RIAs

The wirehouses aren't fading yet, but many independents argue that these firms will need to change dramatically to retain market share.

"We want our planners to feel unsettled when their clients are unsettled," says Grant Rawdin, who has built a $2 billion firm on specialized, deep advice.

"Branding initiatives are critical today, and the CFP Board should be applauded for its effort, but it's really difficult to assess the effectiveness of a national campaign on a local level," says marketing expert April Rudin.

Leaving the wirehouses for independence can be worth it, but be prepared for the unexpected, advisors say.

Things have changed and will continue to do so; advisors shouldn't be deterred.

A Morgan Stanley exec and other industry experts urge financial planners to embrace this approach to making investments, popular with both millennials and women.

Over the past six months, three trends have emerged that make going independent increasingly attractive to these billion-dollar teams.

Advisors play a crucial role in keeping clients accountable to their retirement savings plans, according to experts at the Morningstar conference.

Business development and investment management are the most difficult positions to fill, a new Schwab study found.

"The industry is in a position of undeniable strength. I am confident that you'll be able to win," Schwab EVP Bernie Clark will advisors at the EXPLORE conference.