(New York)

For many advisors, the idea of changing firms in the middle of the coronavirus pandemic might be the furthest thing from their minds. But the reality is that for many, this could be an ideal time to switch (or even a necessity) for a number of reasons. Firstly, many advisors feel under-supported by their firms during crises (of which this one is unprecedented), which may motivate them to switch associations. But additionally, because of the volatile to the market, recent valuations/production numbers might mean moving soon makes the most sense, as it will maximize the size of moving checks one can receive.

FINSUM: A lot of advisors seem to be worried about maintaining their employees and payroll given the big fall in fees.