More Financial Advisors Are Breaking Away
February 22, 2016 by Cyril Tuohy
More financial advisor teams broke away from their employer “mother ship” in 2015. Last year saw 413 financial advisor teams break away, an 11 percent increase from the previous year. Those breakaway teams brought with them average assets under management of $344 million, according to the most recent research.
While average assets under management by breakaway teams have remained consistent for the past two or three years, total assets for all financial advisor teams changing firms were $142 billion last year. Researchers said this represented an increase of from $128 billion in 2014.
The 413 financial advisor teams that moved in 2015 represent an estimated 2,000 individual advisors. Breakaway broker teams, on average, consist of three to five individual advisors, said Chip Roame, managing director of Tiburon Strategic Advisors in Tiburon, Calif. Click HERE to view article
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