Expected boom in breakaways a dud so far
February 12, 2013 by Andrew Osterland, Investment News Improved financial markets and retention money could be keeping wirehouse reps in their seats Jeff Spears, like every other executive recruiting wirehouse brokers to the independent channel, was hoping that business would pick up for his firm this year. Mr. Spears is the chief executive of Sanctuary Wealth Services LLC, which provides business support, back-office services and investment solutions for independent advisers and those interested in going independent. With another year amortizing off the typical seven-year retention packages given to thousands of wirehouse brokers after the financial crisis, Mr. Spears expected a new wave of advisers would be ready to jump ship from their Wall Street firms this year. “Everyone is saying it's a great environment for recruiting these advisers, but so far, the first quarter has...