Regional Broker-Dealers are Making a Comeback

Posted on January 16th, 2019 at 3:19 PM
Regional Broker-Dealers are Making a Comeback

From the Desk of Jim Eccleston at Eccleston Law LLC:

Once overlooked compared to the registered investment adviser and the independent broker-dealer market, regional brokerage firms quietly are making comeback due to recruiting gains at the expense of wirehouses.

However, as wirehouses such as Morgan Stanley, UBS Financial and Merrill Lynch have reduced their recruiting efforts, and Wells Fargo Advisors deals with a series of scandals at its parent bank, regional firms have been aggressively hiring wirehouses brokers by offering attractive signing bonuses and competitive compensation packages.

Comparing growth rates from 2007 through 2017, the four wirehouses have had a compound annual growth rate of 3% of client assets, whereas regional firms have been more successful. For instance, during that same time period, Stifel posted a growth rate of 17%.

The attorneys at Eccleston Law assist financial advisors nationwide in their employment transitions, negotiate their transition agreements (including employment agreements and forgivable loans), and defend reps in arbitration and litigation during and after their transition.

The attorneys of Eccleston Law LLC represent investors and advisors nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of practice for financial investors and advisors including Securities FraudCompliance ProtectionBreach of Fiduciary DutyFINRA Matters, and much more. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today.

Related Attorneys: James J. Eccleston

Tags: james eccleston, eccleston law, eccleston law llc, eccleston, broker-dealers, brokers, morgan stanley, ubs financial, merrill lynch, wells fargo, stifel

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As a financial advisor with over 20 years of experience, I feel fortunate to call Jim my attorney and friend. He is a fantastic lawyer and trusted advisor. He is skilled in the matters necessary to do the job well. He uses his thoughtful approach and calm demeanor to achieve a positive outcome for the client. If you want to feel confident that nothing will be missed and that you will be represented in a highly professional manner, call Jim Eccleston.

Bill C. and Dan M.


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