Practically a 3rd (33 p.c) of registered funding advisors’ new shoppers in 2018 got here from commission-based brokers, in line with a brand new survey by TD Ameritrade Institutional. 1 / 4 of latest shoppers got here from self-directed platforms, whereas 23 p.c left wirehouse brokerages in favor of impartial advisors.
TDAI’s 2019 RIA Sentiment Survey was primarily based on a phone survey of about 300 RIAs, each shoppers and non-clients of the custodian.
Final yr, RIAs additionally introduced in new shoppers from impartial dealer/sellers (10 p.c), different RIAs (9 p.c) and banks (three p.c), the survey discovered. Simply 1 p.c joined from robo advisors.
Regardless of the market volatility, RIAs reported a 14 p.c enhance in new shoppers in 2018, 18 p.c income bump, and 18 p.c development in property underneath administration. Practically half (48 p.c) of impartial advisors anticipate to develop sooner this yr.
“In occasions of market uncertainty, traders search out monetary steerage from educated professionals—impartial advisors who concentrate on their targets, threat tolerance and different particulars of their monetary lives,” mentioned Vanessa Oligino, director, enterprise efficiency options at TD Ameritrade Institutional, in a press release. “RIAs assist shoppers perceive their selections for weathering completely different market cycles to allow them to preserve pursuing their targets.”