Pay Up and Let Them Market

Reason for Preferring RIA Channel	Not a Factor	Moderate Factor	Major Factor
100% payout	15% 15%	43% 43%	43% 43%
Greater marketing flexibility	20% 20%	45% 45%	35% 35%
Increases financial value of practice	22% 22%	46% 46%	32% 32%
Current B/D not adding enough value in relation to cost	33% 33%	39% 39%	28% 28%
Flexibility regarding fee levels and structure	32% 32%	40% 40%	28% 28%
Regulatory oversight is less burdensome for RIAs	27% 27%	46% 46%	27% 27%
Flexibility to select technology systems	32% 32%	44% 44%	24% 24%
Paying for unused services offered by current B/D	25% 25%	52% 52%	23% 23%
Ability to take discretion over client accounts	56% 56%	25% 25%	19% 19%
Appeal of independent model to clients	40% 40%	43% 43%	17% 17%
Increased opportunity to acquire other RIAs	41% 41%	42% 42%	16% 16%
Operate exclusively as a fiduciary	35% 35%	49% 49%	16% 16%
Ability to build custom model portfolios	56% 56%	28% 28%	16% 16%