A new survey by Charles Schwab shows that three-fourths of advisors believe that the number of advisors becoming registered investment advisors will continue to increase, and more than half say they find the idea of becoming an RIA appealing.
Sixty-five percent of younger advisors, those under age 40, found the idea of becoming independent appealing, compared to 43 percent of those over age 40.
Of those who thought becoming an RIA was appealing, 56 percent said they were interested because it would mean a larger income; 52 percent said it would give them the freedom that comes with running their own business; and 51 percent said it would give them the ability to place a higher priority on client service and communications.
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