 In the independent financial advisory world, you are not living up to your fiduciary duty if you do not have plans for supporting your clients and their families when you retire or if something happens to you."Michael Paley, managing director, Focus Financial Partners |
Lack Of Succession Plans Is 'Scary'
Karen DeMasters | Financial Advisor Magazine, February 2014
Read the article online >
Summary: The lack of planning is particularly important because advisors over age 60 control $2.3 trillion in assets. According to recent research by Cerulli Associates, a financial industry research firm, nearly one third of advisors in the United States will exit the business in the next decade. The average age of advisors is now 50.9 years and 43 percent are over 55 years of age.
Be the first to comment on this Article
