May 6, 2019

Some might be interested in the Investment Executive Brokerage Report Card:

Not surprisingly, the strong growth in advisors’ businesses flowed through to their bottom lines: more than a fifth (20.8%) of Report Card respondents reported making over $1 million in annual compensation, up from 13.2% in last year’s survey.

Only 18.9% said they were earning less than $250,000 per year, down from 25% in last year’s survey. Only 2.4% said they make less than $100,000 per year (down from 3.8% in 2018).

brokeragereportcard_190506
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HIMIPref™ Preferred Indices
These values reflect the December 2008 revision of the HIMIPref™ Indices

Values are provisional and are finalized monthly
Index Mean
Current
Yield
(at bid)
Median
YTW
Median
Average
Trading
Value
Median
Mod Dur
(YTW)
Issues Day’s Perf. Index Value
Ratchet 0.00 % 0.00 % 0 0.00 0 -0.0273 % 2,075.2
FixedFloater 0.00 % 0.00 % 0 0.00 0 -0.0273 % 3,807.9
Floater 5.66 % 6.02 % 49,233 13.84 3 -0.0273 % 2,194.5
OpRet 0.00 % 0.00 % 0 0.00 0 -0.2433 % 3,286.0
SplitShare 4.69 % 4.93 % 80,941 4.28 7 -0.2433 % 3,924.2
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.2433 % 3,061.8
Perpetual-Premium 5.52 % 1.24 % 97,739 0.09 12 0.0230 % 2,954.8
Perpetual-Discount 5.43 % 5.49 % 76,537 14.62 20 -0.0440 % 3,097.4
FixedReset Disc 5.25 % 5.37 % 172,495 14.94 63 -0.2538 % 2,187.2
Deemed-Retractible 5.23 % 5.80 % 101,609 8.08 27 -0.1026 % 3,075.3
FloatingReset 3.95 % 4.32 % 52,424 2.63 4 0.3591 % 2,412.3
FixedReset Prem 5.11 % 3.71 % 261,988 2.14 21 -0.1129 % 2,586.6
FixedReset Bank Non 1.98 % 3.97 % 165,838 2.64 3 -0.0278 % 2,647.2
FixedReset Ins Non 5.02 % 6.81 % 96,793 8.21 22 -0.2195 % 2,244.3
Performance Highlights
Issue Index Change Notes
MFC.PR.F FixedReset Ins Non -2.00 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.21
Bid-YTW : 9.30 %
BIP.PR.D FixedReset Disc -1.95 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-06
Maturity Price : 22.23
Evaluated at bid price : 22.65
Bid-YTW : 5.91 %
IFC.PR.E Deemed-Retractible -1.88 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.50
Bid-YTW : 6.07 %
HSE.PR.E FixedReset Disc -1.84 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-06
Maturity Price : 20.27
Evaluated at bid price : 20.27
Bid-YTW : 6.41 %
TRP.PR.B FixedReset Disc -1.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-06
Maturity Price : 12.24
Evaluated at bid price : 12.24
Bid-YTW : 5.84 %
BAM.PF.A FixedReset Disc -1.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-06
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 5.74 %
BAM.PR.T FixedReset Disc -1.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-06
Maturity Price : 15.75
Evaluated at bid price : 15.75
Bid-YTW : 6.15 %
NA.PR.S FixedReset Disc -1.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-06
Maturity Price : 18.33
Evaluated at bid price : 18.33
Bid-YTW : 5.47 %
BAM.PR.X FixedReset Disc -1.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-06
Maturity Price : 14.06
Evaluated at bid price : 14.06
Bid-YTW : 5.88 %
MFC.PR.I FixedReset Ins Non -1.33 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.81
Bid-YTW : 6.74 %
HSE.PR.G FixedReset Disc -1.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-06
Maturity Price : 19.85
Evaluated at bid price : 19.85
Bid-YTW : 6.49 %
PWF.PR.A Floater -1.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-06
Maturity Price : 13.35
Evaluated at bid price : 13.35
Bid-YTW : 5.19 %
IAF.PR.B Deemed-Retractible 1.10 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.00
Bid-YTW : 6.24 %
RY.PR.Z FixedReset Disc 1.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-06
Maturity Price : 18.48
Evaluated at bid price : 18.48
Bid-YTW : 5.16 %
MFC.PR.Q FixedReset Ins Non 1.23 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.65
Bid-YTW : 6.82 %
PWF.PR.P FixedReset Disc 1.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-06
Maturity Price : 14.20
Evaluated at bid price : 14.20
Bid-YTW : 5.48 %
Volume Highlights
Issue Index Shares
Traded
Notes
CM.PR.R FixedReset Disc 57,417 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-06
Maturity Price : 22.29
Evaluated at bid price : 22.81
Bid-YTW : 5.33 %
TD.PF.I FixedReset Disc 54,100 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-06
Maturity Price : 22.39
Evaluated at bid price : 23.00
Bid-YTW : 4.97 %
BMO.PR.E FixedReset Disc 42,660 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-06
Maturity Price : 21.89
Evaluated at bid price : 22.34
Bid-YTW : 4.92 %
RY.PR.Z FixedReset Disc 32,769 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-06
Maturity Price : 18.48
Evaluated at bid price : 18.48
Bid-YTW : 5.16 %
TD.PF.E FixedReset Disc 30,552 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-06
Maturity Price : 21.27
Evaluated at bid price : 21.54
Bid-YTW : 5.11 %
TD.PF.D FixedReset Disc 27,300 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-06
Maturity Price : 20.90
Evaluated at bid price : 20.90
Bid-YTW : 5.20 %
There were 15 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
IFC.PR.E Deemed-Retractible Quote: 23.50 – 24.33
Spot Rate : 0.8300
Average : 0.6118

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.50
Bid-YTW : 6.07 %

EMA.PR.H FixedReset Disc Quote: 23.70 – 24.30
Spot Rate : 0.6000
Average : 0.4015

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-06
Maturity Price : 22.69
Evaluated at bid price : 23.70
Bid-YTW : 5.13 %

GWO.PR.H Deemed-Retractible Quote: 22.41 – 22.85
Spot Rate : 0.4400
Average : 0.2775

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.41
Bid-YTW : 6.29 %

NA.PR.S FixedReset Disc Quote: 18.33 – 18.79
Spot Rate : 0.4600
Average : 0.3066

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-06
Maturity Price : 18.33
Evaluated at bid price : 18.33
Bid-YTW : 5.47 %

SLF.PR.G FixedReset Ins Non Quote: 15.00 – 15.68
Spot Rate : 0.6800
Average : 0.5389

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 15.00
Bid-YTW : 8.80 %

TRP.PR.B FixedReset Disc Quote: 12.24 – 12.65
Spot Rate : 0.4100
Average : 0.2717

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-06
Maturity Price : 12.24
Evaluated at bid price : 12.24
Bid-YTW : 5.84 %

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