Financial Services Industry
Industry: Email Alert RSS FeedMore advisers jumping into RIA channel; Perils of entrepreneurship said to be among factors in shift to established firms.(News)
Investment News, May, 2006
Byline: Brooke Southall SAN FRANCISCO - The quality and number of brokers being lured into the registered investment adviser channel shot up in 2005, and it is poised to double again in 2006, according to three of the largest asset custodians. Though many factors are driving this trend, the emergence of the opportunity for W-2-filing brokers at banks or wirehouses to jump ship without leaping to entrepreneurship is most noteworthy, according to a study released last week.
Moss Adams LLP of Seattle produced the study, "Recruiting Advisors Transitioning to Independence,'' for Schwab Institutional of San Francisco. Whereas five years ago, more than 90% of breakaway brokers whose assets landed at Schwab Institutional started their own RIA...
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