There is a movement happening in our industry and it offers community banks and credit unions a significant opportunity. More than one in four financial advisors at traditional wirehouses are considering leaving their firm, according to a survey by Cogent Research. And with those advisors go billions of dollars in investable assets.
Factors influencing this growing interest in greener pastures may range from frustration with internal conflicts, to compensation goals tied closely to sales of in-house investment products, to an increase in competition for experienced talent as older advisors begin to retire.
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