The challenge is not only finding the right people, it's how to make sure a company a person coming in from a nonfinancial service
industry into financial services industry particularly like insurance, how they fit in into the products, the distribution, the finance, the regulation.
One of the smallest distribution channels, RIAs and multifamily offices, controls only 4% of assets, about $266 billion, but Cerulli said they are "ever-increasingly [a] threat to all providers." Licensed RIAs offer "the most comprehensive, customized financial and nonfinancial service
models in the industry," the report stated.
Manufacturing activity was portrayed as ''steady to moderately improving'' across most of the country, while conditions in the nonfinancial service
sector generally strengthened somewhat.
However, the escalating rents in the Greenwich submarket prompted nonfinancial service
companies to seek out alternative locations for their office space needs, specifically within the Stamford and the Central submarkets.
70 28% (*)Based on a survey of 805 companies (+)Percentage of companies in that category Source: The Conference Board
''The truly critical part of the analysis is that for 1999, roughly 100 of the 220 industrial and nonfinancial service
companies we rate will be operating at or near their break-even points, even after undergoing drastic streamlining,'' Moody's said.
Activity among nonfinancial service
sectors improved overall, the reports indicated.
Among the numerous commercial transactions taxpayers desire to keep confidential are routine sales of inventory; licenses of intellectual property and technology-sharing agreements; employee secondments; severance agreements; agreements to settle commercial litigation and disputes; and nonfinancial service
agreements, including, for example, payroll, human resources, and data processing services.
Reports on activity in the nonfinancial services
sector were positive, with reporting Districts noting similar or improved activity from the last report."
Another key element was a willingness to partner with external providers such as FinTech startups, technology providers and nonfinancial services
firms that customers value.
Many Districts reported modest growth in nonfinancial services
. Manufacturing activity was mixed across Districts.