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Advisor Shortage Could Reach 100,000 by 2034: McKinsey
News February 12, 2025 at 04:05 PM
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What You Need To Know
- Revenue from fee-based advisory relationships rose from $150 billion in 2015 to $260 billion in 2024.
- A projected 110,000 advisors, representing 42% of industry assets, are on tap to retire within a decade.
- McKinsey estimates that firms will need to increase productivity by 10% to 20% to meet the talent shortage.
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