three younger advisors and one older (Photo: Shutterstock)

The financial services industry continues to grapple with the issue of succession and the decline of advisor talent as a result of aging, retiring advisors and the scarcity of experienced advisors. Twenty-six percent of the advisors retiring in the next 10 years have no succession plan, according to Cerulli Associates. And, with this group accounting for $1.8 trillion of assets, there’s a significant opportunity for younger advisors to win new business, as well as a major concern of client attrition.

In general, there are three major succession paths available to advisors:

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