More wirehouse brokers expected to bolt this year

An Investment News article states that more brokers will shift to the independent RIA channel this year as markets stabalize and retention deals wind down.  It quotes all of the major custodians and other industry player as expecting an increase in activity in 2012.  A report from Cerulli Associates Inc. this month predicts that the wirehouses’ market share of assets will drop from an estimated 43% last year to 35% in 2013.  Custodians have also been picking up representatives from independent broker-dealers that have been forced to shut down due to problems with failed private placements and high regulatory costs.

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