Advisers need younger clients, but aren't reaching out: Survey
Despite recognizing that wooing younger clients is vital to the longevity of their businesses, most advisers aren't making any effort to do so.
Six in 10 advisory firms don't have any strategy in place to court younger clients, according to a recent survey conducted by TD Ameritrade Institutional.
The RIA custodian found that nearly half of advisers consider an aging client base to be among the biggest threats to the industry.