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In the News

More Wirehouse Advisors Will Bolt Firms in 2014

Posted by Mindy Diamond

FUNDfire

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.

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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...

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