Brokers and financial advisors looking to make more money and have more control over the type of clients they serve and the investments they recommend continued to flood the independent channel at a swift pace in 2010, according to a new Broker and Advisor Sentiment Index survey conducted on behalf of Fidelity Investments.
Whether it was to set up their own shop, join another RIA or sign on with an independent broker-dealer, 56% of the 1,046 investment professionals queried said the independent model has become more attractive in today's economic climate and 70% expect independent advisors and brokers will make more money in the next year and a half.
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