Included in that pool are 12 teams that each managed more than $1bn in client assets. Many industry experts say that in years past, the number of teams that size leaving in a year could be counted on one hand.
Reuters reports that some veteran advisers say they feel less tied to their firms after they were swallowed up by big banks and other Wall Street nameplates.
Other veteran brokers have left amid client concerns over negative headlines about big-bank parent companies, the winding down of merger-related retention contracts, dissatisfaction with changes at their firms and the lure of starting anew.
Because of their longtime client relationships, veteran brokers also say they are more confident in being able to bring their clients - and their assets - with them when they leave.
Hit the link below to access the complete Reuters article:
U.S. broker defections shift $86 billion in assets in 2012
Review finds ex-SEC watchdog may have had conflicts of interest
MOVES-JPMorgan, RBC Wealth Management, Carlyle, MSCI, Alliance Trust
image: © Dan4th Nicholas
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