The eight leading brokerage firms saw only an 8 percent growth in organic revenue in the fourth quarter of 2003, according to a year-end survey by WFG Capital Advisors, an insurance industry investment banking firm.
Organic growth trended further downward in each quarter of 2003, according WFG Managing Principal Steven Wevodau, from 13.9 percent in the first quarter down to the fourth quarter’s 8 percent.
“This presents some interesting perspectives on the overall direction of the market for 2004 and whether the leading firms will more aggressively seek acquisitions to supplement growth,” Wevodau said in a statement.
The analysis includes the international brokerage market, according to Rob Lieblein, another managing principal of WFG.
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