The growth of RIAs is exploding
and the past month has been proof of it.
Four mega wirehouse teams struck out on their own. Among the biggest recent breakaways, a Morgan Stanley advisor who managed
nearly $4 billion in clients assets started his own RIA to escape “conflict of interests” he believed were associated with the larger firm.
But the breakaway movement hasn't been the only beneficiary of migrating wirehouse talent. Advisors are also continuing to move
to regional firms as well for what they see as greater independence and flexibility. RBC
, for example, recruited six teams which managed more $1.4 billion in assets under management, according to company announcements.
Scroll through to see these and other recent hires.