Bloomberg offers an interesting article, suggesting that the woes of the big wirehouses may pose a once-in-a-lifetime opportunity for independent asset management firms. There's a lot of anger out there, and at least some of it is aimed at the big-name investment banks. So it would not surprise anyone if independents made a big marketing push right now, for both customers and brokers fleeing the likes of Morgan Stanley and Merrill Lynch. Charles Schwab and Fidelity--the two biggest RIA platforms--tell Bloomberg they are handling record business right now. But customers just might find out that the service offered at a small firm are not meaningfully different from a big firm. The line between a commission guy and a for-fee guy has been blurring for a while. But that's not anything that some tickets and freebies can't overcome.

For more:
- here's the Bloomberg article
- a view from the adviser trenches. Article