J.W. Cole Financial Inc.
J.W. Cole Financial Inc.
Clearing firm: Charles Schwab, Fidelity Clearing and Custody Solutions, National Financial Services LLC, TD Ameritrade
No. advisers: 512
AUM: $22,489,540,000
Year founded: 2002
Year end: Dec. 31
No. of retail offices: 280
Recruitment & Staffing
| 2020 | 2019 | 2018 | |
|---|---|---|---|
| No. of reps | 550 | 512 | 485 |
| No. of reps, male | 401 | 380 | 362 |
| No. of reps, female | 149 | 132 | 123 |
| No. of producing reps | 480 | 440 | 411 |
| No. of producing reps, male | 360 | 339 | 319 |
| No. of producing reps, female | 120 | 101 | 92 |
| No. of reps producing $100K-$499K /year | 334 | 311 | 285 |
| No. of reps producing $500K+ /year | 113 | 95 | 75 |
| No. of CFPs | 83 | 75 | 72 |
| No. of full-time employees | 69 | 67 | 66 |
| No. of fee-based advisers served | 427 | 372 | 326 |
| Average payout per rep, per year | $330,500 | $302,297 | $295,463 |
| Avg. annual production of top 20% reps | $912,500 | $875,612 | $850,435 |
| Total payout, per year | $132,550,500 | $111,350,850 | $102,219,999 |
| Cost of E&O insurance per rep, per year | 3,150 | 3,150 | 3,150 |
| Affiliation fees charged per rep, per year | 450 | 400 | 400 |
| Affiliation fee coverage | — | — | SIPC, Fidelity Bond, FINRA Assessment |
| $0-$249,999 | $250K-$499,999 | $500K-$749,999 | $750K-$999,999 | $1,000,000+ | |
|---|---|---|---|---|---|
| Mutual funds | 86%-90% | 91%-95% | 91%-95% | 91%-95% | 91%-95% |
| Insurance | 96%-100% | 96%-100% | 96%-100% | 96%-100% | 96%-100% |
| Variable annuities | 86%-90% | 91%-95% | 91%-95% | 91%-95% | 91%-95% |
| Limited parterships | 86%-90% | 91%-95% | 91%-95% | 91%-95% | 91%-95% |
| Securities | 86%-90% | 91%-95% | 91%-95% | 91%-95% | 91%-95% |
| Required minimum production | $150,000 | ||||
| 2020 | 2019 | 2018 | |
|---|---|---|---|
| Total revenues | $155,650,600 | $131,525,000 | $121,435,444 |
| Commission revenues | $84,567,800 | $81,483,171 | $80,719,650 |
| Securities revenues | $1,950,045 | $1,921,350 | $1,850,789 |
| Securities revenues: Stocks | $795,500 | $789,543 | $733,600 |
| Securities revenues: Bonds | $578,000 | $576,018 | $566,500 |
| Securities revenues: ETFs | $576,545 | $555,789 | $550,689 |
| Securities revenues: Other | 0 | 0 | 0 |
| Mutual fund revenues | $27,034,927 | $24,578,990 | $24,385,143 |
| Annuities revenues | $44,789,650 | $44,325,679 | $43,625,075 |
| Annuities revenues: Fixed | $22,560,899 | $22,456,800 | $21,505,000 |
| Annuities revenues: Variable | $22,228,751 | $21,868,879 | $22,120,075 |
| Annuities revenues: Other | 0 | 0 | 0 |
| Insurance revenue | $9,845,500 | $9,789,213 | $9,311,854 |
| Insurance revenues: Life | $9,454,340 | $9,334,789 | $8,886,890 |
| Insurance revenues: Disabilities | 0 | 0 | 0 |
| Insurance revenues: LTC | $391,160 | $454,424 | $424,964 |
| Insurance revenues: Other | 0 | 0 | 0 |
| Alternative revenues | $947,678 | $867,939 | $1,546,789 |
| Alternative revenues: Hedge funds | 0 | 0 | 0 |
| Alternative revenues: Managed futures | 0 | 0 | 0 |
| Alternative revenues: Private placements | $258,178 | $179,865 | $226,578 |
| Alternative revenues: REITs | $689,500 | $688,074 | $1,320,211 |
| Alternative revenues: Other | 0 | 0 | 0 |
| Other commission revenues | 0 | 0 | 0 |
| Fee revenues | $71,082,800 | $50,041,829 | $40,715,794 |
| Fee revenues: Rep-managed accounts | $35,621,800 | $23,790,512 | $19,657,600 |
| Fee revenues: Firm-managed accounts | 0 | 0 | 0 |
| Fee revenues: Outside-managed accounts | $32,246,000 | $23,605,427 | $19,815,794 |
| Fee revenues: Other | $3,215,000 | $2,645,890 | $1,242,400 |
| Total revenues: Other | 0 | 0 | 0 |
| 2020 | 2019 | 2018 | |
|---|---|---|---|
| Total account assets | $24,800,541,000 | $22,489,540,000 | $20,536,558,941 |
| Fee-based assets | $9,015,034,500 | $6,611,902,589 | $5,846,097,651 |
| Fee-based assets: Clearing firm | $2,990,312,000 | $2,123,678,901 | $2,056,907,091 |
| Fee-based assets: Advisory firm platforms | $2,249,079,000 | $1,830,347,800 | $1,600,067,000 |
| Fee-based assets: Third-party money managers | $3,775,643,500 | $2,657,875,888 | $2,189,123,560 |
| Fee-based assets: Other | 0 | 0 | 0 |
| Total account assets: Other | $15,785,506,500 | $15,877,637,411 | $14,690,461,290 |
| Average assets per rep | $45,091,893 | $43,924,883 | $42,343,420 |
| Social Media & Mobile | |||
| Allows advisers to use social media | Y | ||
| Social media sites allowed | Facebook | ||
| Dedicated mobile application for advisers? | N | ||
| Primary purpose of mobile application | — | ||
| Software Offered | |||
| Account aggregation software | Advent Custodial Data (Advent Software Inc.) Albridge Wealth Reporting (Albridge, an affiliate of Pershing) AllData Advisor (Morningstar) CashEdge (Fiserv) eMoney 360 (eMoney Advisor) Envestnet |
||
| Compliance software | Albridge Sales Practice Monitoring (an affiliate of Pershing) erado (erado) Protegent Surveillance (SunGard Data Systems Inc.) RegEd Smarsh |
||
| CRM | Act! (Swiftpage Act) Act4Advisors (Allied Financial Software Inc.) Advisor Assistant (Client Marketing Systems Inc.) Ebix CRM Smartoffice (Ebix) Goldmine (FrontRange Solutions USA Inc.) Redtail CRM (Redtail Technology) Salentica (SS&C Technologies) Salesforce CRM (Salesforce.com) SmartOffice (Ebix) |
||
| Document management | Artisan Software | ||
| Financial planning | eMoney360 (eMoney Advisor) Finance Logix (Envestnet) MoneyGuidePro (PIEtech Inc.) Morningstar Advisor Workstation (Morningstar Inc.) NaviPro Planning Suite (Advicent, formerly Zywave) Thomson One Wealth Management (Thomson Reuters) |
||
| Portfolio management | Albridge Wealth Reporting (Albridge, and affiliate of Pershing) Black Diamond (Advent Software Inc.) Envestnet (Envestnet) FolioDynamix Morningstar Office (Morningstar Inc.) Morningstar Principia CAMS (Morningstar Inc.) |
||
| Portfolio rebalancing | Advisor Rebalancing (Envestnet/Tamarac) Fidelity Wealth Central (Fidelity Institutional Wealth Services) |
||
| Robo-advice | |||
| Offers robo-advisory platform? | Y | ||
| If not, when plans to offer a robo-platform | — | ||
| Robo-advice services offered | — | ||
| How robo-platform developed | By a third-party developer | ||
| Charge for robo-advisory services? | Y | ||
- Notes
- N/A = Not available
- N/D = Not disclosed
- — = Information not available or not disclosed
All 2011-2016 recruitment and staffing data is as of Dec. 31 in the calendar year displayed. Prior year recruitment and staffing data is as of Sept. 30. All financial figures are for firms' year end, unless noted.
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