More Brokers Flee Big Firms, Taking Investors With Them

Independent financial advisers are gaining ground from Wall Street brokers in the competition to manage more than $5 trillion in Americans' savings.

The ranks of brokers at major Wall Street firms have been shrinking, along with those firms' share of the retail-investing market. At the same time, independent advisers are growing in number and market share.

WSJ Logo
JPMorgan to Pay $330 Million Over 1MDB TransactionsExternal link

JPMorgan to Pay $330 Million Over 1MDB Transactions