According to a report issued by Cerulli Associates, advisor productivity, as measured by assets under management, grew year over year by 14.4 percent to $198 million per advisor, more than double the rates of advisors working in non-wirehouse firms.
A Cerulli researcher stated, "Wirehouses are concentrated on solving organic growth challenges, playing to their strengths, and providing advisors with the tools needed to capture and grow wealth." The Cerulli report said, "The national and regional brokerages are already overtaking the wirehouse channel in headcount share." Those brokerages are recruiting teams and providing a more advisor-focused culture. The report also stated that wirehouses are enhancing their deferred compensation plans to increase incentives for advisors to remain with those firms.
Financial Advisor Transitions consults advisors nationwide to explore employment transition options and to preserve and protect their practice in any transition that they make.
