The ins and outs of advisor movement

Fidelity research explores the needs, attitudes and actions of investment advisors who proactively switch firms, focusing on influences, mover characteristics, factors for leaving/joining a firm, or starting a new one. The data pulled from the study includes highlights from research conducted with 1,530 financial advisors, including wirehouses, registered investment advisors, and advisors employed by banks, insurance firms, and other broker-dealer financial institutions.

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Key Insights

  • Firm culture and compensation are just two of many factors that influence a decision to move.
  • Advisors who move are confident in their abilities, and strongly desire more control and autonomy.
  • Over two-thirds of advisors who move have a formal transition plan, up significantly from prior years.
  • Movers expect higher compensation and AUM growth following their move to a new firm.
  • Advisors say that an average of 80% of the clients they wanted to move with them ultimately did.
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