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Even as the number of advisors jumping channels has slowed during the pandemic, it has not stopped independent channels from continuing to attract the most net new advisors, according to new data.
Advisor head count at the big firms continued to erode, and the expected flight to cash, zero interest rates and slowdown in economic activity cut into assets under management.
With so much uncertainty and negativity pervading our lives, it’s helpful to imagine a future where we witness positive effects of the crisis on the RIA industry.
In the early ’90s at the age of 17, advisor Kashif Ahmed and his family found themselves at the center of Iraq’s invasion of Kuwait by Saddam Hussein. Here, he shares his journey out of the country.
'That first night was just agony and screaming, because the body was under attack. But a virus is not going to take me down,' said Kashif Ahmed, a Boston-based financial advisor who contracted COVID-19.