From Yahoo Finance: 2025-04-02 10:56:00

Adviser attrition affects client relationships, assets under management, and firm reputation. Firms must rethink talent attraction and retention strategies in a competitive landscape.

High turnover in wealth management is fueled by limited career growth, compensation concerns, and excessive administrative burden. Burnout and outdated technology also contribute to adviser departures.

To retain advisers, firms must invest in technology, offer competitive compensation, prioritize career development, improve work-life balance, strengthen company culture, and enhance communication. Adviser retention is crucial for building long-lasting teams and maintaining client trust in wealth management firms.

Read more: How wealth management firms can reduce adviser attrition