Last year was a good time for advisers looking to moving firms. A record-setting stock market combined with competition from firms across all channels created high demand for advisers. On the flip side, thousands of older advisers closing in on retirement, combined with continued slow progress of rookies entering the business, supply was low in this labor market.

Result? These trends parlayed into generous offers for advisers, particularly those with transferable books of business. Indeed, top advisers saw offers as high as 150% of trailing-12 in up-front packages. I expect the supply-demand mismatch to continue, and even grow, this year to create an even better market for FAs looking to make a change, and even more difficult for firms to find the producers they’re looking for.

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