Although a Record Year for FA Movement, Wirehouse FAs Switching B/Ds Slowed in Second Half

The number of wirehouse advisors switching broker/dealers has been in steep decline since June. In November, just 177 advisors in the wirehouse channel switched firms, the smallest monthly number all year, according to Discovery Database. Of those advisors, 42 percent remained in the wirehouse channel. About 19 percent jumped to institutional firms while the regional and independent b/d channels took in 13 percent each.

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