Something interesting is happening along the Treasure Coast. Walk into any networking event at Mariner Sands or grab coffee on Osceola Street, and you'll hear it: Stuart executives are having serious conversations about firing their big-box brokerages. The wirehouses that once dominated wealth management are watching their high-net-worth clients walk out the door: and independent Registered Investment Advisors (RIAs) are the primary beneficiaries.

This isn't just anecdotal. Industry data shows that independent RIAs have captured over $1.2 trillion in assets from traditional brokerages since 2020, with the pace accelerating dramatically in 2025 and 2026. For Stuart professionals managing substantial wealth, the question is no longer if they should consider an independent advisor, but when.

Table of Contents

  1. What's Driving the Exodus from Big-Box Brokerages?
  2. The Fiduciary Standard: Why It Matters More Than Ever
  3. What Stuart Executives Actually Want from Their Advisors
  4. The Hidden Costs of Staying with National Firms
  5. Why Independent RIAs Are Winning in 2026
  6. Making the Switch: What to Expect

What's Driving the Exodus from Big-Box Brokerages?

Let's be direct: Stuart executives are sophisticated. They've built businesses, navigated complex compensation packages with RSUs and deferred comp, and they expect the same level of strategic thinking from their financial advisors. Unfortunately, the big-box brokerage model wasn't designed for that.

Executive leaves corporate skyscraper for inviting boutique office, symbolizing shift from big-box brokerages to RIAs in Stuart

The traditional wirehouse model operates on volume. Advisors at national firms typically manage 200-400 client relationships, which translates to roughly 15-20 minutes of dedicated attention per client, per month. For someone managing a $3 million portfolio with stock options, rental properties in Martin County, and concerns about the 2026 estate tax sunset, that's simply not enough bandwidth.

The breaking point for many local executives came during recent market volatility. When portfolios dropped 15% in a matter of weeks, calls to their "dedicated" advisors went unreturned for days. Meanwhile, their neighbors working with independent RIAs were getting proactive calls before the drop, with clear action plans already in place.

The Fiduciary Standard: Why It Matters More Than Ever

Here's the fundamental difference that's driving this migration: independent RIAs are legally required to act in your best interest. Big-box brokerages operate under a "suitability" standard, which only requires that recommendations be appropriate: not necessarily optimal.

What does this look like in practice?

A broker operating under suitability might recommend a mutual fund that pays them a 1.2% trailing commission when a nearly identical ETF with a 0.03% expense ratio exists. Both are "suitable" for your goals. Only one is in your best interest.

For Stuart executives with complex financial pictures, this distinction compounds dramatically over time. A study from the National Bureau of Economic Research found that conflicted advice costs investors approximately 1% per year in returns. On a $2 million portfolio over 20 years, that's potentially $600,000+ in lost wealth.

As we discuss frequently on The Closing Flame podcast, understanding who your advisor truly works for isn't just philosophical: it's mathematical.

What Stuart Executives Actually Want from Their Advisors

Through countless conversations with local professionals, a clear pattern emerges. Stuart executives aren't looking for flashier investment products or more aggressive returns. They want three things:

1. Genuine Partnership

They want an advisor who understands their entire financial picture: not just their investment account. That means someone who coordinates with their CPA, collaborates with their estate attorney, and understands how their business interests intersect with their personal wealth.

2. Proactive Communication

The reactive model is dead. Executives don't want to call their advisor wondering why their portfolio dropped. They want their advisor calling them with a plan before market events impact their holdings. AI-enhanced wealth management has made this level of monitoring not just possible, but expected.

3. Comprehensive Tax Strategy

Perhaps the biggest gap in big-box brokerage service is tax planning. Most wirehouse advisors aren't CPAs and aren't compensated to think about your tax situation holistically. Independent RIAs, particularly those serving high-net-worth clients, typically build tax strategy into every investment decision.

Overhead view of two diverging paths, representing executives' choice between national brokerages and independent RIAs

The Hidden Costs of Staying with National Firms

Let's talk numbers, because this is where the conversation gets uncomfortable for big-box defenders.

Expense Ratios and Revenue Sharing

National brokerages maintain "preferred product lists" that often feature funds paying revenue-sharing fees back to the firm. These funds frequently carry expense ratios 0.5% to 1.0% higher than comparable alternatives. Your advisor may not even realize they're steering you toward costlier options: it's simply what's on their approved list.

Platform Fees

Many wirehouses charge platform fees, administrative fees, and account maintenance fees that can add another 0.25% to 0.50% annually. These fees often appear buried in your statements.

Opportunity Costs

Here's the hidden cost nobody discusses: what you're not getting. At a big-box brokerage, you're unlikely to receive daily security-level tax-loss harvesting, coordinated estate planning, or sophisticated strategies around concentrated stock positions. These services can easily add 1-2% annually in "tax alpha" for the right clients.

When Davies Wealth Management works with Stuart executives, we frequently identify six-figure opportunities in the first comprehensive review: value that was sitting unrealized at their previous firm.

Why Independent RIAs Are Winning in 2026

The independent RIA model has reached a tipping point, and several factors are accelerating the trend:

Technology Democratization

Independent RIAs now have access to the same institutional-quality technology platforms that were once exclusive to major Wall Street firms. Portfolio analytics, risk management tools, and client reporting have been completely leveled.

Talent Migration

The best advisors are leaving wirehouses in record numbers. A 2025 Cerulli Associates study found that 73% of advisors under 45 prefer the independent model. The talent is flowing toward independence, and clients are following.

Transparency Expectations

Post-2008, post-pandemic, clients expect radical transparency. Independent RIAs, who typically charge a straightforward percentage of assets under management with no hidden revenue streams, align perfectly with this expectation. When you ask an independent advisor how they get paid, the answer is simple and verifiable.

Local Accountability

For Stuart residents specifically, there's something powerful about working with an advisor who lives in your community, whose kids might attend the same schools, who you'll see at the Jupiter Inlet. That local accountability creates a different relationship than a 1-800 number connecting you to a regional office in Jacksonville.

Group of executives discussing wealth management at a Florida café, highlighting local, personalized advisory relationships

Making the Switch: What to Expect

If you're considering moving from a big-box brokerage to an independent RIA, here's what the transition typically looks like:

Step 1: The Discovery Process

A quality independent RIA will spend 2-3 hours understanding your complete financial picture before making any recommendations. This includes reviewing existing accounts, understanding your tax situation, discussing estate planning goals, and identifying immediate opportunities. Our estate planning assessment tool is a great starting point for this conversation.

Step 2: The Transfer

Account transfers typically take 5-10 business days through ACATS (Automated Customer Account Transfer Service). During this period, your assets are in transit but remain invested. A competent RIA will coordinate the timing to minimize any market exposure gaps.

Step 3: Portfolio Optimization

Once assets arrive, your new advisor will typically conduct a thorough review for tax-loss harvesting opportunities, position consolidation, and alignment with your stated goals. This initial optimization often generates immediate value.

Step 4: Ongoing Relationship

The real difference becomes apparent over time: quarterly reviews that actually mean something, proactive communication during market events, coordination with your other professionals, and a genuine partnership focused on your long-term success.

The Bottom Line for Stuart Executives

The migration from big-box brokerages to independent RIAs isn't a trend: it's a structural shift in how sophisticated investors manage their wealth. For Stuart executives who've worked hard to build substantial assets, the question worth asking is simple: does your current advisor work for you, or for their firm?

At Davies Wealth Management, we've helped dozens of local professionals make this transition, and the feedback is consistently the same: "I wish I'd done this years ago."

Ready to explore whether an independent RIA relationship makes sense for your situation? Reach out to our team for a no-obligation conversation about your current advisory relationship and what alternatives might look like. Your wealth deserves an advocate who's legally bound to put your interests first.