Advisors are changing firms and models with near record frequency over recent years, leaving others to wonder:
- Why are advisors at big brokerage firms changing jerseys so often?
- Why are independent advisors making moves?
- Which firms are top in recruiting and which are losing?
- What are transition deals like and where are they trending?
- What are some of the key factors driving changes to competitive recruiting?
- What are some real-world examples of recent moves?
The reality is that finding the answers to these questions and others that advisors are asking can be a herculean task—because there is no single source of up-to-date information with context and analysis around what it all really means.
That’s when we realized that we were sitting on a goldmine of data—because we answer questions like this each and every day when asked by the advisors we work with.
So that’s why we created the Diamond Consultants Advisor Transition Report—the first of a bi-annual analysis of advisor movement.
We layered the raw data analysis (the quantitative) with our own interpretations and analysis (the qualitative), creating a unique perspective not available in any other single resource.
The result is a comprehensive, data-driven exploration of financial advisor movement over a specific timeframe—shedding light on the trends and patterns that we see both anecdotally in the work that we do and through the analysis of hard data.
As students of an ever-changing industry (like so many advisors we counsel), we were genuinely curious about what this data might reveal.
And it was astounding.
The trends we saw play out in the first half of 2022 not only inform today, but may well inform expectations for the second half of the year and beyond. And many of the conclusions we draw are evergreen or, at the very least, have some level of staying power.
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