Talent retention is a challenge, study finds

Advisors are less confident that the next generation is prepared to take over the business according to a recent survey of more than 100 executives at registered investment advisory firms. The number of respondents with low confidence in the next generation rose to 68% in 2022 from 57% in 2019. About one-quarter of respondents said their firms were negatively impacted by the Covid-19 pandemic. More than 37% reported a sharp rise in resignations.