We know our industry faces difficulty finding the next generation of talent, and recent data brings that point home in a powerful way. AdvizorPro’s latest survey says that one in seven advisors is over the age of 60, and urges advisors to look at “succession risk.” Recently, a Kestra survey that said only 6% of advisors planning to retire in a decade have a fully documented succession plan. There are many efforts already underway to tackle this problem, and we must continue working to solve it.
AdvizorPro Report Says More Than 1 In 7 Advisors Is Over 60
More than one in seven advisors is over 60 years old and there is high “succession risk” among wirehouses on a near-term basis and solo RIAs, according to AdvizorPro’s 2025 Advisor Demographics & Team Structures Report.
The report warns that rising talent “may not be sufficient to fully replace retiring advisors, especially in solo practices.”
Extraordinary Stories: Overcoming Challenges As An Immigrant
Srikanth Narayan of Cache discusses his experiences and challenges as an immigrant to the U.S. from India who switched careers and taught himself new subjects to make that transition. He gives advice for those who face challenges in implementing an entrepreneurial vision.
“The key is to learn relentlessly. Ask questions. Read voraciously. Seek out people who’ve been there,” Narayan said.
The Missing Piece In Wealth Advice: Estate Planning
Steve Lockshin of Vanilla makes the case that estate planning is the advisor’s job and explains how it benefits advisors.
“Clients hire you to quarterback their financial lives — not to punt tough plays to someone else. Modern tools make this easier than ever,” Lockshin argues in this editorial.
Moors & Cabot Rings In Its 135th Year
On July 8, Boston firm Moors & Cabot commemorated its 135th anniversary by participating in the closing bell ceremony at the New York Stock Exchange. We interviewed the firm’s Mark Garrett, who reflected on the unique formula and approach of the firm including taking the long view, private ownership and in-house wealthtech development.
The firm doesn’t receive external capital investment – a rare approach in the wealth management space.
Deals & Recruiting Roundup
This week we cover acquisitions by Mercer and Steward Partners; Savvy’s fundraising; recruiting by Sanctuary, Raymond James and RBC, as well as Cambridge’s recruitment of The AmeriFlex Group; and promotions and people moves by LPL, EP Wealth, Triad, Fidelis and Choreo.
Cambridge’s win of AmeriFlex, with almost $12 billion, from Osaic, is a tremendous recruitment.
Mercer Acquires $1.1 Billion Women-Led Advisory Firm
Mercer Advisors acquired O’Brien Wealth Partners, a Waltham, Massachusetts-based firm that manages about $1.1 billion in client assets. O’Brien is mainly woman-owned and led, with a “diverse, cross-generational team.”
O’Brien is a success case for two issues this industry is working to solve: women’s advancement and multi-generational talent.
Sanctuary Enters Oklahoma With $225 Million Advisor From Edward Jones
Sanctuary Wealth expands its footprint to Oklahoma by recruiting Justin R. Koch from Edward Jones, where he had $225 million in client assets. Koch founded CopperSky Wealth in Elk City.
CopperSky is the most recent of a spate of wirehouse breakaways recruited by Sanctuary.
Orion And iCapital Enhance Integration To Give Advisors Easier Access To Alts
Orion announced an expanded integration with iCapital to provide independent advisors with streamlined, single sign-on access to alternative investments.
As alternative investments continue to rise in popularity, wealthtech is moving to make investing in alts more convenient.
Fidelis Capital Hires Former Bank Of America Exec As Partner
Fidelis Capital announced that former veteran investments executive Paul Trippe came out of retirement to join the firm as Partner. Most recently, he served as Managing Director and Market Investment Executive at U.S. Trust and Bank of America Private Bank, where he managed over $2 billion in client assets, a position he left in December 2023.
Many advisors and professionals find that retirement isn’t for them, and often that means returning to the office.
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Larry Roth
CEO
Wealth Solutions Report
