Are the wirehouses really withering, as advocates for independence claim? For an advisor, the question should not be which side of the fence is better, but rather what is the best environment for my proclivities and skills and where can I best serve my clients?
FINRA is contemplating a rule that would require brokers to disclose any incentives they receive to jump to another firm. It’s likely to pass and that will change how recruitment deals are structured in the future.
In this interview, Michelle discusses her decision to leave the wirehouse world 6 years ago (she was a “breakaway broker” long before the term was even coined), her partnership with her mother, and her vision for Source Financial Advisors, the specialty boutique wealth management firm she launched several months ago.