Adviser recruitment on track for record-breaking year
More than 4,000 advisers and brokers switched firms during the first quarter, up 11% from the first quarter of 2020. RIAs and IDBs continue to set the pace.
May 3, 2021
More than 4,000 advisers and brokers switched firms in the first quarter of the year, putting 2021 on pace for record industry recruitment activity.
Moves of experienced advisers between firms were up 11% compared with the first quarter of 2020 and were higher than any other quarter going back to 2018.
The data, which come from the
InvestmentNewsAdvisers on the Move database, exclude transitions between affiliated firms and those that result from a merger or acquisition.