The attraction of the independent business model for financial advisors is undeniable. Independence offers financial, operational, and lifestyle benefits that – even if an advisor is not ready to make a move – certainly has them thinking about it
When financial services firms and their advisors talk about succession planning, they often present a very buttoned-up scenario.
It was a snowy Sunday, January 13th, morning in the Northeast, around 1AM when a LinkedIn post indicated the Schultz team, a Wells Fargo Private Client Group team based in Berwyn PA, was the “first to be ‘permitted’ to transition to the Wells RIA Pilot Program. This struck an odd cord with industry insiders. Why was a news-worthy move of this magnitude communicated during the wee hours of a Sunday via an advisor’s LinkedIn profile update and post and not handled by the Wells Fargo public relations team? Sunday came and went. Monday morning came and went. It wasn’t until Monday afternoon when the story became officially public with the publication of an AdvisorHub article.
UBS recruited a team from Morgan Stanley that managed approximately $378 million in client assets, a spokesman confirmed.
In 2015, more advisors than ever are going independent.
A report from the Aite Group shows that independent houses have grown 110%, as opposed
