06.24.25

Only 6% of Advisors Nearing Retirement Have Succession Plan, Survey Finds

by: Edward Hayes

While many financial advisors are nearing retirement, a large majority have not implemented a succession plan, and some are content to retire without one, according to a study by Bluespring Wealth Partners and Kestra Financial. Among advisors who plan to retire within the next 10 years, only 6% said they have a fully documented succession plan. A third said they would consider leaving their firm without a succession plan. More than half of those surveyed said they are afraid to relinquish control, and about a quarter fear that their clients will not be taken care of after they retire.

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