Succession Planning Vacuum Risks Alienating RIA Clients, Next-Gen Leaders

Succession Planning Vacuum Risks Alienating RIA Clients, Next-Gen Leaders

What’s the plan? Well, nobody seems to know. With a massive wave of retirements hitting the wealth management industry over the next decade, succession planning might seem like a top priority. However, just 6% of advisors nearing the end of their full-time careers have a fully documented succession plan, according to a report from Kestra Financial and Bluespring Wealth Partners. If they don’t figure out their strategies soon, potential successor…

Succession planning and the 'risk no firm can afford'

As an aging cohort of financial advisors prepares for retirement, firms are scrambling for next-gen talent. Yet a new study found that few have developed a comprehensive succession plan.