Jon Robinson

Imagine a world where clients outnumber financial advisors by such a wide margin that investors struggle to find guidance when they need it most. That world isn’t decades away — it’s unfolding right now.

A recent McKinsey article highlights this growing challenge in wealth management: a looming shortage of financial advisors at the very moment demand for personal financial guidance is reaching new heights.

According to the study, more than 100,000 financial advisors — roughly 40% of the workforce — are expected to retire by 2034. This is leaving firms with a critical decision: who – or what (i.e., artificial intelligence and robo-advisors) – will take their place?

While this may seem like an industry crisis, it also presents an opportunity for forward-thinking advisory practices, individual financial advisors who are eager to try a new model, and financial services partners capable of providing scalable practice management solutions.