RJ and Makay

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Even as average assets under management (AUM) per advisor have been rising, wirehouses have lost headcount and asset share, according to a new Cerulli Associates report.  For asset managers, there will be more assets managed by a lesser number of advisors, leading to greater wholesaler focus on top producers, according to the report.

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Almost half of all wirehouse brokers are drawing up plans to exit their firms in 2012, according to a March survey conducted by research firm Aite Group.  150 wirehouse advisors participated in the survey that measured brokers attitudes about leaving their firms.  Of those, roughly one-fourth are serious about following through on exit strategies at Morgan Stanley Smith Barney, Merrill Lynch, Wells Fargo and UBS Wealth Management.

Last month Cerulli Associates announced the use of an “opportunity index” in one of its studies to help asset managers focus their distribution efforts.

The new rating tool, used in Cerrulli’s study “Managed Accounts: Asset Manager Distribution Roadmap,” evaluates specific sponsors according to characteristics that make them more or less attractive to managers looking for access or wanting to grow assets on their platforms. These characteristics include momentum, total asset growth and size, and growth of the advisor force.

Morgan Stanley Smith Barney scored highest among sponsors across each best practices category, Cerulli said. Bank of America/Merrill Lynch, Wells Fargo Advisors, UBS and RBC Wealth Management followed.