[Weekly Wrap] Future of advice force
A survey was released at the beginning of the week that found that more than 40% of American advisers were nearing retirement.
It was interesting, then, to hear from Triplejump's Cecilia Farrow that most of their new recruits are young, university graduates. She said the difference was that businesses that were part of a group such as hers, or with an aggregator, would have the resources to make them better able to bring on new, younger staff. Otherwise, the hurdles were too high for new entrants to the business who were expected to be able to pull in their own salary while still getting to grips with the industry and forming the invaluable relationships that would sustain them.
She told me she didn't think it would be easy to be a solo adviser these days.
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