Summary: The number of large teams breaking away and starting their own independent advisory firms has been rising. Scott Highmark of Mosaic Family Wealth likes to compare this trend to the growth of the craft beer industry. Craft beers, like breakaways, have been around for years but recently, there's been a notable increase in their appeal. Why?
 The value generated by independence can be especially evident when advisers compete for significant new client accounts. Increasingly, traditional teams are facing large breakaways with forward-thinking advisers and leading-edge technology. Many clients, especially younger ones, are now choosing independent firms.”Bob Oros, executive vice president and head of the RIA segment, Fidelity Clearing & Custody at Fidelity Investments. |
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