Monday, January 4, 2010
In case you missed it -- the Wall St. Journal today has a front-page story on the exodus of brokers from major brokerage firms and their transformation into investment advisers. The statistics show a decline in the number of registered representatives and a corresponding growth in registered investment advisers. Those making the move cite the fallout from the collapse of major firms like Bear Stearns and Lehman and the merger of Merrill. WSJ, More Brokers Flee Big Firms, Taking Investors With Them.