Advisors look to independent firms

If you’re thinking of striking out on your own and becoming an independent advisor, you’re not alone. A recent survey by Charles Schwab of advisors at wirehouses, banks and independent broker/dealers found that nearly 60 percent of financial advisors say the idea appeals to them, and almost half say they would consider such a move. And most of them are pretty confident about their client relationships – 80 percent say their clients would follow them if they left their current firm.

Fallout from the recession could be one of the reasons advisors are looking around for other options. Over three-quarters of advisors surveyed have had to explain why their firm is still a good place to invest, and only 46 percent said their employers’ brand helped them find new clients or keep the ones they already had.