Young financial advisors are feeling lost, lacking clear career paths and support. A recent study by DeVoe & Co. highlights the need for defined career paths, equity transparency, and stronger coaching. Firms risk losing their edge with an aging advisor population and scarce talent. Succession planning and pay are areas of concern.

The industry must focus on developing talent to support growth and mergers. With advisor turnover on the rise and next-gen advisors craving clarity and structure, firms need to provide defined career paths and better coaching. Neglecting people strategy can lead to decline in service quality and leadership.

RIAs are experiencing higher turnover rates, signaling a need for better support and development for younger advisors. Annual reviews are considered the minimum, yet many firms lack more frequent feedback sessions. Leaders must prioritize coaching and development to retain talent and ensure long-term success in the industry.

Read more at Yahoo Finance: Next-Gen Advisors Want Clear Path to Promotion: DeVoe