The CEO of HighTower "simplified the playbook" at the firm—in January 2018, the firm owned 23% of the revenue, leaving 77% at risk of attrition. Now, it owns 91%.
BMO advisors put clients into proprietary mutual funds to boost their own revenue without telling clients about their own financial gain, according to SEC claims.
The number of advisors that will leave the wirehouses and start their own RIA is much smaller than you think, says PFI Advisors.