Roadhard:

I left Jones 9 months ago after 15 years–there are two Jones offices in this farming commuity and I still get as many new accounts as I use to–because the people know me in town–it isn’t the brand name…I do believe it helps to have a brand name when you are new in this business–but if you are well known a brand name doesn’t help very much.  Most people open and stay with you because you are you–not because you say here at Jones, UBS, SB ect…we are the best at what we do.  That is the reason all the Indy’s go out of their own and the clients follow them…new people come to you because most of them were referred.

  Absolutely true words.  Usually anyone with money, when referring to their advisor, talks about them, not their firm.  Some of them don't even remember the name of the firm, albeit Merrill, UBS, indy, Jones, whatever.  To many clients, firm changes (when their advisor moves and they stay with them) are often irrelevant, as they trust their advisor.   Now, the people that DON'T have much money ALWAYS remember their firm, because they have usually been shuffled around between brokers at the same firm.  So all they know is the firm name, phone number and location - and sometimes the original person that set up the account.   It's a funny dynamic.