Investment in sales, adviser education and technology is supporting the firm's expansion across structured products and other investment solutions, with registered investment advisers a key growth opportunity.
InspereX marketed 4,152 structured products worth US$8.3 billion in 2025, representing a 4.23% market share of the US retail structured products market, according to SRP data. The firm was the largest non-bank distribution network for structured products, ahead of Raymond James, which marketed 2,185 products worth US$6.4 billion, and First Trust Portfolios, with 2,285 products worth US$2.2 billion.
We’re building a comprehensive investment platform, giving advisors access to a broad range of solutions across asset classes - Scott Mitchell
The performance comes as the US structured products market continues to attract interest from financial advisers looking to incorporate defined outcomes, income generation and downside protection into client portfolios.
For InspereX, the focus has been on expanding its sales organisation, strengthening client relationships and improving adviser access to investment solutions, according to Scott Mitchell, the firm's CEO.
“Our performance has been driven by strategic investments in expanding our sales organization, deepening client relationships, and advancing advisor education,” Mitchell said.
The InspereX team at the SRP Americas 2026 Awards in Scottsdale, Arizona on 23 September.
As structured products become a more established part of adviser portfolios, the firm is seeing greater interest in their use beyond individual trades, with conversations increasingly centred on portfolio construction and client objectives.
“Advisors are becoming increasingly familiar with structured products and are looking beyond individual opportunities to broader allocation decisions and portfolio objectives,” Mitchell said, adding that advisers are increasingly considering how structured products can be used alongside other holdings to manage risk, generate income and develop more customised solutions for clients.
Building a broader distribution platform
InspereX has pursued a broader distribution strategy through a series of partnerships, acquisitions and investments in its sales capabilities, with the aim of providing advisers with access to a wider range of investment solutions.
Recent developments include the acquisition of Financial Northeastern Securities, which strengthens the firm's distribution capabilities in certificates of deposit (CDs) and credit union share certificates, and its partnership with AuguStar Retirement to enter the annuity market.
The firm has also expanded its registered investment adviser (RIA) and private markets businesses, while developing its technology offering through Aria, its platform designed for RIAs.
“We’re building a comprehensive investment platform, giving advisors access to a broad range of solutions across asset classes, product structures and client objectives,” Mitchell said.
Other initiatives include a strategic distribution partnership with KraneShares ETFs, collaborations with SRP – Derivia Intelligence, Luma Financial Technologies and SUBSCRIBE on Aria, and an expansion of fixed income trading capabilities through Fi-Tek.
“These initiatives evidence the execution of our long-term strategic goals of providing best-in-class, diversified solutions to the wealth market, including RIAs, which is a fast-growing channel for the firm,” he said.
The expansion reflects an effort to broaden the firm's reach beyond its established structured products distribution business and give advisers access to investment solutions across different asset classes and wrappers.
Demand for protection and income
The expansion into annuities reflects what Mitchell sees as an opportunity to extend outcome-oriented investment strategies beyond traditional structured notes.
He pointed to the growing number of Americans reaching retirement age and the need for investors to balance market participation with downside protection and income requirements.
“More Americans are turning 65 today than at any time in history,” Mitchell said, adding that investors who had benefited from structured investments over the past two decades were approaching retirement as markets reached new highs.
“Simultaneously, innovation is continuing to drive our industry forward, and these solutions are now proliferating beyond traditional structured notes and into various investment wrappers, including ETFs and annuities,” he said.
InspereX is taking what Mitchell described as a wrapper-agnostic approach, providing advisers with access to solutions from different providers across asset classes and product structures.
The strategy is intended to give advisers greater choice as they seek to address different client requirements, including income generation, capital protection and participation in market gains.
Technology and the RIA opportunity
Technology is another part of the firm's expansion strategy, with Aria bringing structured products, fixed income and alternative investments together in a single platform for RIAs.
“With Aria, we've brought together structured products, fixed income, and alternative investments on one platform, making it easier for advisors to discover, evaluate, and implement solutions that were historically fragmented across multiple providers and systems,” Mitchell said.
The objective is to streamline access to investment products and help advisers incorporate them into their workflows, rather than relying on separate providers and systems.
Mitchell sees further scope to expand structured products distribution among RIAs over the next 12 months, supported by adviser education, technology and easier access to products.
“Structured product adoption among RIAs is still fairly low, but growing rapidly,” he said.
He added that demand for differentiated portfolio solutions could support further adoption, while the development of structured products in exchange-traded funds, separately managed accounts and interval funds could contribute to growth across the market.
“The goal is not just greater efficiency, but better outcomes by giving advisors access to a more comprehensive toolkit and a streamlined workflow,” Mitchell said.
| InspereX was named Best Broker Dealer at the SRP Americas 2026 Awards. Click here to view the full list of winners. |