August 5, 2009, Featured Articles, Advisors/Planners/Reps

‘Breakaway Broker’ Is A Myth

By Kerry Pechter   Wed, Aug 05, 2009

Wirehouse reps still manage almost half of the assets in all retail advisory channels, according to Cerulli Associates' exhaustive annual study.

The exodus of advisors from wirehouses is real, but it's not of Biblical proportions, according to Boston-based Cerulli Associates, which has just released its annual sizing of the advisor marketplace, with data on assets under management and advisor headcounts by channel for retail advisors.

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