News & Articles

Is Flight to Independence the Reason Wirehouses are Leaving Protocol?

Financial Planning – May 22, 2018 | When we look back at this era of the financial planning profession, I think we’ll assign greater significance to a story that many advisors might have missed this year: the wirehouse industry’s sudden misgivings about its Broker Protocol.

The protocol, which now encompasses 1,750 financial services firms, was developed in 2004 for a very specific purpose, benefitting very few companies. Prior to the agreement, wirehouses recruited one another’s brokers and paid hefty upfront bonuses to lure them away – with, of course, their books of business. The brokerage world’s retention strategy was to have their attorneys file temporary restraining orders on anybody who left, preventing departing brokers from contacting their customers after they walked out the door. Read More


AdvisorBridge Appoints Jeffrey Whitaker as Director


AdvisorBridge is pleased to announce the appointment of Jeffrey L. Whitaker as Director. Jeff has been at the top of his field throughout his professional career and is now looking forward to placing professionals like himself in his role at AdvisorBridge.

His appointment follows a successful career as a wirehouse financial advisor. He brings with him not only a wealth of experience but also an outstanding track record compiled at some of the nation’s top financial firms. Jeff has transitioned into the executive search business to work with other professionals in the financial services industry to improve their level of satisfaction. He says that his goal is simple. “My focus is on finding and placing some of the most talented professionals with firms that have partnered with SearchTower,” he states.

Jeff began his brokerage career with Smith Barney, before moving on to Merrill Lynch and Wells Fargo Advisors. The relationships he forged along the way will prove invaluable for clients of SearchTower, as his extensive industry knowledge, valuable contacts and extraordinary coaching skills make him a successful partner in any firm’s search.

“It’s very satisfying to work with people who are so motivated to advance their careers and improve their lives, and to support them as they make positive transitions.”

In addition to his work with AdvisorBridge, Jeff is an active member of the community, the father of a 25-year-old daughter, an avid golfer and an ambassador for the United Network for Organ Sharing.


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