In a profession built on trust, longevity and relationships, the future of financial advice hinges on one critical question: Are we truly developing the next generation of advisors? The healthiest firms don’t just ask that question — they build their culture, structure and long-term strategy around answering it with a resounding “yes.”
What “Developing The Next Generation of Advisors” Really Means
Developing Next Gen advisors goes far beyond licensing and onboarding. It’s about mentorship, intentional career pathways, access to experienced teams and leadership opportunities. New advisors should not be expected to “figure it out” on their own. Instead, they should be surrounded by veteran advisors, structured training programs and a team-based approach that prioritizes learning and confidence-building over early solo production.
It also means meeting younger advisors where they are — by offering modern tools, flexibility, purpose-driven work and a real stake in client outcomes. This is a generation that craves impact and values alignment. This impulse should be nurtured by investing not just in skills, but in culture and connection.
Advisor Development As A Sign Of Firm Health
Firms that prioritize advisor development send a clear message: Were planning to be here for the long haul. A healthy firm views talent development the same way a good advisor views investing — long-term, strategic and full of compounding benefits. A deep bench of well-trained advisors boosts continuity, client confidence, internal culture and enterprise value.
Firms that aren’t developing talent? They’re often trapped in a short-term mindset, overly reliant on a handful of top producers and vulnerable to disruption, succession gaps or acquisition.
Industry-Wide Barriers To Next Gen Development
Despite the importance of Next Gen talent, many firms struggle to create viable pipelines. Why?
- Legacy compensation models often fail to support early-career advisors.
- Lack of training infrastructure leaves young professionals underprepared and overwhelmed.
- An eat-what-you-kill mentality discourages collaboration and mentorship.
- Aging leadership sometimes resists change or fears investing in talent that might eventually leave.
In short, many firms still treat advisor development as a cost center, not a strategic asset.
Many firms still treat advisor development as a cost center, not a strategic asset.
What Firms Should Start (And Stop) Doing
To attract, develop and retain Next Gen advisors, firms should:
- Start creating structured career paths with built-in mentorship and gradual responsibility growth.
- Start rewarding team success, not just individual production.
- Start modernizing the advisor experience with tech, flexibility and client-facing tools that resonate with the digitally native.
- Stop treating development like a gamble, it’s an investment — one that pays off in loyalty, retention and firm sustainability.
- Stop relying exclusively on rainmakers, since the future is in collaborative, scalable service models.
Redefining Success For New Advisors
Traditional benchmarks like production volume or AUM growth are important — but they’re incomplete. Especially in an advisor’s first three to five years, success should also be measured by:
- Client retention and satisfaction
- Engagement in training and professional development
- Contribution to team goals
- Adaptability and leadership potential
- Values alignment and cultural impact
The future of the financial advice profession depends on more than just who brings in the biggest clients — it depends on who we’re bringing into the profession and how we set them up to thrive.
The future of the financial advice profession depends on more than just who brings in the biggest clients.
To be truly successful, a firm needs to make this a core part of its mission, because best way to serve clients for decades to come is to build a firm where the Next Gen doesn’t just work — but leads.
Jason Inglis is Chief Development Officer of Trilogy Financial, an advisor-owned and led hybrid RIA.
