Annual TPM Report

The essential compendium of information needed to monitor the broker dealers that support the investment services business in more than 2,000 banks and credit unions.

2021–2022 Annual TPM Report (May 2022)

The Kehrer Group Annual TPM Survey has tracked the sales and revenue mix, sales force headcount, financial institution client base, and assets under administration of the largest third party broker dealers since 2006.


The 2021-2022 TPM Report is available free of charge to all financial institutions that partner with a 3rd party broker dealer.  The fee for other banks, and product and service providers, is $2,500.

2022–2023 Annual TPM Report

Coming April 2023

This report includes:
  • Commentary on the trends in the data:
    • Year-over-year changes in:
      • Revenue
      • Financial Advisor headcount
      • Banks and credit union partners
    • Firm-by-firm rankings in:
      • Advisor productivity
      • Assets under administration per advisor
      • Revenue growth
      • Asset growth
      • Market share of revenue
      • Market share of assets under administration
      • Market share of financial institutions
      • Market share of advisors in financial institutions
  • Firm-by-firm information in spreadsheet format:
    • Investment product mix
    • Total revenue, including the share contributed by advisory business, life insurance sales, and general securities transactions
    • The scope of the firm’s operations, including the size of its sales force, number and size of partner institutions, and assets under administration
    • Trends in scope of each firm’s operations year-by-year since 2015


Questions? Looking for a prior year’s study? Contact 

2021-2022 Annual TPM Report


If you find the Annual TPM Report useful, check out our available firm-specific due diligence reports providing a third party assessment of your TPM, which are suitable for use with regulators.

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We treat the firms and individuals who provide us data as true partners, keeping the data they provide confidential, and delivering analyses that are timely and actionable in exchange for their participation in our research.

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