The poll for the study, which was conducted from January 2, 2012 to March 16, 2012 on more than 2,500 financial advisors, has revealed that over 70% of the advisors are seriously exploring independent opportunities.
Diamond Consultants president and CEO Mindy Diamond, remarked, "Financial advisors are becoming increasingly attuned to the growing number of high quality independent practice models. Such models allow for varying degrees of independence, accommodating individual sentiments and goals."
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"Advisors are learning quickly that independence can mean having the ability to access the most robust resources, research, technology and infrastructure," he further added.
The study has also revealed advisors expressing the desire to have greater control over their businesses and the ability to be a buy-side advocate for clients, and create competition for price and service.
Advisors are also shown to be seeking less bureaucracy, a more client-focused culture, greater freedom and flexibility, and they desire to build equity in an enterprise.
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