Fewer Advisors Actually Make The Move To Independence Than Previously Thought Hot

 

Where this report differs is in the percentage of advisors who actually do move. Only 10% seem willing to take the risk, partly because of financial considerations. With wirehouses increasing upfront bonus offers to attract high quality advisors, the considerations involved in becoming an entrepreneur become more weighty. Timing can have a lot to do with the decision. After looking at what’s involved, becoming an entrepreneur sometimes loses its initial attraction.

 

This is probably a good thing. It means that advisors who do make the move are probably more dedicated to making it work and will be more successful. The 10% number reflected also may simply indicate the trend is early and that numbers will increase as more high profile teams and advisors build successful businesses on their own.