Facing the succession planning crisis

Summary: While the precise statistics vary depending on the source, all studies point to the fact that less than 25% of advisers have viable succession plans in place. Looking at the demographics of our industry drives this point home further. According to Cerulli Associates Inc., across all channels, including RIAs and wirehouses, advisers who are at least 60 control more than $2.3 trillion in client assets. For advisers like these, there has never been an industrywide solution to help protect their clients, their employees and their families for the long term.