Filed Under:Your Practice, Practice Management

Boomer RIAs Lead the Pack in Succession Planning

As a generation of trailblazing advisors nears retirement, younger advisors get set to take the reins. A survey conducted by TD Ameritrade Institutional suggests more independent registered investment advisors are making the move to develop a formal succession plan and most say they will identify an internal successor. 

According to the quarterly survey of 502 RIAs, 62 percent of advisors say they have or are in the process of developing a succession plan, up from just 43 percent in 2010. Satisfying client expectations (66 percent) is the top reason advisors say they have a succession plan, followed by supporting the long-term viability of the firm (51 percent) and providing a smooth transition into the advisor’s retirement (49 percent).


An overwhelming majority of RIAs report their retirement timelines are on track (85 percent). Thirteen percent say they will work longer than expected and only 2 percent say they will retire early.

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Nichole Morford

Nichole Morford
Managing Editor

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