According to the latest research, over 9,600 experienced financial advisors switched firms in 2024, an average of 800 per month. As reported by FinancialPlanning, the moves signal broader shifts in the industry and highlight the growing power of advisors in today's competitive market.

One factor is money. The compensation packages can be staggering. For W-2 advisors, many firms now routinely offer 300 percent of annual revenue ("T-12"), sometimes exceeding 400 percent for high-performing teams. Independent brokerages, once more modest, now offer up to 100 percent of trailing 12-month production. Those deals persist even as regulatory pressures and thinning margins mount, according to FinancialPlanning.

Advisor transitions come with significant risks, however. While the number of firms in the Protocol for Broker Recruiting now exceeds 2,500 firms, legal exposure from former firms remains a real concern, particularly when advisors move quickly or without thorough planning. Even "Protocol moves" must be planned carefully by competent and experienced legal counsel. And "Non-Protocol moves" must have court litigation counsel at the ready to defend against any TRO (court injunction), which can be filed with little or no notice and derail if not permanently damage and advisor's career.

Financial Advisor Transitions consults advisors nationwide to explore employment transition options and to preserve and protect their practice in any transition that they make.