I'm entertaining idea of leaving a big wirehouse to join a well known RIA. Obviously both have their pros and cons. I intend to stay in the business another 25 years and am curious to hear what others here think the future of the wirehouse model will be in say 10 years. What will happen to the 300k solo practicioners there? What will happen to the 2-3million production teams? What will the RIA landscape look like? What will the mass-hiring practices of the wirehouses look like down the road?
I think the landscape will be billion dollar teams with specialists in a particular function like insurance, etc.
There is no place now for the $300K producer at the large wire house. An independent firm with access to both the traditional brokerage and RIA channels is attractive for those with the ability to run their own business…