Press Release

Rep Movement Report: Movement to Independent, RIA Channels Driving Change 

NEW YORK (March 12, 2025) – ISS Market Intelligence (ISS MI), a leading global provider of data and insights to the global financial services industry, announces the release of the latest Rep Movement Report.

This report explores the patterns of advisors’ movements across distribution channels, the structural shifts driving these changes, and what these factors could mean for firms competing to attract and retain top talent.

In 2024, nearly 35,000 reps, or 4.4 percent of the total, joined another firm, about the same as in 2023. The majority of these reps moved to another firm within the same distribution channel, most likely due to their specific expertise, client relationships, and business models.

Reps who did make the leap to another distribution channel were drawn by a mix of factors, including higher payouts, improved access to technology, and closer alignment with client interests. Since the start of 2020, almost 10 percent of Wirehouse reps have moved to other distribution channels.

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About ISS Market Intelligence
ISS Market Intelligence (MI) is a leading provider of data, insights, and market engagement solutions to the global financial services industry. ISS MI empowers asset and wealth management firms, insurance companies, distributors, service providers, and technology firms to assess their target markets, identify and analyze the best opportunities within those markets, and execute on comprehensive go-to-market initiatives to grow their business. Clients benefit from our increasingly connected global platform that leverages a combination of proprietary data, powerful analytics, timely and relevant insights, in-depth research, as well as an extensive suite of industry-leading media brands that deliver unmatched market connectivity through news and editorial content, events, training, ratings, and awards.

About ISS STOXX
ISS STOXX GmbH, through its group companies, is a leading provider of comprehensive and data-centric research and technology solutions that help capital market participants identify investment opportunities, detect qualitative and quantitative portfolio company risks, and meet evolving regulatory requirements. With roots dating back to 1985, we today deliver world-class benchmark and custom indices across asset classes and geographies and serve as a premier source of independent corporate governance, sustainability, cyber risk, and fund intelligence research, data, and related offerings. Our products and services give clients the scale and leverage they need to grow their business more effectively and efficiently. ISS STOXX, which is majority owned by Deutsche Börse Group, is comprised of more than 3,800 professionals operating across 30 global locations in 20 countries. Its approximately 5,500 clients include many of the world’s leading institutional investors who turn to ISS STOXX for its objective and varied offerings, as well as companies focused on ESG, cyber, and governance risk mitigation as a shareholder value enhancing measure. Clients rely on ISS STOXX’s expertise to help them make informed decisions to benefit their stakeholders.

Media Contact

Hayley Tarleton, Marketing
press@issmarketintelligence.com

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