Advisors are more likely to join an existing RIA firm as an owner or principal than start their own independent firm, according to a new report by Cerulli Associates.

"Many advisors are daunted by the task of forging their own path and the accompanying headaches," Bing Waldert, director at Cerulli, said in a statement. "Advisors considering the RIA channel are increasingly looking to join existing firms that can provide them with not only the necessary operational infrastructure, but also a sense of community."

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