04.01.26

Bank Wealth Programs Falling Behind in Fight for Next-Gen Talent

by: Sam Del Rowe

Bank wealth management programs are struggling to attract next-generation advisors and risk a growing talent shortage, according to a Datos Insights report. While compensation costs rose 6.8% annually from 2021 to 2024, revenue per employee increased only 2.5%, and many firms lack succession plans for retiring advisors. Competition from registered investment advisors is intensifying, with bank market share projected to fall significantly by 2035. Younger advisors prioritize technology, teamwork and long-term incentives, prompting calls for improved partnership models, AI-driven tools and referral systems.

Read the full article on Financial Advisor IQ