Fed up wirehouse advisors more eager to leave than ever, study says

Lisa Shidler | www.riabiz.com, February 2012

Summary: Three out of four wirehouse advisors would take action if a recruiter called them about the prospect of joining an RIA, according to a study released today by The Charles Schwab Corp. Of those surveyed, 67% of wirehouse advisors worry about job security and report that added responsibilities make it hard to meet clients’ needs. Moreover, 51% said they find the idea of becoming an RIA appealing. “

We are seeing a true evolution of the independence movement — advisors seeking independence are open to exploring a variety of business models, including joining or starting an independent broker-dealer, joining an established RIA firm, starting up an RIA or joining a corporate RIA of a broker-dealer firm.”

Steve Austin Fidelity

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