Something odd is going on. Why are partners at established wealth management sounding so alarmed about their Millennial advisors? Why are they pulling me aside to complain that their young associates aren’t bringing in enough business?
It’s happening all over the place—not at every single firm, but frequently enough to sound an alarm. These are good firms, too, run by partners smart enough to invest in the future. They did everything right: recruited young talent, developed new training platforms, even hired consultants to develop new compensation and incentive plans. For the most part, their efforts paid off. These young advisors have the technical side down cold, and they know how to deliver impeccable service. The only problem is, they just aren’t generating leads.