I have a piece up at Wall Street Journal today about the “dangerous stockbroker shortage” that is currently threatening America.
Did you know that only 5.6% of financial advisors are under the age of 30? How can an industry like ours, that routinely eats its young, possibly carry on into the next decade with statistics like that?
There is bad news and then there is the typical opportunity that follows bad news in a capitalist society. While the industry’s headcount is rapidly shrinking, the big firms are finally planning to do something about it. The training programs are restarting after a few years of dormancy. There is a major wealth transfer underway and the need for energetic, enthusiastic advisors has never been greater.
My post examines the five reasons we’ve gotten to this point and then looks at the the silver lining as the advisory biz rebuilds itself.
Check it out here: