Multi-Generational Teams at a Crossroads: Wirehouse Sunset Program or Independence?
By Louis Diamond – According to a 2017 Cerulli report, 39% of the financial advisor population is over 55 years of age—and of course, no one is getting any younger. Over the past decade, many quality brokerage firms responded to the strong outcry from advisors who had no tangible way to monetize their life’s work in place. As such, firms launched attractive sunset programs like UBS ALFA, Merrill Lynch CTP, and Morgan Stanley FFAP—each providing pathways for senior advisors to unlock liquidity before formally retiring and passing the business along to the next generation.
