We've extended the runway. It takes longer to establish relationships and open accounts than it did in the 1980s and 1990s.”
Mr. Robert Patrick, director of private-client-group education and development at Raymond James. |
A talent shortage looms as the industry booms
Mark Schoeff Jr. | Investment News, April 2012
Read the article online >Summary: The profound demographic trend that is boosting demand for investment advice — the millions of baby boomers retiring or planning their retirement — also is threatening the financial advisory sector with a talent shortage.
A 2011 survey by Cerulli Associates Inc. showed that 22% of advisers were below 40 and only 5% were younger than 30. The average age of advisers was 49.6, up one year from 2010. The average for wirehouse advisers was 50.6.