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{RED LIGHT!}

From Registered Rep:

A new wave of wirehouse financial advisors could hop from one employer to the competition—just like the wave that quit at the height of the recent financial crisis when Wall Street’s biggest brokerages merged or were acquired. That’s according to a new report slated for publication on Tuesday by Aite Group. Many of the retention contracts brokers signed in 2008 and 2009 are starting to lose theirfinancial bite, so wirehouse firms should prepare for the possibility that there will be a new round of departures, according to Aite.

…Aite notes that retention packages offered by the large wirehouses, especially by Bank of America and Morgan Stanley, to their best producers, have undoubtedly played a major part in retaining FAs and their clients’ assets. The packages were offered when a “war” for advisory talent broke out in 2008 and 2009 as the financial crisis unfolded. “While many of the dominant wealth management franchises, like Merrill Lynch, Smith Barney, and Wachovia Securities, were in the process of being acquired, others like LPL, Edward Jones and Raymond James, used this unique opportunity to hire unhappy advisors from acquired firms,” according to the Aite study, referring to the breakaway brokers…

This article’s got it all: war, greed, shrouded secrets…

So go — get all of the juicy details. You know you want to.

{GREEN LIGHT!}

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