Ten Reasons Why Advisors Sell Their Firms | WealthManagement by Megan Leonhardt


The volume of dealmaking in the wealth management industry is grossly understated, Dan Seivert, CEO and founder of ECHELON Partners, told advisors earlier this week at Pershing Advisor Solution’s regional conference. His firm estimates between 3,000 and 9,000 people are breaking away and joining other firms, compared to the 700 to 800 breakaway deals reported in the media. Everyone thinks that breaking away is just a wirehouse phenomenon, but it's happening in all the different channels. “RIAs are going to be increasingly experiencing their own breakaway phenomenon,” Seivert says.


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