After firing 75+ of their lowest producers and some individual movement here and there, Citi is down to about 500 FAs give or take a few. Although some have already left here and there over the last 3 weeks, the bulk of the flow of FAs out the door is about to accelerate. It's been a month+ since Citi shocked the troops with news of their new platform, team concept and compensation plan. Most smart FAs are well into the due dilligence process and offers are happening. Moving sticky bank clients is always challenging, but those I'm hearing from believe it'll be much easier now vs. later once they've integrated themselves into new teams in 2010. Watch this Friday 11/20 and Wed next week right before Thanksgiving. Movement on those 2 key days will start the flow out that will continue up through 12/18 when FINRA closes for the Holidays. Where are Citi FAs going? The masses are moving in 3 directions. Wires like Merrill and Wells Fargo Advisors are aggressively pursuing the quintile 1 & 2 producers. Regionals like Stifel Nicolaus are also taking advantage of Citi's blunder. Wells Fargo Bank and PNC are by far the top destinations in the bank channel although lower producers are finding some love at local state and regional banks. Independents like Raymond James and others are also seeing some independent minded top producers heading in their direction. Have more intel or an opinion to share? My bet is 25% are gone by the Holidays. Another 25% will stall and delay into Q1 and ultimately leave once the harsh realities of the brave new world at Citi become clear! I'm being very conservative, but my hunch is those who lack the confidence to make the move now will get bogged down in their new 'teams' and move out of desperation later in 2010.