By Louis Diamond, WealthManagement.com – The conversation around change in the wealth management industry is one that often focuses on the evolution of the landscape—most notably shaped by events such as withdrawals from the Protocol, furloughs on recruiting and the reduction of recruiting packages. Yet widespread change is often precipitated by more than what we read about in the headlines—a response to evolving values and beliefs of the advisors. And this shift in advisor sentiment is serving as a significant driver behind the industry’s current wave of transformation.
By Louis Diamond, Citywire – An aging advisor population has highlighted the need to increase the ranks of next-gen advisor talent. The problem is that FA training programs – previously the dream of many college graduates and freshly-minted MBAs – have taken a back seat to Silicon Valley startups. To be sure, only a quarter of today’s advisor population is under the age of 40, and a mere 10 percent are under 35, according to research by the CFP Board and Cerulli.
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