More Brokers and Advisers Switching Firms

The Protocol and other forces have caused and increase in the number of brokers and advisers switching firms.

Nearly twice as many brokers (9%) are considering switching to another firm in 2008, versus 5% who did so in 2007. Of those considering moving, two-thirds of them want to change the type of firm that they work for — better pay, more independence and freedom, and change in direction. As a result, the largest percentage wants to move to independent broker-dealers, regional firms and RIAs.

SNSFE attorneys assist brokers and advisers in the transition process.

Source: Journal of Financial Planning, April, 2008