When it comes to which business model--a corporate owned advisory firm or a partnership--is most appealing to investors and which to advisors, it's clear that most advisors would prefer to build a lasting, renewable, and stable business that grows slowly and steadily and produces income over time. With this in mind, I seriously doubt that advisors would have voted for investing 300% of their firm's capital in mortgage-backed securities if they had a vote.
Imagine instead a financial instrument that produces a steady stream of income each year and has a steady growth rate (even if not a very high one)--almost like an old-fashioned dividend-paying stock. This is essentially the kind of practice most mature advisors would have. Most investors, though, would probably look for a faster rate of growth and more immediate returns.