This year, more than many others, many representatives of broker/dealers are reassessing their options when it comes to with whom, and how, they will affiliate. Partly due to the devastating markets of 2008, partly due to the uncertainty surrounding major independent B/Ds like AIG, partly due to the devastating blows to their reputations suffered by the wirehouses, nearly all independent broker/dealers are reporting record recruiting years.
That’s why this year’s ballot question asking voters which other broker/dealer they’d affiliate with if they had to move from their current affiliation is more telling than many years, though the “winners” this year are for the most part repeaters.
Here are the broker/dealers most often chosen by the 295 voters who answered that ballot question, expressed as a percentage of all those mentioned:
LPL Financial 28.8%
Commonwealth Financial 17.3%
Raymond James 8.5%
Cambridge Investment Research 7.1%