By The Numbers: The State of IndependenceBy The Numbers: The State of Independence

Despite what was billed by some as a perfect storm for IBD recruiting in 2009, total headcount in the channel rose less than 1 percent. It's still the biggest channel in in the business by number of advisors, of course, while the wirehouse firms still dominate hands down when it comes to assets. That is expected to remain the case through 2012, even as the wirehouses lose assets to bank broker/dealers, IBDs and RIAs. But by 2012, IBDs could take second place.