Financial Advisor Exit Cliff

Over the next decade, approximately 109,000 financial advisors, representing 37.5% of total industry headcount and 41.5% of assets, plan to retire. Of those, 26% don’t have a succession plan in place. While a significant percentage of advisors plan to retire, the pool of incoming talent is smaller as the ‘rookie failure rate’ for new advisors is over 70%.

(SOURCE: CERULLI ASSOCIATES)