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Summary: The average age of financial advisors creeps higher each year, approaching the traditional age of retirement. A growing chorus of voices have warned of the looming onslaught of advisors retiring, the lack of young talent to take over their firms, and thus a wave of advisory firms that will come up for sale resulting in a competitive buyer’s market that will make advisors regret having waited to sel
 So perhaps it’s time to stop criticizing what as many as 99% of advisors are already clearly demonstrating they don’t want to do. Maybe our focus should be on how to help advisors redesign towards the kind of lifestyle wind-down practices they do want, with better support for exit and continuity planning instead."Michael E. Kitces, Director of Research, Pinnacle Advisory Group |
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