Does the deal mark the end to the full-service independent investment banking model?

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CINF, which was started by independent insurance agents, has an agent-centered business model.

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Indeed, it seems something of a model board, with an independent chairman and a good mix of long-serving and new directors.

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Some of the independent consultants said the aggregator model, which is what Jaywalk provides, is more cost-effective and allows them to switch research providers more often and more easily.

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