Breakaway Broker Trend Alive And Well, TD Ameritrade Says

Friday, October 28, 2011 07:25
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Breakaway Broker Trend Alive And Well, TD Ameritrade Says

Tags: breakaway brokers

Contrary to speculation elsewhere, brokers are still leaving the wirehouse to join the independent advisory channel -- and TD Ameritrade is seeing record numbers of converts.

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A full 348 brokers have joined TDA so far this year, up 20% from last year and more than double what the custodian took in back in 2008.

 

Fidelity has seen the number of new breakaways decline while Schwab reports a 9% increase, so this is not limited to TDA.

 

So much for arguments that the "breakaway broker" is a myth.

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