Staffing & Culture | 01.23.23
Recruiting Takes a Hit in 2022, With Moves Down 5.3% From 2021
Total moves of advisors between firms fell 5.3% last year from 2021, according to an analysis of InvestmentNews' Advisors on the Move database. The 15,361 advisors who switched firms in 2022 was lower even than in 2020 and 16.3% below 2019. Just 5,372 advisors moved between firms within the same channel — wirehouse to wirehouse, for example — the lowest since at least 2009, signaling that firms continue to shy away from the most competitive forms of recruiting.
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