New Advisors Joining BDs Dipped Below 40K in 2019

Aug 10, 2020 / By Elaine Belsito
Horsesmouth Assistant Editor
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Chart Talk: According to FINRA’s “2020 Industry Snapshot,” fewer registered representatives joined broker-dealers in 2019 than in any year since 2005, when FINRA began to publish the data.

FINRA’s latest Industry Snapshot shows barely 39,000 reps joining the brokerage industry, while more than 44,000 dropped their brokerage licenses. This doesn’t necessarily represent a net drop of 5,000 advisors, but reflects that many financial advisors are now starting their firms in the RIA channel, sidestepping the brokerage industry.

Source: FINRA

Source: FINRA

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