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Why the Number of BDs Could Drop 20% in 5 Years
Analysis July 11, 2025 at 02:23 PM
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What You Need To Know
- There’s been a 5.4% decline in the number of BD firms over the past five years, FINRA reports.
- Meanwhile, the number of RIAs has grown despite record pace of M&A deals..
- The broad move from commissions to asset-based fees has had a muted impact on the quality of advice, fiduciary advocate Knut Ronstad says.
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