Independent Financial Advisors Expanding Marketshare Over Wall Street Brokers

Large brokerage houses are losing share to independent financial advisors, The Wall Street Journal reports in a front-page story. Seattle Business Magazine was first to report on that trend in Washington state in a September cover story entitled “Keeping the Wealth in Washington. According to Cerulli Associates, a Boston research firm, brokers leaving major firms were expected to take with them as much as $188 billion in client accounts.

In an effort to expand our coverage of financial advisors, Seattle Business has established a relationship with NABCAP, an organization that has devised a new system for surveying and reporting on high quality financial advisors. Look to our June issue for a listing of top financial advisors in our state.