From Financial Advisor Magazine
Added on September 2015 in M&A Issues
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Summary: Persistently good markets have made potential sellers hesitant to get out while they enjoy strong cash flow from their businesses, said Dan Seivert, chief executive of Echelon Partners, a mergers and acquisitions consultant.
From wealthmanagement.com
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Summary: Talented young advisors are hard to find. As the labor market tightens and the demand for advisory services grows, the war for talent will likely prove even more competitive in years to come.
From Think Advisor
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Summary: The financial advisory profession is facing a looming talent shortage. According to Cerulli, 71% of the advisor population is over the age of 45, and the average advisor is 51½ years old. As these advisors reach retirement age, some 8,600 are expected to leave the profession every year for the next 13 years, thinning the ranks of advisors at a 2.7 percent annual clip. Unfortunately, for every eight advisors that retire, only three are trained to replace them.
From Financial Planning
Added on September 2015 in Join an RIA
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Summary: A survey by the CFP Board a few months ago found that less than 4% of planners are younger than 30 and more than 20% are older than 60. It’s obvious there will need to be a bigger influx of young advisors for our profession to thrive.
From Wall Street Journal
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Summary: More advisers are using social media and winning business because of it. An annual survey from Putnam Investments found that 81% of financial advisers use social media for business, up from 75% last year. The share of advisers acquiring clients through social media jumped to 79% from 66% in 2014, the survey says.
