When a firm is acquired, advisors are left wondering what’s next for themselves and for their clients.
I’m betting that the chorus of “Should I Stay or Should I Go,” the 1982 song by The Clash, has come to mind for every Barclays-affiliated advisor over the past several months. When Stifel Financial announced its intent to acquire Barclays’ 180+ advisor wealth management unit, the news sent shockwaves throughout the advisor world.
But it’s just the latest shift in an ever-changing financial services landscape, which has been busy with dealmaking in recent years. Whether with Stifel’s purchase of Sterne Agee earlier this year, Raymond James’ acquisition of Morgan Keegan in 2012 or Bank of America’s takeover of Merrill Lynch in 2008, financial advisors working for the target firms are typically faced with a great deal of uncertainty.
