December is traditionally a fairly quiet month in the wirehouse recruiting world, as advisors slow down for the holidays and FINRA shuts its doors for the last two weeks of the month making firm switching difficult, according to industry recruiters.
But last December brought a surprise uptick in advisor movement after months of little action. According to Discovery Database, 425 wirehouse advisors changed firms in December, up from only 177 in November and 361 in October. Indeed, December saw the biggest number of wirehouse advisor movement since August 2009 when 434 advisors changed firms.
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