Gyrating markets may convince some some advisors that it’s better to stick to brand names now rather than going independent. Advisors who were not strongly committed to going independent may feel that anxious clients would prefer to entrust their assets to advisors at more well-known wirehouses and regional firms. Also, the upfront cash that wirehouses and regionals pay advisors to join could help those advisors more easily navigate a tense period in the market. I’m starting to see this trend with some advisors I’m currently working with.
Here’s an article that I wrote on this topic during another tumultuous period back in 2011.
ThinkAdvisor October 5, 2011
Photo: Elizabeth Buie