Wealth Management Is Graying. How Seasoned Advisors Are Passing the Baton. – Barron’s
No one lives—or works—forever, so preparing for the inevitable handover of a financial advisory practice can mean the difference between a business that continues to thrive and one that peters out after an advisor is no longer in the picture.
Some clients are hesitant to work with younger advisors, though, which is why some advisors are proactively guiding the transition so longtime clients don’t feel slighted or uncomfortable. Preparing for an eventual handoff is especially important now. Consider that the average age of…