Advisers are leaving the biggest wire houses to work at banks, regional brokerage firms and independent advisory companies at a more rapid pace than in January, according to a report from the research firm Discovery Database.

Of advisers who left wire houses in July, less than 30% went to another wire house, versus 70% in January, according to the report, which the Shrewsbury, N.J., firm released Wednesday.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.