2016’s largest breakaway moves
The exodus to independence saw a moderate drop-off this year among top-tier advisers. The biggest teams to exit the traditional brokerage model managed a combined $13.3 billion in client assets, and most of them were below the billion-dollar mark. That figure was $18.5 billion in 2015, according to On Wall Street reporting.
Still, plenty of advisers are opting to open their own shops in search of greater autonomy and a work culture free from what they criticize as intense sales pressures at the traditional brokerage firms.
Firms with independent channels, such as Raymond James and Wells Fargo, as well as hybrid platforms like Dynasty were the top beneficiaries this year.
To see where the biggest breakaways went in 2016, and why they did it, click through our slideshow.