02.12.24

As Retirement Exodus Looms, Rookie Advisor Failure Rate at 72%, Study Finds

by: Ayo Mseka

A study from Cerulli Associates estimates that 109,093 advisors plan to retire over the next decade, comprising 37.5% of industry headcount and 41.5% of total assets. Meanwhile, the rookie-failure rate hovers around 72%. As the industry grapples with such a low success rate for new advisors who are entering the industry, firms must grow their talent pipeline and better communicate the role and training timeline of a financial advisor, the study said.

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