Digest December 22nd

Only 41% of Americans Use a Financial Advisor — And Younger Adults Shun the Professionals

A 2025 study by Northwestern Mutual reveals that just 41% of U.S. adults work with a financial advisor, with only 27% of those aged 18‑29 engaging one. This gap reflects cost, access, and trust barriers—and presents both a challenge and opportunity for advisory firms positioning for growth. Investopedia

The Looming Advisor Shortage: Industry Faces ~100,000‐Advisor Gap by 2034

According to a report by McKinsey & Company, the U.S. wealth‑management industry faces a shortage of roughly 100,000 advisors by 2034 if current productivity and hiring trends persist. The challenge is compounded by high retirements and low new‑advisor retention. McKinsey & Company

Independent Advisor Trends Update: 10% Plan Practice Transitions This Year

A recent industry snapshot from Cerulli Associates shows that about 10% of financial advisors expect to transition their practice this year, and one‑third plan to sell in the next few years. With consolidation, robo‑platforms, and shifting demographics in play, advisory firms must stay agile. NBC Securities