Q137 - Why Do Advisors Leave The Wirehouse Model For The RIA Model?

We often hear about “breakaway” advisors.That is commonly understood to refer to wirehouse advisors “breaking away” to setup their own independent practices.It’s one of the main reasons the RIA channel has been, and continues to be, the fastest growing channel in the industry.But why do we never hear about independent advisors going in the other direction to the wirehouse model?Why does the river only run in one direction?In this episode of the Transition To RIA question & answer series I explain:Why the current trend was not always the case.What caused the trend to now occur (for a decade plus now.)What the main motivators are for wirehouse advisors to make the change.Come take a listen!P.S. Prefer video? You can find this entire series in video format on Youtube. Search for the TRANSITION TO RIA channel.Show notes: https://TransitionToRIA.com/why-do-advisors-leave-the-wirehouse-model-for-the-ria-model/About Host: Brad Wales is the founder of Transition To RIA, where he helps financial advisors between $50M and $1B understand everything there is to know about WHY and HOW to transition their practice to the Registered Investment Advisor (RIA) model. Brad has 20+ years of industry experience, including direct RIA related roles in Compliance, Finance and Business Development. He has an MBA and has held the 4, 7, 24, 63 & 65 licenses. The Transition To RIA website (TransitionToRIA.com) has a large catalog of free videos, articles, whitepapers, as well as other resources to help advisors understand the RIA model and how it would apply to their unique circumstances.