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Financial Association Succession Planning

FPA. MANAGING a retiring workforce while BUILDING the next generation FINANCIAL PLANNING ASSOCIATION of CFP° Professionals THE FACTS As few as 29% of advisers have The financial advisory business a succession plan in place or will need 237,000 new advisers are ready for implementation. in the next ten years to maintain its current headcount. Of 315,000 advisers and brokers currently working in Twenty-one-percent of the the U.S. 12,000-16,000 will adviser workforce is over 60 retire each year.? years old and control the majority of the firms assets/most Less than 25% of advisers are valuable books.5 age 40 and under. Average age of a financial planner is in the 50s. Only 5% of advisers are age 30 and under.4 FPA'S SOLUTIONS FOR FILLING THE TALENT GAP FPA NEXGEN CHAPTERS FPA NEXGEN A vibrant, active community of young professionals who interact through chapters, events, ships through local meetings, conferences, social media and virtually through FPA's unparalleled level of nationwide chapters offer opportunities to build connections and relation- educational sessions and activities. FPA Connect. FPA MENTORMATCH FPA CAREER DAY New professionals connect with experienced Students and new professionals get a FPA members to learn first-hand look at best practices and tips from the experts. financial planning career opportunities. JOURNAL OF MEMBER DISCOUNTS FINANCIAL PLANNING FPA's award-winning, peer-reviewed publication, FPA membership pays for itself year-after-year through more than 70 practice manage- delivers the best in inno- ment product and services vative, thought-provoking content, ideas and strate- gies in financial planning. discounts, group insurance programs, and professional education resources. FPA RESEARCH AND FPA WEBINARS PRACTICE INSTITUTE™ FPA webinars provide high-quality continuing education and practice FPA Research and Practice InstituteTM is the CFP® professional's One ConnectionTM to practice and business management research and insights. management advice, retirement planning, technical knowledge, ethics, insurance and risk management, investment planning and critical thinking. SUCCESS FPA is the home for the next generation of CFP® professionals. NOTES 1www.fidelity.com/inside-fidelity/using-an-advisor/fidelity-succession-planning-program 2 www.fa-mag.com/fa-news/11229-tibergien-old-advisors-driving-young-out-of-the-busienss.html 3www.fa-mag.com/fa-news/5932-advisory-industry-faces-talent-shortage.html 4www.fa-mag.com/news/tibergien-old-advisors-driving-young-out-of-the-business-10936.html 5 www.fa-mag.com/news/tibergien-old-advisors-driving-young-out-of-the business-10936.html 6www.fa-mag.com/fa-news/5932-advisory-industry-faces-talent-shortage.html © 2015 Financial Planning Association® (FPA®) OneFPA.org | PlannerSearch.org | [email protected] 303.759.4900 | @fpassociation

Financial Association Succession Planning

shared by FPAssociation on Apr 30
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Managing a retiring workforce while building the next generation of CFP® Professionals

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