Paul C Spitzer | Source | Founding Partner at Advanced Practice Advisors

I don’t know if the wirehouses can survive as they are for another 10 years. You’re making less than 40% of the 100% of the assets you bring in and you’re in the highest tax bracket known to man, whereas in an independent RIA, you get 80% even if you run a sloppy business, and you’re in a low tax bracket.