SAN DIEGO -- Brokers looking for an industry change may find stability and a higher quality of life with credit unions, one investment firm executive offered.
According to a recent Aite Group LLC survey of 69 brokers, more than one in four employee brokers are currently considering going independent. That contemplation may open up opportunities for the credit union industry to woo some of them.
Valorie Seyfert, CEO of CUSO Financial Services LP, acknowledged with Aite's small sample size, it would be difficult to draw a conclusion that one-quarter of all employees brokers are going independent. Still, anecdotally, it may indicate that some are thinking about it, she pointed out.
"I don't think it would be unreasonable to conclude that many of their advisers are at least considering a move to another broker-dealer that might offer more stability and greater opportunity," Seyfert said.
Credit unions should be a consideration as an alternative to going independent, she suggested, adding "delivering investment services in the credit union environment can provide registered representatives with ample career benefits in addition to the prospect of enjoying a higher quality of life than might be typical in other investment delivery channels."
--msamaad@cutimes.com
