sidebar

Connect: 888-821-8107

Connect: 888-820-8107

retirement Tag

What Boomers’ Retirement Means for the Advisor Industry

16:51 21 July in Articles Written by Jon Henschen by rafferty

July 18, 2017

By Jon Henschen, published on WealthManagement.com

 

Our industry will be unable to keep up with the demand for new advisors to fill the vacancies left by boomers retiring.

The number of financial advisors (RIAs) peaked in 2008 at 325,000. By 2014, that number dropped to 285,000 (Cerulli Associates). The number of FINRA registered representatives is currently at 633,822 (April 2017), which is down from 643,433 in 2015. This reflects only the beginning of boomer retirement trends. Public accounting firm Moss Adams has forecast a shortfall of 200,000 advisors by 2022, with boomer retirement continuing through 2030. This will only compound the shortfall of advisors. The average age of advisers today is over 50, and 41 percent of advisors are 55 or older according to Cerulli.

Read More

Boomers to Cause Markets to Go Bust

19:58 19 July in Articles Written by Jon Henschen by rafferty

July 17, 2017

By Jon Henschen, published on WealthManagement.com

 

As boomers retire and exit the economic-contribution side of society, we’ll likely see a stock sell-off.

Living in Los Angeles from 1979 to 1995, I grew accustomed to my TV viewing being interrupted by breaking news of car chases. A slightly different TV breakaway event occurred on July 2, 1982, when San Pedro resident Larry Walters, out of sheer boredom, purchased 42 8-foot weather balloons and several tanks of helium.

Larry filled and tied the balloons to his lawn chair and took flight, reaching altitudes of 15,000 feet. “Lawn Chair Larry” drifted into the controlled airspace of LAX airport, prompting pilots to report the safety hazard to the control tower.

Read More