The bank channel, long regarded as a minor league to the glitzier and higher-paying wirehouses and RIAs, is on the verge of taking a major-league step ahead.

While banks may never attract as many high-net-worth clients as the other channels, at least one big obstacle to the big-time—a lack of succession planning—is beginning to fall. Traditionally, a bank advisor’s most lucrative retirement option would be to break away and go independent several years before she wanted to retire and, eventually, sell off her book. To be sure, that’s still the way many approach the issue. See our Careers story by contributor Rick Rummage for tips on how to manage that.

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