A question we’ve heard a lot lately is “are people really transitioning right now?” While the Pandemic shut down everything from schools and restaurants to sporting events and travel these past few months, one thing it didn’t slow was the flow of advisors transitioning to new broker-dealers.
In fact, some of the biggest moves we’ve seen in years took place after the start of stay-at-home orders near the end of March. These moves prove the resiliency of the industry as well as the deep pockets and optimism of some of the biggest BDs.
Here are the Top 10 moves according to AdvisorHub during the Corona quarantine.
| New Firm | Old Firm | Practice Name | AUM | Location | Date |
| LPL Financial | Securities America | JFC Financial Services | $3B | Lincoln, NE | 4/30/2020 |
| UBS | Sanford C. Bernstein & Co. | John Baumgarten, Cory Dowell and Chad M. Jones | $1.5B | Dallas, TX | 5/20/2020 |
| First Republic | Morgan Stanley | Steve Condos (The Apollo Group) | $1.3B | New York, NY | 5/22/2020 |
| Northern Trust | LPL Financial | Paul E. Kubasiak | $1B | Chicago, IL | 4/23/2020 |
| Rockefeller Capital Management | Merrill Lynch | Darrell Preston, Gerald Dahlander and Drew Swedlund | $1B | Dallas, TX | 5/29/2020 |
| Wells Fargo | UBS | David Ciccone, Thomas Harsanyi, Robert G. Taylor and David N. Litman | $976M | McLean, VA | 5/22/2020 |
| Gladstone Advisors | Morgan Stanley | Bruce Kelm and Duncan Kelm | $975M | Fort Mill, SC | 5/21/2020 |
| Wells Fargo | UBS | Grant Minor, Ben Minor and William Minor | $700M | Canonsburg, PA | 5/15/2020 |
| RBC | Wells Fargo | MidTown Wealth Management Group | $688M | Fond Du Lac, WI | 4/1/2020 |
| RBC | Morgan Stanley | Steven Sheresky, Jeffrey Sheresky, and Jeff Samsen | $650M | New York, NY | 5/14/2020 |
Challenging times can actually uncover the shortcomings, poor support, and inadequate technology platforms that many advisors have been forced to use. It is likely we’ll see moves like these increase above normal levels over the coming months.
If you are curious about moving to a new broker-dealer, click here to secure multiple transition offers all while remaining 100% anonymous. 3xEquity works with advisors like you to streamline switching BDs and to negotiate the biggest transition package possible. Our services are always provided free to you – and the size of your transition package isn’t impacted by our participation. Get started today.
