By Paul Golden
Wirehouse advisor mobility will increase significantly in 2014 as retention packages expire and the independent route becomes more attractive, according to a FundFire reader poll and expert interviews.
Roughly 63% of FundFire voters said wirehouse movement will rise this year compared to 2013, making it the poll’s most popular sentiment. The result was roughly split in half by respondents who expect a “significant increase” and those who predict just a “slight increase.”
Conversely, a mere 2% of voters anticipate a big decline in movement while 13% await a slight decrease. Rounding out the poll are the 21% who predict no change between 2013 and 2014.
The reader forecast follows some noteworthy advisor moves, including a team of former UBS advisors who moved $1 billion team to their new firm, IFM Capital Advisors; and Libby Cherrington’s and Michael Brotsky’s relocation of their $300 million practice from Morgan Stanley Wealth Management to an Advisor Group affiliate.
