Nov 4
BrokerHunter Weekly Update 11/2/2021
November 2nd, 2021
Trendspotter: Wirehouse Rep Decline Shows No Signs of Stopping
by Jeff Berman
What You Need to Know
- Wirehouse headcount keeps falling, while reasons for the decline keep growing.
- It's easier than ever to start an independent RIA, according to industry experts.
- The cachet of big-name wirehouse firms is not what it used to be, especially among younger investors.
The Trend
The number of brokers and advisors at the four wirehouses — Bank of America Merrill Lynch, Morgan Stanley, UBS and Wells Fargo — has been declining for several years and is expected to continue dropping for the foreseeable future.
Click here to read the full article from ThinkAdvisor!
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