Wealth Advisors Use Internal Training to Combat Industry Succession Risk
- Reports
- 2
- Developments
- 1
- Repetition
- 50%
New informationRepeats or wire copies
What happened
Two Registered Investment Advisory firms, SageSpring Wealth Partners and OpenArc Corporate Advisory, are utilizing structured internal training programs to build talent pipelines. SageSpring Wealth Partners offers a two-year mentorship program, while OpenArc Corporate Advisory provides a three-year training class. These models offer alternatives to traditional industry training programs that have historically had high failure rates.
From americanbanker.com
Why it matters
The financial advisory industry faces existential succession risks due to retiring senior planners and a projected shortage of 100,000 advisors by 2034. These firms are establishing internal career paths to ensure continuity and retain client books of business.
From americanbanker.com
Who's involved
- David WagnerProvided expert commentary on the unsustainability of relying on inexperienced people for business development.
- TennesseeLocation of SageSpring Wealth Partners, which runs a two-year mentorship program.
- AtlantaLocation of OpenArc Corporate Advisory, which runs a three-year training class.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- TennesseeSpeculative
Financial advisory firms in Tennessee might see increased stability in client retention and revenue streams through structured talent pipelines.
Keep exploring
The entities involved
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Tennessee
state of the United States of America
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Atlanta
capital city of Georgia, United States
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David Wagner
researcher (ORCID 0000-0002-9944-9232)
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