for-profit subsidiary. It offers
electronic, information, and biomedical innovations to address marketplace needs. It
has 600 employees generating $117 million in revenue.
Statistics
The second section of SRI Internationals profile will review some key statistics regarding
the firm.
SRI International has 12 offices.
SRI International has almost 1,500 employees. Specifically, it had 1,400 employees in
2005.
SRI International generates almost $400 million revenues. Specifically, it generated
$374 million in revenues in 2005.
Businesses
The third section of SRI Internationals profile will outline its core businesses.
SRI International is organized into five businesses, including its Engineering & Systems,
Policy, Information & Computing Sciences, Biosciences, & Physical Sciences Divisions.
Engineering & Systems
SRI Internationals first business line is its Engineering & Systems Division, which is its
largest group. SRI international conducts engineering research, systems engineering
and development, and integration services for government clients.
Policy
SRI Internationals second business line is its Policy Division. It helps government
agencies, nonprofits, and commercial clients solve problems and capitalize on
opportunities pose by complex issues in education, health, economic development, and
human services through research-based solutions.
Information & Computing Sciences
SRI Internationals third business line is its Information & Computing Sciences Division.
It develops and advances new technologies in machine intelligence, speech and natural
language, perception and visual sciences, bioinformatics, formal methods, and computer
security.
Biosciences
SRI Internationals fourth business line is its Biosciences Division. It is a full-service
preclinical contract research organization for government and commercial clients.
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Physical Sciences
SRI Internationals fifth business line is its Physical Sciences Division. It offers
multidisciplinary teams to solve technical challenges through laboratory experiments,
computer simulations, and testing.
SRI International, along with their subsidiary Sarnoff Corporation, create new spin-off
businesses to capitalize on technology developed at SRI and move it into the
marketplace. It formed 16 new ventures through work with top-tier investment and
venture capital firms. It nurtures technology and business concepts to create funding
opportunities.
SRI International also provides Research & Development Resources to portfolio
companies. It helps startups minimize risk and cost of building a research and
development infrastructure. It serves as an independent technology expert during the
due diligence process.
SRI International has dozens of spin-off companies. Specifically, details include:
Artificial Muscle
-Bridge Pharmaceuticals
-Discern Communications
-Intuitive
-Surgical
-Lamina Ceramics
-Locus Pharmaceuticals
-Nuance Communications
-Orchid Biosciences
-Packet Hop
-Poly Fuel
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PowerZyme
-Princeton Lightwave
-Pyramid Vision Technologies
-Secure Products
-Songbird Hearing
-SRI Consulting Business Intelligence
-One of SRI Internationals Spin-Off Ventures is SRI Consulting Business Intelligence. It
is based in Menlo Park, California. It is an employee-owned spin-off of SRI International.
It combines content-based research programs with consulting expertise. It has web site
at www.sric-bi.com.
SRI Consulting Business Intelligence is organized into nine core consulting services.
These nine core services are technology & market assessments, opportunity discovery,
innovation & commercialization, consumer demand, scenario planning, strategy,
intelligence solutions, technology management and, learning strategy.
SRI Consulting Business Intelligence utilizes six proprietary research programs to
support its consulting services. Specifically, details include:
Scan
Corporate radar for scoping out early signals of change
Digital Futures
Offers informed and unbiased views of new opportunities in technology
Explorer
Offers a balanced understanding of change in opportunities in technology
commercialization
Learning on Demand
Offers opportunities in technology-enabled learning and strategies in
eLearning
VALS
Corporate radar for scoping out early signals of change
Consumer Financial Decision
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SRI Internationals first service is technology & market assessments. Provides focused
independent assessments using best-practices research techniques utilizing extensive
technical and market expertise in the research programs.
SRI Consulting Business Intelligences second service is opportunity discovery.
A
process of innovation that gives companies a systematic way to explore opportunities by
zeroing in on those with the greatest promise for business.
SRI Consulting Business Intelligences third service is innovation and commercialization.
It assists in understanding and harnessing alternative principles of innovation and
commercialization, to work through processes and create new business opportunities.
Its specialized tools support companies in important efforts.
SRI Consulting Business Intelligences fourth service is consumer demand. It assists
corporations in meeting consumer demand objectives through research skills and tools.
It utilizes proprietary VALS consumer psychographic segmentation methodology.
SRI Consulting Business Intelligences fifth service is scenario planning. It is a tool for
making strategic decisions in an environment of uncertainty. The methodology
developed from an alliance with Royal Dutch/Shell and General Electric.
SRI Consulting Business Intelligences sixth service is strategy. Utilizes the market,
technology experts, and tools to help companies develop and manage new strategies.
SRI Consulting Business Intelligences seventh service is intelligence solutions. It
assists companies in integrating intelligence systems and practices into their strategymanagement processes.
SRI Consulting Business Intelligences eighth service is technology management. It
assists companies in maintaining sight of technology developments and aligning their
technology investments to business needs.
SRI Consulting Business Intelligences ninth service is learning strategy. It utilizes the
proprietary Learning on Demand program. It focuses on practical uses of technology,
along with existing and new modes of learning to improve the efficiency and impact of
learning for business units, employees, partners, customers, and students.
SRI Consulting Business Intelligences clients represent six key industry sectors.
Specifically, details include:
Electronics
Firm utilizes experts from the proprietary Digital Futures program
Identifies plans for next-generation products and services for leading
electronics manufacturers
Oil, Gas & Energy
Firm assists in aligning corporate, business-unit, and technology objectives
and activities
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SRI Consulting Business Intelligences key client industries include financial services. It
assists financial services industry clients develop the data, capabilities, and strategies to
create decisive business solutions.
SRI Consulting Business Intelligence utilizes their Consumer Financial Decisions Group
to execute its financial services projects. It provides strategic planning, marketing, and
research services to leading financial institutions, associations, government agencies,
and universities.
SRI Consulting Business Intelligences Consumer Financial Decisions Group offers nine
products & services. Specifically, details include:
Macro Monitor
Biennial macroeconomic data-collection and analysis program that combines
behavioral measures with attitudinal measures
Wealthy Boomers
Program that analyzes current and future wealthy boomers and their use of
financial products and services
Profit From Online Financial Services
Program to help financial institutions understand the online consumer market
thoroughly and integrate the online component effectively and seamlessly
into their overall service-delivery infrastructure
Competing in the New Deregulation Era
Report giving institutions a look at the attitudes and demographics of bank
and investment core and upscale customers as they approach an era of
financial-services deregulation
Aging Boomers
Analytic report that looks at boomers and their financial services
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Financial Mind-Sets
Study that analyzes the changes in consumer financial behavior in the past
decade and describes the financial mind-sets that are at work today
Future of Life Insurance
Analysis report using data from the Macro Monitor to identify and interpret the
predominant and prevalent trends for life insurance
Investor Styles
Analysis using a standardized financial psychographic segmentation to
demonstrate how investors differ psychologically
Compensating Life Insurance Sale Reps
Study to gauge the awareness of and reaction to current life insurance
compensation practices and alternative compensation systems among the
groups most affected by these practices
SRI Consulting Business Intelligence has done six recent projects for financial services
industry clients. Specifically, details include:
Understanding 401K Consumers
Assisted a leading 401k provider in profiling and understanding its plan
participants and financial services consumers in general
Utilized the proprietary Macro Monitor and VALS programs
Conventional Wisdom of Financial Customers
Worked with a US financial institution to administer a custom survey and
develop new segment profiles
Development of Environmental Principles for Banks
Worked with a major international bank to develop environmental principles
and a strategy
Assessment of US Financial Markets
Used scenarios to study the future business environment of the US financial
industry for a major Japanese bank
Test-Market Response to New Concept
Assisted the exploration of introducing a new retail paradigm and testing of
the product and service concept for a large west coast bank
New Advertising Strategy
Assisted an institution to develop a new corporate campaign and set of
messages, working through an advertising agency
SRI Internationals web site is very detailed and easy to navigate. The web site features
the following areas of information about the firm:
About Us
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R&D Divisions
Careers
Newsroom
Contact Us
Focus Areas
SRI Japan
Sarnoff Corporation
Subscribe to The SRI Digest
Curtis Carlson was formerly employed by Sarnoff Corporation before ascending to the
role of CEO for SRI.
SRI Consulting Business Intelligence is privately owned.
Stephen Covey (Franklin Covey Company)
Stephen Covey is the co-CEO of Franklin Covey Company and was born in 1932. He is
known as a leadership super coach and has written numerous books such as First
Things First in 1994, Principle Centered Leadership (1991), and The 7 Habits of Highly
Effective People. He has a web site at www.lessonsinleadership.com.
History
The first section of Stephen Coveys profile will explain the key historical events in the
firms development.
Franklin Covey Company was founded and has evolved through three phases, including
its early phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Franklin Covey Company was its early phase.
Stephen Covey was born in 1932.
374
Middle Phase
The second phase in the development of Franklin Covey Company was its middle
phase.
Recent Phase
The third phase in the development of Franklin Covey Company was its recent phase.
Statistics
The second section of Stephen Coveys profile will review some key statistics regarding
the firm.
Businesses
The third section of Stephen Coveys profile will outline its core businesses.
Franklin Covey Company has a number of businesses.
Organization & Ownership
The final section of Stephen Coveys profile will address is organizational structure &
ownership.
Franklin Covey Company has a web site.
Franklin Covey Company is led by its CEO Stephen Covey.
Franklin Covey Company is privately owned.
Stern, Stewart, & Company
Stern, Stewart, & Company was founded.
History
The first section of Stern, Stewart, & Companys profile will explain the key historical
events in the firms development.
Stern, Stewart, & Company was founded and has evolved through three phases,
including its early phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Stern, Stewart, & Company was its early phase.
Stern, Stewart, & Company was founded.
Middle Phase
The second phase in the development of Stern, Stewart, & Company was its middle
phase.
Recent Phase
The third phase in the development of Stern, Stewart, & Company was its recent phase.
Statistics
The second section of Stern, Stewart, & Companys profile will review some key
statistics regarding the firm.
375
Businesses
The third section of Stern, Stewart, & Companys profile will outline its core businesses.
Stern Stewart & Company has several various businesses.
Organization & Ownership
The final section of Stern, Stewart, & Companys profile will address is organizational
structure & ownership.
Stern Stewart & Company has a web site.
Stern, Stewart, & Company is led by its management.
Stern Stewart & Company is privately owned.
Strategic Coach
Strategic Coach is based in Toronto, Canada. The Strategic Coach Program is a threeyear long program (classes meet once per quarter) that coaches highly successful
entrepreneurs. The key focus points for entrepreneurs are how to simplify their lives, get
their lives back in balance, and overcome any guilt they feel about their success. They
also offer Knowledge Products, introducing ideas taught in the program, including
thinking clearly about your goals and measuring progress to maximize energy and
confidence.
History
The first section of Strategic Coachs profile will explain the key historical events in the
firms development.
Strategic Coach was founded and has evolved through three phases, including its early
phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Strategic Coach was its early phase.
Middle Phase
The second phase in the development of Strategic Coach was its middle phase.
Recent Phase
The third phase in the development of Strategic Coach was its recent phase.
Statistics
The second section of Strategic Coachs profile will review some key statistics regarding
the firm.
Businesses
The third section of Strategic Coachs profile will outline its core businesses.
Strategic Coach has a number of businesses.
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377
Crisis Communications
Strategic Execution Groups third business is crisis communications.
Mergers & Acquisitions Communications
Strategic Execution Groups fourth business is mergers & acquisitions communications.
Research
Strategic Execution Groups fifth business is research.
Organization & Ownership
The final section of Strategic Execution Groups profile will address is organizational
structure & ownership.
Strategic Execution Groups web site is currently an outline with limited information but is
divided into four sections, including Overview, Capabilities, Professionals, and Contact.
Strategic Execution Group is led by its Partners Steve Scheid & Jane Ingalls. Steve
Scheid is chairman of Janus Capital Group; he was also previously at The Charles
Schwab Corporation and First Interstate Bancorporation; Jane Ingalls is the founder of
Artemis Communications; she was previously at Janus Capital Group, Oppenheimer
Funds, Sawyer & Miller Group, Prudential Securities, and Morgan Stanley
Strategic Execution Group is privately owned.
Strategix Performance
Strategix Performance was founded.
History
The first section of Strategix Performances profile will explain the key historical events in
the firms development.
Strategix Performance was founded.
Statistics
The second section of Strategix Performances profile will review some key statistics
regarding the firm.
Businesses
The second section of Strategix Performances profile will outline its core businesses.
Strategix Performance has several various businesses.
Organization & Ownership
The final section of Strategix Performances profile will address is organizational
structure & ownership.
Strategix Performance has a web site.
Strategix Performance is led by its management.
Strategix Performance is privately owned.
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379
Success Profiles was founded and has evolved through three phases, including its early
phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Success Profiles development was its early
phase.
Middle Phase
The second phase in the development of Success Profiles development was its middle
phase.
Recent Phase
The third phase in the development of Success Profiles development was its recent
phase.
Statistics
The second section of Success Profiles profile will review some key statistics regarding
the firm.
Businesses
The third section of Success Profiles profile will outline its core businesses.
Success Profiles has a number of businesses.
Organization & Ownership
The final section of Success Profiles profile will address is organizational structure &
ownership.
Success Profiles has a web site.
Success Profiles is led by its management.
Success Profiles is privately owned.
Sun Star
Sun Star was founded in 1991 by Kathryn Morrison based in Alexandria, VA and has 2
offices with 25 clients. It is led by its CEO Kathryn Morrison. The company web site is
www.isunstar.com.
History
The first section of Sun Stars profile explains the key historical events in the firms
development.
Sun Star was founded in 1991 and has evolved through three phases, including its early phase,
middle phase, and Tiburon affiliation phases.
Sun Star was founded in 1991 to offer media relations services to investment managers &
financial trade associations.
Early Phase
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381
Sun Stars news media relations service arranges meetings with reporters and financial
publications.
Sun Stars fifth service is strategic communications counseling.
Sun Stars sixth service is managing press conferences.
Sun Stars seventh service is corporate communications & investor relations which
arranges analyst conferences.
Sun Stars eighth service is market research.
Sun Stars market research service has four methods of research, including message
testing, public opinion polling, focus group testing, and overnight surveys.
Sun Stars ninth service is video production.
Sun Stars tenth service is newsletters whereby it produces newsletters for mutual fund
companies, and non profit organizations.
Sun Stars executives often speak at conferences, including those for the national
investment company service association (NICSA) and mutual fund education alliance
(MFEA).
Organization & Ownership
The final section of Sun Stars profile addresses its organizational structure & ownership.
Sun Stars web site is organized into seven sections, including about us, why Sun Star,
team, services, testimonials, careers, and contact.
Sun Star also has a web site called iFinancial Marketing which is an online publication
providing information on marketing, public relations, branding, and other marketing
strategies. This web site has six sections, including All Stories, Careers, Press
Connection, Contact, Archive, and About IFM.
Sun Star is led by its CEO Kathryn Morrison. Other key executives include Dan
Sondhelm, Robert Brummond, Bob Tebelff, Melissa Murphy, Omar Hafez, Seuk Kim,
Amiee Watts, James Doyle, Tony Kono, and Sue Bryant.
Sun Star is privately owned.
Symmetrix
Symmetrix was founded
History
The first section of Symmetrixs profile will explain the key historical events in the firms
development.
Symmetrix was founded and has evolved through three phases, including its early
phase, middle phase, and recent phases.
382
Early Phase
The first phase in the development of Symmetrix development was its early phase.
Middle Phase
The second phase in the development of Symmetrix development was its middle phase.
Recent Phase
The third phase in the development of Symmetrix development was its recent phase.
Statistics
The second section of Symmetrixs profile will review some key statistics regarding the
firm.
Businesses
The third section of Symmetrixs profile will outline its core businesses.
Symmetrix has a number of businesses.
Organization & Ownership
The final section of Symmetrixs profile will address is organizational structure &
ownership.
Symmetrix has a web site.
Symmetrix is led by its management.
Symmetrix is privately owned.
Syntaxis
Syntaxis was founded.
History
The first section of Syntaxis profile will explain the key historical events in the firms
development.
Syntaxis was founded.
Businesses
The second section of Syntaxis profile will outline its core businesses.
Syntaxis has several various businesses.
Consulting
Syntaxis final business is its consulting business.
Organization & Ownership
The final section of Syntaxis profile will address is organizational structure & ownership.
Syntaxis has a web site.
Syntaxis is led by its management.
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384
The Br ookings Institute Focuses on Five Main Areas of Research, Including Economic Studies,
Foreign Policy, Governance, Global Economy & Development, and Metropolitan Policy
Brookings Institute
Economic Studies
Foreign Policy
Go vernan ce
Global Economy
& Develop ment
Metrop olitan
Policy
The Brookings
privately owned.
Institute
is
385
Businesses
The third section of The Conference Boards profile will outline its core businesses.
The Conference Board has several various businesses.
The Conference Board publishes some of the leading economic surveys.
Organization & Ownership
The final section of The Conference Boards profile will address is organizational
structure & ownership.
The Conference Board has a web site.
The Conference Board is led by CEO Jonathan Spector.
The Conference Board is privately owned.
The Gallup Organization
The Gallup Organization was founded.
History
The first section of The Gallup Organizations profile will explain the key historical events
in the firms development.
The Gallup Organization was founded and has evolved through three phases, including
its early phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Gallup Organization was its early phase.
Middle Phase
The second phase in the development of Gallup Organization was its middle phase.
Recent Phase
The third phase in the development of Gallup Organization was its recent phase.
Statistics
The second section of The Gallup Organizations profile will review some key statistics
regarding the firm.
Businesses
The third section of The Gallup Organizations profile will outline its core businesses.
The Gallup Organization has a number of businesses.
Organization & Ownership
The final section of The Gallup Organizations profile will address is organizational
structure & ownership.
The Gallup Organization has a web site.
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387
History
The first section of The McHenry Groups profile will explain the key historical events in
the firms development.
The McHenry Group was founded and has evolved through three phases, including its
early, middle, and recent phases.
Early Phase
The first phase in the development of The McHenry Group was its early phase.
Middle Phase
The second phase in the development of The McHenry Group was its middle phase.
Recent Phase
The third phase in the development of The McHenry Group was its recent phase.
Statistics
The second section of The McHenry Groups profile will review some key statistics
regarding the firm.
Businesses
The third section of The McHenry Groups profile will outline its core businesses.
The McHenry Group sends out frequent email newsletters.
The McHenry Group fielded a twenty-seven question survey of third party retirement
administrators in 2000. The survey covers infrastructure, service offerings, vendor
usage & satisfaction, and the impact of emerging products & services.
The McHenry Groups survey is a respectable effort but not too deep. Specifically,
details include:
Strengths
Covers breadth of topics
Comprehensive survey
Covers vendor use and satisfaction
Weaknesses
Report summarizes responses; little analysis or benchmarking
Satisfaction ratings not vendor-specific
Asks survey taker to rate their satisfaction on their primary vendor, but
does not tie across users
No revenue questions (cannot establish best practices)
No qualitative comments
The McHenry Group has a subsidiary company called Pro Tools.
The McHenry Group has a number of businesses.
388
389
390
NASDAQ ticker as RTRSY. Thomson Reuters is led by CEO Tom Glocer. Their web
sites are www.ThomsonReuters.com and www.lipperleaders.com.
History
The first section of Thomson Reuters profile will explain the key historical events in the
firms development.
Thomson Reuters was founded in 1851.
Businesses
The second section of Thomson Reuters profile will outline its core businesses.
Thomson Reuters has several businesses, including Lipper.
Lipper
Thomson Reuters Lipper provides research on over 130,000 funds and assets in excess
of $10 trillion. It was founded in 1973. It was acquired by Thomson Reuters in 1998. It
is based in New York and Denver. It has 350 employees. The CEO is Michael Peace.
Thomson Reuters Lipper has 350 employees.
Thomson Reuters Lipper has made seven recent key acquisitions, including Hardwick,
Stafford, & Wright, BOPP ISB AG, CAMRA, BT Alex Brown Investment Trusts, Fitzrovia
International, Hedge World, and TASS Research.
Thomson Reuters Lipper is a global leader in mutual funds information, analytics, &
commentary.
Thomson Reuters Lippers data and classifications are widely accepted in the industry.
Thomson Reuters Lipper has little presence among consumers or financial advisors.
Thomson Reuters Lipper appears to be pushing into the financial advisor market by
making its classification system more relevant, since being acquired by Thomson
Reuters.
Organization & Ownership
The final section of Thomson Reuters profile will address is organizational structure &
ownership.
Thomson Reuters has a web site.
Thomson Reuters Lipper has a web site.
Thomson Reuters is led by its CEO Tom Glocer.
Thomson Reuters Lipper is led by its CEO Michael Peace.
Thomson Reuters is privately owned.
391
2001 - 2004: Allowed revenues to go down; use conference speeches to pay bills
2001: Published first research report
2001: Initiated weekly research releases
2001: Began building ACT database
2001: Began building benchmarking tools
2002: Established CEO Summits
2002: Upgraded web site
2003: Began CEOs in-Residence, Consulting Fellows, and Financial Advisor
Roundtable Programs
2003: Shifted release program from mail to email
2004: Expanded office space
2004: Installed technology infrastructure
2003: Grew size of ACT Database through trades
2004: Tiburon purchased the bulk of its furniture
2004: Shifted CEO Summits to Paul Hastings and expanded to 75 attendees
2005: Future of Advice research report
392
Statistics
The second section of Tiburon Strategic Advisors profile will review some key statistics
regarding the firm.
Businesses
The third section Tiburon Strategic Advisors profile will outline its core businesses.
Tiburon is a research-based strategic consulting firm serving the financial services
industry; other firms play more tactical roles. The firms core services are the delivery
of research-based strategy consulting including its market seminars. The firm also
prides itself on helping its clients through the process of strategic implementation (e.g.,
identifying vendors, etc.). However, the firm recognizes that there comes a point where
Tiburon's research skills are no longer the focus of its clients' needs and clients
specifically need assistance in designing brochures, training advisors, installing software
393
Tiburon
Consulting Industry Services
Ve nture C apital
Advice
Organiza tional
Effectivene ss
C ons ulting
Operations &
Te chnology Consulting
Tiburon values teamwork and strongly believes in distributing documents ahead of time;
first internally, then to client staff.
Tiburon won awards in 2001 and 2002 from the San Francisco Business Times based
on its revenue growth. Specifically, details include:
2001 San Francisco Business Times
#31 fastest growing company in the Bay Area 1998-2000
248% revenue growth
2002 San Francisco Business Times
CEO Su mmit
Spo ns or sh ips
7%
E xecu ti ve
Co u nse lin g,
Reta ine rs , & Bo ard
Rol es
9%
Re sear ch Rep or t
Acce ss P rog ram,
Re sea rch Rep o rt s, &
Dat aba se Ac cess
P rog ra m
31 %
M ar ket S em ina rs
5%
Con fe ren ce
Sp eec he s
1 9%
Not e:
Tiburons net operating revenues ex clude both reimbursed expens es and int erest & divid end incom e
Source: Tiburon Research & A nalys is
394
Tiburon generates about two-thirds of its revenues from client-specific market research
and strategy consulting services, and the other one-third from research reports,
conference speeches & other activities. Specifically, strategy consulting contributed
13% and market research projects accounted for 15% of Tiburons net operating
revenues, , while conference speeches were 19%. Executive counseling, retainers &
board roles contributed 9% and market seminars added an additional 5%. In the other
areas of activity which generate revenues, research retainer reports, research reports, &
databases contributed 31% to revenues generated, executive programs 1%, and CEO
Summit sponsorships contributed 7%.
Tiburons managing principal has had two significant media profiles in Investment News
in 2000 and in Research Magazine in 2005. Specifically, details include:
Investment News
Managing principal was profiled
Research Magazine
Managing principal was featured on the cover
Tiburon is building its CEOs-in Residence, Financial Advisor Round Table, and Fellows
Programs to bring additional resources to Tiburon clients, to strengthen client
relationships, and to work with friends throughout the industry.
Tiburon shifted its CEO Summits to the Ritz Carlton Hotel and increased the attendees
to 100 in 2007.
Organization & Ownership
The final section of Tiburon Strategic Advisors profile will address is organizational
structure & ownership.
Tiburon Strategic Advisors has a web site. The web sites areas of navigation include
About Tiburon, Client Services, Research Reports, Tiburon People, Tiburon CEO
Summits, and Tiburon Toolkit.
Tiburon is seeking to expand its current staff, with a focus on adding either a chief
consulting officer and/or a team of three principals & associate principals.
Tiburon Strategic Advisors is privately owned by Chip Roame.
Tom Peters Group
Tom Peters Group is led by CEO Tom Peters.
History
The first section of Tom Peters Group profile will explain the key historical events in the
firms development.
Tom Peters Group was founded and has evolved through three phases, including its
early phase, middle phase, and recent phases.
Early Phase
395
The first phase in the development of Tom Peters Group was its early phase.
Middle Phase
The second phase in the development of Tom Peters Group was its middle phase.
Recent Phase
The third phase in the development of Tom Peters Group was its recent phase.
Statistics
The second section of Tom Peters Group profile will review some key statistics
regarding the firm.
Businesses
The third section of Tom Peters Group profile will outline its core businesses.
Tom Peters Group has a number of businesses.
Organization & Ownership
The final section of Tom Peters Group profile will address is organizational structure &
ownership.
Tom Peters Group has a web site.
Tom Peters Group is led by its CEO Tom Peters.
Tom Peters Group is privately owned.
Tom Stanley
Tom Stanley is led by its CEO Tom Stanley
History
The first section of Tom Stanleys profile will explain the key historical events in the firms
development.
Tom Stanley was founded and has evolved through three phases, including its early
phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Tom Stanley was its early phase.
Middle Phase
The second phase in the development of Tom Stanley was its middle phase.
Recent Phase
The third phase in the development of Tom Stanley was its recent phase.
Statistics
The second section of Tom Stanleys profile will review some key statistics regarding the
firm.
396
Businesses
The third section of Tom Stanleys profile will outline its core businesses.
Tom Stanley has a number of businesses.
Organization & Ownership
The final section of Tom Stanleys profile will address is organizational structure &
ownership.
Tom Stanley has a web site.
Tom Stanley is led by its CEO Tom Stanley.
Tom Stanley is owned by Tom Stanley.
Tower Group
Tower Group was founded.
History
The first section of Tower Groups profile will explain the key historical events in the
firms development.
Tower Group was founded and has evolved through three phases, including its early
phase, middle phase, and recent phases.
Early Phase
The first phase in the development of Tower Group development was its early phase.
Middle Phase
The second phase in the development of Tower Group development was its middle
phase.
Recent Phase
The third phase in the development of Tower Group development was its recent phase.
Statistics
The second section of Tower Groups profile will review some key statistics regarding
the firm.
Businesses
The third section of Tower Groups profile will outline its core businesses.
Tower Group has a number of businesses.
Organization & Ownership
The final section of Tower Groups profile will address is organizational structure &
ownership.
Tower Group has a web site.
Tower Group is led by its management.
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398
Towers Perrin was founded in 1934 with focus on issues in the areas of human resource
consulting & administration, management & actuarial consulting to the financial services
industry, and reinsurance intermediary services.
Middle Phase
The second phase in the development of Towers Perrin was its middle phase from 1971
to 2000.
Recent Phase
The third phase in the development of Towers Perrin was its recent phase from 2001 to
2008.
Statistics
The second section of Towers Perrins profile will review some key statistics regarding
the firm.
Towers Perrin employs over 6,000 professionals.
Towers Perrin generates revenues of over $900 million.
Towers Perrin generates almost $145,000 in revenues per professional.
Businesses
The third section of Towers Perrins profile will outline its core businesses.
Towers Perrin has three businesses, including its HR Services, Reinsurance, and
Tillinghast.
Tower Perrin first business is its Human Resources Services.
Towers Perrins Human Resources Services provides global human resource consulting
and related services that help organizations effectively manage their investment in
people.
Towers Perrins Resources Services includes employee benefits,
compensation, communication, change management, employee research, and the
delivery of human resources services.
Towers Perrins second business is its Reinsurance Segment.
Towers Perrins Reinsurance Segment provides global reinsurance intermediary
services and consulting expertise that focuses on the creative blending of traditional and
nontraditional risk transfer vehicles. This service includes a reinsurance strategy &
program review, claims management & program administration, catastrophe exposure
management, contract negotiation & placement, and consulting in market security
issues.
Towers Perrins third business is Tillinghast.
Towers Perrins Tillinghast provides consulting and software solutions to insurance and
financial services companies and advises other organizations on risk financing and selfinsurance.
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400
401
The first phase in the development of Townsend & Schupp was its early phase.
Townsend & Schupp was founded as a life insurance industry consultant, it gathers and
analyzes financial information regarding the US and Canadian life insurance markets
and provides data, statistical analysis and research in a variety of formats ranging from
monthly reports, to quarterly and annual publications.
Middle Phase
The second phase in the development of Townsend & Schupp was its middle phase.
Recent Phase
The third phase in the development of Townsend & Schupp was its recent phase.
Statistics
The second section of Townsend & Schupps profile will review some key statistics
regarding the firm.
Businesses
The third section of Townsend & Schupps profile will outline its core businesses.
Townsend & Schupp has a number of businesses.
Organization & Ownership
The final section of Townsend & Schupps profile will address is organizational structure
& ownership.
Townsend & Schupp has a web site.
Townsend & Schupps management team includes Executive Fred Townsend.
Townsend & Schupp is privately owned.
T-Systems
T-Systems was founded.
History
The first section of T-Systems profile will explain the key historical events in the firms
development.
T-Systems was founded and has evolved through three phases, including its early
phase, middle phase, and recent phases.
Early Phase
The first phase in the development of T-Systems development was its early phase.
T-Systems was founded
Middle Phase
The second phase in the development of T-Systems development was its middle phase.
Recent Phase
402
The third phase in the development of T-Systems development was its recent phase.
Statistics
The second section of T-Systems profile will review some key statistics regarding the
firm.
Businesses
The third section of T-Systems profile will outline its core businesses.
T-Systems has a number of businesses.
Organization & Ownership
The final section of T-Systems profile will address is organizational structure &
ownership.
T-Systems has a web site.
T-Systems is led by its management.
T-Systems is privately owned.
Turning Point
The firm was founded in 1994 and is based in Clearwater, Florida. It provides recruiting
services to employers, candidates, and registered representatives. It is organized into
two business lines, executive search and registered representative placement. Mitch
Vigeveno is the CEO. The firms web site is www.tpirecruiters.net.
History
The first section of Turning Points profile will explain the key historical events in the
firms development.
Turning Point was founded in 1994 and has evolved through three phases, including its
early, middle, and recent phases.
Early Phase
The first phase in the development of Turning Points development was its early phase.
Turning Point was founded in 1994.
Middle Phase
The second phase in the development of Turning Points development was its middle
phase.
Turning Point joined Tiburon Strategic Advisors Consulting Fellows program in 2001.
Recent Phase
The third phase in the development of Turning Points development was its recent
phase.
403
Statistics
The second section of Turning Points profile will review some key statistics regarding
the firm.
Businesses
The third section of Turning Points profile will outline its core businesses.
Turning Points Value Proposition centers around the firms industry knowledge.
Turning Point is organized into two business lines, executive search & registered
representative placement.
Executive Search
Turning Points first business is executive search. it serves both employer and
candidate clients. The firm prefers to work with mid size companies. It places positions
range from advisors to CEOs. A client company places job order, committing the firm to
fill the position.
Turning Point provides recruiting services to employers, candidates, and registered
representatives. Specifically, details include:
Employers
Executive search
Ancillary services
Contract labor
Employer of record rate calculator
Hot candidates
Salary expert
Candidates
Candidate placement
Ancillary services
Career alerts
Employer of record
Knowledge base
Online job search
Resume posting
Salary expert
Registered Representatives
Assistance in switching firms/wirehouses
Assistance in becoming independent
Placement assistance as employee
Turning Points executive search business line is the firms profit generator. Specifically,
in executive search it collects one-third up front, one-third when the candidate is place,
and one-third at final agreement. The firms profit margin is 25%-35% of placed
candidates first year income. With registered representative recruiting the firm receives
an unspecified portion up front and an unspecified portion later on, as well as 4% to 6%
of placed representatives first year commissions. Turning Point executive search
404
creates committed business, while conversely its registered rep recruiting revenue is
contingent upon acquisition of high level reps.
Turning Points executive search business line has much higher fees than its registered
rep recruiting business line.
Turning Points Executive Search Business Line Has Much Higher
Turning Point definitely
Fees than its Registered Rep Recruiting Business Line
tailors its fee structure to each
engagement.
Turning Point Fees by Business Line
Turning
Points
Executive
search
uses
proprietary
technology & multiple databases
to identify candidates and build
its prospects list. Of note is that
Turning
Points
Sharkware
database has less than 50%
emails; Turning Points main
database
contains
phone
numbers; NF Communications
database has personal emails.
25% - 35%
4% - 6%
Not e:
A not her s ource said that Turning P oint tailors its f ee st ructure t o each engagement
Source: 2/22/05 Turning P oint Conv ers ation (V g
i eveno); 2/9/05 Turning Point Web Site; Tiburon Researc h & Analy sis;
When Candidate
Place d
33%
405
406
Turning Points employer of record service is top echelon which provides a number of
services, including financial services and acting as employer of record. Specifically,
details include:
Financial Services
Handles taxes, insurance, benefits, 401k, & payroll for placed candidates
Acting as Employer of Record
-Employer Pays Fee for Service
-Employer Dictates All Worker Activities
-Turning Points third ancillary service offered to employers in its executive search
business line is hot candidates, which is an online resource to provide employers self
search opportunities to find the best candidates for a specified position.
Turning Points fourth ancillary service offered to employers in its executive search
business line is salary expert, which is an online service to calculate salary for candidate
based on location and position filled.
Turning Points executive search business line offers six services to candidates. These
services are Career Alerts, Employer of Record, Job Searches, Knowledge Base,
Resume Posting, and Salary Expert.
Turning Points first service to candidates in its executive search business line is career
alerts whereby candidates can login to web site to view current career postings.
Turning Points second service offered to candidates in its executive search business
line is employer of record.
Turning Points employer of record service provides a number of services, including
financial services and acting as legal employer of record. Specifically, details include:
Financial Services
Firm handles payroll, taxes, insurance, benefits, and invoicing
Legal Employer of Record
Top Echelon firm acts as legal employer of record for placed candidates
Candidates Submit Timesheets to Firm
-Firm Collects Payment from Candidates Physical Employer
-Turning Points third service offered to candidates in its executive search business line is
job searches which provide links to job search database on web site.
407
Turning Points fourth service offered to candidates in its executive search business line
is its knowledge base where candidates can search the database for specific
information. Topics range from contracting to resume advice.
Turning Points fifth service offered to candidates in its executive search business line is
resume posting which allows candidates to login to web site and post resumes.
Turning Points sixth service offered to candidates in its executive search business line is
the salary expert which allows candidates to determine average compensation for similar
positions. The conversion program provided can determine salary values in different
locations as well.
Registered Representative Placement
Turning Points second business line is registered representative placement. This
serves brokers and dealers, and provides placement for both employers and registered
representatives, meaning that the rep can seek assistance as well as an employer
company. Placement is dictated by the firms ability to connect with high quality
registered representatives.
Turning Points Registered Representative Placement can be organized into three
services, including assistance in firm changes and becoming independent. Specifically,
details include:
Assistance in Firm Change
Moving to a new firm or wirehouse
Becoming Independent
Advice for transition to independence
Starting your own office
Placement Assistance
Help in obtaining employment at banks or other financial institutions
Turning Points Registered Representative Placement services has a variety of activities,
including assess information, search opportunities, and recommend situations.
Specifically, details include:
Assess Information
Assess information from the registered representative about current business
and plans to change
Search Opportunities
Search extensive universe of broker/dealers and individual branch office
opportunities
Recommend Situations
Recommend situations that fit individual needs
Research & Initial Conversations
Handle research and initial conversations
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409
payout of VA & VUL, broker/dealers with 95% payout on investment advisory services,
firms offering equity participation, broker/dealers which accommodate compliance
issues, firms specializing in stocks and bonds, broker/dealers that offer transition
funding, firms friendly to custodying assets at Schwab, Fidelity, TD Waterhouse, and
Fiserv, firms with lower ticket charges and fees, firms with syndicate offerings, IPOs,
and market making, as well as broker/dealers that are successful with large producer
groups.
Turning Point offers representatives tips on various broker/dealer questionnaire topics
including the tenure of broker/dealers in business:
Tenure of broker/dealer in business
Companys financial strength
States broker/dealer is registered
Whether or not broker/dealer is a RIA
Compliance history of broker/dealer
Company support if client sues or complains
Firms commitment to support advisors with independent offices
Mutual funds, insurance products, and programs on broker/dealer approved to
list
Complementary products and services offered to clients
Broker/dealers trading desks
Turning Point pays representatives five hundred dollars for each referral that is placed
with a broker/dealer.
Turning Point offers a comprehensive Guide To Moving Your Book, which is a workbook
style guide geared towards helping to evaluate personal motives for desire to make a
change. It includes personal checklists, profiles of successful account executive, self
business analysis. It lists possible options for change. It also examines how to choose
the right broker/dealer. It offers tips on making the move and offers set-up and monthly
expenses worksheets.
Turning Point creates monthly themed newsletters for employers and registered
representatives, including Dont Hire Without a Background Check. Specifically, details
include:
Employers
9/04 Dont Hire Without a Background Check
10/04 Want to Recruit, Hire, and Retain Better?: Know Your Great
Employees
11/04 Solving the Talent Retention Problem
12/04 More Than Money A Cautionary Tale of Poor Hiring
1/05 Hiring the Right Employees Requires Asking the Right Questions
andListening for the Right Answers
Registered Representatives
2/05 A New Type of Direct Marketing
2/05 Financial Planning Software: Is True Multi-Tasking on the Horizon?
1/05 Avoid Failed Phone Calls
12/04 So You Are Thinking of Making A Change
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411
Top Echelon
Worlds most successful placement network of independent recruiters
Tiburon Strategic Advisors
Provides strategy consulting, market research, & other related services to
brokerage, investment management, banking, & insurance markets
Turning Point displays links to partner companies, including Brannick Human Resources
Connection. Other partners include Broker Dealer Compliance, Gray Matter Strategies,
HR Corporate Solutions, International Performance Group, Margaret Martin &
Associates, National Banking & Financial Services Network, NF Communications and,
Tiburon Strategic Advisors.
Turning Point offers links to related organizations in six categories, including
associations, mutual funds, and news. Specifically, details include:
Association
Financial Planning Association
American Bankers Association
National Association of Personal Financial Advisors
National Association of Investment Professionals
National Association of Independent Broker/Dealers
National Association of Insurance & Financial Advisors
IMCA
Life Insurance Management Research Association
Financial Services Institute
Mutual Funds
Morningstar
Mutual Fund Investors Center
News
412
Services
Morningstar
Horsesmouth
Zacks
Hoovers
Bloomberg
Kiplinger Online
Bankrate.Com
FSOnline.Com
Trade Magazines
Financial Planning
Registered Rep
Investment News
Investment Advisor
Research
On Wall Street
Turning Point has written and/or been quoted in various industry articles. Specifically,
details include:
Turning Point Authored
Recruiting the Old Fashioned Way
Morningstar Advisor
How to Create Value in Your Business
Morningstar Advisor
Positioning Yourself Properly: Controlling Prospects Perceptions of You
Morningstar Advisor
Turning Point Quotes
A Few Good Recruits
Financial Planning
Brokers on the Bubble in Pru-Wachovia Deal
Investment News
The Recruiting Dance
Journal of Financial Planning
Turning Points web site is easily navigable and informative, with five sections, including
employers, candidates, registered reps, contact us, and about us.
Turning Points Going Independent web site is targeted at registered representatives and
is easily navigable. Sections of the web site include About Us, Services, Opportunities,
Resources, and Contact Us.
Turning Point has a web site devoted to registered representatives called
www.goingindependent.com, which contains separate turning point information for
registered representatives.
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414
The Urban Institute was founded in 1968 and has evolved through three phases,
including its early, middle, and recent phases.
The Urban Institute was founded in 1968 to provide independent nonpartisan analysis of
the problems facing Americas cities & residents.
Early Phase
This section explains the early phase of Urban Institute.
Middle Phase
This section explains the middle phase of Urban Institute.
Recent Phase
This section explains the recent phase of Urban Institute.
Statistics
The second section of Urban Institutes profile will review some key statistics regarding
the firm.
The Urban Institute works in 28 countries.
Businesses
The third section of Urban Institutes profile will outline its core businesses.
The Urban Institute has a number of businesses.
Organization & Ownership
The final section of Urban Institutes profile will address is organizational structure &
ownership.
The Urban Institutes web site is cluttered with six main sections and numerous subsections, including find research, issues, sectors, places, people, and about UI.
The Urban Institute is led by its president Robert Reischauer.
The Urban Institute is privately owned.
US Web
US Web was founded in 1995.
History
The first section of US Web profile will explain the key historical events in the firms
development.
US Web was founded in 1995 and has evolved through three phases, including its early
phase, middle phase, and recent phases.
Early Phase
The first phase in the development of US Web development was its early phase.
US Web was founded in 1995.
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416
Recent Phase
The third phase in the development of Warren Bennis was its recent phase.
Statistics
The second section of Warren Bennis profile will review some key statistics regarding
the firm.
Businesses
The third section of Warren Bennis profile will outline its core businesses.
Warren Bennis has a number of businesses.
Organization & Ownership
The final section of Warren Bennis profile will address is organizational structure &
ownership.
Warren Bennis has a web site.
Warren Bennis is led by Warren Bennis
Warren Bennis is privately owned.
WE Deming
WE Deming lived from 1900-1993. He is widely known as the original quality control
guru and is well known for his work in the rebuilding effort of Japan post World War II as
well as working with automaker Henry Ford. He wrote several books including The New
Economics for Industry, Government, & Education (1993) and Out of the Crisis (1986).
He also developed the 14 points for management. More can be found at the W.
Edwards Deming Institute web site at www.deming.org.
History
The first section of WE Demings profile will explain the key historical events in the firms
development.
WE Deming was born was founded and has evolved through three phases, including its
early, middle, and recent phases.
Early Phase
The first phase in the development of WE Deming was its early phase.
Middle Phase
The second phase in the development of WE Deming was its middle phase.
Recent Phase
The third phase in the development of WE Deming was its early phase.
Statistics
The second section of WE Demings profile will review some key statistics regarding the
firm.
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Businesses
The third section of WE Demings profile will outline its core businesses.
WE Deming has a number of businesses.
Organization & Ownership
The final section of WE Demings profile will address is organizational structure &
ownership.
WE Deming has a web site.
WE Deming is led by its management.
WE Deming is privately owned.
Weiss Group
Weiss Group was founded in 1971 and is based in Jupiter, FL. It is led by its Chairman
Martin Weiss. Its web site is www.weissgroupinc.com.
History
The first section of Weiss Groups profile will explain the key historical events in the
firms development.
Weiss Group was founded in 1971 and has evolved through three phases, including its
early phase, middle phase, and late phases.
Early Phase
The first phase in the development of Weiss Group was its early phase.
Weiss Group was founded in 1971 as a consulting service that assesses financial
stability of insurance companies, HMOs, banks, savings and loans, and securities
brokers.
Middle Phase
The second phase in the development of Weiss Group was its middle phase.
Recent Phase
The third phase in the development of Weiss Group was its recent phase.
Statistics
The second section of Weiss Groups profile will review some key statistics regarding the
firm.
Businesses
The third section of Weiss Groups profile will outline its core businesses.
Weiss Group has a number of businesses.
Organization & Ownership
The final section of Weiss Groups profile will address is organizational structure &
ownership.
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