In the TMR Distribution Outlook 2021,
39% of the advisors said that they were
independent contractors either affiliated
with a host agency or working on their own
(no affiliation). That figure has completely
flipped in just two years with nearly 70%
of advisors saying that they work as ICs.
The share of retail agencies has dropped
from 61% in 2020 to 32% at the end of
2023. This mix may likely shift towards
travel agencies as sales volumes keep
rising and businesses regain strength.
CHART 16
|
23
ADVISOR’S PROFILE
BUSINESS CLASSIFICATION, SHARE (%)
Retail travel agency with a
storefront location
Retail travel agency, non-storefront
location
Independent contractor working
with a host agency
IC/advisor working on your own
64%
4%
16%
16%