More than one in seven advisors is over 60 years old and there is especially high “succession risk” among wirehouses on a near-term basis and solo RIAs, according to AdvizorPro’s 2025 Advisor Demographics & Team Structures Report, released on Tuesday.
The report, created by AdvizorPro CEO and Founder Michael Magnan and the firm’s research team, analyzed over 776,000 advisors and 44,700 registered firms. It covered trends in advisor age, team structure and organizational dynamics across RIAs, broker-dealers, hybrids, family offices and institutional wealth channels as of June 1, AdvizorPro said.
“The U.S. financial advisor landscape is in a state of generational and structural transition,” the firm points out in the report’s executive summary.
“With an aging advisor base, uneven gender representation, and increasing team complexity, firms face mounting pressure to adapt their strategies for recruiting, marketing, and long-term planning,” AdvizorPro says.
According to the report, the average advisory team “remains lean,” with 2.8 advisors, but a “long tail of scaled firms is reshaping service models,” it says.
Also, “younger, tech-enabled advisor teams are driving platform adoption and centralized decision-making,” according to the report.
Commenting on the report’s findings, Dustin Echenique, Chief Revenue Officer at AdvizorPro, told WSR, “Advisors aren’t just aging-they’re evolving.”
The report “shows a clear divide between solo practitioners nearing retirement and scaled, tech-forward teams driving the next phase of growth,” Echenique said.
He added, “For firms looking to win the future of wealth, understanding these demographic and structural shifts is no longer optional-it’s strategic.”
AdvizorPro’s report concluded, “From aging solo practitioners to scaled, tech-forward teams, the data in this report reflects real shifts in how financial advice is delivered and by whom. Firms that recognize these patterns can better position themselves for the future—whether through more informed growth strategies, tailored recruiting approaches, or product design that aligns with how today’s advisors actually work.”
The average U.S. advisor is 46.7 years old, with a median age of 46, according to the report. “Notably, 14.4% of advisors are over 60, indicating a significant cohort approaching retirement,” it says.
According to the report, the “advisor population is aging, with more professionals in their 50s and 60s than in their 20s and early 30s.”
Although “there is a visible pipeline of younger talent — particularly in the 35–45 age range — it may not be sufficient to fully replace retiring advisors, especially in solo practices,” the report warns. “This underscores the dual need for succession planning and early-career advisor development.”
By channel, the median age of a wirehouse advisor is 51, while the mean age is 49.3. Among hybrid firms, the median age is 46 and the mean age is 46.6, while the median age of independent broker-dealers is 46 and the mean age 46.1. The median age of RIA advisors is 45 and the mean age is 46.1.
“RIA and hybrid advisors are significantly younger and more growth-oriented.” - AdvizorPro 2025 Advisor Demographics & Team Structures Report
“Wirehouse advisors are the oldest, reflecting legacy structures and a slower pace of independence transitions,” according to the report. “RIA and hybrid advisors are significantly younger and more growth-oriented. IBDs land in the middle, reflecting a range of affiliations and transition timelines.”
Advisor age also “varies widely depending on firm size and structure,” the report notes, pointing out the median age of enterprise RIAs is 44 and the mean age is 45.1, while the median age of medium-sized RIAs is 46 and the mean age 47. As the RIAs decreased in size, ages went up, with the median age of small RIAs being 48 and the mean age 48.4, and for solo RIAs, the median age is 51 and the mean age is 50.9.
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jeff.berman@wealthsolutionsreport.com.
