There were about 200 teams of veteran advisers who moved so far this year until the end of June. This was a lower number compared to the 300 departures recorded for the same period last year. These figures were based on data from Reuters. Reuters tallied the movements of adviser teams handling US$100 million or more worth of client assets.

This decline in adviser team movement was good news for firms. Advisers who move out of a firm bring their clients with them. As a result, firms lose large revenue streams because of these departures.

According to Alois Pirker, a research director at Aite Group, "So far the big firms have done a good job stabilizing their advisers." Similarly, Greg Fleming, Morgan Stanley Wealth Management chief, also observed a lowered attrition among advisers in their company. According to Fleming, a factor causing this trend was stronger markets. Chiefs from other top US brokerage firms also agree with Fleming.