This may turn out to be a banner year for advisor entrepreneurial opportunity. When things are in motion, challenges emerge which need to be overcome. Such times present opportunity—often of the unprecedented variety. The dimming of the big name brand is causing more advisors to think about starting their own businesses.
The huge percentages advisors must pay large firms do not seem to be offering the returns of the past. Brand recognition has lost its advantage as investors increasingly become disillusioned with the services of big financial institutions. This is more fallout
from the 2008 crisis along with the lack of trust which has pervaded investors from far reaching and highly publicized fraudulent investment schemes.
Attorney Brian Hamburger of MarketCounsel says more advisors are thinking of leaving despite firms’ new incentives to stay.
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