Schwab Survey Shows Many FAs at Big Firms Disgruntled (Surprise!)

A Schwab survey, released this morning, shows 59 percent of financial advisors at major full-service firms like the idea of going independent.

Obviously, the dramatic upheaval that changed the landscape of Wall Street is having some negative effect on advisors at major firms. A Schwab survey, released this morning, of 200 FAs at 15 "major full-service firms," says that 59 percent of the respondents find "the idea of being an independent investment advisor [appealing]." More than half (56 percent) said they would rather join an existing RIA than start one. Over three quarters (76 percent) have had to explain why their firm is still a good place to invest. For more go to VonAldo.com, the blog of Registered Rep. editor-in-Chief David A. Geracioti.

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