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U.S. Stockbrokers Abandoning Wall Street Firms

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BAD NEWS FOR THE FIRM CHURNEM, BURNEM & SPURNEM
"Independent financial advisers are gaining ground from Wall Street brokers in the competition to manage more than $5 trillion in Americans' savings," the Wall Street Journal reported. "The ranks of brokers at major Wall Street firms have been shrinking, along with those firms' share of the retail-investing market. At the same time, independent advisers are growing in number and market share."

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