There are still plenty of brokers at traditional wirehouses that are leaving for greener pastures. These days, they're more likely to join an existing registered investment advisory firm rather that start their own firms, notes Investment News.

This suggests the maturity of the RIA industry, with more firms being able to offer the support and product line that wirehouse brokers are looking for. Of the 172 new adviser teams that joined Charles Schwab (the firm of choice for independents) last year, 42 percent were at an existing RIA. In 2008, only 15 percent of 123 new teams went to an existing firm. Charles Schwab has been offering training sessions for its adviser clients on how to bring on new talent, in many cases from wirehouses. They certainly have a story to tell. There would appear to be many efficiencies gained from joining an established firm, rather than starting from scratch. 

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