Trilogy Financial, formerly part of the National Planning Holdings network bought by LPL Financial in August, says it will affiliate with the independent broker-dealer. The Huntington Beach, California-based group has some 150 financial advisors and over $2 billion in client assets.
Radio host Jeff Motske CEO of Trilogy Financial shares the financial compatibility model changing the investing world.
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Given projections for a 100,000 financial advisor shortfall over the next 10 years, successfully recruiting next-gen advisors has taken on added urgency for both our industry as a whole and the wealth management firms seeking to thrive within it.
Meeting this demographic challenge head-on is complicated by the evolving nature of wealth management. Increasing numbers of breakaways forgoing the wirehouse model, as well as the growing presence of aggregators, consolidators and private equity, are altering the landscape. The expansion of W-2 models in the independent space is redefining what it means to be independent. At the same time, technological innovation, particularly AI, offers great promise and an equal amount of trepidation.
The generational differences next-gen advisors and their clients bring to the table – priorities, expectations, skills and values – present yet another challenge when it comes to effectively engaging this group. However, meeting next-gen advisors where they are is a solid recruiting practice some firms can’t get their arms around. There’s a reason firms currently thriving in the marketplace with younger advisors are enjoying success…Read More
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