• Home: Leading Financial Advisor Recruiting Firm
  • About Us
    • Meet the Team
    • Testimonials
    • Case Studies
    • Representative Deals
  • Services
    • For Financial Advisors
    • For Independent Business Owners
  • FAQs
  • Articles
  • Podcast
    • Industry Update
    • Independence 101 Series
  • In the News
  • Tools & Resources
    • FAQs for Merrill Advisors
    • FAQs for UBS Advisors
  • Contact Us
  • Subscribe for Updates

Questions? Call us: 908-879-1002

Contact us...
Diamond Consultants: Financial Advisor Recruiting FirmDiamond Consultants: Financial Advisor Recruiting Firm
  • Home
  • About
    • Meet the Team
      • Mindy Diamond
      • Louis Diamond
      • Howard Diamond
      • Jason Diamond
      • Barbara Herman
      • Deborah Aronson
      • Wendy Leung
      • Cathy Nichols
      • Debbie Wallen
      • Allison Brunwasser
      • Joshua Tomolak
      • Shelley Muzio
      • Caryl Felicetta
      • Donna Riopel
    • Testimonials
    • Case Studies
    • Representative Deals
  • Services
    • For Financial Advisors
    • For Independent Business Owners
      • Sell-Side M&A Advisory
      • Consulting
  • FAQs
  • Articles
    • Subscribe for Updates
  • Podcast
    • Industry Update
    • Independence 101 Series
    • Subscribe for Updates
  • In the News
    • Moves in the News
  • Tools & Resources
    • FAQs for UBS Advisors
    • FAQs for Merrill Advisors
    • Other Tools For Advisors
    • Subscribe to e-Newsletter

In the News

Peeking Over the Fence

Posted by Mindy Diamond

WealthManagement-com

By Mindy Diamond

Some of the wirehouses’ most-coveted advisors have caught the industry’s attention by making the leap to independence over the last few years, causing many to question the wirehouse model. After all, RIAs are expected to grow faster than wirehouse advisors this year, increasing their client base by 12 percent versus 7 percent for wirehouse FAs, according to Aite Group. Last year, RIA firms’ assets grew by 18 percent, versus wirehouse firms by 8.2 percent.

But are the wirehouses really withering, as independent advocates say they are? Wirehouses still have an impressive 37 percent of asset market share, and most advisors who move out of a wirehouse stay within the channel and grow as fast, if not faster, than their independent counterparts.

We’ve seen advisors break away from wirehouses and experience explosive growth as independents because they are no longer limited in terms of the products they can access, and the marketing they can do. But we’ve also watched advisors leave the independent space for a wirehouse, where they grow faster due to the “all-in-one-place” ease of doing business and access to more robust support. All of these advisors who moved had the end goal of superior growth but had challenges and frustrations limiting them.

The key question that advisors need to answer for themselves is not, “Where will I grow faster?” but rather, “What impact are my frustrations having on my ability to serve my clients and grow my business?”

Read more…

 

 

You may also be interested in...

Share
0

About Mindy Diamond

CEO – By counseling advisors on how to ask the right questions and “dig deep”, she helps them look at all of the opportunities available to find the one that allows them to reach their full potential. That is, to best serve their clients and live a life that is in sync with their own beliefs and values. Learn more...

    Recent News & Articles

    • Should FAs Be Tested for Cognitive Decline?
    • The Path to Independence: 6 Key Elements to Consider Before Starting Your Journey
    • UBS Comp Changes Make It Harder to Battle Asset Outflows–Analysis
    • How Cresset Became a $27 Billion Wealth Manager in Under Five Years by Recruiting Top Private Bankers and Aggressive M&A
    • Edward Jones Opens Multi-FA Office in Seattle
    See. Here. Now.
    We're available to answer your questions. Contact us

    Connect with us

    Search

    © 2022 · Diamond Financial Consultants, LLC t/a Diamond Consultants. All rights reserved.*

    • Leading Financial Advisor Recruiting Firm:
    • About
    • Services
    • FAQs
    • Articles
    • Podcast
    • News/Media
    • Tools/Resources
    • Contact
    • Our Locations
    • Privacy Policy
    • Site Map