Merrill Lynch to Push for Younger Advisors in its ‘Thundering Heard’

Below is an excerpt from a The Trust Advisor article.  The article points to statistics around the current average age of advisors to illustrate the opportunity for young people in the industry.  Merrill Lynch, which runs one of the largest training programs on Wall Street, is launching a renewed push to recruit and train young advisors.

“Make no mistake, when we look out over the next 10 years the thundering herd will be growing,” Sieg said, speaking at the Securities Industry and Financial Markets Association’s Private Client Conference.

Roughly half of financial advisers are over 55, and 100,000 brokers will likely retire over the next decade, according to research firm Cerulli Associates.

Read the full article here.