Former brokers say breaking away to be RIA went better than they feared
July 2, 2019 | Jeff Benjamin | Investment News
An appetite for control, independence and an opportunity to build equity in a sustainable business continue to fuel the migration by wirehouse brokers toward the independent registered investment adviser ranks.
A new report from TD Ameritrade Institutional, which gathered data from current and former brokerage reps, illustrates a generally positive attitude toward the RIA channel and signals a continuation of the migration trend.
The findings from the 2019 Benchmarking and Independence report showed that 44% of brokers surveyed said the likelihood of them leaving the brokerage channel is greater now than it was a year ago, and 46% said the likelihood of them leaving is greater than it was at the end of 2018.
