The August 2024 report highlights a looming human capital crisis in wealth management as aging advisors approach retirement without sufficient next-generation replacements. Many older advisors delayed retirement during the pandemic, prolonging careers but intensifying future succession challenges. Over 60% of firms report average advisor ages between 51 and 55, with 65% expecting retirements by 2030 that will impact at least a quarter of their AUM. While some firms offer financial or nonfinancial incentives to retain retiring advisors in transitional roles, most lack formal next-gen recruitment programs, risking talent gaps and lost client assets.

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