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Windsor, Conn., and New York, N.Y.; Nov. 13, 2012 — The economics of financial advisory distribution face numerous challenges, but pockets of opportunity remain, according to a major new study of experienced financial advisors, released today by LIMRA and McKinsey & Company.

"The current economic environment is generating strong headwinds for financial advisory sales forces," said Prashant Gandhi of McKinsey, a leader of the team that conducted the study. "Our study provides new insights into the factors that drive advisor productivity and helps organizations better target their services for advisors."

"Shrinking distribution and increasing distribution costs have been significant challenges to insurers' ability to reach their targeted markets," said Patrick Leary of LIMRA, leader of the LIMRA team that conducted the study. "This study reveals the issues most important to advisors and offers approaches to improve productivity and ways in which they can best support advisors to achieve their strategic goals."

The LIMRA/McKinsey study provides critical insights across a number of dimensions that impact the success of advisory sales forces:







The study, conducted in the spring and summer of 2012, surveyed nearly 2,000 experienced financial advisors (with three or more years of tenure) across multiple distribution channels, including insurance companies, broker-dealers, banks and RIAs. The results of the study will help financial services companies provide the products, services and support that will maximize advisor productivity and strengthen relationships with their most productive advisors.

Catherine Theroux, LIMRA, (860) 285-7787,
Allison Cooke Kellogg, McKinsey, (212)351-0746,

LIMRA, a worldwide research, consulting and professional development organization, is the trusted source of industry knowledge, helping more than 850 insurance and financial services companies in 73 countries increase their marketing and distribution effectiveness. Visit LIMRA at

About McKinsey & Co.
McKinsey & Company is an international management consulting firm that helps leading corporations and organizations make distinctive, lasting and substantial improvements in their performance. With over 7,500 consultants deployed from some 90 offices in nearly 50 countries, McKinsey advises companies on strategic, operations, organizational and technological issues. In addition, the firm helps a diverse range of government institutions, public administrations and non-profit organizations with their management challenges.

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