News | 11.06.19
37 Percent of Financial Advisors Expected to Retire Over Next Decade
About 37 percent of financial advisors are expected to retire over the next 10 years, putting almost 39 percent of industry assets in motion, according to a report by Cerulli Associates. Wirehouse, independent broker/dealer, and national and regional broker/dealer channels have the largest portion of advisors who are planning to retire and transition their businesses within the next decade, the report said. The report noted that almost 25 percent of advisors across all channels who plan to retire in the next decade do not have a succession plan. “While some progress is being made, the industry is struggling to recruit and retain advisor talent that is adequately prepared to inherit the businesses,” said Cerulli's Michael Rose.
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