Advisor recruitment and retention remain a challenge across the industry with high attrition numbers; competition for the same pool of talent; and expectations of advisors in terms of compensation, support and career paths. To learn more about these issues, we spoke with Megan Glover, Chief People Officer at EP Wealth Advisors and Connor Sung, Director of Practice Management at eMoney Advisor.
WSR asked each of them what they see as the most pressing issues in advisor recruitment and retention now, as well as what their firms are doing specifically to address advisor recruitment and retention.
Their responses follow.
WSR: What are the most pressing issues in advisor recruitment and retention?
Sung: The success of the industry has largely relied on strong economic and market performance, but it is structurally flawed for initial recruitment, development and retention.
While we’ve made progress increasing visibility into financial planning as a career option, entry-level compensation still relies heavily on self-sourced clients and delayed pay, which creates high attrition instead of a resource pipeline. For established advisors and teams, recruiting has become net zero, with firms “stealing” advisors through transition packages, which inflate costs without expanding supply.
Retention is increasingly driven by experience and support, not just compensation. Advisors are leaving due to operational friction like unintegrated technology and inconsistent support. For less experienced advisors, unclear career paths make it difficult to see their futures, and they are more inclined to switch companies.
We need to continue to attract smart and empathetic advisors while redesigning the career model to align with how advice is delivered today.
Glover: At EP Wealth, the defining recruitment and retention challenge is not access to talent — it is sustaining culture and advisor development amid rapid scale while competing for a finite pool of experienced, diverse advisors. Over the past year, our advisor population has grown from 197 to 282, including a 58% increase in female advisors.
Growth at that pace introduces integration complexity: New advisors must quickly assimilate into a planning‑led, client‑first model while navigating evolving systems, leadership pathways and expectations in a scaling enterprise. At the same time, firms across our competitive set are pursuing the same limited population of talented advisors who increasingly evaluate inclusion, leadership visibility and long‑term career sustainability alongside compensation.
The central tension is clear — how to grow without diluting what defines us. Advisors want assurance they can build meaningful careers without compromising their identity or our commitment to putting clients first.
WSR: What is your firm doing specifically for advisor recruitment and retention? How can your program serve as a model for the broader industry?
Glover: EP Wealth has focused on building the internal infrastructure required to make advisor careers sustainable at scale. EP Wealth Academy provides structured development across technical planning, leadership and management capability, ensuring advisors can grow alongside the firm as complexity increases.
Our formal three‑year Advisor Retirement Program aligns advisor transitions with client retention and succession continuity, reinforcing our commitment to long‑term client relationships while providing predictable career pathways for next‑generation advisors.
In parallel, EP is finalizing a redesigned incentive framework targeted for 2027 implementation. This will broaden performance measures beyond production to include collaboration, mentorship, compliance and client experience.
Together with initiatives like Investing in Women, these efforts enable EP to compete for diverse talent while embedding inclusion and client outcomes into how we develop, reward, and transition advisors.
Sung: We’re committed to supporting next generation planners with our University Program and through partnership opportunities such as the Amplified Planning Externship. These programs provide aspiring advisors with access to eMoney’s technology, along with training and the opportunity to complete an eMoney Certification.
Our training and certification go beyond self-learning. In many cases, participants have access to eMoney practitioners who offer real-world expertise and coaching. They gain proficiency in eMoney and add marketable skills to their resume. To date, more than 6,400 people have completed the eMoney Certification across next gen focused programs.
We feel strongly that technology is table-stakes for the profession, and it will help narrow the anticipated gap by creating efficiencies that allow advisors to serve a greater number of clients. Arming newcomers with this training and access lays the foundation for tomorrow’s advisors who want to make an immediate impact.
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jeff.berman@wealthsolutionsreport.com.
