Experienced advisors changed firms in 2025.
Reported as a record year for experienced advisor movement and a 16.2% increase from 2024.
Source: Diamond Consultants, 4th Annual Advisor Transition Report.What the movement data actually shows.
Evidence and Method
Advisor movement is common enough to study, but industry averages cannot decide whether your clients, economics, and timing support a move.
The market context.
These figures explain the environment around advisor transitions. They are not predictions about an individual practice.
Considered changing firms within a five-year period.
Considering a transition is a majority experience, even when no move ultimately occurs.
Source: Fidelity Investments Advisor Movement Study.Actually changed firms during the study window.
The gap between consideration and action is the reason readiness matters.
Source: Fidelity Investments Advisor Movement Study.What public data can tell you.
Registration and movement records are useful because they replace vague market stories with observable behavior. They still require careful interpretation.
Who moved and when
Registration histories can show firm changes, tenure patterns, channel movement, and concentrations of departures.
Where movement is increasing
Aggregated records help identify shifts across firms, models, geographies, and advisor experience levels.
Which questions deserve attention
Firm events and movement patterns can reveal where advisors should scrutinize retention terms, portability, support, or business-model fit.
What public data cannot tell you.
No registration record can determine whether your clients will follow, whether your team is ready, or whether another model fits the practice you want.
Industry movement does not predict your outcome.
Your book composition and client relationships matter more than a broad average.
Public data cannot price your practice.
Revenue quality, growth, concentration, transferability, and deal terms require deeper work.
Evidence frames the decision. It does not make it.
The individual answer may be move, wait, renegotiate, or stay.
Research standard
Separate the source, the calculation, and the interpretation.
Every important figure should identify where it came from. Every projection should be labeled as illustrative. Every conclusion should explain which assumptions could change it.
Use the evidence in context.
Market data becomes useful when it is applied to a specific decision rather than treated as a forecast.
01
Evaluate advisor transition readiness
Separate dissatisfaction from the client, economic, team, and timing evidence required for a move.
02Read a retention offer after an acquisition
Compare the headline amount with the term, payout, restrictions, and business-model fit.
03Model forgivable-note clawback exposure
Make the remaining balance and repayment triggers visible before signing.
Now apply the evidence to your practice.
The assessment establishes which parts of the decision need a closer look.