Insurance Channel Sending Scores of Advisors to IBDs
June 27, 2017 by Cyril Tuohy
Large percentages of financial advisors recruited to independent broker-dealers (IBD) are as likely to come from the insurance distribution channel as they are from big wirehouses, a financial industry expert said.
IBDs Kestra Financial and ING Financial Partners each recruit about 30 percent of their advisors from the insurance channel, said Chip Roame, managing partner of Tiburon Strategic Advisors, a market research firm.
IBDs Cambridge Investment Research, Sigma Financial and Signator Investors each recruit between 23 and 27 percent of their financial advisors from the insurance channel, according to Tiburon.
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