By Wendy Leung – Too often, advisors assume that all of the major wirehouses are the same and that moving from one to the next would be going from the proverbial frying pan into the fire. But, is that really the case?
By Deborah Aronson – Over the past several years, movement among advisors has risen to record levels and as a result, most firms have the onboarding and transition process down to a science. That said, a change in employment for a financial advisor is unlike a career move in any other industry—there’s no 2-week notice given to your employer and no exit interview to be had.
By Mindy Diamond – “I love being an advisor and have built a great practice. My business generates more than $3mm in annual fee based revenue and it affords me a lifestyle far better than I ever imagined. I have a top notch staff and wonderful clients with an aggregate $550mm in assets under management.” Perhaps change the stats but I’m betting that this sounds familiar to you- and what a wonderful position to be in.
By Mindy Diamond – It started as a trickle just after 2008 when as a whole wirehouse advisors became disenchanted with their firms and exceedingly mistrustful of the folks who ran them. Teams of advisors like The LLBH group, formerly of Merrill Lynch in Westport, CT and The Nick Bapis Group, formerly of Morgan Stanley, chose to forego the outsized transition checks being offered them from competitor organizations and go some version of independent with firms like Focus Financial Partners and HighTower Advisors, respectively.
By Mindy Diamond – As a firm that works with top of the food chain advisors, we have not seen a slowdown at all. The statistics representing total advisor moves may show that fewer advisors have made moves in 2014 vs. the same period of time last year, but make no mistake, the momentum is great.
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