Technology’s Growing Role in FA Succession Planning
From Digital Wealth News:
For years, industry pundits have been sounding the alarm: The number of financial advisors at or near retirement age is outpacing the number of new financial advisors entering the profession.
Indeed, the Certified Financial Planner Board of Standards recently reported that there are more advisors over 70 than under 30. All of which, for many industry experts, begs the following question: Who could possibly take over this massive amount of business as the waves of retiring financial advisors intensify in years to come?
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Todd Fulks, senior vice president of Succession & Acquisition at Advisor Group explained that technology enables advisors with ways to prepare for this process. But often, the improper utilization of these tools can create significant stumbling blocks for advisors looking to buy or sell a book of business.